Synthetic Rubber Market by Type (Styrene Butadiene Rubber, Nitrile Rubber, Polybutadiene Rubber, Butyl Rubber, Others), by Application (Tire, Non-tire Automotive, Industrial Rubber Goods, Footwear, Others), by By Geography (North America), by Europe (Germany, France, U.K., Italy, Russia, Rest of Europe), by Asia Pacific (China, India, Japan, Southeast Asia, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Rest of Latin America), by Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa) Forecast 2024-2032
The Synthetic Rubber Market size was valued at USD 28.89 USD Billion in 2023 and is projected to reach USD 40.92 USD Billion by 2032, exhibiting a CAGR of 5.1 % during the forecast period. An artificial rubber typically is obtained via the polymerization of polyene diene monomers. Exceptionally, a separate layer of a polysulfide will result in an adhesive classified as including additional polymers. The elastomer is a material which is capable of expanding much more elastically under stress than ordinary materials and remaining in its original size or shape without any deformation. In the market, designated rubber not only comes with beneficial properties, which help it manufacture many types of goods in different industries. That property stands as higher durability against removals, regardless of circumstances. It offers elasticity capability which allows deformation and recovery, meaning that this material will remain durable over the years. Additionally, synthetic rubber witnesses a high amount of tolerance to heat and ageing, which ensures this material keeps its given structural integrity for a long period. As an electric insulator, it plays a very critical role in providing vital safety in the applications of electrical equipment. automotive industry. From tyres, seals, O-rings, gaskets, hoses, belts or any other rubber component found throughout the cars, synthetic rubbers are commonly used. For instance, rubber products are plenty used in the aerospace industry because of their exact properties.
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Application:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.1% from 2018-2032 |
Segmentation |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.1% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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