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Wednesday, January 26, 2022

Asia-Pacific dominates synthetic rubber market, says study

German business analyst consultancy Ceresana has published a detailed market study on the global synthetic rubber market.

The document – ‘Market Study: Synthetic Rubber’ – covers styrene butadiene rubber (SBR), polybutadiene rubber (BR), acrylonitrile butadiene rubber (NBR), butyl rubber (IIR), ethylene propylene diene rubber (EPDM), polychloroprene rubber (CR) and polyisoprene rubber (IR).

According to the report’s authors their study “provides a basis for the strategic and operational planning for producers, processors and traders”.

They added that currently the most important type of rubber is SBR – in 2012, more than 5.4 million tonnes were processed. The second most important product is BR, which accounted for about a quarter of global market volume that year. Major application area for both types of rubber is the production of tires, accounting for almost 70% of consumption.

By region Asia-Pacific dominate the market, said Ceresana chief executive Oliver Kutsch. “In 2012, Asia-Pacific accounted for about half of global rubber consumption and roughly 47% of global output,” he explained. North America ranked second, closely followed by Western and Eastern Europe.

Market analysts at Ceresana expect countries in Asia-Pacific to continue to gain market shares. Among the most influential factors are the automobile industry as well as demand for industrial products and construction material.

Source: prw.com

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