Asia Pacific Synthetic Rubber Market

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Asia Pacific Synthetic Rubber Market, By Product (Acrylic Rubber (ACM), Butadiene Rubber (BR), Styrene Butadiene Rubber (SBR), Butyl Rubber (IIR), Ethylene Propylene Diene Monomer (EPDM), Fluoroelastomers (FKM)/ Viton, Isoprene Rubber (IR), Silicone Rubber (SIR)); By Application (Tire, Non-Tire Automotive, Industrial Goods, Footwear); By Country (China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Rest of Asia Pacific), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

Published Date: January 2023
Report ID: BWC23032
Available Format: PDF
Page: 200

Report Overview

Increasing sales of EVs, surging demand for synthetic rubber from automotive industries, and growing production and demand for consumer and industrial goods are projected to propel the expansion of Asia-Pacific synthetic rubber market during the forecast period between 2023 and 2029.

Asia-Pacific Synthetic Rubber Market - Industry Trends & Forecast Report, 2029

Asia-Pacific synthetic rubber market size was estimated at USD 9.2 billion in 2022. During the forecast period between 2023 and 2029, the size of Asia-Pacific synthetic rubber market is projected to grow at CAGR of 3.9% reaching a value of USD 12 billion by 2029. Major growth drivers for Asia-Pacific synthetic rubber market include increasing use of synthetic rubber in a variety of applications, increasing penetration of EVs, surging demand from automotive industries, and growing production and demand for consumer and industrial goods. Likewise, the market's rise will be driven by an increase in sports activities such as motor racing competitions and detailed research into tire durability and demand. The growing middle class and rising industrialization have boosted the footwear industry, which will fuel the expansion of Asia-Pacific synthetic rubber market during period in analysis. Asia-Pacific synthetic rubber market will expand rapidly due to increased production of various grades of non-automotive products and tires. Also, China, India, Thailand, Indonesia, Malaysia, and Vietnam are among the world's major producers of natural and synthetic rubber. The region serves a substantial application of synthetic rubber, such as tires. According to the International Organization of Motor Vehicle Manufacturers, more than 50 million automobiles were manufactured in Asia Pacific. India and China have the world's largest two-wheeler industries. The region is a hub for the manufacturing of consumer electronics which creates considerable demand for synthetic rubber in the region.

Asia-Pacific Synthetic Rubber Market

Asia-Pacific Synthetic Rubber Market – Overview

Synthetic rubber, like other polymers, is manufactured from several petroleum-based monomers. The most common synthetic rubber is styrene-butadiene rubber (SBR), which is generated from the copolymerization of styrene and 1, 3-butadiene. The automobile industry is the primary market driver, as it uses synthetic rubber in both tire and non-tire applications. The product's high score is due to its resilience, hardness, and elasticity, which make it a key component in the production of tires for the automobile industry. Bicycles, vehicles, and aircraft account for more than half of all rubber use. Asia Pacific holds the highest revenue share of the synthetic rubber market and is expected to continue to do so in the near future. The Asia Pacific market for synthetic rubber is expanding due to the region's fast-growing economies, such as China and India. Malaysia is another major rubber producer in the region. This is attributed to increased automotive sales in both countries. The expanding construction sector and increased infrastructure projects are projected to benefit the Asia Pacific market. The rising demand for green tires is expected to have a favorable impact on the market throughout the forecast period. Asia Pacific is expected to lead the synthetic rubber industry in terms of output. Furthermore, Chinese petroleum and chemical businesses are being promoted as the world's greatest synthetic rubber manufacturing facility.

