Global Synthetic Rubber Market 2017-2021

This market research study identifies Asahi Kasei Corporation, Bridgestone, ExxonMobil, LANXESS, and MICHELIN as the leading players in the global synthetic rubber market. A comprehensive analysis of this market is also presented by product (SBR, BR, SBC, EPDM, NBR, and others), by application (tire and non-tire), and by geography (the Americas, APAC, and EMEA).

Overview of the global synthetic rubber market

Technavio’s synthetic rubber market forecast identifies that the increasing demand for styrene butadiene rubber (SBR) will be one of the primary factors driving the synthetic rubber market growth till 2021. During 2016, the SBR segment accounted for around 80% of the total demand. This drives its adoption rate in the tire industry. The application of SBR will further increase as it is extensively used in various applications such as non-tire automotive applications, industrial hoses, conveyor belts, several molded and extruded rubber products, footwear, and other consumer finished products. They are also used in the cable industry as some of the grades of SBR rubber are highly waterproof and impurity-resistant. A large number of synthetic rubber manufacturers are using SBR due to the need for high-performance tires. Our synthetic rubber market outlook predicts that this market will grow at a CAGR of more than 5% by 2021.

The automotive industry is witnessing growth in countries such as South Korea, Japan, China, and India. The synthetic rubber market highly relies on the automotive industry. This in turn, will positively impact the growth of the artificial rubber market in APAC during the predicted period. The growth of the synthetic rubber market will continue to increase in this region during the coming years due to the expansion of western manufacturers in the emerging economies, especially India and China.

What's your takeaway?

Technavio's industry research report on the global synthetic rubber market 2017-2021 will help you-

• Identify latent opportunities and explorative solutions in the synthetic rubber market
• Identify your key competition, and what's making them tick?
• Help you build a comprehensive marketing plan, applicable across 50+ countries

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Competitive landscape and key vendors

The synthetic rubber market is characterized by the presence of a large number of established and regional players. The fluctuations in raw material prices and issues related to the sourcing of raw materials will be the major challenges faced by the players in these market space. To develop new products, the major players are increasing their investments in R&D. This will in turn, intensify the level of competition among the players in the artificial rubber market.

Key vendors in this market are -

• Asahi Kasei Corporation
• Bridgestone
• ExxonMobil
• LANXESS
• MICHELIN

Other prominent vendors in the market include China National Petroleum Corporation, China Petroleum & Chemical Corporation, Denka Company, DowDuPont, Grupo Dynasol, JSR, KUMHO PETROCHEMICAL, LCY GROUP, Reliance Industries, SABIC, Sumitomo Chemical, The Goodyear Tire & Rubber Company, TSRC, UBE INDUSTRIES, and Versalis.

Segmentation by product and analysis of the synthetic rubber market

• Styrene butadiene rubber (SBR)
• Butadiene rubber (BR)
• Styrene block copolymer (SBC)
• Ethylene propylenediene rubber (EPDM)
• Nitrile rubber (NBR)

The adoption of SBR is high because it exhibits an enhanced abrasion resistance, high heat durability, and better processability. The synthetic rubber market will continue to grow in the SBR segment throughout the projected period owing to the high uilizatiion of SBR in the production of footwear, automobile tires, conveyor belts, adhesives, gaskets, and hoses.

Segmentation by application and analysis of the synthetic rubber market

• Tire
• Non-tire

The increasing rate of production of automobile vehicles is driving the growth prospects for the tire segment. The tire industry across the globe uses around 60% of the synthetic rubber. This synthetic rubber is synthesized from petroleum-derived hydrocarbons. They are extensively used in the manufacturing of high-grip tires as they can deform under pressure and return to their original shape on the removal of stress.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global synthetic rubber market?
• What are the key market trends impacting the growth of the global synthetic rubber market?
• What are the challenges to market growth?
• Who are the key vendors in the global synthetic rubber market?
• What are the market opportunities and threats faced by the vendors in the global synthetic rubber market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global synthetic rubber market?

Technavio also offers customization on reports based on specific client requirement.