Synthetic Rubber Market

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Synthetic Rubber Market by Type (SBR, BR, SBC, EPDM, IIR, NBR) Application (Tire, Automotive (Non-tire), Footwear, Industrial Goods, Consumer Goods, Textiles), and Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2027

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Report Code: CH 1217 Oct, 2022, by marketsandmarkets.com

Global Synthetic Rubber Market

The global synthetic rubber market size was valued at USD 23.0 billion in 2022 and is projected to reach USD 28.9 billion by 2027, growing at a cagr 4.6% from 2022 to 2027. The market is driven by the tire segment, which is the largest end-use segment of synthetic rubber during the forecast period, followed by automotive (non-tire) in terms of volume. The applications of synthetic rubber in the automotive industry will increase as the EV market gains traction. APAC is dominating region for tire and automotive (non-tire) sector in the countries like China, Japan, India, South Korea, Indonesia, Thailand, and Malaysia.

Attractive Opportunities in the Synthetic Rubber Market

Synthetic Rubber Market

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Synthetic Rubber Market Dynamics

Driver: Growing penetration of EVs

Since 2019, decreased sales, shifting consumer preferences toward EVs, changing regulatory frameworks, a trend toward car rentals and ridesharing, declining per-capita spending, and economic depression in various nations have all had an impact on conventional automobile production. The demand for automobiles decreased in 2020 as a result of the COVID-19 pandemic and the subsequent suspension of manufacturing operations. In comparison to 2020, global sales of all vehicle categories increased by 4.72% in 2021.

The National Investment Promotion and Facilitation Agency of India claims that the manufacturing of electric vehicles will surpass 3 million units for the first time in 2020. In the near future, more electric vehicles are anticipated to be in demand. By 2027, the global automobile industry is anticipated to generate USD 300 billion. Synthetic rubber is used in electric vehicles due to its high-performance characteristics compared to traditional metals and other materials. The government's backing of EVS policies and the shifting regulatory scenario both contribute to the synthetic rubber market's expansion. Because of incentives provided through green recovery funds, EV sales in Europe increased by 137% during the COVID-19. In terms of sales, Europe has surpassed China and is expected to increase significantly over the next few years.

More than 50% of the world's automobiles are produced in the Asia-Pacific region. In terms of production, South Asian nations, China, India, and Japan are largely involved. The automotive industry's technological advancements and innovations will further expand the market for synthetic rubber in these countries. By 2022, it is expected that the Asian automobile market will recover with steady improvement in the Chinese automotive industry.

Thus, with the recovery of the automotive industry and increasing penetration of EVs worldwide, the demand for synthetic rubber is expected to increase during the forecast period.

Restraints: Environmental regulation and health hazards in synthetic rubber manufacturing industry

The production of synthetic rubber has been limited as a result of the rigorous environmental regulations. The production of sealants, tire manufacturing facilities, and rubber processing are three primary sources of hazardous air pollutants (HAP) emissions, according to the Environmental Protection Agency (EPA). For instance, the manufacture of butadiene rubber (BR), a type of synthetic rubber, results in the release of dangerous compounds like carbon dioxide, carbon monoxide, and other harmful fumes and gases. There are a number of regulations for the synthetic rubber industry; for instance, butadiene was listed as a toxic substance under the Canadian Environmental Protection Act, 1999 (CEPA 1999). Such regulations have restricted the growth of the global synthetic rubber market.

Butadiene, styrene, acrylonitrile, and polymerization catalysts such as hydrogen peroxide, sodium perborate, and organic peroxides are among the chemicals used in the production of synthetic rubber. For humans, excessive exposure can be fatal. During production, exposure to SBR has caused the death of workers due to leukemia. Additionally, butadiene rubber (BR) exposure has detrimental effects on health. When inhaled, it is regarded as a special health hazard chemical. It is considered to be cancer-causing when it comes into contact with the skin and can irritate the nose, throat, and lungs. Overexposure to polybutadiene has a negative impact on the central nervous system and can cause symptoms like dizziness, vertigo, fatigue, and fainting. These problems collectively prevent the synthetic rubber market from expanding.

Opportunity: Growing demand for high-performance and eco-friendly tires

European and North American countries are adopting stringent regulations, such as Euro VI and CAFE, which make tire manufacturers focus on developing green and high-performance tires. The demand for eco-friendly products like green tires has increased as a result of growing concern over the deteriorating environmental conditions.

According to the 2012 European Tire labelling Regulation, the labelling of tyres must include information about their fuel efficiency, wet grip, and external rolling resistance. This rule has helped in raising consumer awareness of the benefits of using eco-friendly high-performance tyres. OEMs launched fuel-efficient tyres with low rolling resistance as a result, concentrating on tyre performance and fuel economy. Tier 1 manufacturers are using eco-friendly rubber material. For instance, LANXESS provides neodymium rubber that helps in the reduction of rolling resistance, thereby increasing the fuel economy. The company also provides products that are used in green tire manufacturing. Thus, the demand for high-performance and eco-friendly tires provides opportunities for the market players.

Challenges: Volatile raw material prices

One of the main issues that the companies in the synthetic rubber market must deal with is the volatile price of raw materials. Because of the intense competition on the synthetic rubber market, prices might shift significantly depending on how the supply and demand are balanced. The cost structure of synthetic rubber products is mostly determined by the price and availability of raw ingredients. Since crude oil is used as the feedstock for the production of synthetic rubber, any increase in the price of crude oil raises the cost of production and lowers the profit margins for synthetic rubber producers. For many end users in the worldwide synthetic rubber market, cost is a key deciding factor.

High manufacturing costs driven by rising energy prices and high transport costs also have an impact on the synthetic rubber sector. Given that some end-use segments are price sensitive, synthetic rubber manufacturers have responded by passing on such rising prices to consumers, which reduces demand for synthetic rubber.

Synthetic Rubber Market Ecosystem Diagram

Synthetic Rubber Market Ecosystem

Automotive (non-tire): the second largest end use application of synthetic rubber market

The automotive industry is the second-largest application of synthetic rubber. They are used in hoses for air-conditioning, engine seals, dashboards, exterior filler panels, wipers, body seals, door & window handles, vibration-damping pads, and vehicle mats. The synthetic rubbers with significant strength are replacing metal parts in vehicles. This reduces the weight of the vehicle and helps in increasing its fuel efficiency without compromising the performance. The trend of reducing greenhouse gas emissions in vehicles has increased the demand for synthetic rubbers in the automotive industry. Synthetic rubbers are also used in various applications such as mastic adhesives, spot sealers, and adhesives used in brakes. The synthetic rubber-based coatings and adhesives have high resistance to moisture, acids, abrasion, corrosion, and slipping. They also provide a controlled grip and remain flexible over a long period without cracking.

