Global Synthetic Rubber And Fibers Market

The rubber products market consists of sales of rubber products by entities (organizations, sole traders and partnerships) that produce tires and retreading, rubber hoses and belting, rubber sealants and all other rubber products which have domestic and industrial applications. The main types of rubber products are tire, hoses and belting and other rubber products. A tyre, sometimes known as a tyre, is a ring-shaped element which covers the rim of a wheel to carry a vehicle’s weight from the axle to the earth while also providing grip on the ground over which the wheel moves. The different processes include molded, extruded, fabricated, latex-based, others and is used in various sectors such as construction & infrastructure, automotive, electrical & electronics, others. The global rubber products market size is expected to grow from $340.99 billion in 2021 to $370.86 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The rubber product market is expected to grow to $496.02 billion in 2026 at a CAGR of 7.5%. 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. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the rubber products manufacturing market in 2021 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of lockdown and the outbreak had a negative impact on businesses throughout 2021 and into 2021. However, it is expected that the rubber products manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Computer simulation and 3D printing technology is expected to have a significant impact on the rubber product manufacturing industry. Increasing number of companies are adopting 3D technology to design and develop rubber products. Software aided system offers 3D presentations on production line processes, including potential fault lines and also provides control on the manufacturing process. For example, Stratasys develops 3D printing technologies to produce automotive tires that can be customized to different levels of hardness, and elongation. Major companies in the rubber products market include The Michelin Group, Bridgestone Corporation, Continental AG, Good Year Tire & Rubber Company, Sumitomo Rubber Group, The Hankook Tire group, Pirelli & C SpA, Yokohama Rubber Company Ltd, Toyo Tire & Rubber Co Ltd and Toyota Tsusho. Asia Pacific was the largest region in the rubber products market in 2021. North America was the second largest region in the rubber product market. The regions covered in the rubber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rubber products market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global rubber products market is segmented - 1) By Type: Tire, Hoses and Belting, Others 2) By Process: Molded, Extruded, Fabricated, Latex-Based, Others 3) By End-User Industry: Construction and Infrastructure, Automotive, Electrical and Electronics, Others Subsegments Covered: Radial Tires, Bias Tires, Rubber Hoses, Rubber Belts

The webbing market consists of sales of webbing products by entities (organizations, sole traders, and partnerships) that are engaged in webbing products to be used in belts, straps, seat belts, and airbags. Webbing is a strong fabric that is woven as a flat strip with different sizes and fibers and is often used as a replacement for rope. It is commonly used in furniture manufacturing, military apparel, automobile safety, parachuting, and other fields. The main types of webbing are nylon, polyester, polypropylene, carbon fibers, P-aramid fibers, ultra-high molecular weight polyethylene (UHMWPE). Nylon webbing is a high-strength material, this webbing material can stretch around 2% of the length of the webbing. Natural and man-made materials are used for webbing. These webbings are used in various areas including automotive, military, industrial, sporting goods, and others. The global webbing market size is expected to grow from $3.34 billion in 2021 to $3.6 billion in 2022 at a compound annual growth rate (CAGR) of 7.9%. The webbing market is expected to grow to $4.89 billion in 2026 at a CAGR of 7.9%. An increase in demand for automobiles is contributing to the growth of the webbing market. Growing usage of webbing in the automotive industry for the production of seat belts, handles, safety harnesses, airbag catch bags, and attach car batteries, to limit the movement of exhaust pipe hangers is likely to boost the demand for webbing in coming years. According to LMC Automotive estimates, global car sales are predicted to reach 111 million by the end of 2032. Moreover, according to the Economist Intelligent Unit, the global new car sales will rise by 15% and commercial vehicle sales will increase by 16% in 2021. Therefore, the expansion of the automotive sector is boosting the growth of the webbing market. The launch of advanced textile products that increase functionality and productivity is a key trend in the webbing market. For instance, in March 2021, Bally Ribbon Mills, a US-based company that provides the development of highly specialized engineered woven fabrics has innovated a durable product with