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Sep 21, 2020 (The Expresswire) —
The rising demand for hydrogenated nitrile-butadiene rubber (HNBR) in various industrial application is expected to enable speedy growth of the market during the forecast period, states Fortune Business Insights in a report, titled “Synthetic Rubber Market Size, Share and Industry Analysis By Type (Polybutadiene Rubber (BR), Styrene Butadiene Rubber (SBR), Nitrile Rubber (NBR), Ethylene Propylene Diene Monomer (EPDM), Others), By Application (Tire, Non-Tire Automotive, Footwear, Industrial Goods, Others) Others and Regional Forecast, 2019-2026” the growing shift from natural rubber to synthetic rubber owing to its robust qualities is likely to spur opportunities for the synthetic rubber market growth during the forecast period.

The Report Lists the Key Companies in theSynthetic Rubber Market:

  • ARLANXEO

  • Kumho Petrochemical

  • Petrochina

  • TSRC

  • ExxonMobil

  • Goodyear

  • Nizhnekamskneftekhim(NKNH)

  • JSR Corporation

  • LG Chem

  • Versalis

  • Dow Chemicals

  • Asahi Kasei Corp

Request A Sample Copy -Synthetic Rubber Market Report Click herehttps://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/synthetic-rubber-market-102144

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Competitive Landscape:

Agreement between ExxonMobil and SABIC to Accelerate Growth

Saudi Basic Industries Corporation (SABIC), a Saudi multinational chemical manufacturing companyannounced its agreement with Exxon Mobil Corporation, an American multinational oil and gas corporation headquartered in Irving, for the completion of a new elastomers plant at Kemya. The new synthetic rubber project will expand Kemya’s product portfolio. The new project involves a total investment of U.S. $3.4 billion, and has the capacity to produce up to 400,000 tons per year. The agreement between the companies is predicted to boost the synthetic rubber market trends in the foreseeable future owing to its high impactful technologies including proprietary ExxonMobil EPDM, thermoplastic elastomer and halobutyl rubber technologies. Moreover, the plant has a rigorous and sophisticated system for waste management, which, in turn, will reduce waste and promote healthy ecosystem. In addition, the growing demand for acrylic rubber is predicted to impel companies to increase their production capacities, which, in turn will facilitate the synthetic rubber market revenue.For instance, Zeon Corporation, a producer and supplier of a wide range of products including synthetic rubbers and specialty resins announced to establish a new subsidiary in Thailand for Acrylic Rubber manufacture and sale to cater to the demand for acrylic rubber in the Asian region. However, the health and environmental hazards due to soot produced during the vulcanization of rubber is expected to restrict the growth of the market. Soot is a dangerous mix of metals and chemicals, if inhaled deep in the lungs can cause heart attacks and cancer.

Regional Analysis:

High Demand from Automotive Industry to Facilitate Growth in North America

Asia Pacific is expected to dominate the global market during the forecast period owing to the high demand for rubber from countries such as China and India. The growing industrialization and urbanization is predicted to bolster healthy growth of the market during the forecast period. The surge in automotive and footwear industry has led a huge demand for synthetic rubber, which, in turn, will augur well for the market .The booming automobile industry in countries such as Germany and the UK is expected to boost the synthetic rubber market share in Europe. The high standard of living is predicted to have a positive impact on the market in Europe. The rising demand for electric vehicles has led to the necessity for synthetic rubber in tire and non-tire automotive applications. This, factor is likely to aid growth of the market in North America. Nonetheless, the rising construction projects and flourishing industries is predicted to augur well for the market in the Middle East and Africa. High Demand in Saudi Arabia for synthetic rubber in industrial applications is expected to enable speedy growth of the market during the forecast period.

Gain More Insights into the Synthetic Rubber Market Research Report

https://www.fortunebusinessinsights.com/soy-chemicals-market-102142

About Us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Synthetic Rubber Market Global Size Overview, Growth Drivers, Industry Share and Forecast to 2026

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