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Synthetic Rubber: Global Markets

·4-min read

Report Scope: This report will cover the synthetic rubber industry. Definitive and detailed estimates and forecasts of the global market are provided, followed by a detailed analysis of the regions, types, applications and on-going trends.

New York, March 08, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Synthetic Rubber: Global Markets" -

This report covers the technological, economic and business considerations of the synthetic rubber industry, with analyses and forecasts provided for global markets. Included in the report are descriptions of market forces relevant to the synthetic rubber industry and their areas of application.

Global markets are presented for the size of synthetic rubber segments, along with growth forecasts through 2025.Estimates of sales value are based on the price in the supply chain.

Market-driving forces and industry structure are examined.International aspects are analyzed for all global regions and types of synthetic rubber.

Profiles of major global manufacturers are presented.

This report considers the impact of COVID-19.In 2020, the growth rate of every industry around the world was impacted by the pandemic.

The presently developing COVID-19 pandemic has currently halted the progress of every economy. In addition to taking measures to lock down their respective countries to contain the spread of the coronavirus, especially in affected cities, various governments around the world are also taking the measures necessary to contain the economic slowdown.

The synthetic rubber market is further segmented based on its types: styrene butadiene rubber (SBR), Ethylene propylene diene rubber (EPDM), polybutadiene rubber (BR), polyisoprene (IR), nitrile butadiene rubber (NBR) and others. The market is also segmented into applications like tires, industrial, non-tire automotive, footwear and others.

Report Includes:
- 117 data tables and 39 additional tables
- An overview of the global market for synthetic rubber
- Estimation of the market size and analyses of market trends, with data from 2019, 2020, and projections of compound annual growth rates (CAGRs) through 2025
- Country specific data and analysis for U.S., Canada, France, Germany, Russia, Japan, China, India, and Malaysia
- Market share analysis of the synthetic rubber market based on type, application, region, and on-going trends and evaluation of current market trends, market size, and market forecast
- Identification of market drivers, restraints and other forces impacting the global market
- Coverage of major developments in synthetic rubber market and discussion on impact of COVID-19 on synthetic rubber market
- Coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Company profiles of major players of the industry, including Exxonmobil, Goodyear Tire & Rubber Co., Zeon Corp., TSRC Corp., JSR CORP. and Kumho Petrochemical

The global synthetic rubber market totaled REDACTED million tons in 2019 and REDACTED million tons in 2020, with a growth rate of REDACTED% from 2019 to 2020. The market will reach REDACTED million tons by 2025 with a CAGR of REDACTED% from 2020 to 2025.

Synthetic rubber is widely used in the automotive industry to produce tires and other rubber components in cars, busses, trucks, etc.According to International Organization of Motor Vehicle Manufacturers (OICA), in 2000, approximately REDACTED million cars were produced around the world and about REDACTED million were produced in 2015.

There has been a surge in new vehicle production and consumption in developing countries like China and India, and in many Southeast Asian countries. According to National Academy of Sciences, every year, Americans spend more than $REDACTED billion replacing their passenger car and light truck tires.

Companies like Bridgestone Group, Michelin, Goodyear and Continental are among those which have taken initiatives to end the use of fossil fuels in tire manufacturing and produce tires completely from sustainable materials.

The Asia-Pacific makes up REDACTED% of the total synthetic rubber market, with China accounting for REDACTED% andthe rest of the Asia-Pacific totaling REDACTED%. At the end of 2016, the capacity in non-China Asia-Pacific exceeded China, as a majority of the expansions and new projects were from the rest of the Asia-Pacific region.

Overcapacity is one of the biggest challenges facing the global synthetic rubber industry, with one of the major reasons being over-investment in China during the past few years. Due to overcapacity, many manufacturers are forced to work with reduced or low operating rates, and a few have also delayed expansion projects.

In 2020, the automotive industry was severely hampered as manufacturing facilities were shut down and production came to standstill due to COVID-19.This resulted in a negative impact to growth rates in several countries.

Some tire and synthetic rubber manufacturers decreased their production capacity or shut down a few of their facilities temporarily.Many global car manufacturers reduced their production in the first quarter of 2020 because of a lack of components from China.

On the other hand, demand for synthetic rubber for glove production increased during the pandemic.
Read the full report:

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