Portland, OR, March 22, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global liquid synthetic rubber market garnered $20.3 billion in 2019, and is estimated to reach $28.8 billion by 2027, witnessing a CAGR of 4.5% from 2020 to 2027. The report provides detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, competitive scenario, and regional landscape.
Increase in tyre production worldwide and rise in usage across the adhesive industry drive the global liquid synthetic rubber market. However, variations in prices of raw materials hinder the market growth. On the other hand, rise in penetration in industrial rubber manufacturing create new opportunities in the coming years.
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Covid-19 Scenario:
- The lockdown hindered the manufacturing activities of tyres, adhesives, and automotive parts, which in turn, reduced the demand for liquid synthetic rubber.
- The supply chain has been disrupted due to restrictions on local and international transport. This created a supply-demand gap.
- Insufficiency of raw materials affected the manufacturing activity of liquid synthetic rubber. This negatively affected the growth of the market. However, manufacturing activities would get on track and the demand would increase slowly during the post-lockdown.
The report offers detailed segmentation of the global liquid synthetic rubber market based on product, application, and region.
Based on product, 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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Based on application, the tyre manufacturing segment held the highest share in 2019, accounting for more than two-fifths the global liquid synthetic rubber market, and is projected to continue its dominance in terms of revenue during the forecast period. However, the adhesives segment is projected to witness the fastest CAGR of 5.0% from 2020 to 2027.
Based on region, Asia-Pacific held the largest share in terms of revenue, contributing to nearly three-fifths of the total market share in 2019, and is estimated to maintain its highest contribution by 2027. Moreover, this segment is expected to portray the highest CAGR of 4.8% during the forecast period. The report also analyzes regions including North America, Europe, and LAMEA.
Leading players of the global liquid synthetic rubber market analyzed in the research 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., and Puyang Linshi Chemical New Material Co., Ltd.
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