What is Global Synthetic Rubber Market?
The Global Synthetic Rubber Market is a vast and dynamic sector that encompasses a wide range of synthetic rubber types. These include Styrene Butadiene Rubber (SBR), Polybutadiene Rubber (BR), Styrenic Block Copolymer (SBC), Ethylene Propylene Diene Monomer (EPDM), Butyl Rubber (IIR), Nitrile Butadiene Rubber (NBR), among others. Each of these types of synthetic rubber has unique properties and applications, making them integral to various industries. Styrene Butadiene Rubber (SBR) is one of the most commonly used types of synthetic rubber. It is known for its excellent abrasion resistance and ability to maintain flexibility at low temperatures. This makes it ideal for use in products such as tires, conveyor belts, and footwear. Polybutadiene Rubber (BR), on the other hand, is valued for its high resistance to wear and tear, making it a popular choice for the manufacture of tires and mechanical parts. Styrenic Block Copolymer (SBC) is a versatile type of synthetic rubber that is used in a wide range of applications, from adhesives and sealants to asphalt modification. Ethylene Propylene Diene Monomer (EPDM) is known for its superior resistance to heat, ozone, and weathering, making it ideal for outdoor applications such as roofing membranes and window seals. Butyl Rubber (IIR) is a synthetic rubber that is highly resistant to gases and moisture, making it a popular choice for applications such as inner tubes and liners. Nitrile Butadiene Rubber (NBR) is a type of synthetic rubber that is highly resistant to oils and fuels, making it ideal for use in the automotive and aeronautical industries. The Global Synthetic Rubber Market is not limited to these types of synthetic rubber. There are many other types of synthetic rubber that are used in various applications, each with its unique properties and uses.
Styrene Butadiene Rubber (SBR), Polybutadiene Rubber (BR), Styrenic Block Copolymer (SBC), Ethylene Propylene Diene Monomer (EPDM), Butyl Rubber (IIR), Nitrile Butadiene Rubber (NBR), Others in the Global Synthetic Rubber Market:
The Global Synthetic Rubber Market finds extensive usage in several areas such as Automotive, Construction, Industrial, among others. In the automotive sector, synthetic rubber is primarily used in the manufacture of tires, belts, hoses, and gaskets. It is favored for its durability, resistance to wear and tear, and ability to withstand extreme temperatures. In the construction industry, synthetic rubber is used in a variety of applications, including roofing membranes, sealants, and adhesives. Its resistance to weathering and ability to maintain flexibility at low temperatures make it an ideal material for these applications. In the industrial sector, synthetic rubber is used in the manufacture of a wide range of products, from conveyor belts to protective clothing. Its excellent abrasion resistance and ability to resist oils and fuels make it a popular choice for these applications. Other areas where synthetic rubber is used include the medical industry, where it is used in the manufacture of gloves and other protective equipment, and the electronics industry, where it is used in the production of insulation and other components.
Automotive, Construction, Industrial, Others in the Global Synthetic Rubber Market:
The Global Synthetic Rubber Market has shown significant growth in recent years. In 2022, the market was valued at US$ 33120 million. It is projected to reach US$ 38640 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 2.2% during the forecast period from 2023 to 2029. The market is relatively concentrated, with the top 10 players accounting for nearly 50% of the market share. The Asia Pacific region dominates the market, accounting for over 55% of the global market share. The automotive sector is the largest consumer of synthetic rubber, accounting for over 60% of the market share. This is due to the extensive use of synthetic rubber in the manufacture of tires, belts, hoses, and gaskets in the automotive industry.
| Report Metric | Details |
| Report Name | Synthetic Rubber Market |
| Accounted market size in 2023 | US$ 33910 million |
| Forecasted market size in 2029 | US$ 38640 million |
| CAGR | 2.2 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Arlanxeo, Sinopec, Kumho Petrochemical, CNPC, TSRC, ExxonMobil, Goodyear, NKNK, JSR, Sibur, LG Chem, Versalis, LCY, Kraton, Zeon |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
