Synthetic Rubber Market

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Synthetic Rubber MARKET 2020
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Synthetic Rubber MARKET 2020
Synthetic Rubber Market 2020 Industry Survey,
Growth, CompetitiveLandscape and Forecasts to
2023
Synthetic Rubber is classified as elastic polymer
from which rubber is obtained and manufactured on
the basis of petrochemical raw material. It is
mostly used with natural rubbers as a single
polymer or in mixture and is majorly produced
synthetically by polymerization. It is
predominantly used as the main constituent of the
tires used on automobiles, airplanes, and
bicycles. It finds a wide application scope in
numerous end use industries such as footwear,
industrial, construction, automotive
transportation, and others. Some of the
important factors that positively influence the
growth of the Synthetic Rubber Market are
increasing per capita disposable income, rising
demand for lightweight footwear, and growing
construction industry. Rapid urbanization
combined with rising per capita disposable income
in various countries across the globe is
estimated to drive the growth of the market
during the forecast period. Moreover, rising
demand for durable as well as oil resistant
rubber and increasing investment in construction
activities is likely to propel the market growth
over the estimated period, 2016 to 2023.
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Synthetic Rubber MARKET 2020
Market Segmentation The Global Synthetic
Rubber Market is segmented into type, end use,
and region. On the basis of region, the market is
segmented into SBR, NBR, BR, EPDM, SBC, others.
Other type include IR, IIR, and CR. Among them,
SBR is the extensively used type of Synthetic
Rubber in large quantities in automobile and
heavy vehicle truck tires, on account of its
abrasion resistant as well as heat resistant
qualities. Moreover, SBR possess low temperature
flexibility, excellent water resistance, and heat
aging properties and can be utilized for bonded
to a wide range of materials. SBR accounted for
the largest market share among other type segment
because of it usage in the manufacturing of
tubes, gaskets, conveyor belt covers, lining
rubber, hoses, belts, tires, and seals. SBR is
followed by BR and SBC. Polybutadiene rubber (BR)
is predicted to witness healthy growth during the
forecast period on account of its wide
utilization in end use industries such as
building construction as well as footwear. On
the basis of end use, the market is classified
into construction, automotive transportation,
industrial, footwear, and others. Among them,
automotive transportation account for the
largest end use segment followed by construction.
Increasing automotive production sales along
with increasing purchasing power of consumer is
predicted to fuel the segment. Moreover,
increasing construction activities including
residential and commercial is predicted to drive
the construction segment with healthy
CAGR. Enquiry of the Report https//www.marketre
searchfuture.com/enquiry/4952
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Synthetic Rubber MARKET 2020
Regional Analysis
Asia Pacific is expected to be the largest market
for Synthetic Rubber followed by Europe and North
America on account of increasing demand from
numerous end use industries such as building
construction and automobile transportation
among others. Emerging countries of Asia Pacific
such as China, India, Thailand, Japan, and South
Korea are the fastest growing market for
synthetic rubber, and is predicted to grow with
the same pace in the near future. In Asia
Pacific, some of the driving factors for market
growth are strong economic growth rate,
competitive manufacturing costs, and availability
of inexpensive raw material. Europe Synthetic
Rubber Market is estimated to witness a steady
growth due to continuous growth of footwear
industry. North America is expected to witness a
substantial growth during the assessment period
on account of rising demand for Synthetic Rubber
in construction industry. The Middle East
African countries is estimated to witness strong
market growth due to increasing building
construction activities. In Latin America market
growth is majorly due to expansion of automotive
sector.
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Synthetic Rubber MARKET 2020
Application Major Players in this Research
Synthetic Rubber Market Prominent Players The
major players operating in the Synthetic Rubber
Market are LANXESS (Germany), The Dow Chemical
Company (U.S.), Versalis S.p.A. (Italy), Kumho
Petrochemical (South Korea), JSR Corporation
(Japan), LGChem (SouthKorea), Exxonmobil (U.S.),
Asahi Kasei Corporation (Japan), Sumitomo
Chemical Co., Ltd. (Japan), ZEONCorporation
(Japan) among others.
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