Asia-Pacific Synthetic Rubber Market

Growth Drivers

Increasing demand from automotive industries

The market will rise as a result of rising demand for synthetic rubber in the automobile industry. Due to properties such as abrasion and temperature resistance, artificial rubber is used in the automotive industry. Artificial rubber's excellent anti-slip qualities make it perfect for usage in automotive pedals and interior flooring mats. Flooring, door and window profiles, hoses, O-rings and gaskets, and belts are also examples of its uses. It is also commonly utilized in tire manufacturing. Furthermore, it is expected that the expanding global demand for automobiles would enhance product consumption, particularly because rubber goods are utilized to manufacture various motorcycles and automobiles. Due to the rapid expansion of the automotive sector and expanding R&D activities, demand for the product will rise over the forecast period.

Restraints

Environmental regulations and health hazards in manufacturing synthetic rubber

Environmental regulations and health hazards in the synthetic rubber production industry are impeding the growth of the synthetic rubber market. The production of synthetic rubber has been hampered by rigorous environmental requirements. According to the Environmental Protection Agency (EPA), the principal sources of hazardous pollutants are rubber processing, sealant production, and tire manufacturing facilities. For example, the manufacture of butadiene rubber (BR), a type of synthetic rubber, produces hazardous materials such as carbon dioxide, carbon monoxide, and other dangerous gases and vapors.

Impact of COVID-19 on Asia-Pacific Synthetic Rubber Market

COVID-19 had a detrimental impact on synthetic rubber market in terms of both volume and value due to the imposition of severe movement restrictions and lockdowns. As a result, supply chains and production units were severely disrupted. Thus, decreased production in the automotive and other industries due to a lack of raw materials, mostly latex, as a result of delayed trade operations has had a detrimental influence on the synthetic rubber market. However, due to stringent standards being followed during the transfer of raw materials in the synthetic rubber industry, the reopening of country borders is assisting in the resolution of transport and logistic concerns. Manufacturers are increasing their reliance on domestic production in order to reduce their reliance on raw materials from other countries. Multinational corporations have begun to re-evaluate their supply chains and are in the process of reorganizing their supply chains to lessen concentration in a few nations. To keep the economy operating in the face of the ongoing epidemic, market participants are focused on major revenue-generating end uses such as tires, adhesives, and consumer goods.

Asia-Pacific Synthetic Rubber Market

Segmental Coverage

Asia-Pacific Synthetic Rubber Market – By Product

By product, Asia-Pacific synthetic rubber market is divided into Acrylic Rubber (ACM), Butadiene Rubber (BR), Styrene Butadiene Rubber (SBR), Butyl Rubber (IIR), Ethylene Propylene Diene Monomer (EPDM), Fluoroelastomers (FKM)/ Viton, and Isoprene Rubber (IR), and Silicone Rubber (SIR) segments. The ethylene propylene diene monomer (EPDM) segment is expected to dominate the market during the forecast period. EPDM is the most widely used and versatile synthetic rubber, with applications ranging from wire and cable connections to insulators, accumulator bladders, diaphragms, radiator and heater hoses, window and door seals, and more. This rubber is extremely heat and oxidation resistant. It is unbreakable even at temperatures of up to 150 degrees. Also, it has a high resistance to wet and humidity. The roofing material EPDM is used to repair leaks.

Asia-Pacific Synthetic Rubber Market – By Application

Based on application, Asia-Pacific synthetic rubber market is segmented into Tire, Non-Tire Automotive, Industrial Goods, and Footwear. The tire automotive segment held the highest market share in 2022. One element that would promote market expansion is the growth of the automobile sector, together with advancements in tire technology. The non-tire automotive industry is the market's second-largest segment. Rubber usage can be found in automobile mats as well as wire and cables in this area. Conveyor belts, industrial mats, gloves, and wires and cables are examples of industrial rubber goods. Rising product demand in these applications will fuel market expansion.

Asia-Pacific Synthetic Rubber Market Size

Asia-Pacific Synthetic Rubber Market – By Country

Geographically, Asia-Pacific synthetic rubber market covers major countries: China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, and Rest of Asia Pacific. As nitrile and styrene-butadiene rubbers are becoming increasingly popular, both established companies and newcomers are expected to explore for opportunities in China, Australia, and India. The expansion of the footwear industry and the expansion of infrastructure projects promise well for the region's future.

