The European synthetic rubber market is forecast to augment with significant market growth during the forecast period. Various application of synthetic rubber in the region is one of the major factors for the growth of the market. The region is one of the major producers of vehicles, which creates the demand for synthetic rubber as the demand for synthetic rubber is majorly dependent on the automobile industry which is the chief purchaser of tires. As per the International Organization of Motor Vehicle Manufacturers, in Europe, around 21.33 million vehicles were manufactured in 2018. Out of this, around 18.7 million were passenger cars and rest were commercial vehicles. A considerable demand from the aftermarket is also generated from the region.

The European synthetic rubber market is 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. Styrene-Butadiene Rubber is expected to hold the largest market share during the forecast period. By end-user, the market is further segmented into automobile components, industrial application, footwear, household, and others. Automobile components are expected to hold a major market share during the forecast period. Moreover, the market is also studied Gon the basis of geography. The market is divided into Germany, UK, France, Spain and Italy. Germany is expected to be a major market for synthetic rubber as the country is a major manufacturer of automobile and its parts. Apart from Germany; UK and France are also expected to have a considerable market share in the region. 

The companies which are contributing significantly in the market include ARLANXEO Holding B.V., Bridgestone Corp., Exxon Mobil Corp., LG Chem, Ltd., SABIC, The Dow Chemical Co., 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. European Synthetic Rubber Market Research and Analysis by Type
2. European Synthetic Rubber Market Research and Analysis by End-User

The Report Covers

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