Synthetic Rubber Market Size

Statistics for the 2023 & 2024 Synthetic Rubber market size, created by Mordor Intelligence™ Industry Reports. Synthetic Rubber size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Synthetic Rubber Industry

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Synthetic Rubber Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 33.48 Billion
Market Size (2029) USD 41.15 Billion
CAGR (2024 - 2029) 4.21 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

Synthetic Rubber Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Synthetic Rubber Market Analysis

The Synthetic Rubber Market size is estimated at USD 33.48 billion in 2024, and is expected to reach USD 41.15 billion by 2029, growing at a CAGR of 4.21% during the forecast period (2024-2029).

In 2020, COVID-19 negatively impacted the market. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.

  • The growth of the market is expected to be helped by the fact that more electric vehicles are being made.
  • On the other hand, the use of polyurethanes instead of synthetic rubber in some applications is likely to slow the growth of the market.
  • Future opportunities for the market could come from the development of bio-based feedstock for synthetic rubber and the growing demand for medical gloves.
  • Due to high demand from China, India, and Japan, Asia-Pacific has the largest market share and is likely to lead the market during the forecast period.

Synthetic Rubber Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)