APAC is estimated to be the fastest-growing synthetic rubber market.

In terms of volume and value, APAC dominated the synthetic rubber market in 2021, followed by Europe and North America. The APAC region is anticipated to experience the highest rise in synthetic rubber use throughout the forecast period. The recovery of the automobile (non-tire) and tyre industries in China and Southeast Asian nations is driving this industry. As the EV industry develops pace, international automobile manufacturers are investing in APAC nations to set up their manufacturing facilities in order to strengthen their market presence in the area. China is the world's biggest consumer of synthetic rubber and an important market for automobiles. In China, the automotive industry will be driven by the development of New Energy Vehicles (NEVS) in an effort to minimise carbon emissions, which will boost demand for synthetic rubber throughout the forecast period

Synthetic Rubber Market by Region

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Synthetic Rubber Market Players

The leading players in the synthetic rubber market are Sinopec (China), DuPont (U.S), The Dow Chemical Company (U.S), ExxonMobil (U.S), Kumho Petrochemical Company Ltd (South Korea), Zeon Corporation (Japan), Nizhnekamskneftekhim (Russia), The Goodyear Tire and Rubber Company (U.S), Mitsui Chemical Inc. (Japan), JSR Corporation (Japan), SABIC (Saudi Arabia), Denka Company Ltd. (Japan), and Asahi Kasei Corporation (Japan).

Synthetic Rubber Market Report Scope

Report Metric

Details

Market Size Value in 2022

USD 23.0 Billion

Revenue Forecast in 2027

USD 28.9 Billion

CAGR

4.6%

Years Considered

2020–2027

Base year

2021

Forecast period

2022–2027

Unit considered 

Value (USD Million/USD Billion), Volume (Kilotons)

Segments

Type, Application, and Region

Regions

APAC, North America, Europe, Middle East & Africa, and South America

Companies

The major players are Company Sinopec (China), DuPont (U.S), The Dow Chemical Company (U.S), ExxonMobil (U.S), Kumho Petrochemical Company Ltd (South Korea), Trinseo (U.S), Zeon Corporation (Japan), Nizhnekamskneftekhim (Russia), The Goodyear Tire and Rubber Company (U.S), Mitsui Chemical Inc. (Japan), JSR Corporation (Japan), SABIC (Saudi Arabia), Denka Company Ltd. (Japan), and Others.

 

This research report categorizes the synthetic rubber market on the basis of type, application, and region.

 

On the basis of Type:

  • Styrene butadiene rubber (SBR)
  • Polybutadiene Rubber (BR)
  • Styrene block copolymer (SBC)
  • Ethylene-propylene-diene rubber (EPDM)
  • Butyl rubber (IIR)
  • Acrylonitrile-butadiene rubber (NBR)

On the basis of Application:

  • Tire
  • Automotive (Non-tire)
  • Footwear
  • Industrial Goods
  • Consumer Goods
  • Textiles
  • Others

On the basis of Region:

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)
  • South America

The market has been further analyzed for the key countries in each of these regions.

Recent Developments

  • In December 2021, The Dow Chemical Company expanded its fluorosilicone rubber capabilities in Midland, Michigan, by installing a new gum mixer, and a new liquid silicone rubber mixer was added in Zhangjiagang, China. It also invested in a pair of new mixers for thermally conductive technologies at its facility in Songjiang, China.
  • In November 2021, DuPont has acquired Rogers Corporation. The company entered into a definitive agreement to acquire Rogers Corporation with the deal size of USD 5.2 billion.
  • December 2021, Asahi Kasei Corporation has entered into a Joint Venture with Shell Eastern Petroleum (Pte) Ltd. The company collaborated with Shell to manufacture Solution-Polymerized Styrene-Butadiene Rubber (S-SBR). The company concluded its agreement regarding the supply of butadiene derived from plastic waste and biomass.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 30)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION
           1.2.1 INCLUSIONS AND EXCLUSIONS
                    FIGURE 1 SYNTHETIC RUBBER MARKET SEGMENTATION
           1.2.2 REGIONS COVERED
           1.2.3 YEARS CONSIDERED
    1.3 CURRENCY CONSIDERED
    1.4 UNIT CONSIDERED
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 34)
    2.1 RESEARCH DATA
          FIGURE 2 SYNTHETIC RUBBER MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Critical secondary inputs
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Critical primary inputs
                    2.1.2.2 Key data from primary sources
                    2.1.2.3 Key industry insights
                    2.1.2.4 Breakdown of primary interviews
    2.2 MARKET SIZE ESTIMATION APPROACH
           2.2.1 MARKET SIZE ESTIMATION (BOTTOM-UP APPROACH): ASSESSMENT OF OVERALL SYNTHETIC RUBBER MARKET SIZE BASED ON INDIVIDUAL PRODUCT MARKET SIZE
                    FIGURE 3 MARKET SIZE ESTIMATION: SUPPLY-SIDE ANALYSIS
                    FIGURE 4 MARKET SIZE ESTIMATION: BY TYPE
           2.2.2 ESTIMATING SYNTHETIC RUBBER MARKET SIZE FROM MARKET SHARE OF KEY APPLICATIONS
                    FIGURE 5 MARKET SIZE ESTIMATION: DEMAND-SIDE ANALYSIS
    2.3 DATA TRIANGULATION
          FIGURE 6 SYNTHETIC RUBBER MARKET: DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS

3 EXECUTIVE SUMMARY (Page No. - 43)
    FIGURE 7 SBR ACCOUNTED FOR LARGEST MARKET SHARE IN 2021
    FIGURE 8 TIRE SEGMENT DOMINATED SYNTHETIC RUBBER MARKET IN 2021
    FIGURE 9 ASIA PACIFIC DOMINATED GLOBAL SYNTHETIC RUBBER MARKET IN 2021

4 PREMIUM INSIGHTS (Page No. - 46)
    4.1 OVERVIEW OF SYNTHETIC RUBBER MARKET
          FIGURE 10 GROWING DEMAND IN TIRE APPLICATION TO DRIVE MARKET
    4.2 ASIA PACIFIC SYNTHETIC RUBBER MARKET, BY TYPE  AND COUNTRY (2021)
          FIGURE 11 SBR SEGMENT AND CHINA ACCOUNTED FOR LARGEST SHARES
    4.3 GLOBAL SYNTHETIC RUBBER MARKET, BY KEY COUNTRIES
          FIGURE 12 SAUDI ARABIA TO REGISTER HIGHEST CAGR

