Market Insights:
Liquid Synthetic Rubber Market was valued at USD 4.23 Billion in 2021, and the market is predicted to register a growth of USD 6.28 Billion by 2030 at a CAGR growth of 4.49% during the forecast period (2022-2030).
Liquid synthetic rubber are low molecular weight compounds and are composed of polymer units that are linked by urethane groups. There are several forms of liquid synthetic rubber like liquid butadiene, liquid styrene-butadiene, liquid isoprene, and others. These rubbers have exceptional properties for tooling applications and are resistant to tear and wear. Additionally, abrasion resistance, high resilience with little heat accumulation, cut growth resistance, and low-temperature flexibility are all benefits of liquid synthetic rubber. Rubber is commonly used in polymer production, moldings, casting, ducting, rollers, the manufacturing of tires, and industrial rubber. Furthermore, liquid synthetic rubber reduces viscosity and is majorly used as a raw material in the production of high-performance tires. As, this reduces migration, balances grip, improves tire performance by simultaneously controlling the fuel efficiency, and wear resistance. Moreover, there are exclusive properties of liquid synthetic rubber like good resilience, excellent impact strength, abrasion-resistant, blend compatibility, and high tensile strength. Thus, they are frequently used in automotive parts, mechanical rubber goods, and tire & tire products.
Liquid synthetic rubber is extensively used in tire manufacturing, polymer modification, industrial rubber manufacturing, and others. Also, about 70% of the production of polybutadiene are consumed by the manufacturing process of tire. Around 80.14 million vehicles were manufactured universally in 2021 while 77.71 million vehicles produced in 2020, registering the growth rate of 3% in accordance to OICA. Thus, growth in automotive vehicle production is likely to drive the demand for tires during the study period.
There are around 47 tire manufacturing plants in the United States, with a total 760.06 thousand units per day capacity. These capacities comprises of passenger cars, trucks, light trucks, and other tires. The total US tire shipments witnessing for about 332.7 million units in 2021, according to the US Tire Manufacturers Association (USTMA), which is likely to drive the demand for the market.
Market Dynamics:
Driver:
- The growing demand for butadiene, styrene-butadiene, and isoprene as adhesives, sealants, and coatings mainly drives the market growth.
- The large adoption of such rubber for high-quality tire manufacturing and expanding automotive sector results in augmented market growth.
- Factors such as increase in the number of rubber manufacturing industries, the rising use of LSR (Liquid silicone rubber) as an adhesive are the key drivers increasing the market growth.
- The high price of natural rubber are mainly expanding the growth of the liquid synthetic rubber market globally.
Restraint:
- The major factor inhibiting the growth of the market is the instability in the costs of the raw materials. So the availability of raw materials at changing costs may obstruct the growth of the market.
- The manufacture of synthetic rubber involves numerous chemical compounds which are toxic to humans and the environment.
COVID-19 Impact:
The liquid synthetic rubber market has been severely impacted by the COVID-19 pandemic in various regions of the world. In the early days, widespread lockdowns imposed in most countries severely disrupted supply chains and made difficult for manufacturers to ramp up production. Moreover, the automotive manufacturing activities were temporarily closed during the lockdown to control the spread of new COVID-19 cases, thus dropping the demand for liquid synthetic rubber-based automotive parts like hoses, tank linings, tyres, drive belts, seals, gaskets and others. Furthermore, the early impact of the pandemic in China was enormous. However, this was noted that the overall impact of COVID-19 on the market was moderate. Post-COVID-19 will continue to benefit from the expansion of the liquid synthetic rubber market and accelerate the market growth rate.
Liquid Synthetic Rubber Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 6.28 Billion |
| CAGR (2022-2030) | 4.49 % |
| By Product | Liquid Isoprene Rubber, Liquid Butadiene Rubber, Liquid Styrene Butadiene Rubber, and others |
| By Application | Adhesives, Industrial Rubber, Tyre Manufacturing, Polymer Modification, and others.
|
| By Geography | North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. |
| Key Players | Evonik Industries AG; Synthomer plc; Royal Adhesives & Sealants; Nippon Soda Co., Ltd.; TER HELL & Co. GmbH; Kuraray Co., Ltd., KUMHO PETROCHEMICAL, Lion Elastomers, U.S. Plastic Corp |
Market Segmentation:
By Product:
The Product segment is divided into liquid isoprene rubber, liquid butadiene rubber, liquid styrene butadiene rubber (SBR), and others. The segment of liquid styrene butadiene had the biggest revenue share of USD 35.7 Billion in 2021. This is expected to increase the market growth by USD 37.79 Billion, registering a CAGR growth of 5.8% over the forecast period. The rising use of this rubber in tire manufacture is responsible for the segment’s rise. Along with the extraordinary properties like great abrasion resistance, low rolling resistance, strong resilience, and high tensile strength. Furthermore, SBR provides tensile strength and extraordinary flexibility when used in adhesives, tires, coatings and building sealants. Furthermore, the construction sector is expected to have a strong growth potential for liquid styrene butadiene owing to the wide range of possible applications.
