(MENAFN- EIN Presswire)
Liquid Synthetic Rubber market Overview
The growing global tyre manufacturing sector remains the primary consumer of liquid synthetic rubber.
WILMINGTON, DE, UNITED STATES, December 18, 2024 /EINPresswire / -- The growth of the global liquid synthetic rubber market is driven by an increase in tyre production worldwide and a rise in demand from the adhesive industry. However, fluctuating raw material prices and
supply chain disruptions due to the
COVID-19 pandemic have posed challenges to the market. Despite these hurdles, the market is expected to recover and grow steadily in the coming years, driven by new opportunities in industrial rubber manufacturing.
Market Overview:
According to Allied Market Research, the global liquid synthetic rubber market was valued at $20.3 billion in 2019 and is projected to reach $28.8 billion by 2027, with a CAGR of 4.5% from 2020 to 2027. The comprehensive report analyzes the market's changing dynamics, key segments, value chain, investment pockets, competitive landscape, and regional trends.
Download Sample Pages of Research Overview:
Key Insights:
Drivers:
- Tyre Production: The growing global tyre manufacturing sector remains the primary consumer of liquid synthetic rubber, contributing significantly to market demand.
- Adhesive Applications: Rising adoption of liquid synthetic rubber in the adhesive industry due to its superior bonding properties.
Restraints:
- Raw Material Price Volatility: Frequent fluctuations in raw material costs create uncertainty, hindering market growth.
Opportunities:
- Industrial Rubber Penetration: Expanding applications in industrial rubber manufacturing present lucrative growth opportunities.
Market Segmentation:
By Product:
Liquid Styrene Butadiene Rubber (LSBR):
- Largest market share in 2019, accounting for over 40% of the total.
- Expected to maintain its dominance throughout the forecast period.
Liquid Isoprene Rubber (LIR):
- Anticipated to exhibit the fastest CAGR of 6.3% from 2020 to 2027.
By Application:
Tyre Manufacturing:
- Largest application segment, contributing to over 40% of the market share in 2019.
- Expected to retain its leadership in revenue.
Adhesives:
- Projected to register the highest CAGR of 5.0% during the forecast period.
By Region:
Asia-Pacific:
- Held nearly 60% of the total market share in 2019.
- Expected to continue its dominance with the highest CAGR of 4.8% by 2027.
- Other Regions: North America, Europe, and LAMEA are also analyzed for their growth potential.
Leading Market Players:
The report highlights key players driving the market's competitive landscape:
- Evonik Industries
- Synthomer PLC
- H.B. Fuller
- Kuraray Co., Ltd.
- Asahi Kasei Corporation
- Saudi Aramco
- Efremov Synthetic Rubber
- Sibur International GmbH
- Nippon Soda Co., Ltd.
- Puyang Linshi Chemical New Material Co., Ltd.
Interested in Procuring This Report? Visit Here:
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR 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.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN18122024003118003196ID1109008243
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.