Scienza e Tecnologia
Liquid Synthetic Rubber Market to Garner $28.8 Billion, Globally, By 2027 at 4.5% CAGR, Says Allied Market Research
Increase in use of liquid synthetic rubber across the adhesive industry and rise in tyre production across the globe have boosted the growth of the global liquid synthetic rubber market. However, fluctuating raw material prices hinder the market growth. On the contrary, surge in product penetration in industrial rubber manufacturing is expected to open lucrative opportunities for the market players in the future.
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By resin type, the liquid styrene butadiene rubber segment held the lion's share in 2019, accounting for more than two-fifths of the global liquid synthetic rubber market, due to rise in focus on durability and performance of tyres along with the adoption of tyre labeling regulations. However, the liquid isoprene rubber segment is projected to register the highest CAGR of 6.3% during the forecast period, as rise in infrastructure development and construction activities across developing countries such as India and China .
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By application, the adhesives segment is estimated to showcase the highest CAGR of 5.0% during the forecast period, owing to growing construction industry across developing countries such as China and India that has led to surge in demand for adhesives. However, the tyre manufacturing segment held the largest share in 2019, contributing to more than two-fifths of the global liquid synthetic rubber market, due to presence of major tyre manufacturing companies in China , Japan , and India due to abundant availability of raw materials, low manufacturing cost, and wide scope of application industries.
By region, the market across Asia-Pacific , followed by Europe and North America , is estimated to register the highest CAGR of 4.8% during the forecast period. In addition, the region dominated in 2019, accounting for nearly three-fifths of the global liquid synthetic rubber market, due to rapid development of the manufacturing and construction sector across China , India , and Japan .
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