The post Synthetic Rubber Market to Witness Massive Growth from 2023 to 2030 appeared first on Newstrail.com authored by Contrived Datum Insights

The Synthetic Rubber Market outlook that looks very promising is a valuable source of insightful data for business strategists. It provides an industry overview with growth analysis and historical and future cost, revenue, and demand and supply data (if applicable). Research analysts provide sophisticated descriptions of value chains, future roadmaps and strategies. This market study provides comprehensive data that enhances the understanding, scope and application of this report. Our reports are a single point solution for businesses to grow, evolve and mature.

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The COVID-19 pandemic has been shocking and has never happened before. Compared to what it was before the pandemic, demand is lower than expected in all areas. Our research shows that the world market was 8.0% smaller in 2020 than in 2019.

Synthetic Rubber is a type of rubber that is made in a lab. It is made, among other things, from coal, oil, natural gas, and acetylene. The product has a lot of good qualities, like being able to be recycled, having a higher tensile strength, and being resistant to swelling and wear. More and more companies are doing research and development to make their products better, which will increase the demand for rubber products. The fast growth of the aerospace, automotive, and construction industries, as well as the growing demand for rubber from the tyre and electronics industries, will drive the growth of the market.

Top Leading Companies of Global Synthetic Rubber Market are Indian Synthetic Rubber Private Limited (India), Apcotex Industries Limited (India), Reliance Industries Limited. (India), Trinseo (U.S.), Goodyear Tire and Rubber Company (U.S.), Sinopec (China), LANXESS (Germany), TSRC Corporation (Taiwan), JSR Corporation (Japan), Kumho Petrochemical (South Korea), Nizhnekamskneftekhim (Russia), others.

Industry News:

• March 2021 – Kumho Petrochemical acquired a 50% stake in Kumho Polychem held by joint venture partner JSR Corporation. The acquisition will strengthen our competitive edge and establish our leadership in the industry over many years.
• August 2021 – BASF and SINOPEC have expanded the Verbund site operated by BASF-YPC Co., Ltd., a 50-50 joint venture in China. This includes capacity increases at downstream chemical plants, such as a new tert-butyl acrylate plant to serve the growing Chinese market.

Market Segmentation:

By Type:

• Styrene Butadiene Rubber
• Nitrile Rubber
• Polybutadiene Rubber
• Butyl Rubber
• Others

By Application:

• Tire
• Non-tire Automotive
• Industrial Rubber Goods
• Footwear
• Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2023-2030) of the following regions are covered

• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
• South America (Brazil, Argentina, Columbia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Regional Insights:

In the Asia-Pacific region, the size of the market in 2021 was USD 15.13 billion. Styrene-butadiene rubber and nitrile rubber are being used more in construction, which is a big reason for the growth. The market will also grow because products will get better and infrastructure will get better. China has the largest share of the market for synthetic rubber in this area. This is because they make more kinds of tyres and other products that don’t have to do with cars than any other country.

The second largest market in the world is in Europe. The fast growth of the automotive industry and the rising demand for tyres, belts, and hoses will drive the growth of the market in this area.

The rapid use of nitrile rubber in industrial goods and the rising demand for synthetic rubber caulk, crossword, and adhesives in the top applications will drive the market growth in North America. The fast growth of the electrical and electronic and tyre industries will also help the market grow in this area.

Industrial rubber mats are used a lot in the oil and gas industry. More and more man-made rubber is being used in these mats. This will make people in the Middle East and Africa more likely to buy the product. Butyl rubber is being used to make more and more shoes and other rubber goods in Latin America.

Table of Contents Synthetic Rubber Market

Chapter 1: Synthetic Rubber Market Overview, Drivers, Restrictions and Opportunities, Segmentation Overview

Chapter 2: Market competition by manufacturers

Chapter 3: Production by regions

Chapter 4: Consumption by Regions

Chapter 5: Production, by segment, revenue and market share by types

Chapter 6: Consumption, by segment, market share (%) and growth rate by segment

Chapter 7: Profiling and comprehensive analysis of Producers

Chapter 8: Production Cost Analysis, Raw Material Analysis, Regional Production Expenses.

Chapter 9: Industrial chain, sourcing strategy and downstream buyers

Chapter 10: Marketing strategy analysis, distributors / merchants

Chapter 11: Market Effect Factors Analysis

Chapter 12: Market Forecasts

Chapter 13:  Synthetic Rubber Market Research findings and conclusions, Appendix, methodology and data source.

Some of the key questions answered in this report

-What is the market size, share of the market?
-Who are the top market players operating in the Synthetic Rubber market?
-What are sales, revenue, and price analysis by regions of industries?
-What are the modes and strategic moves considered suitable for entering the global Synthetic Rubber market?
-What are the leading trends that are completely impacting the growth of the market?
-What were the pre-and post-business impacts of Covid-19 on the Synthetic Rubber Market?

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