Increase in the Usage of Synthetic Rubber as Opposed to Natural Rubber

The global synthetic rubber market is anticipated to grow at a substantial CAGR of 4.9% during the forecast period (2024-2031). The market growth is primarily driven by an increase in the usage of synthetic rubber as opposed to natural rubber for its compatibility with chemicals, greases, oils, heat, oxidizing agents, and other unfavorable situations. Another purpose of synthetic rubber arises from the detail of some of its properties such as abrasion and temperature resistance, making it the best choice for automotive industries. This type of carbon is relatively highly used especially in tires and other automobile parts. The elevating chemical industry and the world's speedy industrialization stimulate the demand for synthetic rubber in industrial operations such as rubber parts, anti-vibration, wipers, hoses, seals, and gaskets.

Browse the full report description of “Synthetic Rubber Market Size, Share & Trends Analysis Report by Type (Styrene Butadiene Rubber (BR), Polybutadiene (BR), Ethylene Propylene (EPDM), Nitrile Butadiene Rubber (NBR), Isoprene Rubber (IR), Chloroprene Rubber (Cr), Butyl Rubber (IIR), and Others), and by End-User (Tires, Industrial application, Electronics, Footwear, Household, and Others) Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/synthetic-rubber-market-size

Recent Developments

• In April 2023, Sinopec declared enhanced capacities of Styrene Butadiene (SBC) by 170000 tons per annum. This increase was done in manufacturing sites within the Hainan region in China. The expansion of the company’s capacity was aimed at expanding into the Chinese market. 

• In July 2021, Kumho Petrochemical acquired 50.0% of the Kumho Polychem shares owned by the joint venture partner from Japan’s JSR Corporation. 

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Product

o By End-user

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- ARLANXEO, China Petrochemical Corp. (Sinopec), Kumho Petrochemical, PetroChina Co. Ltd., and Exxon Mobil Corp.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Synthetic Rubber Market Report Segment-

By Product

• Styrene Butadiene Rubber (SBR)
• Polybutadiene (Br)
• Ethylene Propylene (EPDM)
• Nitrile Butadiene Rubber (NBR)
• Isoprene Rubber (IR)
• Chloroprene Rubber (CR)
• Butyl Rubber (IIR)
• Other

By End-user

• Tires
• Industrial Application
• Electronics
• Footwear
• Household
• Others

Global Synthetic Rubber Market Report Segment By Region

North America

• United States

• Canada 

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• Middle East & Africa

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