The synthetic rubber industry, quietly underpinning everything from the tires on our cars to the soles of our shoes, is a global economic powerhouse projected to surge from $28.45 billion to nearly $39 billion by 2030 as demand for durable, high-performance materials accelerates across every continent.
Key Takeaways
- The global synthetic rubber market size was valued at USD 28.45 billion in 2023 and is projected to reach USD 38.72 billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030.
- Synthetic rubber accounted for 57% of total rubber consumption worldwide in 2022, with natural rubber at 43%.
- Asia-Pacific region dominated the synthetic rubber market with a 52.3% revenue share in 2023.
- Global synthetic rubber production totaled 15.4 million metric tons in 2023.
- China produced 5.8 million tons of synthetic rubber in 2023, 38% of global total.
- Japan's synthetic rubber production capacity was 1.2 million tons per year in 2023.
- Global synthetic rubber consumption reached 15.1 million metric tons in 2023.
- China consumed 6.2 million tons of synthetic rubber in 2023, 41% of global demand.
- U.S. synthetic rubber consumption was 1.3 million tons in 2023.
- Global synthetic rubber exports totaled 8.7 million tons in 2023.
- China exported 1.2 million tons of synthetic rubber in 2023.
- EU synthetic rubber exports valued at USD 4.5 billion in 2023.
- Tires application consumes 70-75% of global synthetic rubber production.
- Styrene-Butadiene Rubber (SBR) used in 50% of passenger car tires worldwide.
- Polybutadiene Rubber (BR) constitutes 25% of tire tread compounds.
The global synthetic rubber market is steadily growing, driven largely by tire manufacturing.
Applications and Types
- Tires application consumes 70-75% of global synthetic rubber production.
- Styrene-Butadiene Rubber (SBR) used in 50% of passenger car tires worldwide.
- Polybutadiene Rubber (BR) constitutes 25% of tire tread compounds.
- Nitrile Butadiene Rubber (NBR) primary use in oil-resistant seals and hoses, 40% of demand.
- Ethylene Propylene Diene Monomer (EPDM) used in 80% of automotive weatherstrips.
- Butyl Rubber (IIR) employed in 90% of inner tire liners for air retention.
- Chloroprene Rubber (CR/Neoprene) dominant in belts and hoses, 35% market share.
- Acrylonitrile Butadiene Rubber (NBR) in 60% of hydraulic seals globally.
- Styrene Butadiene (SBR) footwear soles use 45% of production.
- EPDM in roofing membranes accounts for 25% of synthetic rubber in construction.
- BR in conveyor belts represents 20% of industrial applications.
- NBR gloves usage in medical sector at 15% of total NBR demand.
- Synthetic Isoprene Rubber (IR) in chewing gum base 95% replacement of natural.
- Fluoroelastomers (FKM) in aerospace seals, 70% high-temp applications.
- Hydrogenated Nitrile Rubber (HNBR) in automotive belts, 30% premium share.
- SBR latex in carpet backing uses 10% of SBR production.
- EPDM in electrical insulation cables 40% market penetration.
- CR in adhesives and coatings 25% of CR consumption.
- Butyl rubber in pharmaceutical stoppers 85% usage rate.
- Polyacrylate Rubber (ACM) in transmission belts 50% auto use.
- Silicone Rubber (VMQ) in medical tubing 60% biocompatibility apps.
- Thermoplastic Elastomers (TPE) replacing 15% traditional synthetic rubber in consumer goods.
- NBR in fuel hoses 55% of automotive fluid handling.
- SBR in tire sidewalls 40% compound composition.
- EPDM in radiator hoses 75% heat-resistant applications.
- BR in golf balls cores 90% high-resilience use.
- IIR in vibration dampers 65% noise reduction apps.
Applications and Types Interpretation
It’s amazing to realize that the world's synthetic rubber industry essentially revolves around keeping cars rolling and sealed, since tires consume up to three-quarters of all production, while everything else—from gaskets and hoses to roofing and even chewing gum—finds ingenious ways to use up the remaining quarter.
Consumption and Demand
- Global synthetic rubber consumption reached 15.1 million metric tons in 2023.
- China consumed 6.2 million tons of synthetic rubber in 2023, 41% of global demand.
- U.S. synthetic rubber consumption was 1.3 million tons in 2023.
- Europe's synthetic rubber demand stood at 2.8 million tons in 2023.
- India's synthetic rubber consumption grew 8.5% to 850,000 tons in FY2023.
- Japan's consumption of synthetic rubber was 1.1 million tons in 2023.
