Synthetic Rubber Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Type (Styrene Butadiene Rubber, Ethylene Propylenediene Rubber, Polyisoprene, Polybutadiene Rubber, and Others), By Application (Tire and Tire Component, Non-tire Automobile Application, Footwear, Industrial Goods, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

Market Snapshot

Synthetic rubber Market - Market summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

Greater Than-5

Key Players:

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Market Overview

The market for synthetic rubber is expected to grow at a CAGR of over 5% during the forecast  period. One of the major factors driving the market studied is the surging demand for athletic footwear. However, oversupply due to consistent capacity additions is likely to restrain the market growth.

  • Increasing demand for hydrogenated nitrile-butadiene rubber (HNBR) in the emerging markets is also likely to boost the synthetic rubber market growth.
  • Development of bio-based feedstock for synthetic rubber is likely to act as an opportunity for the market growth in future.
  • Asia-Pacific has accounted for the highest market share and is likely to domnate the market during the forecast period. 

Scope of the Report

The synthetic rubber market report includes:

Type
Styrene Butadiene Rubber (SBR)
Ethylene Propylenediene Rubber (EPDM)
Polyisoprene (IR)
Polybutadiene Rubber (BR)
Other Types
Application
Tire and Tire Component
Non-tire Automobile Application
Footwear
Industrial Goods
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Rest of the Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa (MEA)

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Key Market Trends

Styrene Butadiene Rubber to Dominate the Market

  • Styrene butadiene rubber has the highest market share in the synthetic rubber market. This is owing to its good aging stability and high abrasion resistance, making it the material of choice for use in the tire manufacturing industry.
  • SBR was earlier marketed as Buna-S. It is made up of a combination of styrene and butadiene, in a 3:1 ratio, by weight. It can be produced through two processes, namely, emulsion polymerization and solution polymerization.
  • Around 50% of the car tires are made up of SBRs, present in a blend with natural rubber.
  • For low-end tires, the ratio of SBR to natural rubber is lower, in order to reduce the cost of production. Although this reduces the overall life of tires, it is a cost-effective option.
  • The high growth rate of the end-user industries in the Asia-Pacific (APAC), as well as the Middle East & African (MEA) regions, is expected to help SBR to account for the highest market share during the forecast epriod.
Synthetic Rubber Market Revenue Share

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Asia-Pacific to Dominate the Market

  • Asia-Pacific has dominated the synthetic rubber market owing to the high demand from countries like India and China.
  • In the Asia-Pacific region, China accounts for a lion share of the region’s synthetic rubber market.
  • China had become the largest producer, consumer, and importer of synthetic rubber, in recent years, globally.
  • Being a developing country, rapid industrialization is taking place in China, which has, in turn, led to a huge demand for synthetic rubber in various end-user industries.
  • Besides the growth of the automotive and footwear industries, China has a massive and growing market for sex dolls. This is also a major driver for the synthetic rubber market.
  • The aforementioned factors are expected to boost the growth of the synthetic rubber market in the region, during the forecast period.
Synthetic Rubber Market Regional Trends

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Competitive Landscape

The market studied is highly competitive and concentrated among the top players, with the top five players accounting for a major chunk of the market. Major recognized players of the market include ExxonMobil Chemical Company, Sinopec, Goodyear, Mitsubishi Chemical Holdings Corporation and Kumho Petrochemical Company, among others.

Major Players

  1. Exxon Mobil Corporation.
  2. Sinopec
  3. The Goodyear Tire & Rubber Company
  4. Kumho Petrochemical Company
  5. Mitsubishi Chemical Holdings Corporation

* Complete list of players covered available in the table of contents below

Synthetic rubber Market - Market concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from the Automotive Industry

      2. 4.1.2 Surging Demand for Athletic Footwear

      3. 4.1.3 Increasing Demand for Hydrogenated, Nitrile-butadiene Rubber (HNBR) in the Emerging Markets

    2. 4.2 Restraints

      1. 4.2.1 Substitution by Natural Rubber

      2. 4.2.2 Oversupply due to Consistent Capacity Additions

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Feedstock Analysis and Trends

    6. 4.6 Technological Snapshot

      1. 4.6.1 Production Process

      2. 4.6.2 Technology Licensing and Patent Analysis

    7. 4.7 Supply Scenario

      1. 4.7.1 Capacity and Production Analysis

    8. 4.8 Regulatory Policy Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Styrene Butadiene Rubber (SBR)

      2. 5.1.2 Ethylene Propylenediene Rubber (EPDM)

      3. 5.1.3 Polyisoprene (IR)

      4. 5.1.4 Polybutadiene Rubber (BR)

      5. 5.1.5 Other Types

    2. 5.2 Application

      1. 5.2.1 Tire and Tire Component

      2. 5.2.2 Non-tire Automobile Application

      3. 5.2.3 Footwear

      4. 5.2.4 Industrial Goods

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 ASEAN Countries

        6. 5.3.1.6 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 France

        3. 5.3.3.3 United Kingdom

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of the Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa (MEA)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Chevron Phillips Chemical Company

      2. 6.4.2 DuPont de Nemours, Inc.

      3. 6.4.3 Eastman Chemical Company

      4. 6.4.4 Exxon Mobil Corporation

      5. 6.4.5 Hexion

      6. 6.4.6 INEOS

      7. 6.4.7 LyondellBasell Industries Holdings BV

      8. 6.4.8 Mitsubishi Chemical Corporation (MCC)

      9. 6.4.9 Nova Chemicals Corporation

      10. 6.4.10 Saudi Aramco

      11. 6.4.11 SABIC

      12. 6.4.12 Sinopec

      13. 6.4.13 Kumho Petrochemical

      14. 6.4.14 TSRC

      15. 6.4.15 Goodyear

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Development of Bio-based Feedstock for Synthetic Rubber

    2. 7.2 Emerging Demand for Healthcare Gloves

**Subject to Availability

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