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Press Release

Synthetic Rubber Market Size, Share And Industry Analysis By Product Type, By Application, Segment Forecasts To 2027 : DuPont, INEOS, ExxonMobil Corporation, etc.

Market Size – USD 31.78 billion in 2019, Market Growth - CAGR of 4.6%, Market Trends – increasing demand from the footwear industry

This press release was orginally distributed by SBWire

New York, NY -- (SBWIRE) -- 01/20/2021 -- Increasing demand of synthetic rubber for tire production is one of the significant factors influencing the market growth.
Market Size – USD 31.78 billion in 2019, Market Growth - CAGR of 4.6%, Market Trends – increasing demand from the footwear industry

The global synthetic rubber market is expected to reach USD 45.72 Billion by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the increasing end-use applications of synthetic rubber.

Increasing demand of synthetic rubber for tire production is one of the significant factors influencing the market growth. The benefits of synthetic rubber comprises exceptional abrasion resistance and adhesion to metals, thereby making it suitable in making of seals, gaskets, and other products. Also, synthetic rubber provides optimum performance in harsh temperatures owing to better heat resistance quality. It has been found that tires manufactured from synthetic rubber lose around 30.0% less mass as compared to tires produced from natural rubber. Moreover, the advancement in production technology has transformed the automobile industry, which is expected to experience increased sales in the upcoming years, thus creating an increase in the demand for tires, and in turn, would drive the growth of the market.

Some of the key players operating in the Synthetic Rubber market are DuPont, Eastman Chemical Company, INEOS, ExxonMobil Corporation, Chevron Phillips Chemical Company, Nova Chemicals Corporation, Mitsubishi Chemical Corporation, SABIC, Sinopec, and Goodyear, among others.

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Growing demand for synthetic rubber from the footwear industry is fuelling the market demand. The footwear industry using a wide variety of materials that are used to make footwear ranging from casual footwear to technical products, including protective and safety footwear. Synthetic rubber possesses several superior physical characteristics appropriate for producing shoe sole; specifically, abrasion resistance, durability, tensile resistance, slip resistance, tear strength resistance, oil resistance, and the capacity to be molded in different shades.

Further key findings from the report suggest

- By product type, styrene-butadiene rubber contributed to the largest market share in 2019. Styrene-butadiene rubber polymer substitutes natural rubber because it is more environmental friendly and provides various benefits. For example, this product type provides crack endurance, exceptional abrasion resistance, and usually ages well. Furthermore, it offers excellent water resistance and compression set resistance.
- By application, footwear application is estimated to grow at a rate of 3.7% in the forecast period.
- By distribution channel, the online distribution channel is projected to grow at a faster rate of 7.1% in the period 2020-2027, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
- The market in the Asia Pacific region dominated the market in 2019 and is projected to grow at a rate of 5.4% in the forecast period. The market dominance of the APAC region is attributed to the rapid urbanization, rise in the level of disposable income, and growth of the end-use industries, particularly the automotive and footwear industry.
- Key participants include DuPont, Eastman Chemical Company, INEOS, ExxonMobil Corporation, Chevron Phillips Chemical Company, Nova Chemicals Corporation, Mitsubishi Chemical Corporation, SABIC, Sinopec, and Goodyear, among others.

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Product Type Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
- Styrene-Butadiene Rubber
- Ethylene Propylenediene Rubber
- Polyisoprene
- Polybutadiene Rubber
- Others

Application Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
- Automotive
- Footwear
- Industrial Goods
- Others

Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
- Online
- Offline

Click on the Link to Read Key Highlights of the Report and Look at Projected Trends for Years to Come @ https://www.reportsanddata.com/report-detail/synthetic-rubber-market

The report covers all the investment opportunities, market dynamics, threats, opportunities, challenges, restraining factors, and technological advancements in the global Synthetic Rubber market. The report covers key regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report provides extensive details about the production and consumption pattern, supply and demand ratio, sales, market share and size, and the existence of the key players in each region. The report also offers an estimation regarding the key regions expected to demonstrate a significant growth rate over the coming years.

The regional analysis covers the following regions of the key geographies of the Synthetic Rubber market:

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Global Synthetic Rubber Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2019-2027

Chapter 3. Indicative Metrics

Chapter 4. Synthetic Rubber Market Segmentation & Impact Analysis

Continued……….

Read Full Report with TOC- @ https://www.reportsanddata.com/report-detail/synthetic-rubber-market/toc

Thank you for reading our report. To inquire about customization or any queries about the report, please get in touch with us. Our team will make sure the report is best suited to your needs.

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About Reports and Data:

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