The Global Synthetic Rubber And Fibers Market Is Expected To Grow To 8 Billio

Posted by ananth on July 16th, 2018

The synthetic rubber manufacturing industry comprises of 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 fiber manufacturing industry comprises of establishments which primarily manufacture and texturize cellulosic (e.g., rayon, acetate) and non-cellulosic (e.g., nylon, polyolefin, polyester) fibers and filaments in the form of monofilaments, filament yarns, staples, or tow. 

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The reasons for the substantial growth of the market from .4 billion in 2017 to 8 trillion by 2021 are due to the economic growth and economic growth and increased use of technology.

In the report, the global synthetic rubber and fibers market is divided into five segments. Synthetic fibers occupy around two-fifth of the market share. Styrene butadiene rubberwas the second-largest segment accounting for 30% of the total market. Other segments occupy the remaining share of the market.

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Asia Pacific was the largest country in the synthetic rubber and fibers market in 2017, accounting for almost half of the market share. This was mainly because of the rising demand for synthetic rubber and fibers owing to the huge population in China.

The synthetic rubber and fibers market is fragmented with a number of small organizations. The top five competitors in the market made up 29.6% of the total market in 2017. DOW was the largest competitor, followed by Owens Corning, KUMHO Petrochemical, Teijin, Ltd. and TSRC Corporation. Dow Chemical Company was the largest company in the synthetic rubber and fibers market in 2017. It is involved in various businesses; some of its important businesses are in agriculture, automotive, building and construction, consumers, electronic materials and industrial products.

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