5 MARKET OVERVIEW (Page No. - 48)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
          FIGURE 13 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN SYNTHETIC RUBBER MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Growing penetration of electric vehicles
                                TABLE 1 TYPE OF RUBBER USED IN ELECTRIC VEHICLES AND INTERNAL COMBUSTION ENGINES
                    5.2.1.2 Stringent emission regulations and standards in developed economies
                    5.2.1.3 Increasing demand in Asia Pacific
           5.2.2 RESTRAINTS
                    5.2.2.1 Health hazards associated with production of synthetic rubber
                    5.2.2.2 Economic slowdown and impact of COVID-19 on manufacturing sector
                                FIGURE 14 EUROPE: MANUFACTURING INDUSTRY OUTPUT INDEX
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Growing demand for high-performance and eco-friendly tires
           5.2.4 CHALLENGES
                    5.2.4.1 Volatile raw material prices
                                FIGURE 15 FLUCTUATIONS IN CRUDE OIL PRICES DURING 2010–2021
    5.3 PORTER'S FIVE FORCES ANALYSIS
          FIGURE 16 SYNTHETIC RUBBER MARKET: PORTER'S FIVE FORCES ANALYSIS
           5.3.1 BARGAINING POWER OF SUPPLIERS
           5.3.2 THREAT OF NEW ENTRANTS
           5.3.3 THREAT OF SUBSTITUTES
           5.3.4 BARGAINING POWER OF BUYERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 2 SYNTHETIC RUBBER MARKET: PORTER’S FIVE FORCES ANALYSIS
    5.4 ECOSYSTEM/MARKET MAPPING
    5.5 TECHNOLOGY ANALYSIS
           5.5.1 ZIEGLER-NATTA CATALYST
           5.5.2 METALLOCENE CATALYST
           5.5.3 ACE TECHNOLOGY
           5.5.4 AMC TECHNOLOGY
           5.5.5 BIO-BASED EPDM
    5.6 REGULATORY LANDSCAPE
           5.6.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 3 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 4 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 5 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.7 PRICING ANALYSIS
          FIGURE 17 CRUDE OIL PRICES, 2010–2021 (USD/BARREL)
    5.8 CASE STUDY
           5.8.1 ETHYLENE PROPYLENE DIENE MONOMER RUBBER ROOFING MEMBRANE – IDEAL CHOICE FOR POOLING APPLICATION
           5.8.2 ETHYLENE PROPYLENE DIENE MONOMER RUBBER ROOFING MEMBRANE – IDEAL CHOICE FOR GREEN ROOF APPLICATION
    5.9 TRADE ANALYSIS
          TABLE 6 SYNTHETIC RUBBER EXPORTS, BY COUNTRY, 2021 (USD MILLION)
          TABLE 7 SYNTHETIC RUBBER IMPORTS, BY COUNTRY, 2021 (USD MILLION)
          TABLE 8 SYNTHETIC RUBBER EXPORTS, BY COUNTRY, 2021 (TON)
          TABLE 9 SYNTHETIC RUBBER IMPORTS, BY COUNTRY, 2021 (TON)
    5.10 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
           FIGURE 18 NEXT-GEN MOBILITY, LIGHTWEIGHTING, DIGITALIZATION, AND IMPROVED MEDICAL CARE TO CHANGE REVENUE MIX OF SUPPLIERS
           TABLE 10 SYNTHETIC RUBBER MARKET: YC & YCC SHIFT
    5.11 MACROECONOMIC INDICATORS
           5.11.1 AUTOMOTIVE INDUSTRY
                     TABLE 11 PRODUCTION OF PASSENGER CARS, COMMERCIAL VEHICLES, TRUCKS, AND BUSES, 2019–2021
                     TABLE 12 WORLD GDP GROWTH PROJECTION (2021–2023)
    5.12 SUPPLY CHAIN ANALYSIS
           TABLE 13 SYNTHETIC RUBBER MARKET: SUPPLY CHAIN
           FIGURE 19 SYNTHETIC RUBBER MARKET: SUPPLY CHAIN ANALYSIS
    5.13 VALUE CHAIN ANALYSIS
           5.13.1 INTRODUCTION
                     FIGURE 20 SYNTHETIC RUBBER MARKET: VALUE CHAIN ANALYSIS
    5.14 KEY CONFERENCES & EVENTS IN 2022–2023
    5.15 PATENT ANALYSIS
           5.15.1 INTRODUCTION
           5.15.2 METHODOLOGY
           5.15.3 DOCUMENT TYPE
                     FIGURE 21 TOTAL NUMBER OF PATENTS
           5.15.4 PUBLICATION TRENDS
                     FIGURE 22 NUMBER OF PATENTS YEAR-WISE IN LAST 10 YEARS
           5.15.5 TOP PATENT APPLICANTS
                     FIGURE 23 TOP 10 PATENT APPLICANTS
           5.15.6 JURISDICTION ANALYSIS
                     FIGURE 24 SHARE OF PATENTS, BY JURISDICTION

