The global market for Synthetic Rubber was valued at US$ 34580 million in the year 2024 and is projected to reach a revised size of US$ 40190 million by 2031, growing at a CAGR of 2.2% during the forecast period. This expansion is fueled by increasing demand across diverse industries, advancements in technology, and the globalization of trade and supply chains. The market is poised for further growth, driven by innovation and the adoption of sustainable practices.

The typical players include Arlanxeo, Sinopec, Goodyear, Kumho Petrochemical, TSRC, NKNK, JSR, LG Chem, etc.

Synthetic Rubber market is relatively concentrated with the top 10 players takes nearly 50% of the share. The global key Synthetic Rubber manufacturers include Arlanxeo, Sinopec, Kumho Petrochemical, CNPC, TSRC, ExxonMobil, Goodyear, NKNK, etc. Geographically, Synthetic Rubber is mainly produced in North America, Europe, and Asia Pacific. Asia Pacific is the fastest growing region, especially China, which plays a more important role in the world.

Asia Pacific takes over 55% of the global market share. In terms of product type, the Synthetic Rubber market covers Styrene Butadiene Rubber (SBR), Polybutadiene Rubber (BR), Styrenic Block Copolymer (SBC), Ethylene Propylene Diene Monomer (EPDM), Butyl Rubber (IIR), Nitrile Butadiene Rubber (NBR), etc. Styrene Butadiene Rubber and Polybutadiene Rubber are the two major types of synthetic rubber consumed.

Synthetic rubber market applications can be split into automotive, industrial, construction, etc. Automotive is the largest market for synthetic rubber which takes over 60% market share. At the beginning of the development of this research report, a summary of the Synthetic Rubber market is provided, along with definitions, applications, new product launches, developments, hurdles, and geographic considerations.

Rising demand across several different industries is expected to fuel the industry's rapid growth.