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Synthetic Rubber Market Technologies, Trends, Industry Growth, Segments, Landscape and Demand by Forecast to 2029
The synthetic rubber market size was pegged at USD 28.89 billion in 2021. The market is anticipated to rise from USD 29.86 billion in 2022 to USD 41.73 billion by 2029 at a 4.9% CAGR during the forecast period. Fortune Business Insights™ has elucidated these insights in its latest research report, titled, “Synthetic Rubber Market, 2022-2029.”

According to the study, artificial elastomer has gained an uptick following the need for high tensile strength, recyclability and resistance to abrasion and swelling. Growing investments in research & development activities and demand from construction, aerospace, and construction sectors will augur well for the business outlook. Industry players expect the ensuing period to provide promising growth opportunities with rising demand from the end-users.


Report Coverage

The report offers a comprehensive perspective of the market size, share, volume, and revenue. It has also delved into SWOT analysis and Porters’ Five Force Analysis. The report has been prepared through qualitative and quantitative analysis to bolster the strategic approach. The primary interviews validate assumptions, findings and the prevailing business scenarios. The report also includes secondary resources, such as annual reports, press releases, white papers and journals.

Drivers and Restraints

Notable Trends from Automotive Sector to Propel Industry Outlook

The synthetic rubber market share will witness an upward trajectory on the back of surging demand for anti-slip properties across tire applications, including door & window profiles, flooring, O-rings & gaskets, hoses and belts. The automotive sector is likely to exhibit traction for synthetic rubber following the need for abrasion and temperature resistance. It is worth noting that artificial rubber has gained an uptick owing to its suitability for applications in environments exposed to high temperatures, greases, chemicals and oxidizing compounds.

However, potential health issues, including shortness of breath, asthma and stroke, could challenge industry players vying to boost their portfolios.

Key Industry Development

April 2020 - SIBUR’s Krasnoyarsk started its commercial manufacturing of synthetic nitrile butadiene rubber (NBR) latex with an annual capacity of 3.5 KT. The aim of the project is to develop a feedstock base for import substitution of diagnostic exam gloves through the localization of manufacturing in Russia. Hence, this development will help the company to set the stage for the development of the latex manufacturing industry.

Browse Summary:

https://www.fortunebusinessins....ights.com/synthetic-

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Plastic Compounding Market Latest Trends, COVID 19 Impact Analysis, Key Drivers and Future Demand Forecast 2026
The global plastic compounding market size is set to gain traction from their increasing usage in the automotive and packaging industry. Besides, construction activities in emerging economies are increasing at a fast pace. In addition to that, ongoing technological advancements in the electrical and automotive industries would affect the market positively in the coming years. The demand for these products is also growing from the food and beverage industry as they help in reducing quality degradation and contamination.

As per the report, the plastic compounding market size stood at USD 52.74 billion in 2018. It is set to reach USD 87.11 billion by 2026, thereby exhibiting a CAGR of 6.5% during the forecast period.

Automotive & Transportation Segment to Hold the Highest Share Backed by Extensive Usage of Compounded Plastics

In terms of application, the market is grouped into consumer goods/lifestyle, infrastructure & construction, industrial machinery, packaging, automotive & transportation, electrical & electronics, and others. Amongst these, the automotive and transportation segment is set to hold the largest plastic compounding market share during the forecast period. This growth is attributable to the increasing usage of compounded plastics in this industry. They lower the overall weight of the vehicle, which further increases the life and efficiency of the vehicle components. The infrastructure and construction segment held 14.6% share in 2018.


Regional Analysis-

Asia Pacific to Dominate Owing to High Demand for Low Emission Vehicles

Geographically, the market is divided into Europe, Asia Pacific, the Middle East and Africa, North America, and Latin America. Amongst them, Asia Pacific is anticipated to generate the highest plastic compounding market revenue in the coming years. The majority of this growth would be contributed by China and India, mainly because of the rising demand for low emission vehicles. It is helping the automotive sector to expand.

Asia Pacific is considered to be the largest producer of construction, automobiles, industrial machinery, electrical & electronics, and packaging materials. Coupled with this, the ongoing economic development and growing industrialization are set to impact the market positively in this region. The U.S. in North America previously held the largest share stoked by high demand for plastic compounding from healthcare & pharmaceutical, as well as electrical & electronics industries. The region procured USD 10.02 billion market share in 2018. In Europe, Germany is likely to be the main contributor of growth on account of the rising production of electric vehicles.



Browse Detailed Research Insights with Impact of COVID-19 Analysis:

https://www.fortunebusinessins....ights.com/plastic-co

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