Synthetic Rubber Market: Introduction
Transparency Market Research delivers key insights on the global synthetic rubber market. In terms of revenue, the global synthetic rubber market is estimated to expand at a CAGR of 5.1% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global synthetic rubber market.
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The global synthetic rubber market is broadly affected by several factors, including application of synthetic rubber in footwear, industrial goods, asphalt overlay, tires, and adhesives. The expanding application of tires is propelling the demand for synthetic rubber across the globe.
Synthetic Rubber Market: Dynamics
Both fragmented and competitive, the global synthetic rubbers market is choc-o-bloc with large, medium, and small players. In order to beat competition in such a cutthroat environment, deep-pocketed players are seen increasing spends on research and development to launch better products. They are also banking heavily on an agile supply chain and proactive marketing and advertising. In order to grow, they are looking to foray into high growth markets in developing economies of the world through carefully-considered mergers and acquisitions.
All such initiatives by players are expected to have a positive impact on the global synthetic rubber market. Besides this, high cost of natural rubbers, owing to their depleting plantations across the world is another factor providing tailwinds to the global synthetic rubber market. Thus, to meet the rising demand from automobiles and construction sectors, cheaper synthetic rubbers have emerged as a viable alternative.
Synthetic Rubber Market: Prominent Regions
At present, Asia Pacific accounts for the leading share of the global synthetic rubber market. It is likely to hold on to its leading share during the forecast period. The growth of the market is mainly powered by the fastest growing economies in the region: China and India. Malaysia is another major consumer of rubber in the region.
Burgeoning construction sector and increase in infrastructure projects are expected to have a positive impact on the market in Asia Pacific. The soaring demand for green tires is predicted to positively influence the market in the near term.
Asia Pacific leads with respect to the production in the global synthetic rubber market. China-based petroleum and chemical company, Sinopec, is one of the world’s largest synthetic rubber production facilities.
The synthetic rubber market in Middle East & Africa and North America is also predicted to expand at a steady pace over the next couple of years due to growing construction activities and car sales in these regions.
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Synthetic Rubber Market: Major Players
The global synthetic rubber market is consolidated with the presence of key players. Prominent players operating in the global synthetic rubber market include Asahi Kasei Corporation, The Dow Chemical Company, DuPont, LANXESS AG, Exxon Mobil Corporation, Dynasol Elastomers S.A., TSRC Corporation, Versalis S.p.A., Sumitomo Chemical Co., Ltd., KUMHO PETROCHEMICAL, China National Petroleum Corporation (CNPC), and China Petroleum & Chemical Corporation (Sinopec Corporation).
Unsaturated Polyester Resins Market: Introduction
Transparency Market Research delivers key insights on the global unsaturated polyester resins market. In terms of revenue, the global unsaturated polyester resins market is estimated to expand at a CAGR of 5% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecast in its report on the global unsaturated polyester resins market.
The global unsaturated polyester resins market is broadly affected by several factors, including increase in usage of unsaturated polyester resins in various end-uses such as transport, resins, tanks, pipes, pipe re-lining, and building & construction. The rise in global demand for consumer electronics and automotive & transportation has led to significant increase in the usage of unsaturated polyester resins.
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Increase in production and demand for electronics is expected to be a major driver of the global unsaturated polyester resins market. Moreover, the surge in demand for pipe re-lining and building & construction end-use is propelling the unsaturated polyester resins market.
Unsaturated Polyester Resins Market: Major Players
The global unsaturated polyester resins market is consolidated with the presence of key players. Prominent players operating in the global unsaturated polyester resins market include Polynt-Reichhold Group, Ashland Inc., Royal DSM, AOC, BASF SE, U-Pica Company Ltd., UPC Technology Corp., Nuplex Industries Ltd., and Scott Bader Company Ltd.
Unsaturated Polyester Resins Market: Prominent Regions
In terms of region, the Asia Pacific is likely to account for a notable share of the global unsaturated polyester resins market. Asia Pacific is also projected to emerge as one of the regional markets that offers significant opportunities. Rapid increase in applications in different end-use sectors such as construction & building, marine, and automotive is likely to drive the market in Asia Pacific.
Various nations, particularly China, have increased their ability to produce these polymers in the past few years. A significant driver boosting the regional market is the rising sale of unsaturated polyester resin-based composites in numerous end-use sectors.
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Global Unsaturated Polyester Resins Market: Segmentation
Unsaturated Polyester Resins Market, by Product Type
- Orthophthalic Resins
- Isophthalic Resins
- Dicyclopentadiene (DCPD) Resins
Unsaturated Polyester Resins Market, by End-use
- Electrical, Transport
- Artificial Stone/Marble
- Resins
- Tanks
- Pipes
- Scrubbers
- Pipe re-lining
- Building & Construction
Unsaturated Polyester Resins Market: Dynamics
The extensive use of unsaturated polyester resins in making various useful composite polymers, notably fiber–reinforced plastics, is a key factor propelling their demand in various regions. The demand for polyester resins is considerably high for making tanks, pipes, automotive parts, fire-resistant electrical equipment, and printed circuit boards, synthetic marbles, solid-surface countertops, and gelcoats. This can be attributed to the excellent structural properties of these resins, which lends remarkable thermal stability and a host of favorable mechanical properties.
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In several emerging economies, rising demand for polyester resins in various end-use industries is boosting the market. Low cost and easy processing of unsaturated polyester resins, coupled with the growing number of specialty applications in a wide spectrum of end-use industries, are key factors that are likely to propel the market in the near future.
Manufacturers are focusing on building & construction as the share held by this segment of the unsaturated polyester resins market is likely to increase during the forecast period.
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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