E-webbing and thermoplastic composite materials (TPMC). The new textile products have superior features like lightweight, abrasion resistance that are ideal for electronic transmission data and energy storage. These advanced textiles are used in parachutes, chemically resistant webbing, and personal protective equipment. In January 2021, Speedtech International, a US-based company that is engaged in the manufacturing and fabrication of hook and loop products and specialty fasteners acquired Toleeto Fasteners International for an undisclosed amount. The acquisition is expected to improve Speedtech’s capabilities, services, and expand its geographical presence. Toleeto Fasteners International is a US-based company that is engaged in manufacturing neoprene, hook and loop products, and custom fabricated webbing. Major players in the webbing market are American Cord & Webbing Company, Belt-tech, Narrowtex, National Webbing Products, Tennessee Webbing Products, Ohio Plastics, Universal Webbing Products, Jiangsu Daxin Webbing, Inka Oy, and Leedon Webbing. Asia Pacific was the largest region in the webbing market in 2021. North America is the second-largest market in webbing market. The regions covered in the webbing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the webbing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global webbing market is segmented - 1) By Product: Nylon, Polyester, Polypropylene, Carbon Fibers, P-Aramid Fibers, Ultra-High-Molecular-Weight Polyethylene (UHMWPE), Others 2) By Material: Natural, Man-Made 3) By Application: Automotive, Military, Industrial, Sporting Goods, Others

Rubber Products Manufacturing Market Characteristics

The synthetic fibers market consists of sales of synthetic fibers. Fibers are man-made textile synthetic fibers that are usually made from natural materials, such as rayon and acetate from cellulose, or regenerated protein synthetic fibers from zein or casein, as well as fully synthetic fibers such as nylon or acrylic synthetic fibers. The types of synthetic fibers are polyester, nylon, acrylics, polyolefin, and other types. Polyester is a group of polymers that consist basically of repeated units of an ester and are used mainly in making fibers or plastics. The applications involved are clothing, home furnishing, automotive, filtration, and other applications. The distribution channels are online and offline. The global synthetic fibers market size is expected to grow from $148.1 billion in 2021 to $160.65 billion in 2022 at a compound annual growth rate (CAGR) of 8.5%. The global synthetic fiber market size is expected to grow to $217.18 billion in 2026 at a CAGR of 7.8%. Synthetic fiber is used in a broad range of applications including the textile industry and home furnishings owing to its physical and chemical properties such as high durability, and stain-resistant characteristics. Polyester is one major fiber used in tires, belts, hoses whereas nylon is used for the preparation of carpets. According to a report, by 2030 it is expected that the consumption of polyester will be approximately three times that of cotton fiber. Thus, the increased usage of synthetic fibers in end-user industries is expected to drive the synthetic fibers market. Synthetic fibers are non-biodegradable and affect the environment negatively. Fragmentation and withering of large synthetic fibers generate microplastics, which affect the ecosystem. Any plastic that is less than 5mm in length is microplastic. Microplastics act as a medium through which harmful chemicals and micro-organisms enter the human body easily. According to a recent study that is started by the World Wildlife Fund and conducted by researchers at the University of Newcastle in Australia, it is estimated that people consume around 5 grams of plastic in a week which is similar to a credit card. As a result, governments impose stringent regulations to curb the use of synthetic fibers restraining the growth of the market. Increased demand for lightweight and fuel-efficient materials or advanced composite materials is increasing the need for synthetic synthetic fibers. Synthetic fibers made from polymer aromatic polyamide are mainly of two types, para-aramid, and Meta aramid. Aramids, UHME polyethylene, and POA are the major types of specialty synthetic synthetic fibers. Marine, medical, sporting goods, pressure vessel, and reinforcement materials industries are the significant applications for the specialty synthetic fiber market, and growth in these markets is driving the synthetic fibers market. For instance, some of the new products using synthetic synthetic fibers include bioplastics, plastic composites/nanocomposites, self-healing polymers, plastic electronics, and smart and reactive polymers. In February 2022, Bast Fibre Technologies, a Canada-based textile engineer company acquired Lumberton Cellulose for an undisclosed amount. This acquisition of the Lumberton facility diversifies BFT’s natural fiber offerings allowing entry into complementary product categories for cosmetic cotton, filtration, hygiene, and