As per Intent Market Research, the Synthetic Rubber Market was valued at USD 31.5 Billion in 2024-e and will surpass USD 42.7 Billion by 2030; growing at a CAGR of 5.2% during 2025 - 2030.
The synthetic rubber market is expanding due to its widespread applications across automotive, industrial, and consumer goods industries. Synthetic rubber offers superior durability, resistance to wear and tear, and enhanced performance compared to natural rubber, making it a preferred choice for tire manufacturing, industrial machinery, and specialty applications. Growing demand from the automotive and construction sectors, coupled with innovations in rubber formulations, is driving market growth.
Styrene-Butadiene Rubber (SBR) Is the Largest Segment Due to High Demand in Tire Manufacturing
Styrene-butadiene rubber (SBR) holds the largest share in the synthetic rubber market, primarily due to its extensive use in tire manufacturing. SBR provides excellent abrasion resistance, enhanced grip, and improved durability, making it a crucial material for high-performance and commercial vehicle tires. With the automotive industry focusing on fuel efficiency and sustainability, SBR-based tires are gaining traction due to their low rolling resistance and improved wet traction.
Moreover, regulatory initiatives promoting fuel-efficient and environmentally friendly tires have increased the demand for SBR. Leading tire manufacturers are continuously enhancing SBR formulations to achieve better performance, further solidifying its dominance in the synthetic rubber market.
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Non-Tire Automotive Segment Is the Fastest Growing Due to Expanding Vehicle Production
While tire manufacturing remains the dominant application, the non-tire automotive segment is experiencing the fastest growth, driven by the increasing use of synthetic rubber in seals, hoses, gaskets, and vibration-dampening components. As vehicle production rises globally and automakers focus on lightweight materials to improve fuel efficiency, synthetic rubber is increasingly being adopted for under-the-hood applications.
The shift toward electric vehicles (EVs) has also contributed to the rising demand for synthetic rubber in battery pack insulation, cable coverings, and noise reduction components. Innovations in high-performance rubber materials designed for extreme temperatures and high durability are further accelerating growth in this segment.
Automotive Industry Is the Largest End-User Due to High Dependency on Synthetic Rubber
The automotive industry remains the largest end-user of synthetic rubber, owing to its critical role in tire production and vehicle component manufacturing. With the increasing production of passenger and commercial vehicles, the demand for high-performance synthetic rubber materials continues to rise. The push for sustainable and energy-efficient mobility solutions has further encouraged automakers to use advanced synthetic rubber formulations to enhance fuel economy and reduce carbon emissions.
Furthermore, the rise in global vehicle ownership, especially in emerging markets, has amplified the need for synthetic rubber-based products. Leading automakers are collaborating with material suppliers to develop innovative rubber compounds with enhanced durability and environmental benefits.
Asia-Pacific Is the Largest Market Due to Strong Automotive and Industrial Sectors
Asia-Pacific dominates the synthetic rubber market, driven by rapid industrialization, a booming automotive industry, and increasing infrastructure projects. Countries like China, India, and Japan are major hubs for tire manufacturing and vehicle production, fueling the demand for synthetic rubber. Additionally, growing investments in construction and industrial manufacturing have further strengthened the region’s market position.
Government initiatives supporting domestic rubber production and foreign investments in tire manufacturing facilities have also contributed to Asia-Pacific’s leadership in the synthetic rubber market. With rising disposable incomes and urbanization, the demand for consumer goods, footwear, and industrial products utilizing synthetic rubber is expected to grow further.
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Competitive Landscape and Key Players
The synthetic rubber market is highly competitive, with key players such as ExxonMobil, The Goodyear Tire & Rubber Company, Lanxess AG, Kumho Petrochemical, and Sinopec Corporation leading the industry. Companies are investing in advanced rubber formulations, sustainable production techniques, and high-performance elastomers to meet evolving industry demands. Strategic partnerships, capacity expansions, and innovations in bio-based synthetic rubber are shaping the market dynamics.
With increasing regulatory pressures and sustainability concerns, market leaders are focusing on developing eco-friendly synthetic rubber alternatives. Advancements in tire technology, along with the growing adoption of synthetic rubber in diverse applications, will continue to drive the market’s long-term growth.
