Booming Footwear Industry to Propels Growth of Synthetic Rubber Market

Synthetic Rubber is a common material found in shoes and boots. The sole of footwear is more than likely the place where synthetic rubber find application. Synthetic rubber is a polymer with a wide range of applications, some of which natural rubber cannot match, it's other benefit is that it costs less to produce than natural rubber. While natural rubber comes from a tree, synthetic rubber is produced from a range of chemical processes. When it comes to shoes, the difference is between the two is both rubbers can be vulcanized to increase durability, the biggest difference is the cost of production and a wide variety of options to meet the increasing demand therefore, cheaper footwear brands tend to use synthetic rubber.


Synthetic Rubber Market is estimated to be USD 28.88 Billion in 2017 and is projected to reach USD 37.82 Billion by 2022, at a CAGR of 5.5% between 2017 and 2022. 

The key companies in the Synthetic Rubber Market include: 

  • LANXESS (Germany)
  • Sinopec (China)
  • The Goodyear Tire and Rubber Company (US)
  • Kumho Petrochemical (South Korea)
  • TSRC Corporation (Taiwan)
  • Nizhnekamskneftekhim (Russia)
  • JSR Corporation (Japan)
  • LG Chem (South Korea)
  • Versalis S.p.A. (Italy)
  • ZEON Corporation (Japan)


Unstable Prices of Natural Rubber Incites Growth

Synthetic rubber is an artificial elastomer which is a polymer developed as a replacement to traditional rubber. Consumers are changing their preference from natural rubber to synthetic rubber as the price fluctuation of natural rubber hinders the profit margin of manufacturers. Rising demand in footwear market are the factors driving for global synthetic rubber market. Synthetic rubber is harmful for nature as it is not a bio degradable substance and pollute the environment very adversely. 

Asia Pacific is estimated to be the largest market for synthetic rubber by 2022. China is the major country in this region. The growth of Asia pacific is due to increase in the population, as population drives the demand for synthetic rubber applications. Rest of the world shows a fast growth in this market due to present of rubber manufacturing units, footwear industries and population rises the global market in this region. North America is also a growing market due to industrialization and rising demand for rubber application drives the North America market for global synthetic rubber market. 

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  1. chemicalmarkets123January 4, 2018 at 2:16 AM

    Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=761

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