6 SYNTHETIC RUBBER MARKET, BY TYPE (Page No. - 77)
    6.1 INTRODUCTION
          FIGURE 25 SBR TO HOLD LARGEST MARKET SHARE BY 2027
          TABLE 14 SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
          TABLE 15 SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
    6.2 STYRENE BUTADIENE RUBBER (SBR)
           6.2.1 GROWTH OF TIRE INDUSTRY TO DRIVE DEMAND
                    TABLE 16 STYRENE BUTADIENE RUBBER MARKET SIZE, BY REGION, 2020–2027 (KILOTON)
                    TABLE 17 STYRENE BUTADIENE RUBBER MARKET SIZE, BY REGION, 2020–2027 (USD MILLION)
    6.3 POLYBUTADIENE RUBBER (BR)
           6.3.1 INCREASING CONSUMPTION IN ASIA PACIFIC TO SUPPORT MARKET GROWTH
                    TABLE 18 POLYBUTADIENE RUBBER MARKET SIZE, BY REGION, 2020–2027 (KILOTON)
                    TABLE 19 POLYBUTADIENE RUBBER MARKET SIZE, BY REGION, 2020–2027 (USD MILLION)
    6.4 STYRENIC BLOCK COPOLYMER (SBC)
           6.4.1 GROWTH OF AUTOMOTIVE INDUSTRY TO BOOST MARKET
                    TABLE 20 STYRENIC BLOCK COPOLYMER MARKET SIZE, BY REGION, 2020–2027 (KILOTON)
                    TABLE 21 STYRENIC BLOCK COPOLYMER MARKET SIZE, BY REGION, 2020–2027 (USD MILLION)
    6.5 ETHYLENE PROPYLENE DIENE MONOMER (EPDM)
           6.5.1 ASIA PACIFIC AUTOMOTIVE INDUSTRY TO DRIVE MARKET
                    TABLE 22 ETHYLENE PROPYLENE DINE MONOMER MARKET SIZE, BY REGION,  2020–2027 (KILOTON)
                    TABLE 23 ETHYLENE PROPYLENE DINE MONOMER MARKET SIZE, BY REGION,  2020–2027 (USD MILLION)
    6.6 BUTYL RUBBER (IIR)
           6.6.1 FAVORABLE PROPERTIES TO PROPEL MARKET IN AUTOMOTIVE INDUSTRY
                    FIGURE 26 DEMAND FOR IIR (2020)
                    TABLE 24 BUTYL RUBBER MARKET SIZE, BY REGION, 2020–2027 (KILOTON)
                    TABLE 25 BUTYL RUBBER MARKET SIZE, BY REGION, 2020–2027 (USD MILLION)
    6.7 ACRYLONITRILE BUTADIENE RUBBER (NBR)
           6.7.1 MARKET IN ASIA PACIFIC TO REGISTER STEADY GROWTH
                    TABLE 26 ACRYLONITRILE BUTADIENE RUBBER MARKET SIZE, BY REGION, 2020–2027 (KILOTON)
                    TABLE 27 ACRYLONITRILE BUTADIENE RUBBER MARKET SIZE, BY REGION,  2020–2027 (USD MILLION)
    6.8 OTHERS
          TABLE 28 OTHERS: SYNTHETIC RUBBER MARKET SIZE, BY REGION, 2020–2027 (KILOTON)
          TABLE 29 OTHERS: SYNTHETIC RUBBER MARKET SIZE, BY REGION, 2020–2027 (USD MILLION)

7 SYNTHETIC RUBBER MARKET, BY APPLICATION (Page No. - 89)
    7.1 INTRODUCTION
          FIGURE 27 TIRE SEGMENT TO BE LARGEST APPLICATION OF SYNTHETIC RUBBER
          TABLE 30 SYNTHETIC RUBBER MARKET, BY APPLICATION
          TABLE 31 SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (KILOTON)
          TABLE 32 SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (USD MILLION)
    7.2 TIRE
           7.2.1 RECOVERY OF AUTOMOTIVE INDUSTRY FROM IMPACT OF COVID-19 TO PROPEL MARKET
                    FIGURE 28 GLOBAL TIRE MARKET SHARE, BY KEY COMPANIES, 2020
           7.2.2 IMPACT OF DISRUPTIVE TECHNOLOGIES ON TIRES AND TUBES
                    FIGURE 29 EV TIRES: INCREASE IN DEMAND FOR PERFORMANCE
                    TABLE 33 SYNTHETIC RUBBER MARKET SIZE IN TIRE SEGMENT, BY REGION, 2020–2027 (KILOTON)
                    TABLE 34 SYNTHETIC RUBBER MARKET SIZE IN TIRE SEGMENT, BY REGION,  2020–2027 (USD MILLION)
    7.3 AUTOMOTIVE (NON-TIRE)
           7.3.1 GROWING EV PRODUCTION TO DRIVE MARKET
                    TABLE 35 SYNTHETIC RUBBER MARKET SIZE IN AUTOMOTIVE (NON-TIRE) SEGMENT, BY REGION, 2020–2027 (KILOTON)
                    TABLE 36 SYNTHETIC RUBBER MARKET SIZE IN AUTOMOTIVE (NON-TIRE) SEGMENT, BY REGION, 2020–2027 (USD MILLION)
    7.4 FOOTWEAR
           7.4.1 ADVANCED PROPERTIES IMPARTED BY SYNTHETIC RUBBER TO DRIVE MARKET
                    FIGURE 30 GLOBAL FOOTWEAR PRODUCTION SHARE, BY COUNTRY, 2020
                    TABLE 37 SYNTHETIC RUBBER MARKET SIZE IN FOOTWEAR SEGMENT, BY REGION, 2020–2027 (KILOTON)
                    TABLE 38 SYNTHETIC RUBBER MARKET SIZE IN FOOTWEAR SEGMENT, BY REGION,  2020–2027 (USD MILLION)
    7.5 INDUSTRIAL GOODS
           7.5.1 STEADY RECOVERY IN MANUFACTURING SECTOR TO PROPEL MARKET
                    FIGURE 31 TOTAL INDUSTRY PRODUCTION OUTPUT INDEX OF OECD COUNTRIES,  Q2-2019–Q1-2021
                    TABLE 39 SYNTHETIC RUBBER MARKET SIZE IN INDUSTRIAL GOODS SEGMENT, BY REGION,  2020–2027 (KILOTON)
                    TABLE 40 SYNTHETIC RUBBER MARKET SIZE IN INDUSTRIAL GOODS SEGMENT, BY REGION,  2020–2027 (USD MILLION)
    7.6 CONSUMER GOODS
           7.6.1 CHANGING DEMAND FROM CONSUMERS IN APPAREL AND SPORTSWEAR SEGMENTS TO FAVOR MARKET GROWTH
                    TABLE 41 SYNTHETIC RUBBER MARKET SIZE IN CONSUMER GOODS SEGMENT, BY REGION, 2020–2027 (KILOTON)
                    TABLE 42 SYNTHETIC RUBBER MARKET SIZE IN CONSUMER GOODS SEGMENT, BY REGION,  2020–2027 (USD MILLION)
    7.7 TEXTILES
           7.7.1 INCREASING USE OF SYNTHETIC RUBBER TO CONTRIBUTE TO MARKET GROWTH
                    TABLE 43 SYNTHETIC RUBBER MARKET SIZE IN TEXTILES SEGMENT, BY REGION, 2020–2027 (KILOTON)
                    TABLE 44 SYNTHETIC RUBBER MARKET SIZE IN TEXTILES SEGMENT, BY REGION,  2020–2027 (USD MILLION)
    7.8 OTHERS
          TABLE 45 SYNTHETIC RUBBER MARKET SIZE IN OTHERS SEGMENT, BY REGION,  2020–2027 (KILOTON)
          TABLE 46 SYNTHETIC RUBBER MARKET SIZE IN OTHERS SEGMENT, BY REGION, 2020–2027 (USD MILLION)

