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Synthetic Rubber Market Share, Latest Trends, Report 2024-2032

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IMARC Group, a leading market research company, has recently releases report titled “Synthetic Rubber Market Report by Type (Styrene Butadiene Rubber, Ethylene Propylene Diene Rubber, Polyisoprene, Polybutadiene Rubber, Isobutylene Isoprene Rubber, and Others), Form (Liquid Synthetic Rubber, Solid Synthetic Rubber), Application (Tire and Tire Component, Non-Tire Automobile Application, Footwear, Industrial Goods, and Others), and Region 2024-2032” Offers a comprehensive analysis of the industry, which comprises insights on the global synthetic rubber market share.

How Big is the Synthetic Rubber Market?

The global synthetic rubber market size reached US$ 33.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 44.2 Billion by 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.

Industry Overview of Synthetic Rubber

Synthetic rubber is an artificial, polymer-based material designed to mimic the properties of natural rubber. It is created through the polymerization of various petroleum-derived compounds and additives. It can stretch and contract to its original shape and exhibits excellent resistance to harsh weather conditions and ultraviolet (UV) radiation, making it suitable for outdoor use. Besides this, it is more cost-effective and has a longer lifespan than natural rubber in certain applications, as it resists wear and tear. It is widely used in the production of athletic shoes and various types of footwear due to its flexibility and durability.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/synthetic-rubber-market/requestsample

What are the growth prospects and trends in the synthetic rubber industry?

The escalating demand for vehicles with better fuel efficiency, safety, and comfort represents one of the key factors augmenting the market growth. Additionally, the expanding applications of synthetic rubber in O-rings and gaskets on account of its chemical resistance and sealing capabilities are facilitating the market growth.

Apart from this, the increasing utilization of synthetic rubber in conveyor belts and power transmission belts due to its strength is offering a favorable market outlook. Furthermore, the implementation of environmental regulations is encouraging manufacturers to develop eco-friendly synthetic rubber alternatives.

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Moreover, ongoing research and development (R&D) activities are leading to the creation of new synthetic rubber formulations with improved properties, including fuel efficiency, wear resistance, and noise reduction.

Leading Companies Operating in the Global Synthetic Rubber Industry:

  • Apcotex Industries Limited
  • Asahi Kasei Corporation
  • China Petrochemical Corporation
  • Denka Company Limited
  • Exxon Mobil Corporation
  • JSR Corporation
  • Kumho Petrochemical Co. Ltd.
  • Lanxess AG
  • LG Chem Ltd.
  • PJSC Nizhnekamskneftekhim
  • Reliance Industries Limited
  • Saudi Basic Industries Corporation (Saudi Arabian Oil Co.)
  • The Goodyear Tire & Rubber Company
  • TSRC Corporation
  • Zeon Corporation

Synthetic Rubber Market Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

  • Styrene Butadiene Rubber
  • Ethylene Propylene Diene Rubber
  • Polyisoprene
  • Polybutadiene Rubber
  • Isobutylene Isoprene Rubber
  • Others

Breakup by Form:

  • Liquid Synthetic Rubber
  • Solid Synthetic Rubber

Breakup by Application:

  • Tire and Tire Component
  • Non-Tire Automobile Application
  • Footwear
  • Industrial Goods
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC Group

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Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163

 

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