Synthetic Rubber Market worth 4.8% CAGR by 2028
Bengaluru, July – Synthetic rubber is an artificial rubber and various raw materials such as styrene, butadiene, chloroprene, isoprene acrylonitrile, isobutylene, ethylene and propylene come together to make it. It is a kind of elastic polymer mainly derived from petroleum byproducts. Automobile products are an enormous market and are the main crux in driving market growth regularly.
The demand for rubber-based products, such as footwear, hoses, seals, and adhesives, continued to rise globally which is a key factors positively influencing the market growth. Since, synthetic rubber provides a cost-effective alternative to natural rubber for many of these applications. Another factor is the advancements in production technologies and polymer science, which led to the development of new and improved grades of synthetic rubber with enhanced performance characteristics, expanding its applications in various industries and have increased opportunities for the market.
Furthermore, the increasing demand for sustainable and eco-friendly materials created opportunities for the development and commercialization of green synthetic rubber alternatives. Bio-based, renewable, and recycled synthetic rubber options were gaining traction as more industries sought environmentally friendly solutions. Additionally, the rise of electric vehicles created opportunities for synthetic rubber manufacturers, as EV tires required specific properties to meet the demands of low rolling resistance, high mileage, and improved fuel efficiency.
The Synthetic Rubber Market research report titled as “Synthetic Rubber Market by Type, Application and Geography – Forecast up to 2028”
The top notch companies of the market are DuPont, Mitsubishi Chemical Corporation, INEOS, Chevron Phillips Chemical Company and Eastman Chemical Company.
The majority share of the market is acquired by the Asia Pacific region in the regional market. This is due to the expansion of infrastructure industry, along with the advanced product and most importantly China has a major role in the growth in the market growth in this region.
The report consists of —- Tables 76 and charts 46 depicting the in-depth market study and the impact analysis of COVID-19 by Vendor name and detailed TOC.
Synthetic Rubber Market by Type:
- Styrene Butadiene Rubber
- Ethylene Propylenediene Rubber
- Polyisoprene
- Polybutadiene Rubber
- Others
Synthetic Rubber Market by Application:
- Tire
- Non-tire automotive
- Footwear
- Industrial
Synthetic Rubber Market by Geography:
- North America
- Europe
- Asia Pacific
- Rest of the World
About IHR Insights:
We are Market Research and Consulting firm, Offers Market Intelligence, Custom Market Research, Consulting, Go-To-Market and Content Development Services. Consulting Services Includes Market Entry Strategy, Opportunity Assessment, Competition Tracking, Technology Mapping, Sentiment Analysis, Brand Reputation Management. We work on full time engagement model with clients supporting their market intelligence needs across various departments at global level. We work as a partner and provide continues support to the organizations from basic secondary research to strategic inputs in business planning and expansion.
For further inquiries or media contact:
Marketing & Communications
IHR Insights
inquiry@ihrinsights.com