8 SYNTHETIC RUBBER MARKET, BY REGION (Page No. - 104)
    8.1 INTRODUCTION
          FIGURE 32 RAPIDLY GROWING MARKETS TO EMERGE AS NEW HOTSPOTS
          TABLE 47 SYNTHETIC RUBBER MARKET SIZE, BY REGION, 2020–2027 (KILOTON)
          TABLE 48 SYNTHETIC RUBBER MARKET SIZE, BY REGION, 2020–2027 (USD MILLION)
    8.2 ASIA PACIFIC
          FIGURE 33 ASIA PACIFIC: SYNTHETIC RUBBER MARKET SNAPSHOT
          TABLE 49 ASIA PACIFIC: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2020–2027 (KILOTON)
          TABLE 50 ASIA PACIFIC: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY,  2020–2027 (USD MILLION)
          TABLE 51 ASIA PACIFIC: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
          TABLE 52 ASIA PACIFIC: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
          TABLE 53 ASIA PACIFIC: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
          TABLE 54 ASIA PACIFIC: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.2.1 CHINA
                    8.2.1.1 Growing industrialization to drive demand for synthetic rubber
                                TABLE 55 CHINA: TIRE PRODUCTION IN 2015–2020 (MILLION UNIT)
                                TABLE 56 CHINA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 57 CHINA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (USD MILLION)
                                TABLE 58 CHINA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (KILOTON)
                                TABLE 59 CHINA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (USD MILLION)
           8.2.2 JAPAN
                    8.2.2.1 Emission standards to fuel market
                                FIGURE 34 JAPAN: AUTOMOBILE PRODUCTION, 2010–2021
                                TABLE 60 JAPAN: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 61 JAPAN: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 62 JAPAN: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                                TABLE 63 JAPAN: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.2.3 SOUTH KOREA
                    8.2.3.1 Increasing automobile manufacturing to push demand for synthetic rubber
                                TABLE 64 SOUTH KOREA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 65 SOUTH KOREA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 66 SOUTH KOREA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                                TABLE 67 SOUTH KOREA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.2.4 INDIA
                    8.2.4.1 One of fastest-growing markets for synthetic rubber by volume
                                TABLE 68 INDIA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 69 INDIA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 70 INDIA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (KILOTON)
                                TABLE 71 INDIA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.2.5 ASEAN COUNTRIES
                    8.2.5.1 Lucrative opportunities for tire manufacturers
                                TABLE 72 ASEAN COUNTRIES: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (KILOTON)
                                TABLE 73 ASEAN COUNTRIES: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (USD MILLION)
                                TABLE 74 ASEAN COUNTRIES: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (KILOTON)
                                TABLE 75 ASEAN: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (USD MILLION)
           8.2.6 AUSTRALIA & NEW ZEALAND (ANZ)
                    8.2.6.1 Growth in automotive sector to drive market
                                TABLE 76 AUSTRALIA & NEW ZEALAND: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 77 AUSTRALIA & NEW ZEALAND: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (USD MILLION)
                                TABLE 78 AUSTRALIA & NEW ZEALAND: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                                TABLE 79 AUSTRALIA & NEW ZEALAND: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.2.7 REST OF ASIA PACIFIC
                    TABLE 80 REST OF ASIA PACIFIC: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (KILOTON)
                    TABLE 81 REST OF ASIA PACIFIC: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (USD MILLION)
                    TABLE 82 REST OF ASIA PACIFIC: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                    TABLE 83 REST OF ASIA PACIFIC: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
    8.3 NORTH AMERICA
          FIGURE 35 NORTH AMERICA: AUTOMOBILE PRODUCTION, 2019–2021
          TABLE 84 NORTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY,  2020–2027 (KILOTON)
          TABLE 85 NORTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY,  2020–2027 (USD MILLION)
          TABLE 86 NORTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
          TABLE 87 NORTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
          TABLE 88 NORTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
          TABLE 89 NORTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.3.1 US
                    8.3.1.1 Increasing automotive exports to drive market
                                TABLE 90 US: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 91 US: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 92 US: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (KILOTON)
                                TABLE 93 US: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.3.2 CANADA
                    8.3.2.1 Policies related to EV to drive demand for synthetic rubber
                                TABLE 94 CANADA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 95 CANADA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 96 CANADA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (KILOTON)
                                TABLE 97 CANADA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.3.3 MEXICO
                    8.3.3.1 Growth in automotive sector to drive market
                                TABLE 98 MEXICO: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 99 MEXICO: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 100 MEXICO: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                                TABLE 101 MEXICO: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
    8.4 EUROPE
          FIGURE 36 EUROPE: SYNTHETIC RUBBER MARKET SNAPSHOT
          FIGURE 37 EUROPE: AUTOMOBILE PRODUCTION AND Y-O-Y GROWTH (%), 2017–2021
          TABLE 102 EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2020–2027 (KILOTON)
          TABLE 103 EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2020–2027 (USD MILLION)
          TABLE 104 EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
          TABLE 105 EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
          TABLE 106 EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
          TABLE 107 EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.4.1 GERMANY
                    8.4.1.1 Government support to boost EV market
                                FIGURE 38 GERMANY: AUTOMOBILE PRODUCTION AND EXPORTS, 2018–2021
                                TABLE 108 GERMANY: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 109 GERMANY: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 110 GERMANY: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                                TABLE 111 GERMANY: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.4.2 UK
                    8.4.2.1 Expected recovery of automotive industry to drive market
                                TABLE 112 UK: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 113 UK: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 114 UK: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (KILOTON)
                                TABLE 115 UK: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.4.3 FRANCE
                    8.4.3.1 Growing consumption of synthetic rubber in EV to drive market
                                TABLE 116 FRANCE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 117 FRANCE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 118 FRANCE: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                                TABLE 119 FRANCE: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (USD MILLION)
           8.4.4 RUSSIA
                    8.4.4.1 Market hampered by sharp decline in automobile production
                                TABLE 120 RUSSIA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 121 RUSSIA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 122 RUSSIA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                                TABLE 123 RUSSIA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (USD MILLION)
           8.4.5 ITALY
                    8.4.5.1 Increasing EV sales to drive market
                                TABLE 124 ITALY: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 125 ITALY: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 126 ITALY: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (KILOTON)
                                TABLE 127 ITALY: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.4.6 SPAIN
                    8.4.6.1 Significant recovery of economy and automotive industry  to propel market
                                FIGURE 39 SPAIN: TOTAL AUTOMOBILE PRODUCTION, 2020
                                TABLE 128 SPAIN: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 129 SPAIN: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 130 SPAIN: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                                TABLE 131 SPAIN: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (USD MILLION)
           8.4.7 REST OF EUROPE
                    TABLE 132 REST OF EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                    TABLE 133 REST OF EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (USD MILLION)
                    TABLE 134 REST OF EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                    TABLE 135 REST OF EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
    8.5 MIDDLE EAST & AFRICA
          TABLE 136 MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY,  2020–2027 (KILOTON)
          TABLE 137 MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY,  2020–2027 (USD MILLION)
          TABLE 138 MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (KILOTON)
          TABLE 139 MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (USD MILLION)
          TABLE 140 MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
          TABLE 141 MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.5.1 SAUDI ARABIA
                    8.5.1.1 Vision 2030 and other government plans to boost  automotive industry
                                TABLE 142 SAUDI ARABIA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 143 SAUDI ARABIA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 144 SAUDI ARABIA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                                TABLE 145 SAUDI ARABIA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.5.2 UAE
                    8.5.2.1 Steady recovery of end-use industries from impact of COVID-19 to support market growth
                                TABLE 146 UAE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 147 UAE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 148 UAE: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (KILOTON)
                                TABLE 149 UAE: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.5.3 SOUTH AFRICA
                    8.5.3.1 New vehicle market to witness slow demand
                                TABLE 150 SOUTH AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 151 SOUTH AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 152 SOUTH AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                                TABLE 153 SOUTH AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.5.4 REST OF MIDDLE EAST & AFRICA
                    TABLE 154 REST OF MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (KILOTON)
                    TABLE 155 REST OF MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (USD MILLION)
                    TABLE 156 REST OF MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (KILOTON)
                    TABLE 157 REST OF MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (USD MILLION)
    8.6 SOUTH AMERICA
          TABLE 158 SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY,  2020–2027 (KILOTON)
          TABLE 159 SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2020–2027 (USD MILLION)
          TABLE 160 SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
          TABLE 161 SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (USD MILLION)
          TABLE 162 SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
          TABLE 163 SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.6.1 BRAZIL
                    8.6.1.1 Economic growth and growing automobile production to impact synthetic rubber demand
                                FIGURE 40 BRAZIL: TOTAL VEHICLE PRODUCTION, 2018–2021
                                TABLE 164 BRAZIL: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 165 BRAZIL: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 166 BRAZIL: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                                TABLE 167 BRAZIL: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)
           8.6.2 ARGENTINA
                    8.6.2.1 Increasing passenger car sales to drive market
                                TABLE 168 ARGENTINA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (KILOTON)
                                TABLE 169 ARGENTINA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2020–2027 (USD MILLION)
                                TABLE 170 ARGENTINA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                                TABLE 171 ARGENTINA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2020–2027 (USD MILLION)
           8.6.3 REST OF SOUTH AMERICA
                    TABLE 172 REST OF SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (KILOTON)
                    TABLE 173 REST OF SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,  2020–2027 (USD MILLION)
                    TABLE 174 REST OF SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (KILOTON)
                    TABLE 175 REST OF SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION,  2020–2027 (USD MILLION)

