Global Synthetic Rubber Market Size Estimated To Reach at USD 66.91 billion in 2026 says a new report by Polaris Market Research The global Synthetic Rubber Market generated USD 66.91 billion in 2017 and is anticipated to grow at a CAGR of 5.4% during the forecast period.
Synthetic rubber is an artificial rubber and is made from different raw materials such as styrene, butadiene, chloroprene, isoprene, acrylonitrile, isobutylene, ethylene, and propylene. Rubber demand is mainly stimulating with accelerating production of automobile products.
Request for Sample of This Research Report @ https://bit.ly/2TeoTZJ Synthetic rubber market is mainly driven by its high utilization in the automobile industry for both tire and non-tire applications. On account of its resilience, toughness, and elasticity it is one of the basic and major constituents of tires in the automobile industry. More than half of the the total rubber consumption takes place in manufacturing tires for aircrafts, automotive vehicles, and bicycles. Apart from this, a significant portion is utilized for mechanical parts and the consumer products.
Automotive is one of the fastest growing application segments for the market. The emergence of smart electric hybrid vehicles is continuously brimming with technology and has witnessed rapid growth rate as its an energy-efficient alternative. Such energy-efficient automotive have led to increased use of rubber in the tire and non-tire applications of the consumer vehicles. Heavy-duty vehicles have also witnessed large manufacturing, especially in the emerging nations.