Synthetic Rubber Market Is Expected to Reach Us$ 45,767.1 Mn by 2023.Pdf

Transparency Market

Research

Synthetic Rubber Market- Global Industry

Analysis and Forecast 2015-2023

Published Date

16-July-2015

212 Page Report

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Synthetic Rubber Market is Expected to Reach US$ 45,767.1 Mn by 2023:TMR

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Synthetic Rubber Market

REPORT DESCRIPTION

Synthetic Rubber (SBR, BR, EPDM, NBR, and Others) Market for Tires,

Industrial Goods, Footwear, and Other End-users - Global Industry

Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

Transparency Market Research (www.transparencymarketresearch.com) has released a new market

report titled “Synthetic Rubber Market - Global Industry Analysis, Size, Share, Growth, Trends and

Forecast, 2015 - 2023.” According to the report, the global synthetic rubber market was valued at US$

29,121.2 Mn in 2014 and is anticipated to reach US$ 45,767.1 Mn by 2023, expanding at a CAGR of

5.1% from 2015 to 2023.

Synthetic rubbers are principally considered as an alternative to natural rubber. Strong emergence of

synthetic rubbers in the global rubber market can be chiefly attributed to several interconnected

factors. One of the major factors that compelled rubber consumers to shift from natural rubber to

synthetic rubber is extremely instable prices of natural rubber.

Prevalence of price volatility in the natural rubber market is primarily caused by issues such as

inconsistent supply due to fluctuations in raw material obtainability, geographic constraints on rubber

plantations, long transport distances, and rapidly rising demand for rubber across the globe. This

changing dynamics of the global rubber market has resulted in growing demand for synthetic rubber.

This, in turn, is helping industrial consumers of rubber to accomplish cost benefit and raised profit

margins.

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