Market Size of Liquid Synthetic Rubber Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.72 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Liquid Synthetic Rubber Market Analysis
The Global Liquid Synthetic Rubber Market size is expected to grow from USD 15.87 billion in 2023 to USD 19.99 billion by 2028, at a CAGR of 4.72% during the forecast period (2023-2028).
COVID-19 negatively impacted the market in 2020-2021. Considering the pandemic scenario, automotive manufacturing activities were temporarily stopped during the government-imposed lockdown to curb the spread of new COVID-19 cases, thereby reducing the demand for liquid synthetic rubber-based automotive parts such as tires, drive belts, seals, gaskets, hoses, tank linings, and others. However, the market is expected to regain its growth trajectory in 2023 and is likely to follow a similar trajectory during the forecast period.
- Over the short term, the rising demand from the adhesive segment is expected to drive the market's growth.
- On the flip side, fluctuating raw material prices are expected to hinder the market growth.
- Developing bio-based feedstock for synthetic rubber will likely act as an opportunity during the forecast period.
