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Global synthetic rubber market is expected to have a CAGR of 7.3% during the forecast period 2016-2023. Synthetic rubber is made up of polymerization of petro chemical products. The global demand of synthetic rubber is due to increase in demand mainly in automotive industry. Synthetic rubber has End number of applications such as automotive and industrial goods. The application of synthetic rubber in the manufacturing tyres of cars and commercial vehicles such as trucks etc. are driving the global synthetic market. Synthetic rubber is an artificial elastomer which is a polymer developed as a replacement to traditional rubber.
Consumers are changing their preference from natural rubber to synthetic rubber as the price fluctuation of natural rubber hinders the profit margin of manufacturers. Rising demand in automotive industry and rising footwear market are the factors driving for global synthetic rubber market. The increasing number of cars and commercial vehicles globally is expected to contribute to the growth of synthetic rubber market. Synthetic rubber is harmful for nature as it is not a bio degradable substance and pollute the environment very adversely. Government’s strict policy towards synthetic rubber and emergence of bio based feedstock acts as a restraints and hinders the growth of global synthetic rubber market.
Source: OBRC Analysis
The global synthetic rubber market is segmented into end users and type.
On the basis of end users, market is sub segmented into:
On the basis of type, market is sub segmented into:
The revenue for the above end-users is specific to the global synthetic rubber market. However, the total revenue of these end-users in general has been excluded from the scope of the report. Geographically, the global synthetic rubber market is segmented into:
Asia pacific is the leader in global synthetic rubber market. China is the major country in this region. The growth of Asia pacific is due to increase in number of automobile and footwear industries. Increase in the population is also a major factor, as population drives the demand for synthetic rubber applications. Rest of the world shows a fast growth in this market due to present of rubber manufacturing units, footwear industries and population rises the global market in this region. North America is also a growing market due to industrialization and rising demand for rubber application drives the North America market for global synthetic rubber market. Europe market is sharing low market share in this region. The government regulations towards synthetic rubber acts as a hurdle in growth of Europe market. Though there are many automotive industry, but use of synthetic rubber in that region is limited.Synthetic Rubber market can be segmented into types and end user. The segment by types can be further sub-segmented into styrene butadiene, styrenic blockcopolymer,nitrile butadiene rubber/ acrylonitrile butadiene , ethylene-propylenediene, polyisoprene , chloroprene rubber and others. The end-user segments includes tires, industrial goods, footwear and others of which tires segment holds the largest market share.
The major market players of the global synthetic rubber market are:
Detailed analysis of these companies provided in this report comprises of overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
These companies use various strategies such as merger & acquisition, collaboration, partnership and product launching. Example: In May 10, 2017, Exxon Mobil Chemical company completed the acquisition of one of the world’s largest aromatics plants in Singapore with Jurong Aromatics Corporation. This acquisition enabled cost-competitive growth of ExxonMobile’s strategic aromatics business.
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At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global synthetic rubber market offers the longest chain of market segmentation covering major segmentation covering major segmentation based on end-users and type.The report tracks the major market trends in the global synthetic rubber such as various investments done in establishment of the production capacities of synthetic rubber by key market players. For each market segments covered in global synthetic rubber marketreport, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the synthetic rubber industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global synthetic rubber market:
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