Global Liquid Synthetic Rubber Market (2021-2026) Growth, Trends, COVID-19 Impact, and Forecast – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD) – The report “Liquid Synthetic Rubber Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.
The Liquid Synthetic Rubber market is valued at USD 13,500 million in 2020 and is expected to register a CAGR of over 4.5% during the forecast period (2021-2026).
Asahi Kasei Advance Corporation
Evonik Industries SA
HB Fuller Company
Kuraray Co. Ltd
TER HELL & Co. GmbH
Linshi Chem (Puyang) Advanced Material Co. Ltd
Nippon Soda Co. Ltd
Chinese National Petroleum Company
Key market trends
Growing demand from the tire segment
Synthetic rubber is the man-made elastomer, which is produced from petroleum by-products. Liquid synthetic rubber is a liquid polyurethane which generally forms compounds with high flow and abrasion properties.
Liquid synthetic rubber, such as liquid butadiene rubber, has superior properties, such as abrasion resistance, resistance to cut growth, high resilience with low heat build-up, and low temperature flexibility. Due to these properties, liquid synthetic rubbers are widely used in the manufacture of tires.
The increasing use of liquid polybutadiene rubber and liquid styrene-butadiene rubber for the manufacture of tires and its components, such as treads, rims / crown / flange and casing, increases the demand for synthetic rubber liquid and thus propel its market.
In addition, liquid synthetic rubber provides increased durability and superior performance to tires, as well as the adoption of tire labeling regulations. As a result, the demand for liquid synthetic rubber is expected to increase for tire manufacturing, which will boost its market.
For example, according to OICA, around 77.62 million vehicles were produced worldwide in 2020, compared to 92.18 million vehicles produced in 2019, showing a decreasing growth rate of around 15.8%. , which reduced the demand for tires.
According to the United States Tire Manufacturers Association (USTMA), total tire shipments to the United States were approximately 303.2 million units in 2020, with a rate of decline of approximately 9% from 332.7 million units in 2019. In addition, the association forecast that total US state tire shipments will reach 315.7 million units in 2021, which is expected to drive demand for the market studied.
The Asia-Pacific region will dominate the market
The Asia-Pacific region is expected to dominate the liquid synthetic rubber market during the forecast period. In countries like China, India and Japan, due to the increasing demand for applications such as tire manufacturing, industrial rubber manufacturing, adhesives and sealants, coatings and modification polymers, and also due to the availability of raw materials and the rapid development of the manufacturing sector, the demand for liquid synthetic rubber has increased in the region.
China is the world’s largest producer and consumer of motor vehicles. According to OICA, around 25.23 million vehicles were produced in China in 2020, compared to 25.75 million vehicles produced in 2019, showing a decline in the growth rate of around 2%.
According to the Automobile Tire Manufacturers Association (ATMA) of India, the total volume of tires produced in India was around 191.98 million units in 2019, with a growth rate of around 7.5. % compared to the previous year.
In addition, liquid synthetic rubber also finds its application in the construction industry. In 2020, China’s construction industry was valued at around USD 1,049.2 billion and is expected to reach approximately USD 1,117.4 billion by 2021, with a growth rate of around 6.5%, which is expected to stimulate the demand for liquid synthetic rubber such as liquid styrene-butadiene rubber, which is used in the formulation of adhesives for cement plasters, mortars and concrete, and can also be used in the production of sealants and sealants. coatings.
Some of the major companies operating in Asia-Pacific region are Synthomer PLC, LINSHI CHEM (PUYANG) ADVANCED MATERIAL CO. LTD and HB Fuller Company.
Hence, the aforementioned factors are expected to have a significant impact on the market in the coming years.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand From Adhesives Segment
4.1.2 Other pilots
4.2.1 Slowdown of the conventional automobile industry
4.2.2 Adverse conditions due to the COVID-19 epidemic
4.3 Industry Value Chain Analysis
4.4 Porter’s five forces analysis
5 MARKET SEGMENTATION
5.1 Product type
6 COMPETITIVE LANDSCAPE
6.1 Mergers and acquisitions, joint ventures, collaborations and agreements
6.2 Market share (%) / Ranking analysis
6.3 Strategies adopted by the main actors
6.4 Company profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of bio-based raw materials for synthetic rubber
For more information on this report, visit https://www.researchandmarkets.com/r/jc69sq