Liquid Synthetic Rubber Market is on an Upward Growth Curve to grow at CAGR of 4.5%
Asia-Pacific held the largest share in terms of revenue, contributing to nearly three-fifths of the total share.
OREGON, PORTLAND, UNITED STATES, August 24, 2022 /EINPresswire.com/ — Increase in tyre production worldwide and rise in usage across the adhesive industry drive the global liquid synthetic rubber market. Asia-Pacific held the largest share in terms of revenue, contributing to nearly three-fifths of the total share in 2019, and is estimated to maintain its highest contribution by 2027. The lockdown hindered the manufacturing activities of tyres, adhesives, and automotive parts, which in turn, reduced the liquid synthetic rubber demand.
Allied Market Research recently published a report, titled, “Liquid Synthetic Rubber Market by Product (Liquid Isoprene Rubber, Liquid Butadiene Rubber, Liquid Styrene Butadiene Rubber, and Others) and Application (Adhesives, Industrial Rubber, Tyre Manufacturing, Polymer Modification, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027”. As per the report, the global liquid synthetic rubber industry was pegged at $20.3 billion in 2019, and is projected to reach $28.8 billion by 2027, growing at a CAGR of 4.5% from 2020 to 2027.
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COVID-19 impact analysis:
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The liquid synthetic rubber market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the liquid synthetic rubber market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the liquid synthetic rubber market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
The liquid styrene butadiene rubber segment contributed to the highest share in 2019, accounting for more than two-fifths of the total share, and is estimated to maintain its leadership status during the forecast period. However, the liquid isoprene rubber segment is expected to manifest the highest CAGR of 6.3% from 2020 to 2027.
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Some ruling enterprises in the global liquid synthetic rubber market are examined in the report along with the citation of innovative product launches by them, their collaborative undertakings & endeavors, several merges & acquisitions, and many more. The frontrunners operating in the global liquid synthetic rubber industry include Evonik Industries, Synthomer PLC, H.B. Fuller, Kuraray Co., Ltd., Asahi Kasei Corporation, Saudi Aramco, Efremov Synthetic Rubber, Sibur International GmbH, Nippon Soda Co., Ltd.
The adhesives segment is estimated to showcase the highest CAGR of 5.0% during the forecast period, owing to growing construction industry across developing countries such as China and India that has led to surge in demand for adhesives. However, the tyre manufacturing segment held the largest share in 2019, contributing to more than two-fifths of the global liquid synthetic rubber market, due to presence of major tyre manufacturing companies in China, Japan, and India due to abundant availability of raw materials, low manufacturing cost, and wide scope of application industries.
• Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
• Analysis at country and regional level, which portrays the share of the product or service in different regions.
• Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
• The forecasted market outlook of the liquid synthetic rubber market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
• The COVID-19 impact on the liquid synthetic rubber market
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