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Synthetic Rubber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global synthetic rubber market reached a value of US$ 30.64 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 38.51 Billion by 2027, exhibiting a growth rate (CAGR) of 3.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Synthetic rubber is a man-made rubber, or an artificial elastomer, produced from various petroleum-based monomers. It is synthesized from raw materials, such as oil, coal, natural gas and acetylene. Ethylene propylene diene, polyisoprene, polybutadiene, styrene-butadiene and isobutylene isoprene are some of the commonly used synthetic rubbers. It is widely used in belts, hoses, seals, floor coverings, tires, footwear and conveyor belts. As compared to natural rubber, synthetic rubber exhibits better elasticity, toughness, flexibility at low temperatures, adhesiveness, resistance to water, heat, alkalis, acids, abrasion, grease and oil. It also provides high resilience, good tensile strength, durability, and tear resistance.

 

 
 

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Synthetic Rubber Market Trends:

The significant expansion in the automotive industry across the globe is creating a positive outlook for the market growth. Synthetic rubber is widely used in vehicle components, such as tires, doors, window profiles, belts and gaskets, owing to its good ageing stability and high abrasion resistance. In line with this, the widespread utilization of styrene-butadiene rubber (SBR) for the manufacturing of tires due to its resistance with alcohol, silicone oil, grease, water and weak acids is favoring the market growth. Moreover, various product innovations, such as the introduction of chemically optimized synthetic rubber with tailor-made silica that provides enhanced wear efficacy and rolling resistance, while reducing fuel consumption and carbon dioxide emissions, are providing an impetus to the market growth. Additionally, the increasing product demand in dimensionally stable and elastically malleable technical products, such as roller coverings, roof sheeting, conveyor belts and molded parts, is positively impacting the market growth. Apart from this, the widespread adoption of electric vehicles (EVs) and the introduction of bio-based feedstock for synthetic rubber are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global synthetic rubber market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, form and application.

Breakup by Type:

 

 
 

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  • Styrene Butadiene Rubber
  • Ethylene Propylene Diene Rubber
  • Polyisoprene
  • Polybutadiene Rubber
  • Isobutylene Isoprene Rubber
  • Others
     

Breakup by Form:

  • Liquid Synthetic Rubber
  • Solid Synthetic Rubber
     

Breakup by Application:

  • Tire and Tire Component
  • Non-Tire Automobile Application
  • Footwear
  • Industrial Goods
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Apcotex Industries Limited, Asahi Kasei Corporation, China Petrochemical Corporation, Denka Company Limited, Exxon Mobil Corporation, JSR Corporation, Kumho Petrochemical Co. Ltd., Lanxess AG, LG Chem Ltd., PJSC Nizhnekamskneftekhim, Reliance Industries Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), The Goodyear Tire & Rubber Company, TSRC Corporation and Zeon Corporation.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Form, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Apcotex Industries Limited, Asahi Kasei Corporation, China Petrochemical Corporation, Denka Company Limited, Exxon Mobil Corporation, JSR Corporation, Kumho Petrochemical Co. Ltd., Lanxess AG, LG Chem Ltd., PJSC Nizhnekamskneftekhim, Reliance Industries Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), The Goodyear Tire & Rubber Company, TSRC Corporation and Zeon Corporation.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Synthetic Rubber Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Styrene Butadiene Rubber
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Ethylene Propylene Diene Rubber
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Polyisoprene
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Polybutadiene Rubber
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Isobutylene Isoprene Rubber
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6    Others
        6.6.1 Market Trends
        6.6.2 Market Forecast
7    Market Breakup by Form
    7.1    Liquid Synthetic Rubber
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Solid Synthetic Rubber
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Application
    8.1    Tire and Tire Component
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Non-Tire Automobile Application
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Footwear
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Industrial Goods
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Others
        8.5.1 Market Trends
        8.5.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Apcotex Industries Limited
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
        14.3.2    Asahi Kasei Corporation 
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
           14.3.2.4 SWOT Analysis
        14.3.3    China Petrochemical Corporation
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 Financials
           14.3.3.4 SWOT Analysis
        14.3.4    Denka Company Limited
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
        14.3.5    Exxon Mobil Corporation
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials
           14.3.5.4 SWOT Analysis
        14.3.6    JSR Corporation
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    Kumho Petrochemical Co. Ltd.
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
           14.3.7.4 SWOT Analysis
        14.3.8    Lanxess AG
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
           14.3.8.4 SWOT Analysis
        14.3.9    LG Chem Ltd.
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis
        14.3.10    PJSC Nizhnekamskneftekhim
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Reliance Industries Limited
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis
        14.3.12    Saudi Basic Industries Corporation (Saudi Arabian Oil Co.)
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials
           14.3.12.4 SWOT Analysis
        14.3.13    The Goodyear Tire & Rubber Company
           14.3.13.1 Company Overview
           14.3.13.2 Product Portfolio
           14.3.13.3 Financials
           14.3.13.4 SWOT Analysis
        14.3.14    TSRC Corporation
           14.3.14.1 Company Overview
           14.3.14.2 Product Portfolio
           14.3.14.3 Financials
        14.3.15    Zeon Corporation
           14.3.15.1 Company Overview
           14.3.15.2 Product Portfolio
           14.3.15.3 Financials

