How big is the Liquid Synthetic Rubber Market?

The Liquid Synthetic Rubber Market size is expected to reach USD 15.87 billion in 2024 and grow at a CAGR of 4.72% to reach USD 19.99 billion by 2029. Read More

What is the current Liquid Synthetic Rubber Market size?

In 2024, the Liquid Synthetic Rubber Market size is expected to reach USD 15.87 billion. Read More

Who are the key players in Liquid Synthetic Rubber Market?

Evonik Industries AG, China National Petroleum Corporation, Kumho Petrochemical, ENEOS Corporation and Saudi Arabian Oil Co. (Arlanxeo) are the major companies operating in the Liquid Synthetic Rubber Market. Read More

Which is the fastest growing region in Liquid Synthetic Rubber Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Liquid Synthetic Rubber Market?

In 2024, the Asia Pacific accounts for the largest market share in Liquid Synthetic Rubber Market. Read More

What years does this Liquid Synthetic Rubber Market cover, and what was the market size in 2023?

In 2023, the Liquid Synthetic Rubber Market size was estimated at USD 15.12 billion. The report covers the Liquid Synthetic Rubber Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Liquid Synthetic Rubber Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Liquid Synthetic Rubber Market Trends

Statistics for the 2023 & 2024 Liquid Synthetic Rubber market trends, created by Mordor Intelligence™ Industry Reports. Liquid Synthetic Rubber trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Liquid Synthetic Rubber Industry

Surge in Global Tire Production Fuels Market Growth

The tire segment's reliance on liquid synthetic rubber is growing, particularly in premium tire markets where flexibility, resilience, and durability are paramount. The automotive industry's expansion, coupled with consumer demand for advanced vehicles, continues to drive this trend. Additionally, the industry's shift towards sustainable materials is impacting liquid synthetic rubber pricing, reflecting the broader market movement towards environmentally friendly products.
Tire Industry Contributions: The automotive industry's expansion, especially in emerging markets, has significantly boosted the demand for liquid synthetic rubber in tire manufacturing. Known for its elasticity and durability, liquid synthetic rubber is integral in producing high-performance tires that meet stringent quality standards. As the global automotive sector recovers and grows, particularly with the rise of electric vehicles (EVs), the demand for advanced tire solutions continues to drive market growth.
Technological Advancements: Innovations in tire production, such as the development of low rolling resistance and high-performance tires, have led to increased reliance on liquid synthetic rubber. These technological advancements are essential for improving fuel efficiency and reducing carbon emissions, aligning with global environmental goals and regulatory pressures. The ongoing development of sustainable mobility solutions further amplifies the need for high-quality synthetic rubber in the tire industry.

Liquid Synthetic Rubber Market: Tire Production, in Million Units, India, FY 2017 - 2022

Understand The Key Trends Shaping This Market

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Asia-Pacific Region to Dominate the Market

The Asia-Pacific region is expected to dominate the global liquid synthetic rubber market, driven by rapid industrialization and a strong automotive sector. Countries like China, India, and Japan are key contributors to this growth, with the region's cost competitiveness and access to raw materials providing a significant edge over other markets. As the region continues to invest in research and development, its leadership in the liquid synthetic rubber market is poised to strengthen further.