Liquid Synthetic Rubber Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4007
Liquid Synthetic Rubber Market size is witnessing significant growth from 2019 to 2025 owing to growing global tire industry and rapidly increasing use of the product to replace natural rubber in various applications.
Tire encloses a wheel’s rim in order to transfer the load of the vehicle on the road surface and provides a robust grip between the vehicle and the road. Tires are flexible, strong and have tendency to absorb vibration. They are extensively used in cars, buses, trucks, bicycles, bikes, airplanes, etc. as they enhance the overall performance of the vehicle. Developments in the global automotive industry is one of the major factors driving the growth of the tire industry. Global automobile production witnessed a growth of over 19% between 2011 and 2018. It can be majorly attributed to the escalating automobile demand and production in Asia Pacific region. China leads the global automotive production with more than one-fourth share. Additionally, India has witnessed year-on-year growth of over 7% in 2018. Many automotive manufacturing giants have made an investment and established their production facilities in this region. Changing lifestyle, rapid urbanization, rising population, increasing disposable income, etc. are some of the factors that will prosper the growth of the global automotive industry. On the other hand, rising public and private investments in construction & infrastructure development, positive outlook of tourism industry will also boost the demand of both passenger & commercial vehicles which will prosper global tire market growth. Liquid synthetic rubber is extensively used for manufacturing tire bead fillers, sidewalls, rim cushions, treads, etc. Thus, the growth of global tire market will drive the liquid synthetic rubber market demand in coming years.
Another major factor that will boost the liquid synthetic rubber market demand is the substitution of natural rubber with synthetic types. Low abrasion resistance, high cost associated with natural rubber are few factors that will reduce its market share. Limited availability of natural rubber results in higher price, which will boost the use of the synthetic types. Liquid synthetic rubber is transparent, colorless and has low VOC content. It enhances processability, improves the shelf life of product, reduces mixing time owing to its excellent performance at low temperature, strong adhesive & tack properties, ability to co-vulcanized, etc. However, raw materials used for the product are derived from petroleum feedstock and price fluctuations in petrochemical prices will induce volatility in product price which can hamper the growth of liquid synthetic rubber market in the near future.
Based on product type, liquid synthetic rubber market is segmented into liquid isoprene, liquid butadiene and liquid styrene butadiene. Liquid styrene butadiene is likely to have significant market share. This product type has high impact resistance & impact strength, high tensile strength and good resilience. Liquid styrene butadiene is used in automotive parts, tires & tire-based products, rubber goods, etc. Tire manufacturing application will have substantial share in liquid synthetic rubber market due to extensive use of product in the production of tire treads, rims, flanges, apex, carcass, etc. Adhesive application segment will have high growth rate in liquid market. It can be attributed to the product application as adhesives for concrete, mortar & cement-bond coats and thus enhancing the mechanical performance, durability and wear resistance. Asia Pacific region will have significant share in market due to presence of major tire manufacturers, availability of raw materials, cost-effective labor, low manufacturing cost, etc.
Some key players in liquid synthetic rubber market are Evonik Industries AG, Synthomer PLC, Asahi Kasei, Royal Adhesives & Sealants, Kuraray Co., Ltd., Efremov Synthetic Rubber, TER HELL & Co. GmbH, Nippon Soda Co., Ltd., Puyang Linshi Chemical New Material Co., Ltd., etc. Focused research and development activities for new product development, expanding production capacity by establishing new production facilities are some of the key strategies implemented by the players in market to maintain their competitive advantage.
Liquid Synthetic Rubber Market, By Product, 2014-2025
- Liquid Isoprene
- Liquid Butadiene
- Liquid Styrene Butadiene
Liquid Synthetic Rubber Market, By Application, 2014-2025
- Industrial Rubber Manufacturing
- Tire Manufacturing
- Polymer Modification
- Others (Sealants & Coatings, Industrial Rubber Components, etc.)
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Royal Adhesives & Sealants
- Synthomer PLC
- Asahi Kasei
- Kuraray Co., Ltd.
- Evonik Industries AG
- Efremov Synthetic Rubber
- TER HELL & Co. GmbH
- Nippon Soda Co., Ltd.
- Puyang Linshi Chemical New Material Co., Ltd.
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