DataM IntelligenceThe Global Liquid Synthetic Rubber Market is projected to grow at a CAGR of 5.9% during the forecast period 2022-2029Market Overview
Liquid synthetic rubber (LSR) is used as one of the alternatives for natural rubber. The polymer compounds such as cis-1,4-polyisoprene, cis-1,4-polybutadiene, and styrene are the major raw materials used in the manufacturing of LSR. These high-viscosity synthetic rubbers are based on isoprene, butadiene and styrene have major applications in the tire industry.
The LSR industry growing at a healthy pace especially in the Asia-Pacific region owing to an increase in the supply-demand gap. For instance, in India, Natural rubber production declines, demand-supply gap rises to 45% in the period between April 2018 to January 2019.
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Natural Rubber Vs Synthetic Rubber Production Trends
The world production of Natural rubber was reached to 15,051 million metric tons in 2017. Globally, Asia-Pacific is leading in the production of natural rubber in 2017, out of 28 countries 12 highest production countries are in Asia. Thailand ranks first in natural rubber production in the world in 2017 followed by Indonesia, Malaysia, and India. Their natural rubber production was 3.12, 2.54, 1.27, and 0.803 million metric tons respectively. Vietnam, China, and the Philippines are other prominent countries in the production of natural rubber.
The production of synthetic rubber is also growing at a healthy pace owing to several reasons such as the supply-demand gap, low natural rubber production in other than the Asia-Pacific region, and higher consumption of rubber in industries such tires and adhesives & sealants. The production of synthetic rubber is high in the countries such as Germany, UK, Italy, the United States, Spain, and China, Spain due to the high supply-demand gap. This gap is majorly due to low natural rubber production and huge import tariffs. In 2017, Asia-Pacific is the major producer of synthetic rubber followed EMEA (Europe, Middle East, & Africa) and Americas with 8.0, 4.04, and 2.99 million tons respectively.
The report covers all the major trends and drivers playing a key role in the growth of the Liquid Synthetic Rubber Market. The wood Packaging market is segmented by Product, Application and Region.
Market Dynamics
Rising demand for automotive tires, increasing demand for lightweight footwear, and lower processing costs are some of the factors influencing the growth of the liquid synthetic rubber market. Using liquid synthetic rubber during the rubber compounding phase significantly reduces processing time while maintaining the rubber compounds’ physical properties. This results in a product with lower processing costs. Also, increasing tire production will boost the LSR market further. Asia-Pacific is the world’s largest and fastest tire market owing to an increase in motorcycle tire sales and growing disposable income levels. Motorcycle tire sales are largely concentrated in fast-growing developing areas in the Asia/Pacific region, where motorcycles are used as low-cost substitutes for motor vehicles. In these countries, motorcycle sales are expected to continue to register healthy advances as economic growth spurs additional purchases and income levels remain too low for much of the population to upgrade to motor vehicles.
However stringent government regulations especially in Europe and the United States is hindering the liquid synthetic rubber market growth. The growing development of innovative products and increasing mergers & acquisitions by key players are expected to provide various opportunities for market growth during the forecast period.
Market Segmentation
By Type
- Liquid Isoprene Rubber
- Liquid Butadiene Rubber
- Liquid Styrene Butadiene Rubber
- Others
By Application
- Tire Manufacturing
- Adhesives & Sealants
- Paints and Coatings
- Industrial Rubber Components
- Others
Key Players Covered in the Global Market Report:
The Liquid Synthetic Rubber market is moderately fragmented with the presence of global and regional players. The competitive edge lies with the increased regional presence and growing investment in downstream applications. Synthomer plc, Royal Adhesives & Sealants, TER HELL & Co. GmbH, and Kuraray Co., Ltd. are the major players. Manufacturers are actively involved in R&D as the low product differentiation has forced the manufacturers to focus on product quality development.
In March 2019, Kuraray has developed a series of liquid rubber products with molecular weights ranging from a few thousand to a hundred thousand. These polymers, which consist of isoprene, butadiene, styrene, and a new, bio-based monomer called Farnesene, can be used by tire manufacturers to achieve improvements in processing and tire performances.
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The Full Report has the below insights.
The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021), and verifiable projections about market size during the forecast period (2022-2029).
Visualize the composition of Liquid Synthetic Rubber Market segmentation By Technology, service, By Application, and country, highlighting the key commercial assets and players.
By Type
By Application
Identify commercial opportunities in the Market by analyzing trends and co-development deals.
The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis, and pricing analysis.
Excel data sheet with thousands of Market-level 4/5 segmentation data points.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key product of all major market players
The report will provide access to approximately 50+ market data tables, 40+ figures, and close to 180 pages.
Additional Benefits Post Purchase:
- Unlimited Analyst support for a period of 1 year.
- Any query regarding the scope offered will be addressed within 24- 48 hours.
- An excel sheet with market numbers will be provided separately.
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