Bharat Book Bureau Provides the Treding Market Research Report on "Synthetic Rubber: Global Markets" under Chemical & Materials Category. The report offers a collection of superior market researach, market analysis, competitive intelligence and Market reports.

Summary:

The Global Synthetic Rubber Market totaled REDACTED million tons in 2019 and REDACTED million tons in 2020, with a growth rate of REDACTED% from 2019 to 2020. The market will reach REDACTED million tons by 2025 with a CAGR of REDACTED% from 2020 to 2025.

Synthetic rubber is widely used in the automotive industry to produce tires and other rubber components in cars, busses, trucks, etc. According to International Organization of Motor Vehicle Manufacturers (OICA), in 2000, approximately REDACTED million cars were produced around the world and about REDACTED million were produced in 2015. There has been a surge in new vehicle production and consumption in developing countries like China and India, and in many Southeast Asian countries. According to National Academy of Sciences, every year, Americans spend more than $REDACTED billion replacing their passenger car and light truck tires.

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Companies like Bridgestone Group, Michelin, Goodyear and Continental are among those which have taken initiatives to end the use of fossil fuels in tire manufacturing and produce tires completely from sustainable materials.

The Asia-Pacific makes up REDACTED% of the total synthetic rubber market, with China accounting for REDACTED% andthe rest of the Asia-Pacific totaling REDACTED%. At the end of 2016, the capacity in non-China Asia-Pacific exceeded China, as a majority of the expansions and new projects were from the rest of the Asia-Pacific region.

Overcapacity is one of the biggest challenges facing the global synthetic rubber industry, with one of the major reasons being over-investment in China during the past few years. Due to overcapacity, many manufacturers are forced to work with reduced or low operating rates, and a few have also delayed expansion projects.

In 2020, the automotive industry was severely hampered as manufacturing facilities were shut down and production came to standstill due to COVID-19. This resulted in a negative impact to growth rates in several countries. Some tire and synthetic rubber manufacturers decreased their production capacity or shut down a few of their facilities temporarily. Many global car manufacturers reduced their production in the first quarter of 2020 because of a lack of components from China. On the other hand, demand for synthetic rubber for glove production increased during the pandemic.

Table of Contents

Chapter 1 Introduction
- Study Goals and Objectives
- Reasons for Doing This Study
- Scope of This Report
- Information Sources
- Methodology
- Geographic Breakdown
- Analyst's Credentials
- Custom Research
- Research Reports
- Chapter 2 Summary and Highlights
- Chapter 3 Technology Background
- Origin of Synthetic Rubber
- World War I and World War II
- Synthetic versus Natural Rubber
- Chapter 4 Market Trends
- Drivers
- Growing Demand for Tires in the Automotive Industry
- Restraints
- Adverse Effects on the Environment
- Ecofriendly Tire Alternatives
- Challenges
- Overcapacity of Synthetic Rubber
- Rubber Recycling
- Opportunities
- Increasing Demand in Developing Regions
- Environmental Impact of Scrap Tires
- Environmentally Friendly Tire Technology
- COVID-19's Impact on Synthetic Rubber
- Impact Rubber Use on the Automotive Industry
- Impact of Use of Rubber in the Construction Industry
- Impact of Use of Rubber Gloves in Other Industries

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