Competitive Landscape

Major players operating in Asia-Pacific synthetic rubber market include Ube Industries, Ltd., Asahi Kasei Corp., Bridgestone Corp., Indian Synthetic Rubber Pvt. Ltd., JSR Corp., LG Chem, Ltd., Reliance Industries Ltd., SABIC, Sumitomo Chemical Co., Ltd., The Goodyear Tire & Rubber Co., Trinseo, and Pirelli & C. S.p.A. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

In 2019 - ExxonMobil Chemical Corporation developed an inner liner material that it believes will significantly improve air retention in tires at the Future Tire Sustainability conference in Cologne.

Scope of the Report

Attributes	Details
Years Considered	Historical Data – 2019–2022
	Base Year – 2022
	Estimated Year – 2023
	Forecast Period – 2023–2029
Facts Covered	Revenue in USD Billion
Market Coverage	China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Rest of Asia Pacific
Product/ Service Segmentation	Product Type, Application, Country
Key Players	Ube Industries, Ltd., Asahi Kasei Corp., Bridgestone Corp., Indian Synthetic Rubber Pvt. Ltd., JSR Corp., LG Chem, Ltd., Reliance Industries Ltd., SABIC, Sumitomo Chemical Co., Ltd., The Goodyear Tire & Rubber Co., Trinseo, Pirelli & C. S.p.A

By Product

Acrylic Rubber (ACM)
Butadiene Rubber (BR)
Styrene Butadiene Rubber (SBR)
Butyl Rubber (IIR)
Ethylene Propylene Diene Monomer (EPDM)
Fluoroelastomers (FKM)/ Viton
Isoprene Rubber (IR)
Silicone Rubber (SIR)

By Application

Tire
Non-Tire Automotive
Industrial Goods
Footwear

By Country

China
India
Japan
South Korea
Australia & New Zealand
Indonesia
Malaysia
Singapore
Philippines
Vietnam
Rest of Asia Pacific

