“The Liquid Synthetic Rubber Market is projected to grow at a CAGR of 5.9% during the forecast period 2021-2028″
Liquid synthetic rubber (LSR) is used as one of the alternatives for the natural rubber. The polymer compounds such as cis-1,4-polyisoprene, cis-1,4-polybutadiene, and styrene are the major raw materials used in the manufacturing of LSR. These high-viscosity synthetic rubbers are based on isoprene, butadiene and styrene has major applications in tire industry.
The LSR industry growing at a healthy pace especially in the Asia-Pacific region owing to increase in supply-demand gap. For instance, in India, Natural rubber production declines, demand-supply gap rises to 45% in the period between April 2018 to January 2019.
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Rising demand for automotive tires, increasing demand for light weight footwear, and lower processing costs are some the factors influencing the growth of liquid synthetic rubber market. Using liquid synthetic rubber during the rubber compounding phase significantly reduces processing time while maintaining the rubber compounds’ physical properties. This results in a product with lower processing costs. Also, increasing tire production will boost the LSR market further. Asia-Pacific is the world’s largest and fastest tire market owing to increase in motorcycle tire sales and growing disposable income levels. Motorcycle tire sales are largely concentrated in fast-growing developing areas in the Asia/Pacific region, where motorcycles are used as low-cost substitutes for motor vehicles. In these countries, motorcycle sales are expected to continue to register healthy advances as economic growth spurs additional purchases and income levels remain too low for much of the population to upgrade to motor vehicles.
However stringent government regulations especially in Europe and the United States is hindering the liquid synthetic rubber market growth. The growing development of innovative products and increasing mergers & acquisitions by key players are expected to provide various opportunities for the market growth during the forecast period.
Liquid Isoprene Rubber
Liquid Butadiene Rubber
Liquid Styrene Butadiene Rubber
Adhesives & Sealants
Paints and Coatings
Industrial Rubber Components
Asia-Pacific is dominating the global liquid synthetic rubber in terms of volume and value in 2018 and estimated to hold largest market size over the forecast period (2020-2027) owing to the presence of major tire manufacturing companies especially in China and Japan. Moreover, availability of raw materials, low manufacturing cost, and wide scope of application industries is expected to drive the regional market growth over the forecast period. For instance, China is the world’s largest producer of synthetic rubber as well as raw materials, such as butadiene, styrene, and solvents, and catalysts. Rapid development of manufacturing sector in the country; primarily automotive and construction materials, is expected to drive the market over the projected period.
Europe is also one of the lucrative markets for LSR owing to growing automotive industry and the presence of major tire manufacturing companies like Goodyear, Firestone or Michelin.
However, massive investments were required to develop industrial grade liquid synthetic rubber, the production technology was heavily concentrated in long-established global major chemical companies such as BASF, Lanxess, DOW, Shell, Exxon, DuPont or major players in the tire industry like Goodyear, Firestone or Michelin.
The Liquid Synthetic Rubber market is a moderately fragmented with presence of global and regional players. The competitive edge lies with the increased regional presence and growing investment in the downstream applications. Synthomer plc, Royal Adhesives & Sealants, TER HELL & Co. GmbH and Kuraray Co., Ltd. are the major players. Manufacturers are actively involved in R&D as the low product differentiation has forced the manufacturers to focus on the product quality development.
In March 2019, Kuraray has developed a series of liquid rubber products with molecular weights ranging from a few thousand to a hundred thousand. These polymers, which consist of isoprene, butadiene, styrene and a new, bio-based monomer called Farnesene, can be used by tire manufacturers to achieve improvements in processing and tire performances.
Sai Kiran Sales Manager at DataM Intelligence Email: [email protected] Tel: +1 877 441 4866 Website: www.datamintelligence.com