China synthetic rubber market is expected to show significant market growth during the forecast period. China is one of the largest producers and exporter for synthetic rubber all across the globe. China synthetic rubber market is driven by the automobile sector of the country and the exports to foreign countries. The country is the largest manufacturer of automobiles globally. The synthetic rubber market is mainly driven by the stable development of the automobile and tire industries. As per the International Organization of Motor Vehicle Manufacturers, around 27.8 million vehicles were manufactured in the country in 2018. Moreover, the country is among the largest two-wheeler market all across the globe. 

Moreover, significant market growth in the medical application can be witnessed in the country. Increasing insurance coverage, rising number of health workers, improvements in living standards, more stringent infection controls and an increase in the number of aged people are some of the major factors for the growth of the medical industry, which indirectly augmenting the synthetic rubber products in the country. Vinyl gloves account for more than 70% of the total consumption of medical gloves followed by latex medical gloves and nitrile. 

New companies entering the synthetic rubber industry are focusing on medium and low-end styrene-butadiene rubber and cis-polybutadiene rubber (BR) products. With the release of new capacity, China observes critical structural overcapacity of synthetic rubber. In the next few years, China's de-capacity trend will be more apparent, and the new capacity will center on SBS and environment-friendly rubber will be foreseen. 

The market has been segmented on the basis of type and end-user. By type, the market is further segmented into Styrene Butadiene Rubber, Polybutadiene Rubber, Ethylene Propylene Rubber, Isoprene Rubber, and others. By end-user, the market is divided into automobile components, industrial application, footwear, household, and others. The companies which are contributing significantly in the market include ARLANXEO Holding B.V., Asahi Kasei Corp., Bridgestone Corp., China Sinopec, Exxon Mobil Corp., JSR Corp., LCY Chemical Corp., LG Chem, Ltd., SABIC, 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 brings 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. China Synthetic Rubber Market Research and Analysis by Type
2. China Synthetic Rubber Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of China 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 China Synthetic Rubber Market.
• Insights about market determinants which are stimulating China Synthetic Rubber Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.