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レポート概要
| 本調査レポートでは、合成ゴムの世界市場について調査・分析を行い、イントロダクション、調査手法、エグゼクティブサマリー、市場動向、種類別（SBR、EPDM、IR、BR、その他）分析、用途別（タイヤ＆タイヤ部品、履物、工業製品、その他）分析、地域別分析、競争状況、市場機会・未来動向などを掲載しています。 ・イントロダクション ・調査手法 ・エグゼクティブサマリー ・市場動向 ・合成ゴムの世界市場規模：種類別（SBR、EPDM、IR、BR、その他） ・合成ゴムの世界市場規模：用途別（タイヤ＆タイヤ部品、履物、工業製品、その他） ・合成ゴムの世界市場規模：地域別 ・競争状況 ・市場機会・未来動向 |
The synthetic rubber market size was valued at over 15.5 million ton in 2020, and the market is projected to register a CAGR of more than 5% in terms of volume during the forecast period (2021-2026).
Synthetic rubber market growth is hampered by the COVID-19 pandemic, as lockdowns, social distances, and trade sanctions have triggered massive disruptions to global supply chain networks. A delay in farming operations and latex collection, on the other hand, further compounded the problem. Crucial inputs such as carbon black and rubber chemicals were in short supply due to disruption of global economic activities and import restrictions. Major tire manufacturers were forced to shut down their manufacturing units amid the pandemic scenario, which has led to a decrease in demand for synthetic rubber. The world’s biggest tiremaker Bridgestone has shut eight tire plants between April and May 2020, including its main passenger vehicle tire factory in Hikone, western Japan, and its main truck and bus tire manufacturing plant in Amagi, southern Japan. In August 2020, the company also finalized the closure of its South African plant that is the agri tire manufacturing plant in Port Elizabeth, Eastern Cape, South Africa. Furthermore, in January 2021, the company announced the closure of its Béthune tire plant in France.
– Over the medium term, the growth of the synthetic rubber market is likely to be driven by the increasing demand for tires in the automobile sector, which represents the largest use of synthetic rubber by far. Increasing construction of automotive manufacturing bases in developing countries, especially in the ASEAN countries, will support gains in the production and use of motor vehicles, fuel demand for tires, and, in turn, stimulate the demand for synthetic rubber. Rising demand for synthetic rubber in non-tire applications such as automotive components, industrial rubber products, medical products, and footwear is also likely to stimulate the market demand.
– Stringent environmental regulations and possible health risks due to soot produced during the vulcanization of rubber are likely to hinder the market’s growth. Soot is a toxic combination of metals and chemicals, which results in cardiovascular diseases and cancer.
– The development of bio-based feedstock for synthetic rubber is likely to act as an opportunity for market growth in the future.
– Asia-Pacific has accounted for the highest market share and is likely to dominate the market during the forecast period.
Key Market Trends
Tire and Tire Component to Dominate the Market
– The tire and tire components segment has the highest market share in the synthetic rubber market. Styrene-butadiene rubber is mostly used in the tire industry owing to its good aging stability and high abrasion resistance, making it the material of choice for use in the tire manufacturing industry.
– Around 50% of the car tires are made up of styrene-butadiene rubber, present in a blend with natural rubber.
– For low-end tires, the ratio of SBR to natural rubber is lower in order to reduce the cost of production. Although this reduces the overall life of tires, it is a cost-effective option.
– Tire production globally has seen a significant rise. In 2019, the production rose to 16,862 kiloton from 16,175 kiloton in 2016.
– Sales of electric cars topped 2.1 million globally in 2019. Electric cars, which accounted for 2.6% of global car sales and about 1% of global car stock in 2019, registered a 40% year-on-year increase over 2018. As technological progress in the electrification of two/three-wheelers, buses, and trucks advances and the market for them grows, electric vehicles are expanding significantly.
– EV sales remained constant in China in 2019, at around 1.2 million units sold (a 3 % increase from the previous year). Meanwhile, sales in Europe rose by 44 %, to reach 590,000 units. Consequently, these circumstances are likely to drive the demand for tires and tire components in the forthcoming years.
– China is projected to produce 704 million tires per year by 2025, including 527 million passenger radial tires, 148 million truck/bus radial tires, 29 million bias truck tires, 20,000 extra-large industrial tires, 12 million agricultural tires, and 54,000 aircraft tires. In addition, China will produce 120.7 million motorcycle tires and 420 million bicycle tires annually by 2025.
– Saudi Arabia is currently focusing on establishing itself as the new automotive hub in the Middle East. Though the country is a large importer of vehicles and auto parts, it is now trying to attract original equipment manufacturers (OEMs) to open their production plants in the country to develop the domestic auto industry, which is likely to propel the demand for styrene.
– Thus, from the factors mentioned above, the consumption of rubber in tire and tire components is expected to increase during the forecast period.
Asia-Pacific to Dominate the Market
– Asia-Pacific has dominated the synthetic rubber market owing to the high demand from countries like India and China.
– In the Asia-Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. The economic growth rate of China in 2020 was initially expected to be moderate as compared to the previous year.
– However, due to the onset of COVID-19 in 2020, the economic growth of China is estimated to contract to some extent and is expected to witness recovery in 2021.
– China had become the largest producer, consumer, and importer of synthetic rubber, in recent years globally.
– Being a developing country, rapid industrialization is taking place in China, which has, in turn, led to a huge demand for synthetic rubber in various end-user industries.
– China is promoting and undergoing a process of continuous urbanization, with a target rate of 60% for 2020. The increased living spaces required in the urban areas resulting from urbanization are, in turn, driving the consumption of wires used in electrifying these spaces. The growing use of these wires and cables with the growing construction and infrastructural activities is estimated to drive the market for synthetic rubber wires and cables sector.
– Tire production is the major factor driving the growth of the market studied in India.
– In July 2019, Continental reported an investment of EUR 250 million on a path-breaking motorcycle tire plant in Rayong, Thailand. The plant is designed to produce up to 4 million tires per year for Thailand and the Asia-Pacific region by 2022.
– The aforementioned factors are expected to boost the growth of the synthetic rubber market in the region during the forecast period.
Competitive Landscape
The synthetic rubber market is competitive and concentrated among the top players, with the top five players accounting for a major chunk of the market. Major recognized players of the market include ExxonMobil Corporation, The Goodyear Tire & Rubber Company, Kumho Petrochemical, Mitsubishi Chemical Corporation, and China Petrochemical Corporation (Sinopec).
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1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand from Rising Sales of Electric Vehicles
4.1.2 Surging Demand for Athletic Footwear
4.1.3 Increasing Demand for Hydrogenated, Nitrile-butadiene Rubber (HNBR) in the Emerging Markets
4.2 Restraints
4.2.1 Substitution by Natural Rubber
4.2.2 Oversupply due to Consistent Capacity Additions
4.2.3 Impact of COVID-19
4.3 Industry Value Chain Analysis
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Feedstock Analysis and Trends
4.6 Technological Snapshot
4.6.1 Production Process
4.6.2 Technology Licensing and Patent Analysis
4.7 Supply Scenario
4.7.1 Capacity and Production Analysis
4.8 Regulatory Policy Analysis
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Styrene Butadiene Rubber (SBR)
5.1.2 Ethylene Propylenediene Rubber (EPDM)
5.1.3 Polyisoprene (IR)
5.1.4 Polybutadiene Rubber (BR)
5.1.5 Other Types
5.2 Application
5.2.1 Tire and Tire Component
5.2.2 Non-tire Automobile Application
5.2.3 Footwear
5.2.4 Industrial Goods
5.2.5 Other Applications
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 ASEAN Countries
5.3.1.6 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 France
5.3.3.3 United Kingdom
5.3.3.4 Italy
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Chevron Phillips Chemical Company LLC
6.4.2 China Petrochemical Corporation (Sinopec)
6.4.3 DuPont
6.4.4 Eastman Chemical Company
6.4.5 Exxon Mobil Corporation
6.4.6 Hexion
6.4.7 INEOS
6.4.8 Kemipex
6.4.9 Kumho Petrochemical
6.4.10 LyondellBasell Industries Holdings BV
6.4.11 Mitsubishi Chemical Corporation (MCC)
6.4.12 NOVA Chemicals Corporate
6.4.13 SABIC
6.4.14 Saudi Arabian Oil Co.
6.4.15 The Goodyear Tire & Rubber Company
6.4.16 Trinseo
6.4.17 TSRC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of Bio-based Feedstock for Synthetic Rubber
7.2 Emerging Demand for Healthcare Gloves