The US is one of the largest consumers of rubber and is an extensive market for synthetic rubber and its products. Synthetic rubber is mainly used in the manufacturing of tires, footwear, wire, industrial rubber goods such as hoses and belts, and cable coverings, adhesives, and sporting goods. Moreover, it is used for airplane tires, surgical gloves, and many of the other products. However, the major demand for rubber is driven by the automobile sector as automobiles tires are made of synthetic rubber blended with natural rubber. The automotive industry is the largest end-user of synthetic rubber contributing to its production. In the US, the production of synthetic rubbers is contained in standard industry classification (SIC) grouping 2822.

The demand for synthetic rubber is majorly dependent on the automobile industry, which is a major purchaser of tires. As per the International Organization of Motor Vehicle Manufacturers, the US has manufactured about 11.3 million vehicles in 2018, out of which around 75% are commercial vehicle and 25% are passenger cars. Natural rubber accounted for 40% of the rubber used in tires, and the remaining 60% is fragmented among a number of synthetic rubbers. SBR, butyl, and butadiene rubbers are the primary synthetics used in tire construction. These rubbers are used in different tire parts, such as the carcass, tread, and sidewall. 

The US 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 will hold the largest market share during the forecast period. By end-user, the market is segmented into tires & other automobile components, industrial application, footwear, household, and others. Tires and other automobile component is expected to have a major market share during the forecast period in the country. 

The companies which are contributing significantly in the market include Asahi Kasei Corp., Bridgestone Corp., Exxon Mobil Corp., Firestone Polymers, LLC, JSR Corp., LG Chem, Ltd., SABIC, The Dow Chemical Co., The Goodyear Tire & Rubber Co., The Michelin Group, Ube Industries, 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. US Synthetic Rubber Market Research and Analysis by Type
2. US Synthetic Rubber Market Research and Analysis by End-User

The Report Covers

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