The global synthetic rubber and fibers market size is expected to grow from $263.61 billion in 2021 to $284.83 billion in 2022 at a compound annual growth rate (CAGR) of 8.0%. The global synthetic rubber and fibers market size is expected to grow to $379.48 billion in 2026 at a CAGR of 7.4%.
What is the Global Synthetic Rubber And Fibers Market?
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 that is produced via the polymerization of a variety of petroleum-based monomers.
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What drives the Global Synthetic Rubber And Fibers Market?
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. For example, technologies such as Green Tires, where 20-30% of a vehicle's fuel consumption is related to tire performance, took off during this period. Green Tires offer wet grip, durability, and low rolling resistance, reducing fuel consumption by 5-7%. Thus, technological advances which enabled improved performance, reduced fuel consumption contributed to the market growth.
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Global Synthetic Rubber And Fibers Market Segments
The global synthetic rubber and fibers market is segmented:
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, Other Applications
By Distribution Channel: Offline, Online
By Geography: The regions covered in the synthetic rubber and fibers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Synthetic Rubber And Fibers Global Market Report 2022provides market size and growth forecasts for the global synthetic rubber and fibers market, global synthetic rubber and fibers market share, synthetic rubber and fibers market segments and geographies, synthetic rubber and fibers market competitive landscape including 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.
Global Synthetic Rubber And Fibers Industry Playersinclude Sinopec Limited, Mitsubishi Chemical Holdings Corp, Exxon Mobil, Lotte Chemical Corp, Odebrecht Engenharia E Construcao Sa, Teijin Ltd, Asahi Kasei Corporation, SK Innovation Co, GS Caltex Corporation, and Lenzing AG. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