other nonwoven applications. Lumberton Cellulose is a US-based manufacturer of premium natural fibers. Major players in the synthetic fibers market are Bombay Dyeing, E. I. du Pont de Nemours and Company, Indorama Corporation, Lenzing AG, Mitsubishi Chemical Holdings Corporation, Reliance Industries Limited, China Petroleum Corporation (Sinopec Corp.), Teijin Limited, Toray Chemical Korea Inc, and Toyobo Co, Ltd. Asia Pacific was the largest region in the synthetic fibers market in 2021. Western Europe was the second-largest region in the synthetic fiber market. The regions covered in the synthetic fibers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the synthetic fibers market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global synthetic fibers market is segmented - 1) By Type: Polyester, Nylon, Acrylics, Polyolefin, Others 2) By Application: Clothing, Home Furnishing, Automotive, Filtration, Others 3) By Distribution Channel: Online, Offline

The styrene-butadiene rubber market consists of sales of styrene-butadiene rubber and related services. Styrene-butadiene rubber is synthetic rubber derived from the co-polymers styrene and butadiene. These materials have good abrasion resistance and good aging stability when protected by additives. The main product types of styrene-butadiene rubber are emulsion type, solution type. Emulsions are mixtures composed of two or more liquid types, where one is like droplets, of tiny or even ultramicroscopic size, distributed to each other. The various applications involved are automotive tires, footwear, polymer modification, adhesives, and other applications. The distribution channels are direct/institutional sales, retail sales, and other channel sales. The global styrene butadiene rubber market size is expected to grow from $33.52 billion in 2021 to $35.59 billion in 2022 at a compound annual growth rate (CAGR) of 6.2%. The global SBR market size is expected to grow to $44.31 billion in 2026 at a CAGR of 5.6%. Increased use of styrene-butadiene rubber in tire manufacturing contributed to the growth of the SBR market. Styrene-butadiene rubber is one of the key elements in tire manufacturing. SBR is a combination of styrene and butadiene monomers, together they possess natural rubber-like characteristics. Along with that, they have unique characteristics such as abrasion resistance, perfect impact strength, good resilience, high tensile strength, which are permitting them to suitable for high-end tire manufacturing. Growing sales of automobiles in recent years have led to increased use of SBR by the automobile industry. According to TrueCar Inc., an automotive pricing and information website for new and used car buyers, indicated that in September 2020 sales of new vehicles reached 1,221,092 units. This has led to an increased demand for SBR from the end-use industry, thus driving the market. Safety hazards have always been a major challenge in the styrene-butadiene rubber industry. Due to its potential hazards butadiene is not sold to customers directly, but it is used in the manufacture of polymers and elastomers. Butadiene is highly volatile and low-water soluble. Long-term exposure to butadiene is detrimental to human health. Exposure to high concentrations can result in damage to the central nervous system, blurred vision, nausea, headache, fatigue, decreased blood pressure, and coma. According to the International Agency for Research on Cancer 1, 3-Butadiene has been listed as a possible carcinogen. Major companies in the styrene-butadiene rubber industry are increasingly investing in artificial intelligence (AI) to enhance decisions making abilities and thus drive profits. The companies in this industry gather huge amounts of raw data relating to the working of plants and other infrastructure through a large number of sensors placed across the production site. Using big data analytics the companies can detect sensible patterns which can allow them to quickly react to unwanted changes or potential defects, thus saving costs. AI allows companies to take better operational decisions. Companies such as Zhongce Rubber Group and Yokohama Rubber have been increasingly investing in AI technology to have a centralized method of data management and support data integration across multiple applications. In January 2019, Saudi Aramco, a Saudi Arabia-based energy and chemical company acquired Arlanxeo from LANXESS AG for $1.67 billion. The acquisition is expected to help Saudi Aramco in improving the fuel efficiency-related to tire performance. Arlanxeo is a Netherlands-based synthetic rubber company that specializes in manufacturing synthetic rubbers and elastomer plastics such as polybutadiene/butadiene rubber (BR) that are supplied to tire manufacturers and automotive parts globally. Major players in the styrene-butadiene rubber market are Asahi Kasei, Lanxess, Bridgestone, Michelin, China Petroleum & Chemical, Jsr, The Goodyear Tire & Rubber, Sinopec, Eastman, and SIBUR. Asia Pacific was the largest region in the styrene-butadiene rubber market in 2021. Western Europe was the second-largest region in the SBR market. The regions covered in the styrene-butadiene rubber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the styrene-butadiene rubber market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia The global styrene butadiene rubber (SBR) market is segmented - 1) By Product Type: Emulsion Type, Solution Type 2) By Application: Automotive Tire, Footwear, Polymer Modification, Adhesives, Others 3) By Distribution Channel: Direct/Institutional Sales, Retail Sales, Others

