Synthetic Rubber Market Growth is Driven by Expansion of Product Portfolio and Innovations [2017-2022]
Synthetic Rubber Market is estimated to be USD 28.88 Billion in 2017 and is projected to reach USD 37.82 Billion by 2022, registering a CAGR of 5.5% between 2017 and 2022. Rising use of synthetic rubbers in the tire and non-tire automotive applications, growing trend of using synthetic rubbers in automotive to reduce the weight of vehicles for fuel efficiency, and increasing demand from Asia Pacific are the major factors expected to drive the global synthetic rubber market. Download PDF : https://www.marketsandmarkets.com/pdfdownload.asp?id=761 Tire - Fastest-growing application segment The consumption of synthetic rubber in the tire application is growing due to the rising demand for automobiles in developing countries. The exponential growth of the automotive industry in China has supported the growth of the country’s tire industry. The rapidly growing automotive and transportation industries in countries like China and India are expected to propel the growth of the