Synthetic Rubber Industry Future Challenges and Industry Growth and Revenue Analysis
Synthetic rubber, a man-made alternative to natural rubber, has become an essential component of our world. From the tires on our cars to the soles of our shoes, synthetic rubber plays a vital role in countless applications. This article delves into the synthetic rubber industry, exploring its history, production processes, key players, applications, and future outlook.
The global synthetic rubber industry size was valued at USD 31.31 billion in 2023 and is projected to grow from USD 32.84 billion in 2024 to USD 48.17 billion by 2032, exhibiting a CAGR of 4.9% during the forecast period.
A Brief History: From Necessity to Innovation
The story of synthetic rubber begins in the early 1900s. Natural rubber, derived from the Pará rubber tree, faced supply chain disruptions due to a leaf bli...