9 COMPETITIVE LANDSCAPE (Page No. - 170)
    9.1 INTRODUCTION
    9.2 STRATEGIES ADOPTED BY KEY PLAYERS
          TABLE 176 OVERVIEW OF STRATEGIES ADOPTED BY SYNTHETIC RUBBER MANUFACTURERS
    9.3 MARKET SHARE ANALYSIS
           9.3.1 RANKING OF KEY MARKET PLAYERS, 2021
                    FIGURE 41 RANKING OF TOP 5 PLAYERS IN SYNTHETIC RUBBER MARKET, 2021
           9.3.2 MARKET SHARE OF KEY PLAYERS, 2021
                    TABLE 177 SYNTHETIC RUBBER MARKET: MARKET SHARE OF KEY PLAYERS
                    FIGURE 42 SYNTHETIC RUBBER MARKET SHARE ANALYSIS
                    9.3.2.1 China Petroleum and Chemical Corporation
                    9.3.2.2 Kumho Petrochemical Co, Ltd.
                    9.3.2.3 PetroChina Company Limited
                    9.3.2.4 Exxon Mobil Corporation
                    9.3.2.5 Taiwan Synthetic Rubber Corporation
    9.4 COMPANY EVALUATION QUADRANT
           9.4.1 STARS
           9.4.2 PERVASIVE PLAYERS
           9.4.3 EMERGING LEADERS
           9.4.4 PARTICIPANTS
                    FIGURE 43 SYNTHETIC RUBBER MARKET: COMPANY EVALUATION QUADRANT, 2021
    9.5 START-UP/SMALL AND MEDIUM-SIZED ENTERPRISE (SME) EVALUATION QUADRANT
           9.5.1 PROGRESSIVE COMPANIES
           9.5.2 RESPONSIVE COMPANIES
           9.5.3 DYNAMIC COMPANIES
           9.5.4 STARTING BLOCKS
                    FIGURE 44 START-UP AND SMALL AND MEDIUM-SIZED ENTERPRISE (SMES) EVALUATION MATRIX, 2021
    9.6 COMPETITIVE BENCHMARKING
          TABLE 178 SYNTHETIC RUBBER MARKET: DETAILED LIST OF KEY PLAYERS
          TABLE 179 SYNTHETIC RUBBER MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS
    9.7 COMPETITIVE SCENARIO AND TRENDS
           9.7.1 DEALS
                    TABLE 180 SYNTHETIC RUBBER MARKET: DEALS
           9.7.2 OTHERS
                    TABLE 181 SYNTHETIC RUBBER MARKET: OTHERS

