Synthetic rubber is produced by the polymerization of
petroleum-derived monomers. Most synthetic rubbers are made up of two or more
monomers and hence have the desired superior properties. There are over 200
varieties of synthetic rubber available. The most consumed forms of synthetic
rubber include butadiene rubber (BR), acrylonitrile butadiene rubber (NBR),
styrene butadiene rubber (SBR) and ethylene propylene diene monomer (EPDM). Synthetic
rubber has been replacing natural rubber (NR) in a variety of applications due
to its inherent advantages in terms of its stability and physical properties.
Moreover, the supply of natural rubber is weakening, which makes prices highly
volatile. In light of this situation, it is imperative that an alternate source
to NR is developed and this comes about in the form of natural rubber.
China is the world’s largest producer and consumer of
synthetic rubber owing to large production plants for tire and other products.
The U.S., Japan, Korea, and Germany follow China in terms of consumption. Among
the various applications, tire manufacturing is the largest consumer of
synthetic rubber. However, there has been increasing use of synthetic rubber in
footwear and construction. The geographical segmentation of the market includes
North America, Latin America, Europe, Asia-Pacific, and MENA.
The substantial growth in the market is primarily due
to the growth of the automotive industry and the growing demand for tires.
Moreover, the growing disposable income levels have further boosted the demand
for other applications like footwear and construction. Also, natural rubber has
created big crossover opportunities for the development of the synthetic
market. Being petroleum derived, synthetic rubber experiences similar
price volatility as its raw materials like naphtha, ethylene and benzene. In
addition to this, the environmental concerns about crude oil and its derivative
could hamper the development of the market.
China is expected to drive the demand for synthetic
rubber due to its vast product manufacturing facilities. Furthermore, China has
the world’s largest automotive industry and is expected to maintain its
position over the next six years. The demand for high performance tires due to
the labeling regulations in countries like Japan, Korea, and EU has led to the
growth in Solution-SBR (S-SBR) demand. S-SBR is expected to gain a substantial
market share over the next six years. Lanxess is the world’s largest
manufacturer of synthetic rubber and has over 30 production sites across the
world. Some other major players in the market include Dow Chemicals, Sinopec,
Versalis, Asahi Kasei, and Synthos S.A among others.
This research report analyzes this market depending on
its market segments, major geographies, and current market trends. Geographies
analyzed under this research report include
North America
Asia Pacific
Europe
Rest of the World
This report provides comprehensive analysis
of
Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for upcoming years
This report is a complete study of current trends in
the market, industry growth drivers, and restraints. It provides market
projections for the coming years. It includes analysis of recent developments
in technology, Porter’s five force model analysis and detailed profiles of top
industry players. The report also includes a review of micro and macro factors
essential for the existing market players and new entrants along with detailed
value chain analysis.
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