The synthetic rubber market has been rising due to an increase in the demand for automobiles across the globe. There are various applications of synthetic rubber in the automobile sector such as in the rubber tires, rubber bumper, O-ring, rubber airbag, rubber seal and others. About 60% of the rubber used in the manufacturing of tires is synthetic rubber produced from the hydrocarbons derived from petroleum. Synthetic elastomers have the property to deform under stress and gain its original shape after the removal of stress. This property of hysteresis is an essential parameter for the manufacturing of high-grip tires that raises the demand for synthetic rubber in automotive applications.
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Substantial Opportunities in Emerging Markets such as China and India
Emerging economies such as China and India are expected to witness immense growth and development in the synthetic rubber market during the forecast period due to its rising application in the automotive tire and other automotive application coupled with a large pool of population in these countries. Growing application of hydrogenated nitrile-butadiene rubber (HNBR) in the emerging economies is propelling the market growth. Moreover, China contributes significantly to the market due to rapid industrialization and government policy to promote rubber production raises the demand for synthetic rubber in the country. Additionally, growing demand for synthetic rubber in the footwear industry is contributing to the growth of the market in the region.
The growing trend toward lightweight products
Increasing preference light weight and durable products in various industrial applications are estimated to contribute to the growth of the synthetic rubber market. There are different types of lightweight products such as hand gloves that can be utilized in several places such as in medical field, welding sector for industrial application. The synthetic rubber gloves have high strength and are durable in nature. There are different types of rubber suits such as rubber wet suit, rubber dry suit, rubber rain suit and so on. In defense there is armor made of synthetic rubber. These applications of synthetic rubber further propel market growth.
Rising Environmental concern
Rising environmental concern due to the production and application of the synthetic rubber may hinder the synthetic rubber market during the forecast period. There is a huge amount of carbon dioxide emitted that increase the greenhouse gases, impacting the ozone layer and increase global warming eventually. There are several types of pollution caused while the production as the plastic waste has to be dumped on the land causing land pollution. Owing to disadvantages such as toxic smoke generation when burned, incompatibility with solvents and many more, the use of synthetic rubber in industries may get affected which ultimately hinders the market growth in the forecast period.
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Global Synthetic Rubber Market- Segmentation
By Type
- Styrene Butadiene Rubber (SBR)
- Polybutadiene Rubber (BR)
- Styrene Block Copolymer (SBC)
- Ethylene Propylene Diene Monomer (EPDM)
- Butyl Rubber
- Others (Nitrile Butadiene Rubber)
By Application
- Automotive
- Industrial
- Footwear
- Other (Electronics)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