10 COMPANY PROFILES (Page No. - 181)
(Business overview, Products offered, Recent Developments, MNM view)*
     10.1 EXXON MOBIL CORPORATION
             TABLE 182 EXXON MOBIL CORPORATION: COMPANY OVERVIEW
             FIGURE 45 EXXON MOBIL CORPORATION: COMPANY SNAPSHOT
     10.2 THE DOW CHEMICAL COMPANY
             TABLE 183 THE DOW CHEMICAL COMPANY: COMPANY OVERVIEW
             FIGURE 46 THE DOW CHEMICAL COMPANY: COMPANY SNAPSHOT
     10.3 DUPONT
             TABLE 184 DUPONT: COMPANY OVERVIEW
             FIGURE 47 DUPONT: COMPANY SNAPSHOT
     10.4 CHINA PETROLEUM AND CHEMICAL CORPORATION
             TABLE 185 CHINA PETROLEUM AND CHEMICAL CORPORATION: COMPANY OVERVIEW
             FIGURE 48 CHINA PETROLEUM AND CHEMICAL CORPORATION: COMPANY SNAPSHOT
     10.5 ASAHI KASEI CORPORATION
             TABLE 186 ASAHI KASEI CORPORATION: COMPANY OVERVIEW
             FIGURE 49 ASAHI KASEI CORPORATION: COMPANY SNAPSHOT
     10.6 DENKA COMPANY LIMITED
             TABLE 187 DENKA COMPANY LIMITED: COMPANY OVERVIEW
             FIGURE 50 DENKA COMPANY LIMITED: COMPANY SNAPSHOT
     10.7 SABIC
             TABLE 188 SABIC: COMPANY OVERVIEW
             FIGURE 51 SABIC: COMPANY SNAPSHOT
     10.8 RELIANCE INDUSTRIES LTD.
             TABLE 189 RELIANCE INDUSTRIES LTD.: COMPANY OVERVIEW
             FIGURE 52 RELIANCE INDUSTRIES LTD.: COMPANY SNAPSHOT
     10.9 TOSOH CORPORATION
             TABLE 190 TOSOH CORPORATION: COMPANY OVERVIEW
             FIGURE 53 TOSOH CORPORATION: COMPANY SNAPSHOT
     10.10 OTHER PLAYERS
             10.10.1 MITSUI CHEMICALS INC.
                        TABLE 191 MITSUI CHEMICALS INC.: COMPANY OVERVIEW
             10.10.2 SIBUR
                        TABLE 192 SIBUR: COMPANY OVERVIEW
             10.10.3 GOODYEAR TIRE AND RUBBER COMPANY
                        TABLE 193 GOODYEAR TIRE AND RUBBER COMPANY: COMPANY OVERVIEW
             10.10.4 NIZHNEKAMSKNEFTEKHIM
                        TABLE 194 NIZHNEKAMSKNEFTEKHIM: COMPANY OVERVIEW
             10.10.5 ZEON CORPORATION
                        TABLE 195 ZEON CORPORATION: COMPANY OVERVIEW
             10.10.6 KUMHO PETROCHEMICAL COMPANY LTD.
                        TABLE 196 KUMHO PETROCHEMICAL COMPANY LTD.: COMPANY OVERVIEW
             10.10.7 PETROCHINA COMPANY LTD.
                        TABLE 197 PETROCHINA COMPANY LTD.: COMPANY OVERVIEW
             10.10.8 TAIWAN SYNTHETIC RUBBER CORP.
                        TABLE 198 TAIWAN SYNTHETIC RUBBER CORP.: COMPANY OVERVIEW
             10.10.9 LION ELASTOMERS
                        TABLE 199 LION ELASTOMERS: COMPANY OVERVIEW
             10.10.10 SYNTHOS
                        TABLE 200 SYNTHOS: COMPANY OVERVIEW
             10.10.11 CHANG RUBBER
                        TABLE 201 CHANG RUBBER: COMPANY OVERVIEW
             10.10.12 NANTEX INDUSTRY CO., LTD
                        TABLE 202 NANTEX INDUSTRY CO., LTD: COMPANY OVERVIEW
            10.10.13 SK GEO CENTRIC CO., LTD.
                        TABLE 203 SK GEO CENTRIC CO., LTD.: COMPANY OVERVIEW
            10.10.14 WARCO (WEST AMERICAN RUBBER COMPANY, LLC)
                        TABLE 204 WARCO: COMPANY OVERVIEW
            10.10.15 LYONDELLBASELL INDUSTRIES N.V
                        TABLE 205 LYONDELLBASELL INDUSTRIES N.V: COMPANY OVERVIEW
            10.10.16 DYNASOL ELASTOMEROS SAU
                        TABLE 206 DYNASOL ELASTOMEROS SAU: COMPANY OVERVIEW

11 APPENDIX (Page No. - 225)
     11.1 DISCUSSION GUIDE
     11.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     11.3 CUSTOMIZATION OPTIONS
     11.4 RELATED REPORTS
     11.5 AUTHOR DETAILS

The study involved four major activities for estimating the current size of the global synthetic rubber market. Exhaustive secondary research was carried out to collect information on the market, the peer product market, and the parent product group market. The next step was to validate these findings, assumptions, and sizes with the industry experts across the value chain of synthetic rubber through primary research. Both the top-down and bottom-up approaches were employed to estimate the overall size of the synthetic rubber market. After that, market breakdown and data triangulation procedures were used to determine the size of different segments and sub-segments of the market.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, rubber journals & newsletters, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The synthetic rubber market comprises several stakeholders in the supply chain, which include suppliers, processors, and end-product manufacturers. Various primary sources from the supply and demand sides of the markets have been interviewed to obtain qualitative and quantitative information. The primary participants from the demand side include key opinion leaders, executives, vice presidents, and CEOs of companies in the synthetic rubber market. Primary sources from the supply side include associations and institutions involved in the synthetic rubber industry, key opinion leaders, and processing players.

Following is the breakdown of primary respondents

Synthetic Rubber Market Size, and Share

Notes: Others include sales, marketing, and product managers.

Companies have been selected based on recent financials (Tier 1: revenue >USD 5 billion, Tier 2: revenue between USD 1 billion to 5 billion, and Tier 3: revenue below USD 1 billion).

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the size of the global synthetic rubber market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry were identified through extensive secondary research.
  • The supply chain of the industry and market size, in terms of value, were determined through primary and secondary research.
  • All percentage shares split, and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • The research includes the study of reports, reviews, and newsletters of key industry players along with extensive interviews with key officials, such as directors and marketing executives.

Data Triangulation

After arriving at the total market size through the estimation process explained above, the overall market was split into several segments and sub-segments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market size estimation process and arrive at the exact statistics for all segments and sub-segments. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated by using both the top-down and bottom-up approaches. Then, it was verified through primary interviews. Hence, for every data segment, there are three sources—top-down approach, bottom-up approach, and expert interviews. The data were assumed to be correct when the values arrived at from the three sources matched.

Report Objectives

  • To define, describe, and forecast the global synthetic rubber market in terms of both volume and value
  • To provide insights regarding the significant factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To analyze and forecast the market based on application
  • To forecast the market size, in terms of volume and value, with respect to five main regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape
  • To strategically profile key players in the market
  • To analyze competitive developments in the market, such as new product launch, capacity expansion, and merger & acquisition
  • To strategically profile the leading players and comprehensively analyze their key developments, such as expansions and mergers & acquisitions, in the synthetic rubber market

Available Customizations:

Along with the given market data, MarketsandMarkets offers customizations as per the specific needs of the companies. The following customization options are available for the report:

Product Analysis:

  • Product Matrix which gives a detailed comparison of the product portfolio of each company

Regional Analysis:

  • Further breakdown of the Rest of APAC market
  • Further breakdown of Rest of Europe market

Company Information:

  • Detailed analysis and profiling of additional market players (up to 5)

Rubber Market Overview

The rubber market is a global industry that produces and distributes various types of rubber products. The market can be broadly divided into two categories: natural rubber and synthetic rubber.
 
