Asia Pacific Synthetic Rubber Market Size, Share and Forecast to 2025
Posted by OMR Global on March 2nd, 2020
Asia Pacific synthetic rubber market is estimated to grow with lucrative growth during the forecast period. The high adoption of synthetic rubber in various applications is one of the chief factors for the growth of the market in the region. China, India, Thailand, Indonesia, Malaysia, Vietnam are among the top producer of natural and synthetic rubber all across the globe. Moreover, the region caters to the significant application of synthetic rubber including tires. As per the International Organization of Motor Vehicle Manufacturers, in Asia Pacific, more than 50 million vehicles were manufactures in the region. Moreover, India and China are among the largest two-wheeler industry globally. Additionally, the region is a hub for the manufacturing of consumer electronics which creates considerable demand for synthetic rubber in the region.
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Asia Pacific synthetic rubber market is divided based on type and end-user. By type, the market is further divided into Styrene Butadiene Rubber, Polybutadiene Rubber, Ethylene Propylene Rubber, Isoprene Rubber, and others. Due to significant demand for tires in the region, Styrene-Butadiene Rubber is expected to hold the largest market share during the forecast period. By end-user, the market is further segmented into automobile components, industrial application, footwear, household, and others. Automobile components will hold the largest market share in the region. Based on geography, the market is divided into China, Japan, India and the Rest of Asia Pacific. China is expected to hold a major market share during the forecast period. In the rest of Asia-Pacific region, South Korea and South-East Asian countries including Thailand, Indonesia, Malaysia, and Vietnam are expected to hold a considerable market share in the region.
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Asia Pacific Synthetic Rubber Market Segmentation
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