List of Leading Companies:
- Arlanxeo Holding B.V.
- Sinopec Corporation
- JSR Corporation
- Dow Inc.
- ExxonMobil Corporation
- LG Chem Ltd.
- Zeon Corporation
- Kumho Petrochemical Co., Ltd.
- LANXESS AG
- Versalis S.p.A.
- Trinseo S.A.
- Goodyear Tire & Rubber Company
- Kraton Corporation
- Nizhnekamskneftekhim PJSC
- TSRC Corporation
Recent Developments:
- Arlanxeo Holding B.V. introduced a new high-performance synthetic rubber for EV tires in February 2025.
- Sinopec Corporation expanded its production capacity for styrene-butadiene rubber to meet rising demand in January 2025.
- JSR Corporation launched an eco-friendly synthetic rubber alternative aimed at sustainable tire manufacturing in December 2024.
- Dow Inc. partnered with an automotive giant to develop lightweight synthetic rubber materials for fuel efficiency in November 2024.
- ExxonMobil Corporation unveiled a new nitrile rubber product for high-temperature industrial applications in October 2024.
Report Scope:
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Report Features |
Description |
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Market Size (2024-e) |
USD 31.5 Billion |
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Forecasted Value (2030) |
USD 42.7 Billion |
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CAGR (2025 – 2030) |
5.2% |
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Base Year for Estimation |
2024-e |
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Historic Year |
2023 |
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Forecast Period |
2025 – 2030 |
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Report Coverage |
Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments |
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Segments Covered |
Synthetic Rubber Market By Type (Styrene-Butadiene Rubber (SBR), Polybutadiene Rubber (PBR), Ethylene Propylene Diene Monomer (EPDM), Nitrile Butadiene Rubber (NBR), Butyl Rubber (IIR)), By Application (Tire Manufacturing, Non-Tire Automotive, Industrial Goods, Footwear, Consumer Goods), By End-User (Automotive Industry, Construction, Aerospace, Electronics, Healthcare) |
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Regional Analysis |
North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa) |
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Major Companies |
Arlanxeo Holding B.V., Sinopec Corporation, JSR Corporation, Dow Inc., ExxonMobil Corporation, LG Chem Ltd., Kumho Petrochemical Co., Ltd., LANXESS AG, Versalis S.p.A., Trinseo S.A., Goodyear Tire & Rubber Company, Kraton Corporation, TSRC Corporation |
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Customization Scope |
Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements |
Frequently Asked Questions
The Synthetic Rubber Market was valued at USD 31.5 Billion in 2024-e and is expected to grow at a CAGR of 5.2% of over from 2025 to 2030.
Growth in the automotive industry, increasing demand for durable tires, and advancements in rubber processing drive the market.
Synthetic rubber offers better heat resistance, durability, and chemical stability compared to natural rubber.
The automotive, construction, aerospace, and electronics industries are major consumers.
Volatility in raw material prices, environmental concerns, and competition from natural rubber impact market growth.
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1. Introduction |
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1.1. Market Definition |
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1.2. Scope of the Study |
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1.3. Research Assumptions |
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1.4. Study Limitations |
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2. Research Methodology |
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2.1. Research Approach |
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2.1.1. Top-Down Method |
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2.1.2. Bottom-Up Method |
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2.1.3. Factor Impact Analysis |
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2.2. Insights & Data Collection Process |
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2.2.1. Secondary Research |
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2.2.2. Primary Research |
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2.3. Data Mining Process |
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2.3.1. Data Analysis |
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2.3.2. Data Validation and Revalidation |
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2.3.3. Data Triangulation |
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3. Executive Summary |
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3.1. Major Markets & Segments |
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3.2. Highest Growing Regions and Respective Countries |
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3.3. Impact of Growth Drivers & Inhibitors |
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3.4. Regulatory Overview by Country |
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4. Synthetic Rubber Market, by Type (Market Size & Forecast: USD Million, 2023 – 2030) |
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4.1. Styrene-Butadiene Rubber (SBR) |
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4.2. Polybutadiene Rubber (PBR) |
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4.3. Ethylene Propylene Diene Monomer (EPDM) |
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4.4. Nitrile Butadiene Rubber (NBR) |
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4.5. Butyl Rubber (IIR) |
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4.6. Others |
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5. Synthetic Rubber Market, by Application (Market Size & Forecast: USD Million, 2023 – 2030) |
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5.1. Tire Manufacturing |
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5.2. Non-Tire Automotive |
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5.3. Industrial Goods |
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5.4. Footwear |
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5.5. Consumer Goods |
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5.6. Others |
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6. Synthetic Rubber Market, by End-User (Market Size & Forecast: USD Million, 2023 – 2030) |
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6.1. Automotive Industry |
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6.2. Construction |
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6.3. Aerospace |
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6.4. Electronics |
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6.5. Healthcare |
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6.6. Others |