- Brazil consumed 420,000 tons of synthetic rubber in 2023.
- South Korea's demand for synthetic rubber hit 950,000 tons in 2023.
- Germany's synthetic rubber consumption at 650,000 tons in 2023.
- Thailand's consumption reached 550,000 tons in 2023.
- Russia's synthetic rubber demand was 780,000 tons in 2023.
- Indonesia consumed 380,000 tons of synthetic rubber in 2023.
- Mexico's demand grew to 320,000 tons in 2023.
- Italy's synthetic rubber consumption at 410,000 tons in 2023.
- France consumed 380,000 tons of synthetic rubber in 2023.
- Vietnam's demand surged to 250,000 tons in 2023.
- Turkey consumed 210,000 tons in 2023.
- Spain's synthetic rubber demand was 190,000 tons in 2023.
- Poland consumption at 160,000 tons in 2023.
- Malaysia demanded 450,000 tons of synthetic rubber in 2023.
- Tire sector demand for synthetic rubber was 10.8 million tons globally in 2023.
- Non-tire applications consumed 4.3 million tons in 2023.
- Automotive demand accounted for 68% of total synthetic rubber consumption in 2023.
- Construction sector demand up 6% to 1.2 million tons in 2023.
- SBR consumption was 6.1 million tons worldwide in 2023.
- BR demand reached 4.5 million tons in 2023.
Consumption and Demand Interpretation
The synthetic rubber industry reveals a world in motion, where China's colossal appetite for 41% of global supply is essentially driving on tires that consume over two-thirds of production, while fast-growing economies like India and Vietnam are accelerating demand beyond the automotive lane.
Market Size and Growth
- The global synthetic rubber market size was valued at USD 28.45 billion in 2023 and is projected to reach USD 38.72 billion by 2030, growing at a CAGR of 4.5% from 2024 to 2030.
- Synthetic rubber accounted for 57% of total rubber consumption worldwide in 2022, with natural rubber at 43%.
- Asia-Pacific region dominated the synthetic rubber market with a 52.3% revenue share in 2023.
- The tire segment held 72% of the synthetic rubber market by application in 2023.
- Global synthetic rubber demand grew by 3.8% year-over-year in 2022, reaching 14.8 million metric tons.
- The synthetic rubber market in North America was valued at USD 4.2 billion in 2023.
- Europe synthetic rubber market expected to grow at 3.2% CAGR from 2024-2032 due to automotive recovery.
- Styrene-butadiene rubber (SBR) segment captured 38% market share in 2023 globally.
- Automotive industry consumed 65% of synthetic rubber output in 2022 worldwide.
- China's synthetic rubber capacity utilization rate was 85.7% in 2023.
- Global synthetic rubber price index rose by 12% in 2022 due to supply chain disruptions.
- The market for solution SBR grew at 5.1% CAGR from 2018-2023.
- Latin America synthetic rubber market valued at USD 1.8 billion in 2023, projected to USD 2.5 billion by 2030.
- Footwear application segment expected to grow at 4.8% CAGR through 2030.
- Middle East & Africa synthetic rubber market share was 4.2% of global in 2023.
- Emulsion SBR production grew 4.2% in 2023 globally.
- Synthetic rubber market revenue in India reached USD 1.2 billion in FY2023.
- Global capacity for synthetic rubber stood at 17.5 million tons per annum in 2023.
- Butyl rubber market within synthetic rubber valued at USD 2.9 billion in 2023.
- Synthetic rubber exports from EU grew 6.3% in 2022.
- NBR market size was USD 2.1 billion in 2023, growing at 5.2% CAGR.
- Asia-Pacific tire rubber demand up 4.5% in 2023.
- Global synthetic rubber R&D investment reached USD 1.5 billion in 2022.
- EPDM rubber market valued at USD 4.3 billion in 2023.
- Synthetic rubber contribution to global rubber market was USD 29.1 billion in 2022.
- U.S. synthetic rubber market grew 3.1% in 2023 to USD 3.8 billion.
- Polybutadiene rubber (BR) segment at 25% global share in 2023.
- Industrial goods application 15% of synthetic rubber use in 2023.
- Synthetic rubber market CAGR forecasted at 4.7% for 2024-2028 in emerging markets.
- Global synthetic rubber revenue hit USD 30.2 billion in Q4 2023 alone.
Market Size and Growth Interpretation
The synthetic rubber industry is quite literally laying down a relentless $38 billion track for the global economy, proving that while natural rubber may have started the race, synthetic is now decisively driving it—especially in Asia's tire factories where over half the world's demand gets its tread.