Research Framework
1. Research Objective
2. Product Overview
3. Market Segmentation
Executive Summary
Asia Pacific Synthetic Rubber Market Insights
1. Industry Value Chain Analysis
2. DROC Analysis
  1. Growth Drivers
    1. Increasing Penetration of EVs
    2. Surging Demand from Automotive Industries
    3. Growing Production and Demand for Consumer and Industrial Goods
  2. Restraints
    1. Environmental Regulations
    2. Health Hazards in Manufacturing Synthetic Rubber
  3. Opportunities
    1. Surging Demand for High-Performance and Eco-Friendly Tires
    2. Technological Advancements and Modernization in The Production Techniques
  4. Challenges
    1. Volatility in The Prices of Raw Materials
3. Technology Advancements/Recent Developments
4. Regulatory Framework
5. Porter’s Five Forces Analysis
  1. Bargaining Power of Suppliers
  2. Bargaining Power of Buyers
  3. Threat of New Entrants
  4. Threat of Substitutes
  5. Intensity of Rivalry
Asia Pacific Synthetic Rubber Market Overview
1. Market Size & Forecast, 2019–2029
  1. By Value (USD Million)
2. Market Share & Forecast
  1. By Product
    1. Acrylic Rubber (ACM)
    2. Butadiene Rubber (BR)
    3. Styrene Butadiene Rubber (SBR)
    4. Butyl Rubber (IIR)
    5. Ethylene Propylene Diene Monomer (EPDM)
    6. Fluoroelastomers (FKM)/ Viton
    7. Isoprene Rubber (IR)
    8. Silicone Rubber (SIR)
    9. Others
  2. By Application
    1. Tire
    2. Non-Tire Automotive
    3. Industrial Goods
    4. Footwear
    5. Others
  3. By Country
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Australia & New Zealand
    6. Indonesia
    7. Malaysia
    8. Singapore
    9. Philippines
    10. Vietnam
    11. Rest of Asia Pacific
China Synthetic Rubber Market
1. 1. Market Size & Forecast, 2019–2029
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Application
India Synthetic Rubber Market
1. 1. Market Size & Forecast, 2019–2029
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Application
Japan Synthetic Rubber Market
1. 1. Market Size & Forecast, 2019–2029
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Application
South Korea Synthetic Rubber Market
1. 1. Market Size & Forecast, 2019–2029
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Application
Australia & New Zealand Synthetic Rubber Market
1. 1. Market Size & Forecast, 2019–2029
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Application
Indonesia Synthetic Rubber Market
1. 1. Market Size & Forecast, 2019–2029
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Application
Malaysia Synthetic Rubber Market
1. 1. Market Size & Forecast, 2019–2029
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Application
Singapore Synthetic Rubber Market
1. 1. Market Size & Forecast, 2019–2029
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Application
Philippines Synthetic Rubber Market
1. 1. Market Size & Forecast, 2019–2029
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Application
Vietnam Synthetic Rubber Market
1. 1. Market Size & Forecast, 2019–2029
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Application
Rest of Asia Pacific Synthetic Rubber Market
1. 1. Market Size & Forecast, 2019–2029
  2. By Value (USD Million)
2. Market Share & Forecast
  1. By Product Type
  2. By Application
Competitive Landscape
1. List of Key Players and Their Offerings
2. Asia-Pacific synthetic Rubber Company Market Share Analysis, 2022
3. Competitive Benchmarking, By Operating Parameters
4. Key Strategic Developments (Mergers, Acquisitions, Partnerships
Impact of Covid-19 on Asia Pacific Synthetic Rubber Market
Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
1. Ube Industries, Ltd.
2. Asahi Kasei Corp.
3. Bridgestone Corp.
4. Indian Synthetic Rubber Pvt. Ltd.
5. JSR Corp.
6. LG Chem, Ltd.
7. Reliance Industries Ltd.
8. SABIC
9. Sumitomo Chemical Co., Ltd.
10. The Goodyear Tire & Rubber Co.
11. Trinseo
12. Pirelli & C. S.p.A
13. Other Prominent Players
Key Strategic Recommendations
Research Methodology
1. Qualitative Research
  1. Primary & Secondary Research
2. Quantitative Research
3. Market Breakdown & Data Triangulation
  1. Secondary Research
  2. Primary Research
4. Breakdown of Primary Research Respondents, By Region
5. Assumptions & Limitations

*Financial in Sales operating of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1 Asia-Pacific Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Figure 2 Asia-Pacific Synthetic Rubber Market Share, By Product Type, By Value, 2019–2029

Figure 3 Asia-Pacific Synthetic Rubber Market Share, By Application, By Value, 2019–2029

Figure 4 Asia-Pacific Synthetic Rubber Market Share, By Country, By Value, 2019–2029

Figure 5 China Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Figure 6 China Synthetic Rubber Market Share, By Product Type, By Value, 2019–2029

Figure 7 China Synthetic Rubber Market Share, By Application, By Value, 2019–2029

Figure 8 India Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Figure 9 India Synthetic Rubber Market Share, By Product Type, By Value, 2019–2029

Figure 10 India Synthetic Rubber Market Share, By Application, By Value, 2019–2029

Figure 11 Japan Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Figure 12 Japan Synthetic Rubber Market Share, By Product Type, By Value, 2019–2029

Figure 13 Japan Synthetic Rubber Market Share, By Application, By Value, 2019–2029

Figure 14 South Korea Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Figure 15 South Korea Synthetic Rubber Market Share, By Product Type, By Value, 2019–2029

Figure 16 South Korea Synthetic Rubber Market Share, By Application, By Value, 2019–2029

Figure 17 Australia & New Zealand Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Figure 18 Australia & New Zealand Synthetic Rubber Market Share, By Product Type, By Value, 2019–2029

