Liquid Synthetic Rubber Market is attributed mainly to the expanding automotive sector

Liquid Synthetic Rubber Market is attributed mainly to the expanding automotive sector

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Jan 06, 2021 (Market Insight Reports) —

Global Market Insights, Inc. says that liquid synthetic rubber market growth is attributed mainly to the expanding automotive sector. The global liquid synthetic rubbers market has been subject to a stringent regulatory landscape across various countries.

Synthetic rubber plays a vital role in delivering several essential goods to the market and has been competing against the demand for natural rubber for quite some time. Innovations carried out in the liquid synthetic rubber market in recent years have led to experts predicting a decline in the requirement for natural rubber. Even the automotive industry has shifted gears and is more inclined toward synthetic rubber.

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Natural rubbers are known to have higher heat resistance over synthetic rubbers. However, researchers have learned that synthetic rubber is capable of outperforming natural rubber. For instance, recently in 2019, the Fraunhofer Institutes for Applied Polymer Research in Germany developed a Biomimetic Synthetic Rubber or BISYKA.

It has been revealed that BISYKA tires are able to achieve 30 to 50% less abrasion than natural rubber and have only half of its tread loss. These promising results of BISYKA are likely to encourage other players in liquid synthetic rubber industry to explore further and come up with innovative products.

On the other hand, in 2019, China imposed anti-dumping duties on synthetic rubber imports from US, EU and Singapore to support domestic players. As the trend carried forward, the demand for liquid synthetic rubber across the APAC region will observe an upsurge.

Stalled trades in the worldwide have led to a decline in demand for synthetic rubber manufacturers. Manufacturers that use synthetic rubber around the world are facing production cuts due to the lockdown. Car and tire manufacturers like Goodyear, Michelin, Ceat, Apollo, BMW, Ford, General Motors have either significantly reduced operating rates or shuttered facilities which has indirectly impacted the demand for synthetic butadiene rubber.

Major key players in the liquid synthetic rubber market include Efremov Synthetic Rubber, Evonik Industries AG, Synthomer PLC, Kuraray Co., Ltd., Asahi Kasei, Nippon Soda Co., Ltd, HB Fuller, ARLANXEO Holding B.V, SIBUR International GmbH.

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COMTEX_377322577/2599/2021-01-06T19:11:15

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The MarketWatch News Department was not involved in the creation of this content.



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