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The synthetic rubber manufacturing industry is comprised of establishments which primarily manufacture synthetic rubber, which is a polymer either produced from natural sources such as natural rubber or synthesized on an industrial scale. Synthetic rubber is an artificial elastomer which is produced via the polymerization of a variety of petroleum-based monomers. Styrene butadiene rubber (SBR) is the most prevalent synthetic rubber.
The largest market segments in the chemicals sector as of 2015 were petrochemicals, plastics materials and resin and general chemicals products.
Asia was the largest geographic market in the synthetic rubber and fibers industry in 2015, accounting for $XX billion or XX% of the global market. This was due to continued growth in the automotive industry which resulted in an increase in tire manufacturing. Moreover, the rapidly expanding footwear market catering to highly populated regions has led to a rise in demand of synthetic rubber and fibers. The Americas was the second-largest geographic market, accounting for $XX billion or XX% of the global market. Europe was the third-largest geographic market, accounting for $XX billion or XX% of the global market.
Global per capita synthetic rubber and fibers consumption grew from $XX in 2011 to $XX in 2015 at a CAGR of XX% and is expected to grow to $XX in 2019 at a CAGR of XX%. Per capita consumption is increasing because of an increasing number of vehicles per capita, an increased consumption of industrial goods and adhesives, and the expanding consumer base of the footwear industry.
Increased demand for lightweight and fuel efficient materials or advanced composite materials is increasing the need for synthetic fibers. Synthetic fibers made from polymer aromatic polyamide are mainly of two types, para aramid and meta aramid. Aramids, UHME polyethylene, and POA are the major types of specialty synthetic fibers. Marine, medical, sporting goods, pressure vessel, and reinforcement materials industries are the other significant applications for the specialty synthetic fiber market.
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