The global synthetic rubber market is expected to reach USD 47.69 Billion by 2028, according to a new report by Reports and Data. The growth of the market is attributed to the increasing end-use applications of synthetic rubber.
Increasing demand of synthetic rubber for tire production is one of the significant factors influencing the market growth. The benefits of synthetic rubber comprises exceptional abrasion resistance and adhesion to metals, thereby making it suitable in making of seals, gaskets, and other products. Also, synthetic rubber provides optimum performance in harsh temperatures owing to better heat resistance quality. It has been found that tires manufactured from synthetic rubber lose around 30.0% less mass as compared to tires produced from natural rubber. Moreover, the advancement in production technology has transformed the automobile industry, which is expected to experience increased sales in the upcoming years, thus creating an increase in the demand for tires, and in turn, would drive the growth of the market.
To receive a sample copy of the global Synthetic Rubber market report, visit @ https://reportsanddata.com/sample-enquiry-form/2824
Further key findings from the report suggest
- By product type, styrene-butadiene rubber contributed to the largest market share in 2020. Styrene-butadiene rubber polymer substitutes natural rubber because it is more environmental friendly and provides various benefits. For example, this product type provides crack endurance, exceptional abrasion resistance, and usually ages well. Furthermore, it offers excellent water resistance and compression set resistance.
- By application, footwear application is estimated to grow at a rate of 3.7% in the forecast period.
- By distribution channel, the online distribution channel is projected to grow at a faster rate of 7.1% in the period 2020-2028, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
- The market in the Asia Pacific region dominated the market in 2020 and is projected to grow at a rate of 5.4% in the forecast period. The market dominance of the APAC region is attributed to the rapid urbanization, rise in the level of disposable income, and growth of the end-use industries, particularly the automotive and footwear industry.
- Key participants include DuPont, Eastman Chemical Company, INEOS, ExxonMobil Corporation, Chevron Phillips Chemical Company, Nova Chemicals Corporation, Mitsubishi Chemical Corporation, SABIC, Sinopec, and Goodyear, among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/synthetic-rubber-market
For the purpose of this report, Reports and Data have segmented the global synthetic rubber market on the basis of product type, application, distribution channel, and region:
Product Type Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Styrene-Butadiene Rubber
- Ethylene Propylenediene Rubber
- Polyisoprene
- Polybutadiene Rubber
- Others
Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Automotive
- Footwear
- Industrial Goods
- Others
Distribution Channel Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Online
- Offline
Regional Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- MEA
Key points covered in the report:
- The report presents a detailed study of the global Synthetic Rubber market
- It specializes in the study of the major market dynamics including driving and restraining market growth, latest product trends, and latest technological advancements
- Includes market classification based on product type, application spectrum, and end-use landscape, and distribution channel
- Major focus on the latest product developments, new techniques incorporated, and company profiles of leading players in the market
Frequently asked questions addressed in the report:
- What is the projected growth rate of the global Synthetic Rubber market over the forecast period?
- What are the latest trending factors influencing market growth?
- What are the major factors driving the growth of the Global Synthetic Rubber Market?
- What are the risks and challenges existing in the industry?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
Request a customized copy of the report @ https://reportsanddata.com/request-customization-form/2824
Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: [email protected]
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
Check our upcoming research reports @ https://www.reportsanddata.com/upcoming-reports
