According to a new market report published by Lucintel, the future of the synthetic rubber compound market look promising with opportunities in tire, hose & belting, roofing, geomembrane, wire & cable insulation, and footwear applications. The Middle Eastern and North African (MENA) synthetic rubber compound market is expected to decline in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in 2021, and it is expected to grow with a CAGR of 2%-3% from 2019 to 2025. The major drivers for this market are growth in automotive production and increasing building and construction activities.
In this market, styrene butadiene rubber (SBR), silicone rubber, fluoro rubber, butyronitrile rubber (BR), ethylenepropylene rubber (EPDM), and cholropene rubber are the major synthetic rubber compounds used in various applications. On the basis of comprehensive research, Lucintel forecasts that the styrene butadiene rubber (SBR) compound will remain the largest segment by value and volume due to wide availability, low cost, and ability to provide high filler loading than other synthetic rubber compound.
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Within synthetic rubber compound market, tire will remain the largest application and it is also expected to witness the highest growth due to increasing automotive production.
Saudi Arabia will remain the largest country in the Middle Eastern and North African synthetic rubber compound market during the forecast period due to growth in tire and non-tire applications.
An emerging trend, which has a direct impact on the dynamics of the industry, includes development of bio-based feedstock and green chemicals to reduce carbon emissions. Continental AG, HEXPOL Compound, Kraiburg, Arlanxeo and AEB Ltd, are among the major suppliers of the synthetic rubber compound market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the Middle Eastern and North African synthetic rubber compound market by application, product type, and country. Lucintel has prepared a comprehensive research report entitled, “Growth Opportunities in the Middle Eastern and North African Synthetic Rubber Compound Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the Middle Eastern and North African synthetic rubber compound market by application, type, end use industry, region, and country as follows:
By Application (Value ($M) and Volume (KT) shipment analysis for 2014 – 2025):
· Tires
· Hoses and Belting
· Roofing and Geo-membranes
· Footwear
· Wire and Cable Insulation
· Others
By Product Type (Value ($M) and Volume (KT) shipment analysis for 2014 – 2025):
· Styrene Butadiene Rubber
· Silicon Rubber
· Fluoro Rubber
· Butyronitrile Rubber
· Ethylenepropylene Rubber
· Chloroprene Rubber
· Others
By Country (Value ($M) and Volume (KT) shipment analysis for 2014 – 2025):
· Saudi Arabia
· UAE
· Iran
· Iraq
· Others
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… or helpdesk@lucintel.com.
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