List of Figures

Figure 1: Global: Synthetic Rubber Market: Major Drivers and Challenges
Figure 2: Global: Synthetic Rubber Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Synthetic Rubber Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Synthetic Rubber Market: Breakup by Type (in %), 2021
Figure 5: Global: Synthetic Rubber Market: Breakup by Form (in %), 2021
Figure 6: Global: Synthetic Rubber Market: Breakup by Application (in %), 2021
Figure 7: Global: Synthetic Rubber Market: Breakup by Region (in %), 2021
Figure 8: Global: Synthetic Rubber (Styrene Butadiene Rubber) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Synthetic Rubber (Styrene Butadiene Rubber) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Synthetic Rubber (Ethylene Propylene Diene Rubber) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Synthetic Rubber (Ethylene Propylene Diene Rubber) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Synthetic Rubber (Polyisoprene) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Synthetic Rubber (Polyisoprene) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Synthetic Rubber (Polybutadiene Rubber) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Synthetic Rubber (Polybutadiene Rubber) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Synthetic Rubber (Isobutylene Isoprene Rubber) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Synthetic Rubber (Isobutylene Isoprene Rubber) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Synthetic Rubber (Other Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Synthetic Rubber (Other Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Synthetic Rubber (Liquid Synthetic Rubber) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Synthetic Rubber (Liquid Synthetic Rubber) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Synthetic Rubber (Solid Synthetic Rubber) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Synthetic Rubber (Solid Synthetic Rubber) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Synthetic Rubber (Tire and Tire Component) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Synthetic Rubber (Tire and Tire Component) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Synthetic Rubber (Non-Tire Automobile Application) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Synthetic Rubber (Non-Tire Automobile Application) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Synthetic Rubber (Footwear) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Synthetic Rubber (Footwear) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Synthetic Rubber (Industrial Goods) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Synthetic Rubber (Industrial Goods) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Synthetic Rubber (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Synthetic Rubber (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: North America: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: North America: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: United States: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: United States: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Canada: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Canada: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Asia-Pacific: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Asia-Pacific: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: China: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: China: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Japan: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Japan: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: India: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: India: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: South Korea: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: South Korea: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Australia: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Australia: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Indonesia: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Indonesia: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Others: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Others: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Europe: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Europe: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Germany: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Germany: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: France: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: France: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: United Kingdom: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: United Kingdom: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Italy: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Italy: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Spain: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Spain: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Russia: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Russia: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Others: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Others: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Latin America: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Latin America: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Brazil: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Brazil: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Mexico: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Mexico: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Others: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Others: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Middle East and Africa: Synthetic Rubber Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Middle East and Africa: Synthetic Rubber Market: Breakup by Country (in %), 2021
Figure 82: Middle East and Africa: Synthetic Rubber Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 83: Global: Synthetic Rubber Industry: SWOT Analysis
Figure 84: Global: Synthetic Rubber Industry: Value Chain Analysis
Figure 85: Global: Synthetic Rubber Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Synthetic Rubber Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Synthetic Rubber Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Synthetic Rubber Market Forecast: Breakup by Form (in Million US$), 2022-2027
Table 4: Global: Synthetic Rubber Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Synthetic Rubber Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Synthetic Rubber Market: Competitive Structure
Table 7: Global: Synthetic Rubber Market: Key Players


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Key Questions Answered in This Report

The global synthetic rubber market was valued at US$ 30.64 Billion in 2021.

We expect the global synthetic rubber market to exhibit a CAGR of 3.70% during 2022-2027.

The rising utilization of synthetic rubber in vehicle components, such as tires, doors, window profiles, etc., owing to its good ageing stability and resistance to water and heat is primarily driving the global synthetic rubber market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units for synthetic rubber.

Based on the type, the global synthetic rubber market can be categorized into styrene butadiene rubber, ethylene propylene diene rubber, polyisoprene, polybutadiene rubber, isobutylene isoprene rubber, and others. Among these, styrene butadiene rubber exhibits clear dominance in the market.

Based on the form, the global synthetic rubber market has been segmented into liquid synthetic rubber and solid synthetic rubber. Currently, solid synthetic rubber represents the largest market share.

Based on the application, the global synthetic rubber market can be bifurcated into tire and tire component, non-tire automobile application, footwear, industrial goods, and others. Among these, tire and tire component accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where Asia-Pacific currently dominates the global market.

Some of the major players in the global synthetic rubber market include Apcotex Industries Limited, Asahi Kasei Corporation, China Petrochemical Corporation, Denka Company Limited, Exxon Mobil Corporation, JSR Corporation, Kumho Petrochemical Co. Ltd., Lanxess AG, LG Chem Ltd., PJSC Nizhnekamskneftekhim, Reliance Industries Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), The Goodyear Tire & Rubber Company, TSRC Corporation, and Zeon Corporation.

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