Synthetic rubber is chemically manufactured elastomer which is produced by the polymerization of two or more petroleum-derived monomers. Synthetic rubber plants were built after 1945 and since then it has maintained the lead over natural rubber. Polybutadiene rubber (BR) and Styrene Butadiene Rubber (SBR) are the two most important types of synthetic rubber and Butadiene is the primary feedstock for its production. Industrial players of synthetic rubber operate in the marketplace on the basis of low manufacturing cost, quality, technology and most importantly price to stay ahead.
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The synthetic rubber industry produces a variety of products that are used by the fabrication industries. Most of the output of synthetic rubber industry is taken up by tire industries thus categorizing this industry as one of the predominant users of synthetic rubber. Apart from tires, synthetic rubber has applications in various segments like shoes soles, high-speed railway, aviation etc.
The key factors driving the growth of the synthetic rubber industry include accelerating automotive industry, technological advancement and slump in raw material prices. Some of the noteworthy trends and developments in this industry are increasing demand for high performance material, declining prices, rigorous competition and improved supply. However, the expansion of global synthetic rubber industry is hindered by rising environmental concerns and depletion of fossil fuels.
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The report “Global Synthetic Rubber Market” provides an in-depth analysis of the production, consumption and capacity of global synthetic rubber market with focus on its segments including: Polybutadiene rubber and Styrene Butadiene Rubber. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The four major players in the industry, Lanxess, Good Year, Kumho Petrochemical Co. and Exxon Mobil Corp are being profiled.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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