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Liquid Synthetic Rubber Market Size

Report ID: GMI4007
Published Date: Sep 2024
Report Format: PDF

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Liquid Synthetic Rubber Market Size

Liquid Synthetic Rubber Market was valued at USD 10.6 billion in 2023 and is expected to grow at a CAGR of 3.9% from 2024 to 2032. This product is used in many industries, including adhesives, tire manufacturing, industrial rubber production, and polymer modification.

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Liquid synthetic rubber is getting a lot of attention in research across different sectors. Recent studies show its potential in biomaterials to improve the mechanical properties of dental composites and fractures. According to the U.S. Department of Energy, advancements in synthetic rubber technology are crucial for improving energy efficiency in manufacturing processes. Additionally, the European Commission has highlighted the importance of synthetic rubber in reducing the environmental impact of tire production.

Liquid Synthetic Rubber Market Report Attributes
Report Attribute	Details
Base Year:	2023
Liquid Synthetic Rubber Market Size in 2023:	USD 10.6 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	3.9%
2032 Value Projection:	USD 15 Billion
Historical Data for:	2021 - 2023
No. of Pages:	210
Tables, Charts & Figures:	250
Segments covered:	Product and Application
Growth Drivers:	Growth in tire production worldwide Rising product usage in the end-user industries worldwide Expansion of the automotive adhesive and sealant industry
Pitfalls & Challenges:	Fluctuating raw material prices and stringent government regulatory norms Environmental concerns and limited recyclability

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The liquid synthetic rubber market faces challenges due to fluctuating raw material prices, stringent government regulations, and growing environmental concerns. Volatility in petrochemical-derived raw material prices increases production costs, causing uncertainty for manufacturers. Strict regulations in the chemical industry, particularly regarding emissions and waste management, add pressure to comply with environmental standards. Concerns about the limited recyclability of synthetic rubber further intensify these regulations, raising sustainability issues and prompting the industry to explore eco-friendly alternatives, potentially reshaping market dynamics.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

Market size for liquid synthetic rubber was worth USD 10.6 billion in 2023 and will expand at a 3.9% CAGR between 2024 and 2032, driven by its increasing demand in the automotive and tire industries.

Liquid synthetic rubber industry from the styrene-butadiene rubber segment recorded USD 6 billion in 2023 due to its extensive use in the automotive sector, particularly in tire manufacturing.

Asia Pacific industry captured 50% share in 2023, owing to the expanding automotive sector and robust infrastructure development.

Asahi Kasei, ENEOS Corporation, Evonik Industries AG, JSR Corporation, Kumho Petrochemical, Kuraray Co., Ltd, Nippon Soda Co., Ltd, Puyang Linshi Chemical New Material Co., Ltd, Royal Adhesives & Sealants, Sinopec, and Synthomer PLC, among others.