Various types of commercialized synthetic rubber
market are styrene-butadiene (SBR), nitrile, chloroprene, silicone rubber, etc.
Reclaimed or recycled rubber is manufactured by application of heat and
chemical agents, and mechanical working on ground vulcanized scarp tubes, tires
and other waste products. The major uses of reclaimed rubber is in passenger
tire carcass, inner tubes, tubeless tire liners, extruded and calendared
products, insulation tiles used in laying pedestrian, in metro railways, etc.
Rubber market has myriad end use domain such as
automobile & transportation, electrical & electronics, construction,
packing, etc. Automobile & transportation has gathered enough substantiation
to widen the product application matrix owing to the maximum use of rubber in
tire industry, and other application such as brakes, flooring, interior of
passenger cars, bus, etc. Global tire demand in 2016 was more than 1500 million
unit and it is likely to grow in forecast timeframe which in turn will propel
the growth of rubber market.
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Rubber Market
Size is likely to witness a steady growth from 2018 to 2024 due to increasing
tire demand in automobile & transportation industry.Rubber originates from
three different sources such as natural, synthetic, and reclaimed rubber.
Natural rubber is harvested in the form of latex from trees such as hevea
brasiliensis, congo, dandelion and others. It is a natural polymer consisting
of organic compound isoprene and water having water proof ability and high
resilience and stretch ratio. Synthetic rubber is elastomer polymers which are
mainly manufactured from petroleum byproducts. It has extensive application in
automobile & transportation industry for hoses, matting, tires, belts, etc.
It also finds its usage in other sector such as in industrial application, in
packaging, construction, electrical & electronics, and others such as HVAC,
oil & gas, bowling, etc.
Various rules
and regulation of the U.S government regarding emission of hazardous air
pollutants such as hexane, styrene, toluene, methanol etc. which is associated
with adverse health effects will hamper the rubber market growth. The other
factor that will encumber the growth of product market is volatility of oil
prices, and decreasing number of rubber plants.
On basis of
product, the rubber market is segmented as natural, synthetic, and reclaimed
rubber. Synthetic rubber is further classified into styrene butadiene (SBR),
butyl (BR), nitrile (NR), ethylene propylene diene (EPDM), silicone,
chloroprene polyurethane, fluorocarbon, and others such as acrylic,
epichlorohydrin, polysulfide, etc. Among all, the global product market
sharewill be led by synthetic segment, followed by reclaimed rubber. Further in
the synthetic segment, SBR will account for a substantial consumption and
production owing to use in the production of tires and other items required in
the automobile & transportation industry. The unique characteristics such
as excellent resistance against heat and generation of cracks, high abrasion,
and low rolling resistance will surge the use of SBR which will propel the
rubber market growth.
Based on
end-user, rubber market is classified as automobile & transportation,
industrial application, electrical & electronics, construction, packaging
and others which include HVAC, oil & gas, etc. Rising disposable income of
consumer will increase the sales of automotive which will propel the automobile
& transportation industry. This will lead to increase in demand for product
such as tires, tubes, belts, etc.; hence, escalating the growth of product
industry. The use of product in industrial applications as an insulating
material, adhesives, sealant, hoses, gaskets, etc. will upsurge the product
market growth.
On basis of product, the rubber market is segmented
as natural, synthetic, and reclaimed rubber. Synthetic rubber is further
classified into styrene butadiene (SBR), butyl (BR), nitrile (NR), ethylene
propylene diene (EPDM), silicone, chloroprene polyurethane, fluorocarbon, and
others such as acrylic, epichlorohydrin, polysulfide, etc. Among all, the
global product market share
will be led by synthetic segment, followed by
reclaimed rubber. Further in the synthetic segment, SBR will account for a
substantial consumption and production owing to use in the production of tires
and other items required in the automobile & transportation industry. The
unique characteristics such as excellent resistance against heat and generation
of cracks, high abrasion, and low rolling resistance will surge the use of SBR
which will propel the rubber market growth.
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