Global Synthetic Rubber Market Size Estimated To Reach at USD 66.91 billion in 2026 says a new report by Polaris Market

1. Global Synthetic Rubber Market Size Estimated To Reach at USD 66.91 billion in 2026 says a new report by Polaris Market Research Theglobal Synthetic Rubber Market generated USD 66.91 billion in 2017 and is anticipated to grow at a CAGR of 5.4% during the forecast period. Synthetic rubber is an artificial rubber and is made from different raw materials such as styrene, butadiene, chloroprene, isoprene, acrylonitrile, isobutylene, ethylene, and propylene. Rubber demand is mainly stimulating with accelerating production of automobile products. Request for Sample of This Research Report @ https://bit.ly/2TeoTZJ Synthetic rubber market is mainly driven by its high utilization in the automobile industry for both tire and non-tire applications. On account of its resilience, toughness, and elasticity it is one of the basic and major constituents of tires in the automobile industry. More than half of the the total rubber consumption takes place in manufacturing tires for aircrafts, automotive vehicles, and bicycles. Apart from this, a significant portion is utilized for mechanical parts and the consumer products. Automotive is one of the fastest growing application segments for the market. The emergence of smart electric hybrid vehicles is continuously brimming with technology and has witnessed rapid growth rate as its an energy-efficient alternative. Such energy-efficient automotive have led to increased use of rubber in the tire and non-tire applications of the consumer vehicles. Heavy-duty vehicles have also witnessed large manufacturing, especially in the emerging nations.

2. Growth in the income level of consumers and improved standard of living is also a mega trend that has led to increased manufacturing of vehicles and thus increased consumption of synthetic rubber. Such trends indicate a long-term sustainable growth in the demand for consumer durables globally. This in turn will lead to increased demand in the overall consumption of good, and thus increased utilization of synthetic rubber in the industrial sector. . Global synthetic rubber industry is characterized by rationalization and consolidation in the value chain. The demand has grown substantial for the synthetic rubber but with a slow closure of the overcapacity gap. Some of the growth prospects for the industry include drive for productivity improvements and consumption moving towards site of production in order to reduce cost and logistics inefficiencies. Competitive Landscape and Key Vendors Asia Pacific is the largest regional segment for the synthetic rubbers with China as the major producer globally. Rapid industrialization, rising middle class and growing economy growth are some of the significant reasons behind China being the largest producer for synthetic rubber. Indian Subcontinent and Southeast Asian countries also have significant growth prospects for the synthetic rubber. The global synthetic rubber industry is moderately fragmented and highly competitive along with the high degree of integration across the manufacturing and distribution stage. Some of the major synthetic rubber market players include LANXESS, Sinopec, China National Petroleum Corporation (CNPC), Sibur, Kumho Petrochemical, JSR Corporation, Asahi Kasei Chemical Corporation, Trinseo, Eastman Chemical Corporation, and Ashland Inc. Key Segments Feedstock Segment •SBR •EPDM •IR •PBR

3. •Others Application Segments •Tire & Tire Components •Non-Tire Automobile Applications •Footwear •Industrial Goods •Others Region •North America oU.S. oCanada •Europe oGermany oUK oFrance oRest of Europe •Asia-Pacific oChina oIndia oJapan oRest of Asia-Pacific •Latin America oBrazil oMexico oRest of Latin America •Middle East and Africa Request Discount on this Report before Buying @ https://www.polarismarketresearch.com/industry-analysis/synthetic-rubber- market/inquire-before-buying Contact Us: Polaris Market Research 30 Wall Street 8th Floor, New York City, NY 10005, United States +1-646-568-9980

4. Email ID: sales@polarismarketresearch.com Follow us: LinkedIn | Twitter | Facebook | Google+