Liquid Synthetic Rubber Market Future Revenues to Take Flight as Market Size Continues to Expand
Liquid Synthetic Rubber Market Trends
The global liquid synthetic rubber market is driven by the increasing production of tires worldwide and the growing usage of liquid synthetic rubber.
WILMINGTON, DELAWARE, UNITED STATES, April 17, 2024 /EINPresswire.com/ -- According to the report published by 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 report provides a comprehensive analysis of market dynamics, key segments, value chain, investment opportunities, competitive scenario, and regional landscape.
The global liquid synthetic rubber market is driven by the increasing production of tires worldwide and the growing usage of liquid synthetic rubber in the adhesive industry. However, the market growth is hindered by fluctuations in raw material prices. On the other hand, the increasing penetration of liquid synthetic rubber in industrial rubber manufacturing presents new growth opportunities.
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The COVID-19 pandemic has impacted the liquid synthetic rubber market. The lockdown measures imposed during the pandemic disrupted the manufacturing activities of tires, adhesives, and automotive parts, leading to a decrease in demand for liquid synthetic rubber. The supply chain has also been disrupted due to restrictions on local and international transportation, resulting in a supply-demand gap. However, as manufacturing activities resume and the post-lockdown period progresses, the demand for liquid synthetic rubber is expected to slowly recover.
The report offers a detailed segmentation of the global liquid synthetic rubber market based on product, application, and region. In terms of product, the liquid styrene butadiene rubber segment accounted for the largest share in 2019 and is expected to maintain its leadership position during the forecast period. The liquid isoprene rubber segment is projected to exhibit the highest growth rate from 2020 to 2027.
In terms of application, the tire manufacturing segment held the largest share in 2019 and is expected to continue its dominance in terms of revenue throughout the forecast period. The adhesives segment is projected to witness the fastest growth rate from 2020 to 2027.
Geographically, Asia-Pacific accounted for the largest revenue share in 2019, contributing to nearly three-fifths of the total market share. The region is expected to maintain its highest contribution and exhibit the highest growth rate during the forecast period. The report also analyzes the liquid synthetic rubber market in North America, Europe, and LAMEA (Latin America, Middle East, and Africa) regions.
The report profiles leading players in the global liquid synthetic rubber market, including 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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David Correa
Allied Market Research
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