Synthetic Rubber: A Global Strategic Business Report
San Jose, Calif. (PRWEB) October 22, 2008
A strong global economy and emerging economies-driven growth in auto industry is fueling consumption of rubber. China, Japan and US continue to be the leading consumers of rubber worldwide. China, in particular, is the epicenter of growth, owing to robust growth in domestic manufacture of industrial goods and motor vehicles. However, strong growth witnessed in the first half of the decade is portended to slow down, as motor vehicular production decelerates and market matures.
Rising demand for industrial rubber products is expected to uphold the market for rubber in China. Other regions in Asia-Pacific are also expected to clock significant growth in consumption, owing to healthy economic growth, growing vehicular production and increasing number of tire manufacturing plants. Heavy competition from countries with lower material and labor costs, along with weakening motor vehicle industry would generate nominal gains for markets in Western Europe, North America and Japan.
Consumption of synthetic rubber worldwide is expected to reach close to 15 million metric tons by 2012, as stated by Global Industry Analysts, Inc. Asia-Pacific region (excluding Japan) is the largest market for synthetic rubber, accounting for a share of over 37%, followed by Europe with 29%. Asia-Pacific is also expected to offer the highest growth potential, with a CAGR of about 9.28% through the period 2001-2010, followed by Latin America. China is the largest market within Asia, accounting for about 70% of Asian consumption. Japan and Europe are expected to offer relatively slower growth opportunities. Styrene butadiene rubber represents the largest synthetic rubber segment, followed by polybutadiene rubber. Consumption of styrene butadiene rubber is expected to reach about 6.7 million metric tons by 2015.
Synthetic rubber production was estimated at over 13 million tons in 2007. The market witnessed a shift in production to developing markets in Central Europe, Latin America, and Asia from developed, high-cost markets such as North America and Europe. Major producers of synthetic rubber include Asahi Kasei, Denki Kagaku Kogyo, Dow Chemical, DSM Elastomers, DuPont Performance Elastomers, ExxonMobil, Goodyear, ISP Elastomers, Korea Kumho Petrochemical Company, SINOPEC, Lanxess, Polimeri Europa, Japan Synthetic Rubber, Taiwan Synthetic Rubber Corporation, Tosoh Corporation, UBE Industries Ltd, Zeon Corporation, and Zeon Chemicals among others.
The report titled "Synthetic Rubber: A Global Strategic Business Report" published by Global Industry Analysts, Inc., offers comprehensive insights into the economic fundamentals of the industry, and highlights market drivers, challenges, and trends, in addition to outlining the changing competitive landscape. Discussions on capacities of major producing countries and manufacturers provide a complete outlook of the market. The report analyzes market data and analytics in volume sales for regions such as the United States, Canada, Japan, Europe, Asia-Pacific, Latin America and the Middle East. The study also analyzes the synthetic rubber market by the following product segments - styrene-butadiene rubber, polybutadiene rubber, ethylene propylene rubber, polychloroprene rubber, nitrile rubber, polyisoprene rubber, and other synthetic rubber.
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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