The polybutadiene market consists of sales of polybutadiene and related services. Polybutadiene is a synthetic rubber that is formed from the polymerization process of the monomer 1,3-butadiene. Polybutadiene is abrasion-resistant and is used especially in the manufacture of tires, as an additive to improve the mechanical strength of plastics such as polystyrene and acrylonitrile butadiene styrene (ABS). Polybutadiene is also used to coat or encapsulate electronic assemblies, offering high electrical resistivity. The main product types of polybutadiene are solid polybutadiene and liquid polybutadiene. Liquid polybutadienes (LPBds) are highly reactive liquid hydrocarbon polymers that are being formulated into solvent-free or low-solvent coating formulations. The applications involved are automotive, chemical, industrial, and other applications. The sales channels involved are online and offline. The industry verticals are tire, automotive, chemical, industry rubber manufacturing, and other industry verticals. The global polybutadiene market size is expected to grow from $17.74 billion in 2021 to $19.44 billion in 2022 at a compound annual growth rate (CAGR) of 9.6%. The global BR market size is expected to grow to $27.37 billion in 2026 at a CAGR of 8.9%. Increased usage of polybutadiene in high-end tire manufacturing contributed to the growth of the polybutadiene market. Nearly 70% of the world's production of polybutadiene is used in tire manufacturing. After the curing process, BR possesses different properties such as abrasion resistance, poor wet traction, and low rolling resistance because of its low glass transition temperature. It is also majorly used in the sidewall of truck tires to improve abrasion and reduce wear. For example, companies such as UBE industries manufacture BR, which is used in tires with premier physical properties such as rebound, tensile strength, heat buildup, and grades with excellent processability such as mixing, roll banding, and extrusion. Safety hazards have always been a major challenge in the polybutadiene industry. Due to its potential hazards butadiene is not sold to customers directly, but it is used in the manufacture of polymers and elastomers. Butadiene is highly volatile and low-water soluble. Long-term exposure to butadiene is detrimental to human health. Exposure to high concentrations can result in damage to the central nervous system, blurred vision, nausea, headache, fatigue, decreased blood pressure, and coma. According to the International Agency for Research on Cancer 1,3-Butadiene has been listed as a possible carcinogen. Neodymium polybutadiene (ND-PBR) rubber production is an emerging trend in the polybutadiene rubber market. Neodymium is a catalyzed synthetic polybutadiene, which has high elasticity and is resistant to dynamic stress at both high and low temperatures. It is majorly used in the manufacturing of tires, conveyor belts, golf balls, footwear, and other industries. For instance, Lanxess, a producer of neodymium polybutadiene rubber, is producing 0.14 million tonnes ND-PBR per year. In January 2019, Saudi Aramco, a Saudi Arabia-based energy and chemical company acquired Arlanxeo from LANXESS AG for $1.67 billion. The acquisition is expected to help Saudi Aramco in improving the fuel efficiency-related to tire performance. Arlanxeo is a Netherlands-based synthetic rubber company that specializes in manufacturing synthetic rubbers and elastomer plastics such as polybutadiene/butadiene rubber (BR) that are supplied to tire manufacturers and automotive parts globally. Major players in the polybutadiene market are LG Chem Ltd, Versalis S.P.A, China Petroleum & Chemical Corporation, JSR Corporation, Reliance Industries Limited, Lanxess AG, Kumho Petrochemical Co. Ltd, The Goodyear Tire & Rubber Company, UBE Industries, Ltd, and Synthos S.A. Asia Pacific was the largest region in the polybutadiene (BR) market in 2021. Western Europe was the second-largest region in the global BR market. The regions covered in the global polybutadiene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the polybutadiene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global polybutadiene (BR) market is segmented - 1) By Product Type: Solid Polybutadiene, Liquid Polybutadiene 2) By Application: Automotive, Chemical, Industrial, Others 3) By Sales: Online, Offline 4) By Industry Vertical: Tire, Automotive, Chemical, Industry Rubber Manufacturing: Others

