Liquid Synthetic Rubber Market Growth

Factors such as increased tire production worldwide and growing usage in the adhesive industry are propelling the growth of the global market.

WILMINGTON, DELAWARE, UNITED STATES, February 9, 2024 /EINPresswire.com/ -- The global liquid synthetic rubber market, as outlined in a report by Allied Market Research, achieved a value of $20.3 billion in 2019 and is predicted to reach $28.8 billion by 2027, with a compound annual growth rate (CAGR) of 4.5% from 2020 to 2027. This report offers an in-depth analysis of market dynamics, key segments, value chain, investment opportunities, competitive landscape, and regional outlook.

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Factors such as increased tire production worldwide and growing usage in the adhesive industry are propelling the growth of the global liquid synthetic rubber market. However, fluctuations in raw material prices pose a challenge to market expansion. Nonetheless, the rising penetration in industrial rubber manufacturing presents promising opportunities for future growth.

The COVID-19 pandemic significantly impacted the market, with disruptions in manufacturing activities for tires, adhesives, and automotive parts leading to reduced demand for liquid synthetic rubber. Supply chain disruptions due to transportation restrictions further exacerbated the situation, resulting in a supply-demand gap. Raw material shortages also hampered manufacturing activities. However, post-lockdown, as manufacturing activities resume and demand gradually increases, market growth is expected to recover.

The report provides a detailed segmentation of the global liquid synthetic rubber market based on product, application, and region. Liquid styrene butadiene rubber dominated the market in 2019 and is projected to maintain its leading position throughout the forecast period. However, the liquid isoprene rubber segment is anticipated to witness the highest growth rate during the forecast period.

In terms of applications, the tire manufacturing segment held the largest share in 2019 and is expected to remain dominant in terms of revenue. However, the adhesives segment is forecasted to experience the fastest growth rate.

Regionally, Asia-Pacific accounted for the largest market share in 2019 and is expected to maintain its dominance, with the highest projected CAGR during the forecast period. The report also analyzes other key regions including North America, Europe, and LAMEA.

Key players in the global liquid synthetic rubber market include 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., and Puyang Linshi Chemical New Material Co., Ltd.

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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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