Synthetic Rubber Market- Overview, Segmentation, Geographical Analysis, Key Players Outlook, Demand Forecast by 2023


Posted September 19, 2018 by harishsomani321

Synthetic Rubber Market Research Report Information by End-User (Automotive & Transportation, Construction, industrial, footwear), Type (Styrenic Block Copolymer, Styrene-Butadiene, and Butadiene Rubber), Region, and Forecast to 2023

 
Overview:
Synthetic Rubber is classified as elastic polymer from which rubber is obtained and manufactured on the basis of petrochemical raw material. It is mostly used with natural rubbers as a single polymer or in mixture and is majorly produced synthetically by polymerization. It is predominantly used as the main constituent of the tires used on automobiles, airplanes, and bicycles. It finds a wide application scope in numerous end use industries such as footwear, industrial, construction, automotive & transportation, and others.
Some of the important factors that positively influence the growth of the Synthetic Rubber Market are increasing per capita disposable income, rising demand for lightweight footwear, and growing construction industry. Rapid urbanization combined with rising per capita disposable income in various countries across the globe is estimated to drive the growth of the market during the forecast period. Moreover, rising demand for durable as well as oil resistant rubber and increasing investment in construction activities is likely to propel the market growth over the estimated period, 2016 to 2023.
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Intended Audience:
• Synthetic Rubber Manufacturers
• Traders and Distributors of Synthetic Rubber
• Production Process Industries
• Potential Investors
• Raw Material Suppliers
• Nationalized Laboratory
Categorization:
The Global Synthetic Rubber Market is segmented on the basis of end-use industry, type, and region.
Base on end-use industry, the market is categorized into automotive & transportation, construction, industrial, footwear, and others.
By type, the market is classified into SBR, NBR, BR, EPDM, SBC, others. Other type include IR, IIR, and CR.
Based on region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Regional Analysis:
Asia Pacific is expected to be the largest market for Synthetic Rubber followed by Europe and North America on account of increasing demand from numerous end use industries such as building & construction and automobile & transportation among others. Emerging countries of Asia Pacific such as China, India, Thailand, Japan, and South Korea are the fastest growing market for synthetic rubber, and is predicted to grow with the same pace in the near future. In Asia Pacific, some of the driving factors for market growth are strong economic growth rate, competitive manufacturing costs, and availability of inexpensive raw material.
Europe Synthetic Rubber Market is estimated to witness a steady growth due to continuous growth of footwear industry.
Competitors:
Some of the top players available in the global Synthetic Rubber Market are, Exxon Mobil (U.S.), LG Chem (South Korea), LANXESS (Germany), The Dow Chemical Company (U.S.), Versalis S.p.A. (Italy), Kumho Petrochemical (South Korea), JSR Corporation (Japan), Sumitomo Chemical Co. Ltd. (Japan), ZEON Corporation (Japan), and Asahi Kasei Corporation (Japan).
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Last Updated September 19, 2018