Figure 19 Australia & New Zealand Synthetic Rubber Market Share, By Application, By Value, 2019–2029

Figure 20 Indonesia Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Figure 21 Indonesia Synthetic Rubber Market Share, By Product Type, By Value, 2019–2029

Figure 22 Indonesia Synthetic Rubber Market Share, By Application, By Value, 2019–2029

Figure 23 Malaysia Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Figure 24 Malaysia Synthetic Rubber Market Share, By Product Type, By Value, 2019–2029

Figure 25 Malaysia Synthetic Rubber Market Share, By Application, By Value, 2019–2029

Figure 26 Singapore Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Figure 27 Singapore Synthetic Rubber Market Share, By Product Type, By Value, 2019–2029

Figure 28 Singapore Synthetic Rubber Market Share, By Application, By Value, 2019–2029

Figure 29 Philippines Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Figure 30 Philippines Synthetic Rubber Market Share, By Product Type, By Value, 2019–2029

Figure 31 Philippines Synthetic Rubber Market Share, By Application, By Value, 2019–2029

Figure 32 Vietnam Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Figure 33 Vietnam Synthetic Rubber Market Share, By Product Type, By Value, 2019–2029

Figure 34 Vietnam Synthetic Rubber Market Share, By Application, By Value, 2019–2029

Figure 35 Rest of APAC Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Figure 36 Rest of APAC Synthetic Rubber Market Share, By Product Type, By Value, 2019–2029

Figure 37 Rest of APAC Synthetic Rubber Market Share, By Application, By Value, 2019–2029

List of Tables

Table 1 Asia-Pacific Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Table 2 Asia-Pacific Synthetic Rubber Market Size, By Product Type, By Value, 2019–2029

Table 3 Asia-Pacific Synthetic Rubber Market Size, By Application, By Value, 2019–2029

Table 4 Asia-Pacific Synthetic Rubber Market Size, By Country, By Value, 2019–2029

Table 5 China Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Table 6 China Synthetic Rubber Market Size, By Product Type, By Value, 2019–2029

Table 7 China Synthetic Rubber Market Size, By Application, By Value, 2019–2029

Table 8 India Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Table 9 India Synthetic Rubber Market Size, By Product Type, By Value, 2019–2029

Table 10 India Synthetic Rubber Market Size, By Application, By Value, 2019–2029

Table 11 Japan Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Table 12 Japan Synthetic Rubber Market Size, By Product Type, By Value, 2019–2029

Table 13 Japan Synthetic Rubber Market Size, By Application, By Value, 2019–2029

Table 14 South Korea Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Table 15 South Korea Synthetic Rubber Market Size, By Product Type, By Value, 2019–2029

Table 16 South Korea Synthetic Rubber Market Size, By Application, By Value, 2019–2029

Table 17 Australia & New Zealand Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Table 18 Australia & New Zealand Synthetic Rubber Market Size, By Product Type, By Value, 2019–2029

Table 19 Australia & New Zealand Synthetic Rubber Market Size, By Application, By Value, 2019–2029

Table 20 Indonesia Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Table 21 Indonesia Synthetic Rubber Market Size, By Product Type, By Value, 2019–2029

Table 22 Indonesia Synthetic Rubber Market Size, By Application, By Value, 2019–2029

Table 23 Malaysia Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Table 24 Malaysia Synthetic Rubber Market Size, By Product Type, By Value, 2019–2029

Table 25 Malaysia Synthetic Rubber Market Size, By Application, By Value, 2019–2029

Table 26 Singapore Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Table 27 Singapore Synthetic Rubber Market Size, By Product Type, By Value, 2019–2029

Table 28 Singapore Synthetic Rubber Market Size, By Application, By Value, 2019–2029

Table 29 Philippines Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Table 30 Philippines Synthetic Rubber Market Size, By Product Type, By Value, 2019–2029

Table 31 Philippines Synthetic Rubber Market Size, By Application, By Value, 2019–2029

