The Synthetic Rubber Market is Estimated to be USD 28.88 Billion in 2017 and is Projected to Reach USD 37.82 Billion by 2022

The Synthetic Rubber Market is Estimated to be USD 28.88 Billion in 2017 and is Projected to Reach USD 37.82 Billion by 2022

PR Newswire

DUBLIN, Dec. 6, 2017

DUBLIN, Dec. 6, 2017 /PRNewswire/ --

The "Synthetic Rubber Market by Type (SBR, BR, SBC, EPDM, IIR, NBR), Application (Tire, Non-Tire Automotive, Footwear, Industrial), and Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa) - Global Forecast to 2022" report has been added to Research and Markets' offering.

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The Synthetic Rubber Market is Estimated to Be USD 28.88 Billion in 2017 And is Projected to Reach USD 37.82 Billion By 2022, Registering a CAGR of 5.5% Between 2017 And 2022.

Synthetic rubber is mostly produced from crude oil and natural gas, by the polymerization of monomers. Although used in a wide range of applications, its major application is in tires. There has been a growing demand for synthetic rubber from applications, such as tire, non-tire automotive, footwear, industrial, and others. Environmental regulations related to synthetic rubber may act as a restraint for the synthetic rubber market.

Based on type, the NBR (nitrile butadiene rubber) segment is projected to witness the highest growth during the forecast period. NBR is mostly used in applications where high oil resistance is required. Increasing demand for hoses, belts, and cables in the manufacturing and automotive industries in APAC, is likely to fuel the growth of the NBR segment over the forecast period. Rapid industrialization in China and India is anticipated to drive the demand for NBR in APAC over the next six years.

The IIR (isobutylene-isoprene rubber) segment is estimated to be the second-fastest growing type segment of the synthetic rubber market during the forecast period. IIR is used in inner linings of tires and in linings of tubeless tires. Due to its property of high resistance, IIR is mainly used in hoses and curing bags used in tire vulcanization.

Based on application, the tire segment accounted for the major share of the overall synthetic rubber market in 2016. This large share is attributed to the high demand for synthetic rubber in tire manufacturing due to the ideal features provided by synthetic rubber, such as directional stability, rolling resistance, wet traction, puncture resistance, steering response, speed and run-flat capability, impact resistance, high fuel efficiency, and weather resistance to function in challenging conditions.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Synthetic Rubber Market, By Type

7 Synthetic Rubber Market, By Application

8 Synthetic Rubber Market, By Region

9 Competitive Landscape

10 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/nds9nd/synthetic_rubber

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