Synthetic rubber is a flexible polymer made commonly from petroleum wastes. Synthetic rubber has a variability of qualities, involving flexibility, grease resistance, durability, and good water repellence, making it ideal for a variability of applications in construction, footwear, automotive & transportation, industrial, and several other fields. It's also utilized to make polymer concrete for waterproofing, as well as tires, hoses, conveyor belt coverings, gaskets, and tubes. Styrene-butadiene rubbers (SBR) are the most shared synthetic rubbers, produced from the copolymerization of styrene and 1,3-butadiene.
According to the report analysis, ‘Synthetic Rubber Market: Current Analysis and Forecast (2021-2027)’ states that the growth of synthetic rubber industry reliant on the performance of end user industries such as tire, automotive, footwear, consumer goods, and growing foray of synthetic rubber in natural rubber insights. The global augment in production of tire, footwear, and consumer goods products among others has augmented the company's reliance on synthetic rubber as it proposes the high performance at a lower cost compared to natural rubber. Further, growing end user production process demands the large quantity of raw materials and since production of natural rubber is restricted therefore augment in requirement resulted in supply-demand disruption thus growing the price of natural rubber. Further, increasing population and augmenting consumer disposable power has resulted in the rising demand of footwear, around the globe. In addition, speedy changing fashion trend and consumer implementation to those changes also resulted in the requirement of new footwears. These aspects are advancing the market of synthetic rubber. However, crude oil is the commonly raw material for the introduction of synthetic rubber. Hence, volatility in the crude oil cost affects the dynamics of synthetic rubber market.
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Based on type, the market is classified into SBR, BR, SBC, EPDM, IIR, NBR, and several others. Among these, SBR controlled the prominent share in the global synthetic rubber market. SBR is broadly use in tire industry as it is better suited to encounter the progressively stringent specifications of great-performance tires. Furthermore, in automotive industry SBR founds application in belt, hoses, gasket. Hence, growth in tire industry and replacement of automotive components are some of the foremost factors for its significant position in the market.
Based on application, the market is classified into tire, automotive, footwear, industrial goods, consumer goods, textile, and several others. Among these, tire controlled the significant share in the market. This can be accredited to tire large and increasing demand of tire from automobile industry. Tire is utilized as an original equipment with a new vehicle as well as its large requirement during old tire replacement. Further, growing demand of high-performance tire resulting in the increasing demand of synthetic rubber in tire industry.
Asia-Pacific controlled the prominent position in the global synthetic rubber market due to its large tire manufacturing industry and greatest automobile production base around the globe. For instance, tire producers like Bridgestone, Yokohama, Kumho, Hankook, Triangle, Apollo, and MRF are among the greatest producer of tire, around the globe. Further, the regional is the greatest producer footwear across the world, with country like China, Vietnam, Indonesia, and India has significant market share.
For More Information, refer to below link:-
Global Synthetic rubber Market Research Report
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