Global Synthetic Rubber Market to Reach 19.6 Million Metric Tons by 2027
Amid the COVID-19 crisis, the global market for Synthetic Rubber estimated at 16.3 Million Metric Tons in the year 2020, is projected to reach a revised size of 19.6 Million Metric Tons by 2027, growing at a CAGR of 2.7% over the analysis period 2020-2027. Styrene-Butadiene Rubber, one of the segments analyzed in the report, is projected to record a 2.7% CAGR and reach 7.2 Million Metric Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Polybutadiene Rubber segment is readjusted to a revised 2.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at 4.4 Million Metric Tons, While China is Forecast to Grow at 5% CAGR
The Synthetic Rubber market in the U.S. is estimated at 4.4 Million Metric Tons in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 3.9 Million Metric Tons by the year 2027 trailing a CAGR of 5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7% and 2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR.
Ethylene Propylene Rubber Segment to Record 2.7% CAGR
In the global Ethylene Propylene Rubber segment, USA, Canada, Japan, China and Europe will drive the 2.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of 1.1 Million Metric Tons in the year 2020 will reach a projected size of 1.3 Million Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 2.7 Million Metric Tons by the year 2027, while Latin America will expand at a 3.5% CAGR through the analysis period. We bring years of research experience to this 17th edition of our report. The 222-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Asahi Kasei Chemicals Corp.
- Chongqing Changshou Chemical Co. Ltd.
- Denka Co. Ltd.
- Dow Inc.
- Dynasol Elastomers
- ExxonMobil Chemical Company
- Firestone Polymers LLC
- Goodyear Tire & Rubber Company
- JSR Corporation
- Korea Kumho Petrochemical Company
- Lanxess AG
- LG Chem Ltd.
- Lion Elastomers
- Shanxi Synthetic Rubber Group Co. Ltd.
- Showa Denko K.K
- SIBUR Holding JSC
- SINOPEC Qilu Petrochemical Co. Ltd.
- Sumitomo Chemical Co., Ltd.
- Synthos S.A.
- Tosoh Corporation
- TSRC Corporation
- UBE Industries Ltd.
- Versalis S.p.A.
- Zeon Corporation