Global Synthetic Rubber And Fibers Market Trends And Strategies Of Major Players In The Synthetic Rubber And Fibers Market 2021-2030
18 Feb, 2021
The synthetic rubber and fibers market consists of the sales of synthetic rubber and fibers by entities (organizations, sole traders or partnerships) that produce synthetic rubber which is an artificial elastomer which is produced via the polymerization of a variety of petroleum-based monomers. The synthetic rubber and fibers market is segmented into fibers; styrene butadiene rubber (SBR); polybutadiene (BR); ethylene propylene (EPDM) and other synthetic rubber and fibers.
Global Synthetic Rubber And Fibers Market Size And Drivers:
The global synthetic rubber and fibers market is expected to grow from $196.44 billion in 2020 to $237.78 billion in 2021 at a compound annual growth rate (CAGR) of 21%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $262.05 billion in 2025 at a CAGR of 2%. Technology is expected to be a continued driver of market growth during this period. Industries that involve technology, such as this one, benefited from this trend during this period.
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Trends In The Global Synthetic Rubber And Fibers Market
Many manufacturers have started to use more synthetic than natural rubber because falling crude oil prices led to lower prices. Synthetic rubber prices dropped 15% in Europe and 5% in the USA in the second quarter of compared to a year earlier. Synthetic rubber supply was consistent and more affordable than natural rubber during the studied period. According to estimates, European manufacturers now use 60% synthetic rubber and 40% natural rubber for manufacturing products associated with rubber.
Global Synthetic Rubber And Fibers Market Segments:
The global synthetic rubber and fibers market is further segmented based on type, application and geography.
By Type:Synthetic Fibers, Styrene Butadiene Rubber (SBR), Polybutadiene (BR), Ethylene Propylene (EPDM), Other Synthetic Rubber And Fibers
By Application:Non-Tire Automotive, Footwear, Tire, Construction, Others
By Geography:The global synthetic rubber and fibers market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global synthetic rubber and fibers market, accounting for 69% of the total market.
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Synthetic Rubber And Fibers Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides synthetic rubber and fibers market overviews, analyzes and forecasts market size and growth for the global synthetic rubber and fibers market, synthetic rubber and fibers market share, synthetic rubber and fibers market players, synthetic rubber and fibers market segments and geographies, synthetic rubber and fibers market’s leading competitors’ revenues, profiles and market shares. The synthetic rubber and fibers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.