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Synthetic Rubber Market Analysis, Opportunities, Share, Size and Forecast by 2017

https://www.fortunebusinessinsights.com/synthetic-rubber-market-102144 


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Nitesh Vhaval

4 months ago | 1 min read
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The global synthetic rubber market share is expected to gain momentum from the rising inclination of people from natural rubber to artificial rubber. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Synthetic Rubber Market, 2020-2027.” The report further states that the global market size was USD 30,396.8 million in 2019. It is projected to reach USD 36,761.9 million by 2027, exhibiting a CAGR of 3.2% during the forecast period. Nowadays, several companies are striving persistently to introduce innovative synthetic rubbers to cater to the high demand. In March 2019, for instance, Trinseo unveiled SPRINTANTM 918S, a new grade of Solution Styrene Butadiene Rubber (S-SBR) at the Tire Technology Expo, Germany.

Drivers & Restraints-

High Abrasion & Temperature Resistant Properties to Bolster Growth 

Synthetic rubber is experiencing high demand from the automotive industry worldwide. It has excellent temperature resistance and abrasion properties that make it the best suited for numerous vehicle manufacturers. The Malaysian Rubber Council (MRC), for instance, declared that the usage of this rubber surged to 15,792 million tons in 2020 from 15,280 million tons in 2019. However, the manufacturing process of this type of rubber can be harmful for the environment. This factor may hinder the synthetic rubber market growth in the upcoming years.

Regional Insights-

Asia Pacific to Remain at the Forefront Stoked by Rapid Infrastructure Development 

By geography, Asia Pacific procured USD 15,711.2 million in terms of revenue in 2019. The rising development of infrastructures and constant product advancements would propel growth in this region. In Europe, the expansion of the automotive industry will accelerate the demand for synthetic rubber, thereby making it the second-largest in terms of revenue. North America is anticipated to show rapid growth fueled by the flourishing electrical & electronic industry.

A list of all the renowned synthetic rubber manufacturers operating in the global market:

  • LANXESS (Germany)
  • Sinopec (China)
  • Goodyear Tire and Rubber Company (U.S.)
  • Indian Synthetic Rubber Private Limited (India)
  • Reliance Industries Limited. (India)
  • Trinseo (U.S.)
  • Kumho Petrochemical (South Korea)
  • TSRC Corporation (Taiwan)
  • Nizhnekamskneftekhim (Russia)
  • Apcotex Industries Limited (India)
  • JSR Corporation (Japan)
  • Other Key Players

Information Source:

 https://www.fortunebusinessinsights.com/synthetic-rubber-market-102144 



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