The ethylene-propylene market consists of sales of ethylene propylene and related services. Ethylene propylene is a type of synthetic rubber formed as a terpolymer of ethylene, propylene, and a diene component. It is resistant to heat and electricity and is non-reactive towards acids and alkali compounds. Industrial applications include weather-stripping and seals, glass-run channels, radiators, garden and appliance hoses, tubing, belts, electrical insulation, roofing membranes, rubber mechanical goods, plastic impact modification, thermoplastic vulcanizates, and motor oil additive applications. The main product types of ethylene-propylene are solution polymerization and suspension polymerization. Solution polymerization is the polymerization that takes place in a solution. The presence of a solvent is preventing the viscosity of the reaction mixture from becoming too high, which is beneficial for fluid flow and heat transfer. The various applications involved are automotive, building & construction, plastic modification, lubricant additive, wires and cables, and tires and tubes. The global ethylene propylene market size is expected to grow from $5.5 billion in 2021 to $6.07 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The global EPDM market size is expected to grow to $8.77 billion in 2026 at a CAGR of 9.7%. The use of ethylene propylene across various industries contributes to the growth of the ethylene-propylene market. In the automotive industry, EPDM products bonds well with metals by providing a well-built barrier against the environment. EPDM possesses properties such as heat resistance, abrasion resistance, oil swell resistance, flame retardance, oxidation, ozone, and weather aging due to their stable, saturated polymer backbone structure. Companies such as BRP manufacturing are providing EPDM for automotive industries that include under-the-hood, cabin pressure-equalizing assemblies, interior trim, and striker plate blinds. Thus, the usage of EPDM in different industries is contributing to the EPDM market growth. Release of volatile organic compounds (VOCs) while manufacturing ethylene-propylene causes environmental pollution, which is challenging the EPDM market growth. VOCs consist of different chemicals that show adverse effects on human health as well as on the environment as they release fine particulates in the atmosphere, therefore resulting in the formation of smog and reduced visibility. For instance, to avoid harmful emission of VOC, the Hong Kong government has implemented various regulations such as products exceeding normal emission of VOCs are not allowed in the country. Thus, the increased release of VOC from producing ethylene propylene is limiting its market growth. The increasing demand for ethylene propylene diene monomer (EPDM) rubber produced from bio-based feedstock acts as a key trend driving the growth of the EPDM market. Renewable EPDM rubber uses raw materials such as sugar and glycerin to replace traditional feedstock such as isoprene and butadiene in synthetic rubber production to reduce greenhouse emissions and to achieve sustainability. For instance, Keltan, a Netherlands-based company, produced the first commercial bio-based feedstock KELTAN® Eco based on renewable raw materials. Therefore, renewable EPDM rubber is expected to increase the market share of the EPDM market. Major players in the ethylene-propylene market are The Dow Chemical Company, Exxon Mobil Corporation, Johns Manville, Inc, KUMHO POLYCHEM, Lanxess AG, Lion Elastomers LLC, Mitsui Chemicals, Inc, SK Global Chemical Co Ltd, Sumitomo Chemical Co, Ltd, and Versalis S.p.A. Asia Pacific was the largest region in the ethylene-propylene market in 2021. The Middle East was the second-largest region in the global EPDM market. The regions covered in the global ethylene-propylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the ethylene-propylene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The global ethylene propylene (EPDM) market is segmented - 1) By Product Type: Solution Polymerization, Suspension Polymerization 2) By Application: Automotive, Building and Construction, Plastic Modification, Lubricant Additive, Wires and Cables, Tires and Tubes

The chemicals market consists of the sales of chemicals by entities (organizations, sole traders, and partnerships) that produce chemicals based on the transformation of organic and inorganic raw materials by a chemical process and the formulation of products (but excluding beneficiating of mining output, refining of crude petroleum, manufacturing of aluminum oxide, primary metal manufacturing, beverage distilling, tobacco manufacturing). The chemicals industry establishments produce a variety of chemical products by processing raw materials such as air, water, natural gas, oil, metals, and minerals. The main types of chemicals are general chemical products, printing inks, toiletries, soap and cleaning compounds, adhesives, paints and coatings, pesticide and other types of agricultural chemicals, chemical fertilizers, synthetic rubber and fibers, plastic material and resins, ethyl alcohol, and other basic types of organic chemical, and