Production Statistics
- Global synthetic rubber production totaled 15.4 million metric tons in 2023.
- China produced 5.8 million tons of synthetic rubber in 2023, 38% of global total.
- Japan's synthetic rubber production capacity was 1.2 million tons per year in 2023.
- U.S. synthetic rubber output reached 1.1 million metric tons in 2022.
- South Korea's synthetic rubber production grew 5.2% to 1.45 million tons in 2023.
- Germany's annual synthetic rubber capacity stood at 850,000 tons in 2023.
- Thailand produced 450,000 tons of synthetic rubber in 2023.
- Russia's synthetic rubber production was 1.05 million tons in 2023 despite sanctions.
- India's synthetic rubber production capacity expanded to 250,000 tons by end-2023.
- Brazil's synthetic rubber output at 180,000 tons in 2023.
- Singapore's synthetic rubber plants produced 320,000 tons in 2023.
- Iran's synthetic rubber production reached 220,000 tons in Iranian year 1402 (2023-24).
- Saudi Arabia's SABIC produced 400,000 tons of synthetic rubber in 2023.
- France's Michelin-related synthetic rubber production was 150,000 tons in 2023.
- Indonesia's synthetic rubber capacity utilization at 78% producing 120,000 tons in 2023.
- Poland's synthetic rubber production up 3% to 95,000 tons in 2023.
- Malaysia produced 280,000 tons of synthetic rubber equivalents in 2023.
- Vietnam's synthetic rubber output grew to 110,000 tons in 2023.
- Turkey's synthetic rubber production at 75,000 tons in 2023.
- Mexico's synthetic rubber plants produced 140,000 tons in 2023.
- Australia's synthetic rubber production limited to 20,000 tons in 2023.
- Canada's synthetic rubber output was 90,000 tons in 2023.
- U.A.E. synthetic rubber production reached 50,000 tons in 2023.
- Spain's synthetic rubber capacity at 70,000 tons annual in 2023.
- Global SBR production was 5.9 million tons in 2023.
- BR production totaled 4.2 million tons worldwide in 2023.
Production Statistics Interpretation
Amidst global production of 15.4 million tons, the synthetic rubber industry reveals a world map of strategic dependence, with China decisively claiming more than a third of the planet’s supply while nations from sanction-hit Russia to burgeoning Vietnam tenaciously hold their ground, proving the world's wheels, seals, and belts are powered by a surprisingly geopolitical polymer.
Trade and Exports
- Global synthetic rubber exports totaled 8.7 million tons in 2023.
- China exported 1.2 million tons of synthetic rubber in 2023.
- EU synthetic rubber exports valued at USD 4.5 billion in 2023.
- U.S. exported 450,000 tons of synthetic rubber in 2023.
- Japan's synthetic rubber exports grew 4.1% to 850,000 tons in 2023.
- South Korea exported 1.1 million tons in 2023.
- Singapore's synthetic rubber re-exports at 750,000 tons in 2023.
- Germany's exports of synthetic rubber reached 550,000 tons in 2023.
- Russia's synthetic rubber exports fell 15% to 650,000 tons in 2023.
- Thailand exported 280,000 tons of synthetic rubber in 2023.
- India's synthetic rubber exports up 12% to 150,000 tons in FY2023.
- Netherlands re-exported 420,000 tons in 2023.
- Belgium's synthetic rubber exports at 380,000 tons in 2023.
- Iran's exports reached 180,000 tons in 2023.
- Saudi Arabia exported 250,000 tons in 2023.
- Indonesia's exports grew to 160,000 tons in 2023.
- France exported 220,000 tons of synthetic rubber in 2023.
- Italy's exports at 190,000 tons in 2023.
- Malaysia exported 320,000 tons in 2023.
- Brazil's synthetic rubber exports were 120,000 tons in 2023.
- Turkey exported 95,000 tons in 2023.
- Vietnam's exports up 20% to 110,000 tons in 2023.
- Canada exported 80,000 tons of synthetic rubber in 2023.
- Mexico's exports reached 70,000 tons in 2023.
- Poland exported 60,000 tons in 2023.
- SBR global trade volume was 3.2 million tons in 2023.
Trade and Exports Interpretation
The global rubber band snapped into a fiercely competitive shape in 2023, with China firmly stretching its lead as the top exporter while Russia’s supply shriveled and nations like India and Vietnam flexed impressive growth, proving this market is anything but static.
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