CHICAGO, May 26, 2021 /PRNewswire/ — According to the new market research report “Synthetic Rubber Market by Type (SBR, BR, SBC, EPDM, IIR, NBR) Application (Tire, Automotive (Non-tire), Footwear, Industrial Goods, Consumer Goods, Textile), Region (North America, Europe, APAC, South America, MEA) – Global Forecast to 2026″, published by MarketsandMarkets™, the global Synthetic Rubber Market size is estimated to be USD 19.1 billion in 2021 and is projected to reach USD 23.2 billion by 2026, at a CAGR of 4.0% between 2021 and 2026. Tire is the major application segment for the synthetic rubber market. The recovery of the automotive sector across the world is driving the synthetic rubber market during the forecast period. Moreover, the development of eco-friendly technologies for the production of synthetic rubber and the growing demand for electric & hybrid vehicles are new opportunities in the synthetic rubber market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=761
Browse in-depth TOC on “Synthetic Rubber Market”
169 – Market Data Tables
66 – Figures
200 – Pages
View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/synthetic-rubber-market-761.html
Tire: the largest end use application of synthetic rubber market
Tire is the largest application in the synthetic rubber market. Synthetic rubber offers various extraordinary features to tires, such as safety, control, grip, and comfort. Likewise, it provides the tire with various other features, such as directional stability, rolling resistance, wet traction, puncture resistance, steering response, speed and run-flat capability, impact resistance, high fuel efficiency, and weather resistance, to function in challenging conditions. The impact of COVID-19 on the global tire business is detrimental. Some manufacturing units were shut down because of the impact of COVID-19 on the companies. The demand for synthetic rubber slumped significantly in 2020 due to supply chain disruption and reduced demand from end-use industries.
APAC is estimated to be the fastest-growing market for synthetic rubber.
APAC accounted for the largest share in terms of volume and value of the synthetic rubber market in 2020, followed by Europe and North America. The use of synthetic rubber is expected to witness the highest growth in the APAC region during the forecast period. The market in this region is driven by the recovery of the automotive sector in China and Southeast Asian countries. Global automobile manufacturers are investing in APAC countries to establish their production plants to enhance their market presence in the region. China is the significant market for automobiles and the largest consumer of synthetic rubber in the world. The focus towards the development of New Energy Vehicles (NEVs) to reduce carbon footprint will drive the automotive application in China which will further enhance the demand for synthetic rubber during the forecast period.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=761
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), SIBUR (Russia), Mitsui Chemical Inc. (Japan), LG Chemical (South Korea), LANXESS (Germany), JSR Corporation (Japan), SABIC (Saudi Arabia), Denka Company Ltd. (Japan), and Asahi Kasei Corporation (Japan).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=761
Related Reports:
EPDM MARKET By Application (Automotive, Building & Construction, Plastic Modification, Tires & Tubes, Wires & Cables and Lubricant Additives) Region (North America, Europe, Asia Pacific, Middle East & Africa and South America) – Global Forecast to 2026
https://www.marketsandmarkets.com/Market-Reports/epdm-rubber-market-483.html
Thermoplastic Polyurethane (TPU) Market by Raw Material (Polyols, Diisocyanate, Diols), Type (Polyester, Polyether, Polycaprolactone), End-use industry (Footwear, Industrial Machinery, Automotive, Electronics, Medical), Region – Global Forecast to 2024
https://www.marketsandmarkets.com/Market-Reports/thermoplastic-polyurethanes-market-1091.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/synthetic-rubber-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/synthetic-rubber.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
SOURCE MarketsandMarkets