Considerable market growth in Brazil synthetic rubber market is expected during the forecast period. Brazil is one of the major economies of Latin America. Rising application of synthetic rubber in tiers, consumer electronics is expected to augment the market in the country. Brazil is among the few major economies that registered positive growth in 2019 in vehicle production and registration. As per the National Association of Motor Vehicle Manufacturers, around 2.45 million passenger cars were produced in Brazil in 2019 as compared to 2.38 million in 2018. A growth of 2.6% is registered YoY in 2019 in passenger car production whereas passenger car registration has increased by 7.6% YoY. Moreover, significant expansions by the tire companies have been witnessed in the country. For instance, in April 2019 Sumitomo Rubber Industries Ltd. Started the production of commercial vehicle tires in the country at its Fazenda plant with an investment of $133 million in three years.

Brazil synthetic rubber market is segmented based on type and end-user. By type, the market is further divided into Styrene Butadiene Rubber, Polybutadiene Rubber, Ethylene Propylene Rubber, Isoprene Rubber, and others. During the forecast period, Styrene-Butadiene Rubber will have a major market share. By end-user, the market is divided into automobile components, industrial application, footwear, household, and others. Other segment includes electronics, aerospace and so other. Automobile and other segments are expected to have a significant market share in the country.

The companies which are contributing significantly in the market include ARLANXEO Holding B.V., Asahi Kasei Corp., Bridgestone Corp., Exxon Mobil Corp., Kuraray Co., Ltd., LG Chem, Ltd., SABIC, The Dow Chemical Co., The Goodyear Tire & Rubber Co., The Michelin Group and others. The market players are considerably contributing to the market growth by the adoption of various growth strategies including new product launch, merger, and acquisition, collaborations with government, and technological advancements to stay competitive in the market.

Research Methodology

The market study is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts to bring authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for rubber companies, chemical companies, automotive &auto-ancillary companies, footwear companies, electronics companies, aircraft manufacturing companies, vendors, government organizations, and venture capitalists for the comprehensive market analysis. The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Brazil Synthetic Rubber Market Research and Analysis by Type
2. Brazil Synthetic Rubber Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of Brazil Synthetic Rubber Market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Brazil Synthetic Rubber Market.
• Insights about market determinants which are stimulating Brazil Synthetic Rubber Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.