Natural rubber is produced from the sap of the rubber tree, and is primarily grown in tropical regions of Asia, Africa, and South America. It is used in a wide range of applications, including automotive tires, industrial hoses, and footwear.
 
Synthetic rubber is produced from a variety of petroleum-based chemicals, and is used in many of the same applications as natural rubber. Some of the most common types of synthetic rubber include styrene-butadiene rubber (SBR), polybutadiene rubber (PBR), and ethylene-propylene-diene monomer (EPDM) rubber.
 
The global rubber market is driven by a variety of factors, including demand from end-use industries, fluctuations in raw material prices, and changes in government policies and regulations. The market is also impacted by global economic conditions, as well as changes in consumer preferences and buying habits.
 
The rubber market and the synthetic rubber market are closely connected, as synthetic rubber is a major component of the overall rubber market.
 
While natural rubber is derived from the sap of rubber trees, synthetic rubber is produced from a variety of chemical compounds, such as styrene and butadiene. Synthetic rubber is used in many of the same applications as natural rubber, including automotive tires, industrial hoses, and footwear.
 
One of the key advantages of synthetic rubber is that it can be customized to meet specific performance requirements, such as resistance to high temperatures, chemicals, and wear and tear. This makes it an attractive alternative to natural rubber in many applications.
 
In addition, the prices of natural rubber and synthetic rubber are closely linked, with changes in the price of one material often impacting the price of the other. For example, if the price of natural rubber increases, manufacturers may switch to synthetic rubber as a cheaper alternative, which can impact demand for both types of rubber.
 
The rubber market and the synthetic rubber market have a complex relationship, with changes in one market often impacting the other. Here are some ways in which the rubber market may impact the synthetic rubber market:
 
1. Supply and demand: The supply and demand dynamics of natural rubber can impact the demand for synthetic rubber. For example, if the supply of natural rubber decreases due to weather conditions or disease affecting rubber trees, the price of natural rubber may rise. In turn, this could increase demand for synthetic rubber, which may be seen as a cheaper alternative.
 
2. Price: The price of natural rubber can impact the price of synthetic rubber, as they are both competing materials in the same applications. If the price of natural rubber rises, manufacturers may switch to synthetic rubber to save costs. This can lead to an increase in demand for synthetic rubber, which could impact the pricing of both materials.
 
3. Sustainability: The growing demand for sustainable and eco-friendly materials is driving innovation in the rubber market. For example, some companies are investing in the development of natural rubber alternatives, such as bio-based or recycled rubber. This could impact the demand for synthetic rubber in the future, as consumers and manufacturers look for more environmentally-friendly options.
 
4. Product performance: The performance characteristics of natural rubber and synthetic rubber can impact their demand in different applications. For example, natural rubber may be preferred in certain applications where its unique properties, such as high elasticity and low heat buildup, are advantageous. On the other hand, synthetic rubber may be preferred in applications where it offers superior performance, such as resistance to chemicals or higher durability.

Rubber Market Trends

There are several futuristic growth use-cases for the rubber market. Here are a few examples:
 
1. Smart tires: The use of sensors in tires to monitor tire pressure, temperature, and other factors is a growing trend in the automotive industry. Smart tires, made with high-tech rubber materials, are expected to play a key role in this trend. These tires can provide real-time information to drivers and improve safety on the road.
 
2. Lightweight materials: The demand for lightweight materials in industries such as aerospace, transportation, and construction is driving innovation in the rubber market. New lightweight rubber materials are being developed that can offer high strength and durability while also reducing weight, which can lead to increased fuel efficiency and cost savings.
 
3. Sustainable rubber products: As sustainability becomes increasingly important to consumers and manufacturers, the demand for sustainable rubber products is expected to grow. This includes the development of bio-based rubber products made from renewable resources, as well as the use of recycled rubber in various applications.
 
4. 3D printing: The use of 3D printing technology in the rubber industry is expected to increase in the coming years. This can allow for the creation of highly customized rubber products, as well as the development of complex shapes and designs that would be difficult to produce using traditional manufacturing methods.
 
5. Wearable technology: Rubber materials are also being used in the development of wearable technology, such as smart watches, fitness trackers, and medical devices. These products require flexible, durable, and comfortable materials, making rubber a popular choice.

Top Companies in Rubber Market

The rubber industry is a global market with a large number of players. Here are some of the top companies in the rubber industry, in no particular order:
 
1. Bridgestone Corporation
2. The Goodyear Tire & Rubber Company
3. Michelin Group
4. Continental AG
5. Sumitomo Rubber Industries, Ltd.
6. Pirelli & C. S.p.A.
7. Cooper Tire & Rubber Company
8. Toyo Tire Corporation
9. Hankook Tire & Technology Co., Ltd.
10. Yokohama Rubber Co., Ltd.
 
These companies are primarily engaged in the manufacturing and marketing of tires, but many also produce other rubber products, such as industrial rubber products, latex products, and automotive parts. Other notable players in the rubber industry include companies such as DowDuPont, Lanxess AG, and BASF SE, which produce a range of synthetic rubber materials.

Rubber Market Impact on Different Industries

The rubber market has a significant impact on many other industries. Here are some examples of industries that are likely to be impacted by the rubber market in the future:
 
1. Automotive industry: The automotive industry is one of the biggest users of rubber, particularly for tire production. As the demand for electric vehicles increases, the demand for more specialized rubber products, such as those used in batteries and charging systems, is also expected to grow.
 
2. Aerospace industry: The aerospace industry uses a wide range of rubber products in areas such as aircraft seals, gaskets, and hoses. As the industry continues to evolve and new materials and manufacturing processes are developed, the demand for specialized rubber products is expected to increase.
 
3. Healthcare industry: Rubber is used extensively in the healthcare industry for products such as gloves, medical tubing, and catheters. As the global population ages and demand for healthcare services increases, the demand for these types of products is expected to grow.
 
4. Construction industry: Rubber is used in a variety of construction applications, including roofing, flooring, and insulation. As sustainable and eco-friendly building practices become more popular, the demand for rubber-based construction materials is expected to grow.
 
5. Consumer goods industry: Rubber is used in a wide range of consumer products, such as sporting goods, toys, and electronics. As consumer demand for more innovative and durable products increases, the demand for specialized rubber materials is also expected to grow.
 
In summary, the rubber market is expected to continue to impact a wide range of industries, driven by advancements in technology, changing consumer preferences, and the increasing focus on sustainability and eco-friendliness in many industries.

 

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Report Code
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Oct, 2022
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