By Application:
The market for liquid synthetic rubber is segmented into adhesives, industrial rubber manufacturing, tire manufacturing, polymer modification, and other segments based on the application. Over the forecast period, the tire manufacturing segment is expected to dominate the market. The presence of major tyre manufacturers such as Michelin, Pirelli, Bridgestone, and Apollo along with the innovative manufacturing techniques are likely to expand the market. Furthermore, the rapid development of the manufacturing sector in developing countries like China and India, especially in the automotive and construction materials sectors is likely to drive the growth of the Liquid Synthetic Rubber Market. About 70% of the SBR produced universally are used in the tyre’s manufacturing, leading to rise in the demand for synthetic rubbers in automotive industry. Moreover, the replacement tires market has expanded due to increased customer inclination towards high-performance tires and enhanced vehicle life.
By Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. The Asia-Pacific region conquered the liquid synthetic rubber market, with the highest consumption from countries like India, Japan and China. Further, this region is expected to lead the market for liquid synthetic rubber over the estimated period. This is due to increasing demand for coatings, and polymer modification, tire manufacturing, adhesives and sealants, industrial rubber manufacturing in countries like China, India, and Japan. Moreover, the availability of large raw materials, less cost of manufacturing, and a wide range of application in these region results in market growth. China is the largest producer and consumer of automotive vehicles. About 26.08 million vehicles were manufactured in China in 2021 while, 25.25 million vehicles were manufactured in 2020 according to OICA, registering a growth rate of 2%.
Additionally, the Chinese government permitted 26 infrastructure projects at projected investment of USD 142 billion in 2019, likely to be over by 2023 according to National Development and Reform Commission. Moreover, in March 2021, the subordinate of the unicorn Indian start-up named Ola Electric introduced the globe’s largest electric scooter plant in Hosur, Bengaluru. The price of this setup is likely to be worth of USD 330 million, and the plant targets to produce 2 million units a year. Thus, increasing the market growth in India.
Liquid Synthetic Rubber Market Competitive Landscape:
The competitive landscape of the market has been examined in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), various business strategies, and Deployment launches have accelerated the growth of the Sample Preparation market. Key players in the market include-
- Evonik Industries AG
- Synthomer plc
- Royal Adhesives & Sealants
- Nippon Soda Co., Ltd.
- TER HELL & Co. GmbH
- Kuraray Co., Ltd.
- KUMHO PETROCHEMICAL
- Lion Elastomers
- S. Plastic Corp
Recent Developments:
- In April 2021, a firm named Arlanxeo located in Netherlands sustained to grow its journey in the India with the introduction of Arlanxeo India Private Limited.
- In May 2021, Japanese based petroleum firm called Eneos Corporation has signed a contract with the Japanese synthetic rubber manufacturer JSR Corporation to attain the latter’s elastomers business. This business includes the manufacture and sale of synthetic rubber. JSR, whose chief product is the styrene-butadiene rubber (SSBR) brings materials for the tire sector to produce high-performance tires and fuel-efficient.
- In November 2018, Korea Trade-Investment Promotion Agency (KOTRA) is known as Kumho Chemical’s SBS product for World-class product award. The current 80 kilo tons of SBS production capacity was increased by adding 10 kilo tons of additional capacity by the firm.
- In September 2018, SIBUR is a Russian petrochemicals company which announced ideas to expand its styrene-based elastomers plant in Voronezh, Russia. The existing 85 kilo tons thermoplastic elastomers plant in Russia will be increased by another 50 kilo tons of styrene elastomers manufacturing capacity by the new line of elastomers.
Table of Content
To check our Table of Contents, please mail us at: [email protected]
Research Methodology
The Market Research Community offers numerous solutions and its full addition in the research methods to be skilled at each step. We use wide-ranging resources to produce the best outcome for our customers. The achievement of a research development is completely reliant on the research methods implemented by the company. We always faithful to our clients to find opportunities by examining the global market and offering economic insights.Market Research Community are proud of our widespread coverage that encompasses the understanding of numerous major industry domains. Company offers consistency in our research report, we also offers on the part of the analysis of forecast across a range of coverage geographies and coverage. The research teams carry out primary and secondary research to carry out and design the data collection methods.