According to TechSci Research report, “China Synthetic Rubber Market –Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, the China Synthetic Rubber Market is anticipated to register a high CAGR during the forecast period. This can be ascribed to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market.
Market Trends
1. Utilization in Construction
The use of synthetic rubber in construction is a key driver for the market in China. Synthetic rubber’s elastic properties make it ideal for various construction applications due to its ability to withstand extreme temperatures, resist corrosion, and remain flexible under different conditions. Key advantages include:
- Water Resistance: Synthetic rubber materials are widely used for sealing applications, preventing water leakage and moisture ingress in various structures, enhancing the durability and integrity of buildings.
- Vibration Damping: Synthetic rubber absorbs shocks and dampens vibrations, which is crucial for reducing noise and ensuring stability and safety in construction.
- Flame Resistance: Certain synthetic rubbers, such as neoprenes and hypalons, exhibit flame-resistant properties, enhancing fire safety in buildings.
2. Application in the Textile Industry
Synthetic rubber plays a crucial role in the textile industry, particularly in rubber calendering, which enhances fabric durability, flexibility, and performance. Applications include:
- Rubber Hoses: Synthetic rubber, reinforced with fabrics, is used to create hoses resistant to wear, pressure, and chemical exposure, essential in textile processes like dyeing and weaving.
- Synthetic Fibers: The industry relies heavily on synthetic fibers, such as polyester, which are reinforced with rubber to offer superior strength and durability.
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Market Drivers
1. Innovation and Customization
Collaborations between synthetic rubber manufacturers and end-users, such as automotive companies, tire makers, and textile industries, foster innovation. These partnerships allow for the customization of products to meet specific requirements, expanding product offerings and applications.
2. Research and Development
Strategic alliances with research institutions, such as the EVE Rubber Institute’s agreements with Ecombine Advanced Materials and Arlanxeo High Performance Elastomer, aim to develop synthetic rubber applications specifically for tire manufacturing, driving market growth.
Market Challenges
1. Raw Material Price Fluctuations
Fluctuations in raw material prices pose a significant challenge to market growth. Manufacturers must manage costs effectively to maintain competitiveness.
Market Segmentation
The China synthetic rubber market is segmented by type, application, company, and region.
By Type
- Styrene Butadiene Rubber (SBR)
- Poly Butadiene Rubber (PBR)
- Styrene Butadiene Copolymer (SBC)
- Isoprene Rubber (IR)
- Others
By Application
- Transportation
- Construction
- Textile
- Medical
- Food & Beverage
- Others
Competitive Landscape
Major companies operating in the China synthetic rubber market include:
- Sinopec Corporation
- PetroChina Company Limited
- Shen Hua Chemical Industrial Co. Ltd.
- Huizhou LCY Elastomers Corp.
- Hangzhou Zhechen Rubber Co. Ltd.
- Ningbo Shunze Rubber Co. Ltd.
- Panjin Heyun Industrial Group Co. Ltd.
- Chi Mei Corporation
The China synthetic rubber market is poised for significant growth, driven by the construction and textile industries, innovation through collaborations, and strategic research and development initiatives. Despite challenges like raw material price fluctuations, the market offers substantial opportunities for growth and innovation. Companies must continue to innovate and adapt to changing market dynamics to stay competitive.
Some of the major companies operating in the China Synthetic Rubber Market include:
- Sinopec Corporation
- PetroChina Company Limited
- Shen Hua Chemical Industrial Co. Ltd.
- Huizhou LCY Elastomers Corp.
- Hangzhou Zhechen Rubber Co., Ltd.
- Ningbo Shunze Rubber Co., Ltd.
- Panjin Heyun Industrial Group Co., Ltd.
- Chi Mei Corporation
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“Certain regions, particularly the south-central region, are projected to exert significant demand for synthetic rubber in China. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhancing their synthetic rubber productivity each year, are expected to contribute to a remarkable growth of the China Synthetic Rubber Market in the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.
China Synthetic Rubber Market By Type (Styrene Butadiene Rubber (SBR), Poly Butadiene Rubber (PBR), Styrene Butadiene Copolymer (SBC), Isoprene Rubber (IR), Others), By Application (Transportation, Construction, Textile, Medical, Food & Beverage, Others), By Region, Competition, Forecast and Opportunities, 2018-2028F has evaluated the future growth potential of China Synthetic Rubber Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in China Synthetic Rubber Market.
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