Synthetic Rubber Market to Reach USD 36,761.9 Million by 2027

The global synthetic rubber market size is expected to gain momentum from the rising inclination of people from natural rubber to artificial rubber. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Synthetic Rubber Market, 2020-2027.” The report further states that the global market size was USD 30,396.8 million in 2019. It is projected to reach USD 36,761.9 million by 2027, exhibiting a CAGR of 3.2% during the forecast period. Nowadays, several companies are striving persistently to introduce innovative synthetic rubbers to cater to the high demand. In March 2019, for instance, Trinseo unveiled SPRINTANTM 918S, a new grade of Solution Styrene Butadiene Rubber (S-SBR) at the Tire Technology Expo, Germany.

COVID-19 Pandemic to Affect Growth Fueled by Closure of Assembly Plants in U.S.

As the automotive industry is the largest user of this type of rubber, it is experiencing a declining demand because of the COVID-19 pandemic. It is occurring as a result of the disruptions in supply chain networks and the temporary closure of assembly plants, especially in the U.S. We are offering authentic research reports to help you choose the best strategy for overcoming the current situation.