MRC Announces the Publication of its Research Report – Global Rubber Market 2017-2021
MRC recognizes the following companies as the key players in the global rubber market: Bridgestone, ExxonMobil, MICHELIN, Sri Trang Agro-Industry, and The Dow Chemical Company
Other Prominent Vendors in the market are: Advanced Multitech, Ansell, Asahi Kasei Advance Corporation, China National Petroleum Corporation, LANXESS, LG Chem, Nishikawa Rubber, THAI RUBBER CORPORATION (THAILAND), Tianjin Lugang Petroleum Rubber, Trinseo, and Versalis.
Commenting on the report, an analyst from MRC’s team said: “The latest trend gaining momentum in the market is Bio-based tires helping market growth. The tires used in automotive vehicles are going to be bio-based during the forecast period. There is a great turmoil in the rubber industry to manufacture automotive vehicle tires made from renewable raw materials. Companies such as DuPont have been working on the use of renewable raw materials, which can be used to manufacture tires. DuPont Industrial Biosciences is working to develop a product known as BioIsoprene, which is a bio-based alternative for petroleum-derived isoprene. BioIsoprene can be used to produce synthetic rubber, which is regarded as an alternative for natural rubber and other elastomers.”
Get sample copy of this report @https://marketreportscenter.com/request-sample/568112
According to the report, one of the major drivers for this market is Growing demand for rubber in APAC. APAC accounted for the largest market for rubber consumption in 2016 and is expected to be the fastest growing market for rubber consumption during the forecast period. Countries such as Indonesia, India, Vietnam, Thailand, and China will also witness a high rubber consumption. China was the world’s largest rubber market in 2016. China will continue to be the largest consumer of natural rubber in the world, accounting a 36%-39% of the natural rubber consumption by 2021. China uses 80% of its natural rubber to manufacture tires. Indonesia and Malaysia are the major markets for natural and synthetic rubbers. The high production of natural rubber in these countries is expected to increase the growth of the rubber market. The rising demand for tires in the automotive sector is a major factor that is encouraging the growth of the rubber market in APAC.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuating raw material prices for synthetic rubber. Synthetic rubber is manufactured by refining crude oil to naphtha and natural gas. These are derived from the fractional distillation of petroleum products. Petrochemical prices are heavily dependent on crude oil prices. Fluctuating crude oil prices have affected the prices of raw materials, thereby affecting the costs to produce synthetic rubber. As per the US Energy Information Administration (EIA), the crude oil price for Brent was around $48.67 per barrel in 2015, but the price decreased by 10.97% in 2016. However, in 2017, it is estimated that the price of crude oil per barrel will increase at a rate of nearly 15%. These prices are expected to fluctuate during the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Market Reports Center currently has more than 4,00,000 plus titles and 50+ Publishers on our platform and growing consistently. We cover more than 35 industry verticals being: Automotive, Electronics, Manufacturing, Pharmaceuticals, Healthcare, Chemicals, Construction, Agriculture, Food, Beverages, Banking & Finance, Media and Government, Public Sector Studies.
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MRC recognizes the following companies as the key players in the global rubber market: Bridgestone, ExxonMobil, MICHELIN, Sri Trang Agro-Industry, and The Dow Chemical Company
Other Prominent Vendors in the market are: Advanced Multitech, Ansell, Asahi Kasei Advance Corporation, China National Petroleum Corporation, LANXESS, LG Chem, Nishikawa Rubber, THAI RUBBER CORPORATION (THAILAND), Tianjin Lugang Petroleum Rubber, Trinseo, and Versalis.
Commenting on the report, an analyst from MRC’s team said: “The latest trend gaining momentum in the market is Bio-based tires helping market growth. The tires used in automotive vehicles are going to be bio-based during the forecast period. There is a great turmoil in the rubber industry to manufacture automotive vehicle tires made from renewable raw materials. Companies such as DuPont have been working on the use of renewable raw materials, which can be used to manufacture tires. DuPont Industrial Biosciences is working to develop a product known as BioIsoprene, which is a bio-based alternative for petroleum-derived isoprene. BioIsoprene can be used to produce synthetic rubber, which is regarded as an alternative for natural rubber and other elastomers.”
Get sample copy of this report @https://marketreportscenter.com/request-sample/568112
According to the report, one of the major drivers for this market is Growing demand for rubber in APAC. APAC accounted for the largest market for rubber consumption in 2016 and is expected to be the fastest growing market for rubber consumption during the forecast period. Countries such as Indonesia, India, Vietnam, Thailand, and China will also witness a high rubber consumption. China was the world’s largest rubber market in 2016. China will continue to be the largest consumer of natural rubber in the world, accounting a 36%-39% of the natural rubber consumption by 2021. China uses 80% of its natural rubber to manufacture tires. Indonesia and Malaysia are the major markets for natural and synthetic rubbers. The high production of natural rubber in these countries is expected to increase the growth of the rubber market. The rising demand for tires in the automotive sector is a major factor that is encouraging the growth of the rubber market in APAC.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuating raw material prices for synthetic rubber. Synthetic rubber is manufactured by refining crude oil to naphtha and natural gas. These are derived from the fractional distillation of petroleum products. Petrochemical prices are heavily dependent on crude oil prices. Fluctuating crude oil prices have affected the prices of raw materials, thereby affecting the costs to produce synthetic rubber. As per the US Energy Information Administration (EIA), the crude oil price for Brent was around $48.67 per barrel in 2015, but the price decreased by 10.97% in 2016. However, in 2017, it is estimated that the price of crude oil per barrel will increase at a rate of nearly 15%. These prices are expected to fluctuate during the forecast period.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Check Discount on Report @ https://marketreportscenter.com/request-discount/568112
About Market Reports Center;
Market Reports Center is an e-commerce platform obliging the needs of knowledge workers, experts, professionals who are subject to market research information for their work, or to make strategic business decisions. We are dedicated to create a comprehensive offering of market research which is accurate, credible and affordable.
Market Reports Center currently has more than 4,00,000 plus titles and 50+ Publishers on our platform and growing consistently. We cover more than 35 industry verticals being: Automotive, Electronics, Manufacturing, Pharmaceuticals, Healthcare, Chemicals, Construction, Agriculture, Food, Beverages, Banking & Finance, Media and Government, Public Sector Studies.
Connect for more details:
Sam Collins
Market Reports Center
1-646-883-3044 (US)
Email: info@marketreportscenter.com
Website: https://marketreportscenter.com
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