South Korea synthetic rubber market is expected to show significant market growth during the forecast period. As per South Korea Rubber Industry Association, there are more than 10,000 companies working in the rubber industry in the country. Each year, the country exports a rubber of around $10 billion all across the globe. Moreover, the country is one of the major global automotive manufacturing hubs. Automotive companies such as Hyundai, Kia, SsangYong Motor have headquartered in the country which creates a significant demand for synthetic rubber in the country. The country is the seventh-largest vehicle manufacturer in 2018 and fourth-largest after China, Japan, and India respectively. In 2018, the country manufactured around 4 million vehicles out of which nearly 3.7 million were passenger cars.

South Korea synthetic rubber market is studied on the basis of type and end-user. By type, the market is further divided into Styrene Butadiene Rubber, Polybutadiene Rubber, Ethylene Propylene Rubber, Isoprene Rubber, and others. Styrene-Butadiene Rubber is expected to have a major market share during the forecast period. By end-user, the market is divided into automobile components, industrial application, footwear, household, and others. Others include electronics, aerospace and so other. The automobile and other segments are expected to have a significant market share in the country. Samsung Electronics, LG Electronics are among the major electronics companies headquartered in the country, it creates a significant demand for electronics in the country. 

The companies which are contributing significantly in the market include LG Chem, Ltd., SABIC, Asahi Kasei Corp., Bridgestone Corp., Denka Company Ltd., Sumitomo Chemical Co., Ltd., 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. South Korea Synthetic Rubber Market Research and Analysis by Type
2. South Korea Synthetic Rubber Market Research and Analysis by End-User

The Report Covers

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