Synthetic Rubber Market Growth and Trends Analysis

1. Synthetic Rubber Market Size, Share, Growth, Development and Demand Forecast to 2030 1 © Prescient & Strategic Intelligence Private Limited. All rights reserved

2. The synthetic rubber market will grow significantly in the coming years. This is because of the increasing replacement of automobile tires, growing need for enduring rubber, increasing manufacturing volume of rubber manufacturers and investment done by them, and the continually progressing automotive industry. Additionally, numerous initiatives have been taken by the government for economic growth, and growing personal income, and incessant industrialization are responsible for the growth of the market. The styrene-butadiene rubber has the highest demand in the synthetic rubber market at present, and it is will grow substantially grow in the future. This is because of the cost-effectiveness of SBR and its strong resistance to abrasion, which makes it highly useful in industries like building & construction, healthcare, and footwear. India is second in the world in manufacturing footwear, producing around 2 billion pairs of shoes every year. The production of the country has augmented by 50% recently. To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/synthetic- rubber-market/report-sample APAC is the biggest synthetic rubber market at present, because of the growing demand for synthetic rubber in the tire and construction industries. Furthermore, automobile producers are investing heavily in the countries like China and India for setting up production plants, to enhance the sales of their products. The focus on the development of NEVs, to reduce carbon emissions, is pushing auto production in the Peoples Republic, further enhancing the need for synthetic rubber of late in the region. The aces of the synthetic rubber market are involved in joint ventures and attainments for developing cutting-edge products and increasing their reach. For example, The Goodyear Tire & Rubber Company, in February 2021 took over Cooper Tire & Rubber Company. The deal was for $2.5 billion. It brought together two manufacturers with the purpose of strengthening their global presence. Likewise, Sinopec Corp and Sibur Holding PAO in September 2019. Combined for a joint venture for the production of nitrile rubber in Russia in order to meet the demand. Inquire before purchase@ https://www.psmarketresearch.com/send- enquiry?enquiry-url=synthetic-rubber-market The automotive industry expansion has a direct connection with the growth of the automotive fittings and component sectors. In the industry, rubber and the products made from the same are used for numerous purposes like fluid transport systems, suspension systems, body sealing systems, vehicle anti- vibration systems, adhesives & sealants, fused components, O rings, and flat 2 © Prescient & Strategic Intelligence Private Limited. All rights reserved

3. seals. Moreover, more than a few components residing in the engine compartment, like hoses for ACs and engine seals, are manufactured from high- grade synthetic rubber. Thus, the budding automotive industry is pushing the demand for synthetic rubber. Growing disposable income of the people around the world is inclined to buy more and more vehicles. Rubber is extensively used in automobile fittings and most importantly tires. So, with the increase in demand for vehicles, manufacturers are in need of more and more tires. So, this has a positive impact on the synthetic rubber market, and this will increase even further with the increasing disposable income. As per a report, the disposable income of India increased by 30% in the last half a decade. The demand for synthetic rubber is on the rise with the increasing production of automobiles and footwear. The research offers market size of the Global Synthetic Rubber Market for the period 2015– 2030 Market Segmentation by Form Type Solid Liquid Market Segmentation by Product Type Styrene Butadiene Rubber (SBR) Butadiene Rubber (BR) Styrenic Block Copolymer (SBC) Ethylene Propylene Diene Monomer (EPDM) Rubber Butyl Rubber (IIR) Nitrile Rubber (NBR) Others Market Segmentation by Application Tire Non-Tire Automotive Footwear Industrial Components Adhesives & Sealants Paints & Coatings Others Market Segmentation by Region North America Synthetic Rubber Market • • • • • • • • • • • • • • • • • 3 © Prescient & Strategic Intelligence Private Limited. All rights reserved

4. oBy form type oBy product type oBy application oBy country – U.S. and Canada Europe Synthetic Rubber Market • oBy form type oBy product type oBy application oBy country – Germany, France, U.K., Italy, Spain, and Rest of Europe Asia-Pacific (APAC) Synthetic Rubber Market • oBy form type oBy product type oBy application oBy country – Japan, China, India, Australia, South Korea, and Rest of APAC Latin America (LATAM) Synthetic Rubber Market • oBy form type oBy product type oBy application oBy country – Brazil, Mexico, and Rest of LATAM Middle East and Africa (MEA) Synthetic Rubber Market • oBy form type oBy product type oBy application oBy country – Saudi Arabia, South Africa, and Rest of MEA 4 © Prescient & Strategic Intelligence Private Limited. All rights reserved

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