Summary

The Chinese synthetic rubber market is a vibrant and fast-growing sector that is critical not only to the country's industrial landscape but also to the worldwide rubber industry. China's demand for synthetic rubber is enormous as the world's most populated country and one of the greatest economies, driven by its thriving automobile sector, construction industry, and overall growth of its manufacturing base. China is a major consumer and manufacturer of synthetic rubber, owing to its massive market size and growth potential. The country's rapid economic growth, combined with rising urbanization, has resulted in increased demand for tires, automotive components, industrial items, and consumer goods, all of which rely significantly on synthetic rubber. China's automobile industry is a powerhouse, and it has a direct impact on synthetic rubber consumption. The production of millions of vehicles each year in the world's largest automotive market demands a steady supply of high-quality synthetic rubber. Rubber is used in a variety of vehicle components, from tires to gaskets and seals. China's growing urbanization and ambitious infrastructure projects have boosted demand for synthetic rubber dramatically. Rubber products are used in the construction sector for things like waterproofing membranes, sealing compounds, and long-lasting roofing materials. The need for synthetic rubber in construction applications is high as China continues to improve its infrastructure. China is a major player in the worldwide synthetic rubber business, exporting a considerable portion of its output to other countries. The country's well-developed infrastructure and ports promote the efficient export of synthetic rubber products, making China a key supplier to the global market. China has made significant investments in research and development in the synthetic rubber sector. These efforts have resulted in rubber technological improvements, which have resulted in higher product quality, more efficiency, and a broader range of synthetic rubber uses in numerous industries.

According to the research report "China Synthetic Rubber Market Overview, 2028," published by Bonafide Research, the China Synthetic Rubber market is predicted to reach market size of more than USD 11 Billion by 2028. The diverse industrial landscape of China, which includes automotive, construction, consumer products, and other industries, demands a wide range of synthetic rubber kinds. The market is distinguished by the widespread application of various synthetic rubber materials customized to specific application needs. China's ambitious infrastructure projects, such as transportation networks, real estate developments, and public infrastructure, result in a steady demand for synthetic rubber in applications such as building materials, waterproofing, and sealing compounds. To combat the environmental impact of the synthetic rubber sector, the Chinese government has enacted legislation and regulations. This includes emission regulations and the promotion of green technologies, which influence the development and practices of the industry. China's well-established infrastructure, ports, and logistics networks make it a central hub for the export of synthetic rubber products. The country's international trade significance allows it to supply synthetic rubber to global markets, reinforcing its influence in the industry. According to latest data by, National Bureau of Statistics, China's synthetic rubber production in July 2023 exceeded more than 700,000 tons. China's economic stability and capacity to respond to global economic trends and shocks have helped the country's synthetic rubber industry prosper. Even amid global economic downturns, China's synthetic rubber sector has remained resilient. China has access to a diverse range of raw materials required in the production of synthetic rubber, including petrochemical feedstocks. This access to resources increases the country's self-sufficiency and decreases reliance on imports, which can be a considerable benefit.

Based on form type market is divided into solid and liquid. Solid form type dominates the market of China and expected to grow at the fastest rate as well during the forecast period. Solid-form synthetic rubber is extremely adaptable and can be tailored to individual application needs. It is designed to have different features like hardness, durability, flexibility, and resistance to environmental influences, making it appropriate for a wide range of applications. Synthetic rubber in solid form is utilized in the production of a wide range of consumer goods, including footwear, sports equipment, and different industrial products. It is a popular choice for many applications due to its versatility, durability, and ease of processing. The Chinese construction and infrastructure development industries rely largely on solid-form synthetic rubber as well. It is utilized in applications requiring durability and resistance to environmental variables, such as waterproofing membranes, roofing materials, adhesives, and sealing compounds. Based on type market is bifurcated into styrene butadiene rubber, polybutadiene rubber, ethylene propylenediene rubber, polyisoprene rubber, neoprene rubber, nitrile rubber, butyl rubber and others. Among them polybutadiene rubber is commonly preferred synthetic rubber in China and is dominating the market as well. China is not just the world's greatest buyer of autos but also the world's largest producer of tires. Because of its remarkable wear resistance, low rolling resistance, and gripping qualities, polybutadiene rubber is a key component of high-performance tires. With the burgeoning automotive industry and rising demand for high-quality tires, the use of polybutadiene rubber has become unavoidable, making it the preferred material for tire manufacture in China. In China, high-performance tires are in high demand, particularly for sports cars and luxury automobiles. The ability of polybutadiene rubber to improve tire performance by boosting grip, wear resistance, and fuel efficiency corresponds perfectly with the demand for such specialist products.

Based on end user industry market is bifurcated into automotive, consumer goods, industrial goods, chemical, medical, pulp & paper and others. Automotive industry is major consumer of synthetic rubber in China and is expected to lead the market as well. China has the world's largest automobile sector, producing and selling millions of vehicles each year. The demand for automobiles, including passenger cars, commercial vehicles, and electric vehicles, remains strong as the country's economy grows and urbanization continues. The huge volume of production in the automotive industry fuels the demand for synthetic rubber. The fast economic expansion and urbanization in China have resulted in increased automobile ownership. As more people relocate to cities and their incomes rise, the demand for personal and commercial vehicles, such as cars, trucks, and public transit, rises, contributing to increased consumption of synthetic rubber in the automotive sector. The demand for specialist rubber components, such as those used in electric vehicles (EVs), is increasing as the automotive industry evolves. EVs require unique rubber materials to meet the demands of battery-electric powertrains, electric drive components, and advanced braking systems, further driving the use of synthetic rubber in the sector.

Considered in this report:
• Geography: China
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• China Synthetic Rubber market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Form Type:
• Solid
• Liquid

By Type:
• Styrene Butadiene Rubber
• Polybutadiene Rubber
• Ethylene Propylenediene Rubber
• Polyisoprene Rubber
• Neoprene Rubber
• Nitrile Rubber
• Butyl Rubber
• Others

By End User Industry:
• Automotive
• Consumer Goods
• Industrial Goods
• Chemical
• Medical
• Pulp & Paper
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Synthetic Rubber industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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