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The synthetic rubber manufacturing industry comprise establishments that primarily manufacture synthetic rubber, which is a polymer either produced from natural sources such as natural rubber or synthesized on an industrial scale.
The largest geographic markets by consumption in the synthetic rubber and fibers sector are Asia and the Americas. Asia was the largest region in the synthetic rubber and fibers market in 2016, accounting for more than 5% market share. 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.
Some companies are beginning to produce rubber from alternative sources due to the inconsistent rubber supply and volatile rubber prices. Bridgestone has developed a tire made of a rubber which is extracted from the Guayule plant.
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