Global synthetic rubber demand to reach 13.4 million metric tons by 2015

Global synthetic rubber demand…
The global market for synthetic rubber is projected to reach 13.4 million metric tons by the year 2015. Global demand for synthetic rubber is closely linked to the trends in various end-use markets, particularly automotive and tire industries.

The consumption and production of synthetic rubber was significantly affected by the global economic recession, which led to a steep fall in demand from various end-use markets, particularly automotive sector. As the growth prospects of the global synthetic rubber industry are closely linked to the dynamics in the motor vehicle market, the steep decline in the auto industry significantly dented consumption of synthetic rubber. While the automotive industry in developed countries has been hit by the global economic recession, potential growth opportunities are anticipated from the rapidly expanding motor vehicle market in developing countries of Asia, specifically China and India, Latin America, and Eastern Europe.

China, Japan, and the US continue to be the leading worldwide consumers of synthetic rubber, as stated by the new market research report on Synthetic Rubber. With the global economic recession crippling automotive and construction sectors, impact is also evident on traditionally strong growth sectors of acrylonitrile butadiene styrene (ABS), styrene-butadiene rubber (SBR), and expandable polystyrene (EPS). The recession resulted in lower purchases of new vehicles, particularly in developed regions, which severely affected the growth prospects in ABS and SBR sectors. The demand from tire replacement market also declined, as users sought to delay purchases of new tires due to difficult economic conditions. On the other hand, developing countries, specifically those from Asia, were also affected as the region is home to several automotive component players that manufacture products for export as well as domestic consumption.

Recovery in the global styrene butadiene rubber market, the largest segment in the synthetic rubber market, is likely to be spearheaded by Asian countries, particularly China. Growth in the global SBR consumption is anticipated from the rising demand from Asian countries, particularly China and India, Russia, Central and Eastern Europe, and Central and South America. China’s predominance in SBR consumption is attributed to increasing demand from domestic automobile industry, rising demand for tires, and widespread capacity additions in the SBR sector.

Ethylene Propylene Rubber, a category of synthetic rubber characterized by high resistance to weather conditions, ozone, high temperature and aging, is the third largest segment in the overall global market for synthetic rubbers, after styrene butadiene and polybutadiene rubbers. Of the total EP elastomer consumption, North America, Western Europe and Asia account for a predominant share. The demand scenario in the EP elastomers is heavily dependent on the dynamics in the automotive industry, and hence was significantly impacted by the recession.
Major players profiled in the report include Asahi Kasei Chemicals Corporation, Bridgestone Corporation, Dow Chemical Company, DSM Elastomers, DuPont Performance Elastomers, ExxonMobil Chemical Company, Goodyear Tire & Rubber Company, JSR Corp., Korea Kumho Petrochemical Company, Lanxess AG, Polimeri Europa, SINOPEC Qilu Petrochemical Co. Ltd., Sumitomo Chemical Company Ltd., TSRC Corporation, and Tosoh Corporation.

The research report titled “Synthetic Rubber: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a strategic review of the industry, key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report provides annual sales estimates and projections for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Latin America, and the Middle East. Key segments analyzed include Styrene Butadiene Rubber, Polybutadiene Rubber, Ethylene Propylene Rubber, Polychloroprene Rubber, Nitrile Rubber, Polyisoprene Rubber, and Other Synthetic Rubber.

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