Table 32 Vietnam Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Table 33 Vietnam Synthetic Rubber Market Size, By Product Type, By Value, 2019–2029

Table 34 Vietnam Synthetic Rubber Market Size, By Application, By Value, 2019–2029

Table 35 Rest of APAC Synthetic Rubber Market Size, By Value (USD Million), 2019–2029

Table 36 Rest of APAC Synthetic Rubber Market Size, By Product Type, By Value, 2019–2029

Table 37 Rest of APAC Synthetic Rubber Market Size, By Application, By Value, 2019–2029

Table 38 China Railway Construction Corporation Limited Company Overview

Table 39 China Railway Construction Corporation Limited Financial Overview

Table 40 Ube Industries, Ltd. Company Overview

Table 41 Ube Industries, Ltd. Financial Overview

Table 42 Asahi Kasei Corp. Company Overview

Table 43 Asahi Kasei Corp. Financial Overview

Table 44 Bridgestone Corp. Company Overview

Table 45 Bridgestone Corp. Financial Overview

Table 46 Indian Synthetic Rubber Pvt. Ltd. Company Overview

Table 47 Indian Synthetic Rubber Pvt. Ltd. Financial Overview

Table 48 JSR Corp. Company Overview

Table 49 JSR Corp. Financial Overview

Table 50 LG Chem, Ltd. Company Overview

Table 51 LG Chem, Ltd. Financial Overview

Table 52 Reliance Industries Ltd. Company Overview

Table 53 Reliance Industries Ltd. Financial Overview

Table 54 SABIC Company Overview

Table 55 SABIC Financial Overview

Table 56 Sumitomo Chemical Co., Ltd. Company Overview

Table 57 Sumitomo Chemical Co., Ltd. Financial Overview

Table 58 The Goodyear Tire & Rubber Co. Company Overview

Table 59 The Goodyear Tire & Rubber Co. Financial Overview

Table 60 Trinseo Company Overview

Table 61 Trinseo Financial Overview

Table 62 Pirelli & C. S.p.A Company Overview

Table 63 Pirelli & C. S.p.A Financial Overview

Market Segmentation

By Product

Acrylic Rubber (ACM)
Butadiene Rubber (BR)
Styrene Butadiene Rubber (SBR)
Butyl Rubber (IIR)
Ethylene Propylene Diene Monomer (EPDM)
Fluoroelastomers (FKM)/ Viton
Isoprene Rubber (IR)
Silicone Rubber (SIR)

By Application

Tire
Non-Tire Automotive
Industrial Goods
Footwear

By Country

China
India
Japan
South Korea
Australia & New Zealand
Indonesia
Malaysia
Singapore
Philippines
Vietnam
Rest of Asia Pacific

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Frequently Asked Questions (FAQs):

1. What is the current market size of Asia-Pacific Synthetic Rubber Market?

Ans: In 2022, Asia-Pacific synthetic rubber market size was estimated at USD 9.2 billion.

2. What are the major factors driving the growth of Asia-Pacific Synthetic Rubber Market?

Ans: Major factors driving the growth of Asia-Pacific synthetic rubber market include increasing penetration of EVs, surging demand from automotive industries, and growing production and demand for consumer and industrial goods.

3. Which segment account for highest market share in Asia-Pacific Synthetic Rubber Market by application?

Ans: The tire segment is expected to hold the highest market share in Asia-Pacific synthetic rubber market by application.

4. Name the key players in Asia-Pacific Synthetic Rubber Market.

Ans: Key players in Asia-Pacific synthetic rubber market include Ube Industries, Ltd., Asahi Kasei Corp., Bridgestone Corp., Indian Synthetic Rubber Pvt. Ltd., JSR Corp., LG Chem, Ltd., Reliance Industries Ltd., SABIC, Sumitomo Chemical Co., Ltd., The Goodyear Tire & Rubber Co., Trinseo, and Pirelli & C. S.p.A.

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