Liquid Synthetic Rubber Market size to exceed $12 Billion by 2026
Published Date: August 11, 2020 Authors: Kiran Pulidindi, Akshay Prakash
According to a new research report by Global Market Insights, Inc., the Liquid Synthetic Rubber Market size is expected to exceed USD 12 billion by 2026. Increasing demand from rubber manufacturing industry coupled with rapid infrastructure development in emerging nations is set to promote product demand during the forecast period.
Rising demand for high-performance emulsions & formulations in the rubber and adhesives industries will drive the liquid synthetic rubber market share. Increasing replacement activities is propelling the tires demand in the automotive sector. According to National Highway Traffic Safety Administration (NHTSA), the average tire replacement cycle for a car in the U.S. has been specified to six years of limit, regardless of the miles covered by the vehicle. Such trends will ensure steady industry growth.
Browse key industry insights spread across 280 pages with 362 market data tables & 24 figures & charts from the report, “Liquid Synthetic Rubber Market By Product (Liquid Isoprene, Liquid Butadiene, Liquid Styrene Butadiene), By Application (Adhesive, Industrial Rubber Manufacturing, Tire Manufacturing, Polymer, Modification), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Liquid isoprene rubber is a transparent, colorless, and viscous liquid and will witness over 3.5% CAGR in the liquid synthetic rubber market. It is almost odorless and acts as a reactive plasticizer. It can go through vulcanization, co-vulcanization, and cross-linking processes with numerous solid rubbers such as Natural Rubber (NR), Butadiene Rubber (BR), Styrene-Butadiene Rubber (SBR), and Ethylene Propylene Diene Monomer rubber (EPDM).
However, sulfur or peroxide is necessary for these processes. The rubber has high weight and can perform plasticizing functions. Liquid isoprene rubber is used in a wide range of applications such as tires, belts, footwear, hose, adhesives, sealants, etc. In addition, it is also used in coating, printing plates, binders, and lubricants.
In 2019, the industrial rubber manufacturing application accounted for over 25% share of liquid synthetic rubber market. The main products employing LSR are conveyor belts, rubber hoses, anti-vibration rubber compounds, fenders, and gaskets. Low Mooney Viscosity of liquid synthetic rubber significantly improves the processability of these products.
Additionally, it helps in improving the operational characteristics and service life of these products. Favorable trends in the healthcare industry coupled with the rising demand for medical gloves will positively influence the product consumption. The others application segment consists of bitumen modification, coatings, and sealants. The narrow molecular weight distribution of liquid synthetic rubber ensures minimal residual and improved quality of sealants & coatings.
Supportive government initiatives will increase LSR production across Europe
Europe is estimated to hold around 24% share by 2026. The region has introduced stricter anti-dumping regulations to stop cheap rubber and tire imports, flooding the domestic market. In January 2019, Europe introduced final set of anti-dumping tariffs on rubber and tire products. Increasing local rubber and tire production will support the liquid synthetic rubber market proliferation.
The rapidly growing population, changing lifestyles, and high spending tendency is expanding the construction industry. According to the European Construction Industry Federation (FIEC), total construction output of European Union was USD 1.3 trillion in 2010 and it increased by more than 20% to reach USD 1.6 trillion in 2018. Ongoing and proposed infrastructure projects will generate demand for adhesives, sealants, and coatings, thereby augmenting the liquid synthetic rubber market growth.
Key participants in liquid synthetic rubber industry include, HB Fuller, Synthomer PLC, Asahi Kasei Corporation, Kuray Co., Ltd., Efremov Synthetic Rubber Enterprise, Nippon Soda Co., Ltd., and Evonik Industries. The industry participants are expanding their product portfolio to serve larger number of consumers and enhance revenue generation.