other types of basic inorganic chemical, synthetic dye, and pigment, industrial gas, and petrochemicals. Printing ink is ink used in printing and contains a pigment or pigments of the required color mixed with oil or varnish. The types of intermediate chemicals are methanol, ethylene oxide, and propylene oxide. The end-users involved are pharmaceuticals, agrochemicals, water treatment, construction, paints and dyes, oil and gas, rubber chemicals, surfactants, personal care, and others. The global chemicals market size is expected to grow from $4.24 trillion in 2021 to $4.62 trillion in 2022 at a compound annual growth rate (CAGR) of 8.9%. The global chemical market size is expected to grow to $6.37 trillion in 2026 at a CAGR of 8.4%. Interest rates were low in most developed countries during this period, this positively impacted the growth of the chemicals market. For instance, in 2019, the European Central Bank decreased interest rates to -0.5% on deposits from banks to encourage lending. These low-interest rates encouraged borrowing and increased the flow of money for investment. This allowed chemicals companies to borrow money for process improvements, thus driving the market during the historic period. Increasing costs had a negative impact on the growth of the industrial gas market during the forecast period. This rise in raw material costs resulted in higher manufacturing costs, thus decreasing the investments available for research and development of new products. Additionally, companies invested heavily in marketing their products due to intense competition in the market. Rising trucking, railroad, dry-bulk, and air-freight rates also negatively impacted the market. This rise in operating costs increased the pressure on companies to protect margins while maintaining the quality of their products. Chemical companies are increasingly adopting sustainable and eco-friendly processes to eliminate the negative impact of chemical manufacturing on the environment. Evolution in technology and chemical sciences enabled chemical companies to utilize alternative fuels to produce chemical products. They are using naturally available carbon dioxide to produce fuels, industrial products, and other substances. For instance, Akzo Nobel N.V a chemicals and coatings giant is planning to make a seven-figure investment into Green Lizard Technologies’ patented process to make surfactants from plants rather than from oils. Major companies in the chemicals market include JXTG Holdings Inc, Sinopec Limited, BASF SE, Procter & Gamble, Unilever plc, L'Oreal SA, Dow Inc, Saudi Basic Industries Corporation (SABIC), Mitsubishi Chemical Holdings Corp, and Guardian Industries, LLC. Asia Pacific was the largest region in the chemicals market in 2021. North America was the second-largest region in the global chemicals market. The regions covered in the global chemical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the chemicals market report are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam. The global chemicals market is segmented - 1) By Type: General Chemical Product, Printing Inks, Toiletries, Soap and Cleaning Compounds, Adhesives, Paints and Coatings, Pesticide and Other Agricultural Chemicals, Chemical Fertilizers, Synthetic Rubber and Fibers, Plastic Material and Resins, Ethyl Alcohol and Other Basic Organic Chemical, Other Basic Inorganic Chemical, Synthetic Dye and Pigment, Industrial Gas, Petrochemicals 2) By Type of Intermediate Chemicals: Methanol, Ethylene Oxide, Propylene Oxide 3) By End-User: Pharmaceuticals, Agrochemicals, Water Treatment, Construction, Paints and Dyes, Oil and Gas, Rubber Chemicals, Surfactants, Personal Care, Others Subsegments Covered:, Oil-Based Printing Inks, Solvent-Based Printing Inks, Water-Based Printing Inks, Lotions (Including Sunscreens), Hair Preparations, Face Creams, Perfumes, Shaving Preparations, Other Cosmetic Preparations, Soap and Other Detergents, Surface Active Agents, Polish and Other Sanitation Goods, Water-Based Adhesives, Solvent-Based Adhesives, Hot-Melt-Based Adhesives, Reactive and Other Adhesives, Water Borne Coatings, Solvent Based Coatings, Powder Coatings, Other Paints and Coatings, Herbicides, Insecticides, Fungicides, Other Pesticide and Other Agricultural Chemicals, Nitrogen Fertilizer, Phosphate Fertilizer, Potash Fertilizer, Synthetic Fibers, Styrene Butadiene Rubber (SBR), Polybutadiene (BR), Ethylene Propylene (EPDM), Other Synthetic Rubber and Fibers, Polypropylene-Plastic Material and Resins, High-Density Polyethylene, Poly-Vinyl Chloride, Polyethylene Terephthalate, Polyurethane, Low-Density Polyethylene, Polystyrene-Plastic Material and Resins, Other Plastic Material and Resins, Synthetic Sweeteners, Plasticizers, Ethyl Alcohol, Silicone (except Resins), Fatty Acids, Gum and Wood Chemicals Synthetic Dye, Synthetic Pigments, Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Other Industrial Gas, Ethylene-Petrochemicals, Propylene-Petrochemicals, Benzene-Petrochemicals, Xylene, Styrene-Petrochemicals, Toluene, Cumene, Other Petrochemicals