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7. Regional Analysis (Market Size & Forecast: USD Million, 2023 – 2030) |
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7.1. Regional Overview |
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7.2. North America |
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7.2.1. Regional Trends & Growth Drivers |
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7.2.2. Barriers & Challenges |
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7.2.3. Opportunities |
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7.2.4. Factor Impact Analysis |
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7.2.5. Technology Trends |
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7.2.6. North America Synthetic Rubber Market, by Type |
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7.2.7. North America Synthetic Rubber Market, by Application |
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7.2.8. North America Synthetic Rubber Market, by End-User |
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7.2.9. By Country |
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7.2.9.1. US |
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7.2.9.1.1. US Synthetic Rubber Market, by Type |
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7.2.9.1.2. US Synthetic Rubber Market, by Application |
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7.2.9.1.3. US Synthetic Rubber Market, by End-User |
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7.2.9.2. Canada |
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7.2.9.3. Mexico |
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*Similar segmentation will be provided for each region and country |
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7.3. Europe |
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7.4. Asia-Pacific |
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7.5. Latin America |
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7.6. Middle East & Africa |
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8. Competitive Landscape |
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8.1. Overview of the Key Players |
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8.2. Competitive Ecosystem |
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8.2.1. Level of Fragmentation |
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8.2.2. Market Consolidation |
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8.2.3. Product Innovation |
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8.3. Company Share Analysis |
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8.4. Company Benchmarking Matrix |
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8.4.1. Strategic Overview |
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8.4.2. Product Innovations |
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8.5. Start-up Ecosystem |
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8.6. Strategic Competitive Insights/ Customer Imperatives |
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8.7. ESG Matrix/ Sustainability Matrix |
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8.8. Manufacturing Network |
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8.8.1. Locations |
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8.8.2. Supply Chain and Logistics |
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8.8.3. Product Flexibility/Customization |
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8.8.4. Digital Transformation and Connectivity |
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8.8.5. Environmental and Regulatory Compliance |
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8.9. Technology Readiness Level Matrix |
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8.10. Technology Maturity Curve |
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8.11. Buying Criteria |
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9. Company Profiles |
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9.1. Arlanxeo Holding B.V. |
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9.1.1. Company Overview |
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9.1.2. Company Financials |
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9.1.3. Product/Service Portfolio |
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9.1.4. Recent Developments |
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9.1.5. IMR Analysis |
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*Similar information will be provided for other companies |
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9.2. Sinopec Corporation |
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9.3. JSR Corporation |
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9.4. Dow Inc. |
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9.5. ExxonMobil Corporation |
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9.6. LG Chem Ltd. |
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9.7. Zeon Corporation |
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9.8. Kumho Petrochemical Co., Ltd. |
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9.9. LANXESS AG |
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9.10. Versalis S.p.A. |
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9.11. Trinseo S.A. |
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9.12. Goodyear Tire & Rubber Company |
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9.13. Kraton Corporation |
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9.14. Nizhnekamskneftekhim PJSC |
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9.15. TSRC Corporation |
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10. Appendix |
A comprehensive market research approach was employed to gather and analyze data on the Synthetic Rubber Market . In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Synthetic Rubber Market The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.
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Secondary Research
Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.
Primary Research
Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:
- Validating findings and assumptions derived from secondary research
- Gathering qualitative and quantitative data on market trends, drivers, and challenges
- Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
- Assessing the supply-side landscape, including technological advancements and recent developments
Market Size Assessment
A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Synthetic Rubber Market These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:
- Identification of key industry players and relevant revenues through extensive secondary research
- Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
- Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources
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Data Triangulation
To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.