Liquid Synthetic Rubber Market Structure Understanding Key Players And Their Influence

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Liquid Synthetic Rubber market Structure

The market's growth is driven by increased usage in adhesives and tire manufacturing worldwide. However, fluctuating raw material prices pose a challenge.

WILMINGTON, DELAWARE, UNITED STATES, July 8, 2024 /EINPresswire / -- Allied Market Research recently released a report titled "Liquid Synthetic Rubber Market ," forecasting substantial growth in this sector. In 2019, the global market was valued at $20.3 billion and is expected to reach $28.8 billion by 2027, growing at a CAGR of 4.5% from 2020 to 2027.

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Key Drivers, Restraints, and Opportunities:

The market's growth is driven by increased usage in adhesives and tire manufacturing worldwide. However, fluctuating raw material prices pose a challenge. Nonetheless, expanding applications in industrial rubber manufacturing present promising opportunities for market players in the future.

Impact of COVID-19:

The pandemic caused disruptions in production facilities, leading to shortages of liquid synthetic rubbers. Demand for tires, automotive parts, and construction materials declined globally due to lockdowns and travel bans, further impacting market growth.

Segment Insights:

Product Segmentation: Liquid styrene butadiene rubber held the largest market share in 2019, driven by tire durability concerns and regulatory compliance. Liquid isoprene rubber is anticipated to grow the fastest, with a projected CAGR of 6.3% due to infrastructure development in countries like India and China.

Application Segmentation: The adhesives segment is expected to achieve the highest CAGR (5.0%) through 2027, supported by increased construction activities in developing nations. Tire manufacturing accounted for the largest share in 2019, owing to significant production hubs in China, Japan, and India.

Regional Insights:

Asia-Pacific led the market in 2019 and is projected to maintain the highest CAGR (4.8%) through 2027. This growth is attributed to rapid advancements in manufacturing and construction sectors across countries like China, India, and Japan.

Key Players:

Major players in the liquid synthetic rubber market include H.B. Fuller, Evonik Industries, Asahi Kasei Corporation, Synthomer PLC, Efremov Synthetic Rubber, Kuraray Co., Ltd., and others.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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