Liquid Synthetic Rubber Market to USD 5.18 billion growth between 2022 – 2027, Driven by Increasing demand from tire industry – Technavio

NEW YORK, Sept. 27, 2023 /PRNewswire/ — The Liquid Synthetic Rubber Market report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the liquid synthetic rubber market between 2022 and 2027 is USD 5.18 billion. Increasing demand from the tire industry drives the growth of the liquid synthetic rubber market. The automotive sector is the major user of the global liquid synthetic rubber market because it is widely used in the manufacture of tire products. The products include automotive tires and tires. bicycles tires, and airplane tires. It has replaced natural rubber for manufacturing because of its lower prices compared to natural rubber. It also offers other properties, especially in terms of durability and rolling resistance, and is used mainly for passenger and motorcycle tires because it provides good traction performance. Hence, such factors drive the growth of the liquid synthetic rubber market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

  • Market Challenge – Recovery of the natural rubber industry challenges the growth of the liquid synthetic rubber market. Organization of the Petroleum Exporting Countries (OPEC) has decided to cut crude oil supply, which is contributing to the recovery of natural rubber prices. Furthermore,  other factors behind the recovery of natural rubber prices include renewed expectations for a rapid global economic recovery and high speculation about lower supply. Hence, such factors challenge the growth of the liquid synthetic rubber market during the forecast period. Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now

The liquid synthetic rubber market is segmented by Application (Tyre, Industrial rubber, Adhesives, Polymer modification, and Others) and Geography (APAC, Europe, North America, Middle East and Africa, and South America). 

  • The tire segment is significant during the forecast period. In the bicycle and motorcycle tire industry, liquid synthetic rubber is used in high-performance applications. Given factors like the large amount of liquid synthetic rubber used in the manufacture of tires and tire-related products, the market relies on the automotive industry and the tire sector for growth. Hence, such factors drive the growth of the tire segment of the liquid synthetic rubber market during the forecast period.
  • APAC will contribute 50% to the growth of the global market during the forecast period. View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Liquid Synthetic Rubber Market:

Chevron Phillips Chemical Co. LLC, CSRC Investment Holdings Co. Ltd., ENEOS Holdings Inc, Eni SpA, Evonik Industries AG, Exxon Mobil Corp., H.B. Fuller Co., KURARAY Co. Ltd., Lanxess AG, LG Chem Ltd., Michelin Group, MITSUI and CO. LTD., PJSC SIBUR Holding, Saudi Arabian Oil Co., SK Innovation Co. Ltd., Sumitomo Chemical Co. Ltd., Synthomer Plc, Ter Group, The Goodyear Tire and Rubber Co., Zeon Corp.

Related Reports:

The synthetic rubber market size is estimated to grow at a CAGR of 5.67% between 2022 and 2027. The market size is forecast to increase by USD 12,757.69 million.

The rubber market size is estimated to grow at a CAGR of 5.28% between 2022 and 2027. The rubber market size is forecast to increase by 8,795.35 MT.

Liquid Synthetic Rubber Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4.36%

Market growth 2023-2027

USD 5.18 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.81

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 50%

Key countries

US, China, India, Japan, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Chevron Phillips Chemical Co. LLC, CSRC Investment Holdings Co. Ltd., ENEOS Holdings Inc, Eni SpA, Evonik Industries AG, Exxon Mobil Corp., H.B. Fuller Co., KURARAY Co. Ltd., Lanxess AG, LG Chem Ltd., Michelin Group, MITSUI and CO. LTD., PJSC SIBUR Holding, Saudi Arabian Oil Co., SK Innovation Co. Ltd., Sumitomo Chemical Co. Ltd., Synthomer Plc, Ter Group, The Goodyear Tire and Rubber Co., and Zeon Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Product Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio