Comprehensive Snapshot of Synthetic Rubber Market Research Report, Including Regional and Country Analysis in Brief.
Industry: Chemicals and Materials
Delivery Timelines: Please Contact Sales
Published Date: May-2025
Format: PPT*, PDF, EXCEL
Number of Pages: 200
ID: PMRREP35332
The global synthetic rubber market size valued at US$ 23,761.1 Mn, is set to grow at a CAGR of 5.3%, reaching US$ 34,108.6 Mn by 2032. This growth is largely driven by the automotive sector, where increasing demand for lightweight, fuel-efficient vehicles and the rise of electric vehicles are fueling the need for components like tires, seals, and gaskets. The demand for engineered rubber solutions is on the rise, particularly as the industry shifts towards more sustainable, high-performance materials for modern vehicles.
The medical sector also plays a significant role in expanding the synthetic rubber market. As healthcare infrastructure grows in emerging economies, the demand for durable materials such as nitrile rubber increases, especially for products like gloves and protective equipment. This trend, supported by innovations in compound properties and safety features, is expected to continue contributing to market growth through 2032.
Sustainability trends in the construction sector, including the increased use of EPDM rubber for insulation and roofing, also support the market’s growth. The global push for energy-efficient materials drives the demand for synthetic rubber in industrial applications. Alongside this, the rise of electric vehicles, with global sales reaching around 14 million units in 2023 and projected to surpass 17 million in 2024, further accelerates the demand for lightweight, high-performance rubber in the automotive sector.
Key Industry Highlights:
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Global Market Attribute |
Key Insights |
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Synthetic Rubber Market Size (2024A) |
US$ 22,565.1 Million |
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Estimated Market Size (2025E) |
US$ 23,761.1 Million |
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Projected Market Value (2032F) |
US$ 34,108.6 million |
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Value CAGR (2025 to 2032) |
5.3% |
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Historical Market Growth (CAGR 2019 to 2024) |
4.7% |
Rising demand for comfort and durability in footwear has significantly accelerated the adoption of NBR-based materials. Consumers increasingly prefer cushioned soles and flexible designs, pushing manufacturers to explore high-performance rubber formulations that offer enhanced oil and abrasion resistance. As footwear brands integrate ergonomic features, NBR emerges as a preferred choice due to its superior mechanical properties and cost-effectiveness in mass-market and premium segments alike.
To meet this growing demand, SIBUR and Sinopec signed an MoU to establish a joint venture in China, targeting 50,000 tons of NBR production annually. This initiative addresses China's rapidly expanding footwear and industrial goods markets, with SIBUR holding a 40% stake and Sinopec 60%. By localizing production, the JV improves supply reliability and enables faster response to design customization trends in consumer goods, especially athletic and utility footwear.
ZEON Corporation is scaling up its global HNBR capacity by 25% at its Texas facility, set to complete by early 2025. While aimed broadly at oil & gas and automotive, the expansion of Zetpol® HNBR directly supports innovation in technical footwear requiring heat, oil, and wear resistance. This strategic move enhances ZEON’s ability to deliver specialized rubber for hybrid applications, strengthening its competitive position in the synthetic rubber market.
Increasing regulatory scrutiny on harmful additives in elastomers raises challenges for manufacturers. Restrictions on certain chemical compounds, such as PAHs (Polycyclic Aromatic Hydrocarbons), are forcing producers to reformulate their products, which can increase production costs and limit product performance. Compliance with stringent regulations across different regions makes it harder for companies to innovate or introduce new variants quickly, hindering market expansion.
The growth of the electric vehicle (EV) charging infrastructure is expected to significantly boost the demand for synthetic rubber. As global public charging points are set to increase fourfold by 2030, with projections of nearly 25 million charging points by 2035, the need for high-quality, durable materials for cable insulation has grown. This expanding infrastructure will require rubber-based solutions to ensure safety, reliability, and performance of EV charging stations, particularly in the face of increasing demand for both slow and fast chargers.
Key developments in synthetic rubber production have positioned the industry to meet these growing demands. Yokohama Rubber, in collaboration with RIKEN and Zeon Corporation, developed a groundbreaking process to produce isoprene from biomass, reducing reliance on petroleum. This innovation shortens the natural isoprene synthesis process, supporting the sustainable production of polyisoprene rubber, which is critical for cable insulation used in EV charging infrastructure.
Bridgestone Corporation has also advanced synthetic isoprene rubber (IR) production using renewable biomass, allowing for the development of high-performance, sustainable rubber materials.
As more countries roll out ambitious EV charging goals, such as the UK's plan for 300,000 public chargers by 2030, demand for synthetic rubber is set to rise. The growing focus on renewable sources of isoprene and advancements in rubber production technologies will play a vital role in supplying the materials necessary for the continued expansion of EV charging infrastructure, ensuring the sector's long-term sustainability and performance.
The growing demand for eco-friendly materials is driving a shift in the rubber industry towards bio-based alternatives. Innovations in bio-based materials promise to transform the future of the rubber market by reducing dependency on fossil resources. As companies look to decarbonize and align with sustainability goals, advancements in bioethanol-derived butadiene are making bio-based production more viable, making a major contribution to global sustainability efforts.
Industry giants such as Kumho Petrochemical and Dow are expanding their portfolios to include renewable raw materials for rubber production. Kumho Petrochemical is integrating eco-friendly practices through collaborations like their recent MOU with SK Geo Centric, working on bio-based monomers for tire production. These partnerships signify a growing commitment to advancing sustainability within the sector.
Dow's introduction of NORDEL™ REN EPDM, a bio-based elastomer, further strengthens the market's push towards renewable solutions. The automotive industry's push for sustainability is catalyzing such innovations, ensuring that new rubber materials meet the industry's rigorous performance demands while drastically reducing their carbon footprints. This shift highlights the increasing importance of bio-based solutions in meeting global decarbonization goals.
The shift towards bio-based production isn't just about sustainability; it's also about market competitiveness. Companies such as Trinseo and Lummus are pioneering bio-butadiene technologies, which will enable the development of advanced, sustainable rubber products. As bio-based solutions gain traction, the future of rubber lies in innovation driven by the need for greener, more sustainable materials.
Styrene-Butadiene Rubber (SBR) accounts for a positive market share among synthetic rubbers, estimated at 35.4% in 2025. Its dominance stems from strong demand in tire applications, especially as electric vehicles (EVs) require high-performance, durable tires with low rolling resistance. TSRC Corporation’s strategic acquisition of a 22.56% stake in Shen Hua Chemical in 2023 has reinforced its presence in the Emulsion SBR (ESBR) market, leveraging Shenhua’s 170,000-ton production capacity to meet surging demand in China’s growing automotive and EV sectors.
On the sustainability front, the shift toward bio-based materials is reshaping the SBR segment. The 2023 MOU between Idemitsu Kosan, Kumho Petrochemical, and Sumitomo Corporation to develop bio-SSBR using bio-naphtha aligns with the industry’s move toward eco-friendly solutions. Set for production in 2024, this initiative not only addresses environmental mandates but also supports premium tire manufacturing for EVs, reinforcing SBR’s strategic role in the evolving electrification ecosystem.
The automotive industry secures a commanding 55.6% share in the synthetic rubber market by 2025, fueled by growing global vehicle demand. In 2024, car sales worldwide climbed to 74.6 million units, a 2.5% increase from 2023. Strong sales in China, reaching nearly 23 million units with a 2.6% growth and India’s 4.8% uptick to 4.4 million units underpinned the industry's continued momentum. These figures reinforce automotive’s status as the primary consumer of rubber for tires, belts, hoses, and seals.
North America and Europe further strengthened demand, with the U.S. growing by 3.1% to 12.7 million units and Europe posting 3.9% growth to reach 16.1 million units. Latin America also showed promise, with Brazil leading at 12.5% growth. This sustained vehicle production and aftermarket growth support high rubber consumption across both OEM and replacement segments, reinforcing automotive’s long-standing dominance in application-based market share.
North America holds a 23.3% share of the global market in 2025, supported by strong automotive output and aggressive consumer buying. The U.S. produced over 10.6 million vehicles in 2023, rising from 10.05 million in 2022, while auto sales in April 2025 surged 10.0% year-over-year to 1.46 million units. Demand for light trucks grew 15.2% as buyers rushed to purchase ahead of expected price hikes and tightening inventories. Tire makers and component suppliers continue to expand operations to meet vehicle production growth, especially in the light truck segment.
Canada strengthens regional demand with over 1.55 million vehicles produced in 2023, including more than 1.1 million commercial units. Automakers in both countries continue to source advanced rubber materials to support rising volumes and domestic manufacturing. Strong replacement cycles, policy shifts favoring local sourcing, and resilient demand for light trucks keep the synthetic rubber market in North America on a steady growth path.
East Asia’s market sees strong momentum from construction and industrial sectors, led by China’s projected 7.4% growth in 2024, pushing the industry’s value to CNY 9.13 trillion. Government investments in infrastructure and a surge in new institutional projects continue to fuel demand for rubber-based applications across building sites and heavy machinery. The region holds a dominant 34.5% share of the global market, driven by large-scale developments and consistent industrial output. Overseas engineering contracts also support this upward trend, with new project values rising 27.6% YoY to RMB952.3 billion between January and July 2024.
Japan’s FY 2025/26 budget outlines significant public spending worth JPY115 trillion, aimed at revitalizing infrastructure and sustaining industrial capacity. Although South Korea saw a decline in construction permits in 2024, regional demand remains stable due to ongoing manufacturing activity.
Durable material needs across sectors such as conveyor systems, sealing components, and vibration dampers drive synthetic rubber consumption in industrial and construction applications throughout East Asia.
The global synthetic rubber market remains consolidated, with key players such as Kumho Petrochemical, Zeon Corporation, Sinopec, TSRC Corporation, and Trinseo driving competition through capacity expansions, sustainability initiatives, and technological collaborations.
These companies are strengthening their global positions by entering into strategic partnerships, developing eco-friendly production processes, and targeting high-growth sectors such as electric vehicles and healthcare.
Companies such as Zeon and Kumho Petrochemical are focusing on localized support, product innovation, and the use of bio-based raw materials to meet evolving customer demands. Meanwhile, Sinopec and TSRC are reinforcing their presence in Asia through facility expansions and acquisitions. The market’s consolidated nature enables these leaders to influence pricing and innovation trends across regional and global segments.
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Attribute |
Details |
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Forecast Period |
2025 to 2032 |
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Historical Data Available for |
2019 to 2024 |
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Market Analysis |
USD Million for Value, Tons for Volume |
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Key Regions Covered |
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Key Companies Covered |
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Report Coverage |
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Customization and Pricing |
Available on Report |
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The global market is projected to value at US$ 23,761.1 Million in 2025.
The Styrene-Butadiene Rubber (SBR) segment is set to capture approximately 35.4% of the global market in 2025, driven by its high demand in automotive tires and industrial applications.
The market is poised to witness a CAGR of 5.3% from 2025 to 2032.
Consumer preference for comfort footwear is driving innovation in Nitrile Butadiene Rubber (NBR)-based products, leading to enhanced designs and durability in footwear materials.
The growth of electric vehicle (EV) charging infrastructure is spurring an increased demand for Insulated Rubber (IR) cables, presenting significant opportunities for market expansion.
