The revenue growth of the liquid synthetic rubber market is being driven by the increasing need for polymer modification across the chemical sector and growing demand from the global automotive industry.
SELBYVILLE, Del., Aug. 11, 2020 /PRNewswire/ -- According to a new report by Global Market Insights Inc., the liquid synthetic rubber market was valued at $10.54 billion in 2019 and is slated to exceed $12 billion by 2026, registering a CAGR of 4.7% from 2020 to 2026. The new research report delivers a highly detailed analysis of the overall market estimations and size, significant investment pockets, major winning strategies, opportunities and drivers, shifting market trends, and competitive scenarios.
Rising usage of liquid synthetic rubber across a plethora of end-user industries, which includes building & construction, automotive, paints & coatings, and electronics, is the most prominent factor driving the overall market growth. The increasing usage of different adhesives as well as sealants throughout the construction industry would further stimulate the liquid synthetic rubber market demand.
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The liquid butadiene segment would account for more than 20% industry share of the liquid synthetic rubber market by the end of the forecast timeframe. liquid butadiene a hydrophobic viscous liquid that boasts of superior electrical resistance and exceptional low-temperature flexibility. The rubber can also be processed using peroxide, sulfur, or oxidative curing. The product has significant compatibility with numerous rubbers as well as hydrocarbon solvents, which makes it ideal for a number of UV ambient as well as heat-curable applications. The product is also utilized as a coagent for EPDM, reactive plasticizer, and in thermoset PU modification.
Key reasons for liquid synthetic rubber market growth:
Rising adoption across the automotive industry.
Increasing application scope across the building and construction segment.
The surge in demand from the APAC manufacturing industry.
2026 forecasts anticipate the 'tire manufacturing' segment to dominate revenue growth:
With respect to application, the overall tire manufacturing segment is expected to witness substantial growth over the coming years. The product is extensively used in the automotive sector for tire manufacturing activities as it enhances balance and wears resistance. LSR used across tire components like rim cushion, bead filler, tread, sidewall or carcass, and cushion. When it comes to bead filler, the product is utilized to enhance hardness, dimensional stability, as well as filler dispersion. Exceptional abrasion resistance and extrudability improve the tread's physical properties. The co-vulcanization ability of LSR helps to prevent oil migration. Additionally, favorable government initiatives coupled with investments across the automotive sector would expedite industry growth. Because tires are an important part of the automobile industry, it is slated to experience the same revenue growth trajectory.
Europe and North America to drive industry growth in terms of revenue:
Europe is projected to hold approximately 24% industry share of the overall liquid synthetic rubber market share by the end of the forecast timeframe. In January 2019, the final anti-dumping tariffs sets on rubber as well as tire products were introduced in Europe. Rising local tire and rubber production would support industry proliferation.
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North America is anticipated to witness more than 4.5% CAGR through the forecast timeframe owing to the positive outlook towards tire manufacturing throughout the region. Tire manufacturers are establishing production units across the U.S. to be in closer proximity to customers. Such industry trends coupled with financial support from government initiatives would further drive the liquid synthetic rubber market outlook.
Leading market players:
Prominent industry players the liquid synthetic rubber industry include Synthomer PLC, HB Fuller, Kuray Co., Ltd., Asahi Kasei Corporation, Nippon Soda Co., Ltd., Efremov Synthetic Rubber, and Evonik Industries. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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Liquid Synthetic Rubber Market Statistics - 2026
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SOURCE Global Market Insights Inc.