The Business Research Company’s Synthetic Rubber And Fibers Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, August 27, 2021 /EINPresswire.com/ — According to the new market research report ‘Synthetic Rubber And Fibers Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, the synthetic rubber and fibers market is expected to grow from $1.96 trillion in 2020 to $2.378 trillion in 2021 at a compound annual growth rate (CAGR) of 21%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2.62 trillion in 2025 at a CAGR of 2%. Technology is expected to be a continued driver of market growth during this period.
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The synthetic rubber and fibers market consists of the sales of synthetic rubber and fibers by entities (organizations, sole traders or partnerships) that produce synthetic rubber which is an artificial elastomer which is produced via the polymerization of a variety of petroleum-based monomers.
Trends In The Global Synthetic Rubber And Fibers Market
Many manufacturers have started to use more synthetic than natural rubber because falling crude oil prices led to lower prices. Synthetic rubber prices dropped 15% in Europe and 5% in the USA in the second quarter of compared to a year earlier. Synthetic rubber supply was consistent and more affordable than natural rubber during the studied period. According to estimates, European manufacturers now use 60% synthetic rubber and 40% natural rubber for manufacturing products associated with rubber. For instance, according to the report by Rubber World, the global synthetic rubber market is expected to reach 21.2 million metric tons by 2024.
Global Synthetic Rubber And Fibers Market Segments:
The global synthetic rubber and fibers market is further segmented based on type and geography.
By Type: Synthetic Fibers, Styrene Butadiene Rubber (SBR), Polybutadiene (BR), Ethylene Propylene (EPDM), Other Synthetic Rubber And Fibers
By Application: Non-Tire Automotive, Footwear, Tire, Construction, Others
By Geography: The global synthetic rubber and fibers market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global synthetic rubber and fibers market.
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Synthetic Rubber And Fibers Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides synthetic rubber and fibers global market overviews, analyzes and forecasts market size and growth for the global synthetic rubber and fibers market, synthetic rubber and fibers market share, synthetic rubber and fibers market players, synthetic rubber and fibers market segments and geographies, synthetic rubber and fibers market’s leading competitors’ revenues, profiles and market shares. The synthetic rubber and fibers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Synthetic Rubber And Fibers Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Synthetic Rubber And Fibers Market Organizations Covered: DOW, Owens Corning, KUMHO Petrochemical, Teijin, TSRC Corporation.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Petrochemicals Market – By Type (Ethylene, Propylene, Benzene, Xylene, Styrene, Toluene, Cumene, Others), By End-User (Textile, Furniture, Paints And Coatings, Pharmaceuticals, Synthetic Rubber And Fibers, Plastic Materials And Resins, Toiletries And Cleaning Compounds, Others), And By Region, Opportunities And Strategies – Global Forecast To 2030
Automotive Lightweight Materials Global Market Report 2021 – By Material Type (Metals, Composites, Plastics, Elastomer), By Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle), By Application (Body In White, Chassis And Suspension, Powertrain, Closures, Interiors), COVID-19 Impact And Recovery
Ethylene Propylene (EPDM) Global Market Report 2021 – By Product Type (Solution Polymerization, Suspension Polymerization), By Application (Automotive, Building & Construction, Plastic Modification, Lubricant Additive, Wires & Cables, Tires & Tubes), COVID-19 Impact And Recovery
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