Global and China Synthetic Rubber Industry Report, 2021-2027 – Press Release

New York, March 23, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global and China Synthetic Rubber Industry Report, 2021-2027” – https://www.reportlinker.com/p06246596/?utm_source=GNW
The seven categories have been utilized most for industrial purposes, including SBR, BR, CR, NBR, EPR, IIR and IR. Merited by high elasticity, insulation, air tightness, oil resistance, low/high temperature resistance and other properties, synthetic rubbers found wide application in industrial production, agriculture, national defense, transportation and people’s daily life.

Impacted by COVID-19, global economies suffer setbacks, so does the market of synthetic rubber whose production and sales registered 14,413 kt and 14,223 kt respectively in 2020, down 4.2% and 6.1% on an annualized basis. As the Pandemic gets eased, global synthetic rubber production and consumption will rebound steadily from 2022 to 2024, and then show fluctuations, with still an anticipated balance between supply and demand. Till 2027, production and consumption of synthetic rubbers will hopefully reach 17,690 kt million tons and 17,630 kt respectively.

Asia is the largest synthetic rubber production and consumption region around the globe, where synthetic rubber production and demand in 2020 were 8.365 million tons and 8.5 million tons separately, holding approximately 58.0% and 60.0% of global production and demand, while synthetic rubber production and demand in Europe were 3,645 kt and 3,160 kt separately as a percentage of about 25.3% and 22.2% of global total respectively. Synthetic rubber production and demand in the Americas were 2,403 kt and 2,420 kt, commanding about 16.7% and 17.0% of global total, respectively.

China is the world’s largest producer and consumer of synthetic rubber, with production up 9.7% year on year to 8,117 kt in 2021.

Despite the sizable production at home, Chinese synthetic rubber still cannot meet the market demand, with heavy reliance on imports. In 2020, China imported around 7,114 kt of synthetic rubbers and exported roughly 446 kt, indicating the net import up to 6,668 kt.

The Chinese synthetic rubber market tends to be highly market-oriented and intensely competitive among enterprises. Participants in the industry include both large state-owned enterprises such as Sinopec and CNPC, as well as SMEs like Blue Star New Chemical Material, Tianli High&Newtech, Qixiang Tengda and Zhejiang Longsheng. In 2020, the synthetic rubber output of Sinopec and CNPC reached 1,067 kt and 1,001 kt respectively, with market shares of 14.4% and 13.5% (by production).

Global and Chinese Synthetic Rubber Industry Report, 2021-2027 highlights the following:
Global synthetic rubber market supply and demand, product structure, regional structure, development trend, etc.
China synthetic rubber market supply and demand, import and export, product structure, regional structure, enterprises layout, development trend, etc.
Supply and demand, import and export, enterprises layout of major market segments of Chinese synthetic rubbers that include BR, SBR, IIR, EPR and NBR.
Market development of main raw materials for synthetic rubber such as butadiene, styrene and rubber additives in China.
Global and Chinese market growth of tires (main consumer of synthetic rubber), etc.
19 key synthetic rubber companies in China (business, development strategies, etc.)
Read the full report: https://www.reportlinker.com/p06246596/?utm_source=GNW

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