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Global Synthetic Rubber Market
----------------------------------------------------2014
Executive Summary
Synthetic rubber is chemically manufactured elastomer which is produced by the polymerization of two or more petroleum-derived
monomers. Synthetic rubber plants were built after 1945 and since then it has maintained the lead over natural rubber. Polybutadiene
rubber (BR) and Styrene Butadiene Rubber (SBR) are the two most important types of synthetic rubber and Butadiene is the primary
feedstock for its production. Industrial players of synthetic rubber operate in the marketplace on the basis of low manufacturing cost,
quality, technology and most importantly price to stay ahead.
The synthetic rubber industry produces a variety of products that are used by the fabrication industries. Most of the output of synthetic
rubber industry is taken up by tire industries thus categorizing this industry as one of the predominant users of synthetic rubber. Apart
from tires, synthetic rubber has applications in various segments like shoes soles, high-speed railway, aviation etc.
The key factors driving the growth of the synthetic rubber industry include accelerating automotive industry, technological advancement
and slump in raw material prices. Some of the noteworthy trends and developments in this industry are increasing demand for high
performance material, declining prices, rigorous competition and improved supply. However, the expansion of global synthetic rubber
industry is hindered by rising environmental concerns and depletion of fossil fuels.
The report “Global Synthetic Rubber Market” provides an in-depth analysis of the production, consumption and capacity of global
synthetic rubber market with focus on its segments including: Polybutadiene rubber and Styrene Butadiene Rubber. The major trends,
growth drivers as well as issues being faced by the industry are being presented in this report. The four major players in the industry,
Lanxess, Good Year, Kumho Petrochemical Co. and Exxon Mobil Corp are being profiled.
By combining SPSS Inc.‟s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of
the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS
Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several
independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and
tests.
Major use of synthetic rubber is in the manufacturing of tires for most of the vehicles. Other uses include
shoe soles, rubber gloves, orthopedic braces, etcetera.
• From ….. million tons in year 2007, the production has grown to
…. million tons in year 2013, depicting growth of …%. After
representing a constant production volume of …. million tons in
2011 and 2012, the production volume of synthetic rubber inclined
by …% to reach … million tons at the end of 2013.
Global Synthetic Rubber Production (2007-2013)
• Moving in line with the production trend, the consumption of the
synthetic rubber has also increased considerably during the last
decade. The global synthetic rubber consumption has increased by
…% to … million tons in 2013, from … million tons in 2012.
2013
2012
2011
2010
2009
2008
2007
Million Tons
• The top six players accounted for about ….% of the market in
2013. KKPC was the leading market participant with a market
share of ….% at the end of 2013. Goodyear represented modest
….% share, followed by Lanxess and LG Chem with market share
of ….% and …% respectively
Global Synthetic Rubber Consumption (2007-2013)
Million Tons
BR Market Share by Production Capacity (2013)
Kumho Petrochemical
Lanxess
Bridg/Firestn
Others
Goodyear
LG Chem
Sahnding Yuhuang
2007
2008
2009
2010
2011
2012
2013
Polybutadiene Rubber (BR) and Styrene Butadiene Rubber (SBR), which includes ESBR and SSBR, are
the key synthetic rubbers as they are largely used for the manufacturing of automotive tires.
China’s Synthetic Rubber Capacity (2008-2013)
Million Tons
• China‟s synthetic rubber capacity has expanded rapidly in recent
years, with CAGR reaching …% in 2008-2013. In 2013, China‟s
synthetic rubber production capacity reached … million tons,
accounting for …% of the global synthetic rubber capacity.
• Asia-Pacific produced more than half of the world‟s synthetic
rubber accounting for …. million tons in 2012, followed by the US
with … million tons. EMEA together produced …. million tons of
synthetic rubber during the mentioned period.
2013
2012
2011
2010
2009
2008
• Bridg/Firestn, accounting for …% of the total market, was leading
in SSBR segment of Styrene Butadiene Rubber market in 2013.
Bridg/Firestn is immediately followed by Michelin which held a
market share of roughly …%. Other key players of SSBR are
Styron, PetroChina Dushanzi PC and Kumho Petrochemical.
SSBR Market Share by Production Capacity (2013)
EMEA
(excl EU27)
EMEA
(EU-27)
Michelin
PetroChina Dushanzi PC
Asahi Kasei Chem.
The US
Bridg/Firestn
Styron
Kumho Petrochemical
Others
AsiaPacific
Million Tons
Synthetic Rubber Production by Region – by Volume (2012)
Butadiene is the most important feedstock to produce a wide variety of synthetic rubber and polymer
resins. The demand of butadiene is chiefly driven by BR and SBR.
• The global production of butadiene increased by … million ton to
reach … million tons in 2013 compared to … million ton production
in 2012 thereby representing an increase of …%. The production is
expected to expand to … million tons by the end of 2015, up by
…%, compared to 2013. High demand and low operating cost has
led the increase in production of butadiene.
Million Tons
Global Butadiene Production (2007-2015E)
• The global butadiene capacity of … million tons was reported at
the end of year 2013. This represented an incline of …%,
compared to … million tons in the previous year. The capacity is
further anticipated to grow by …% to reach … million tons by the
end of 2015, compared to 2013.
2015E
2014E
2013
2012
2011
2010
2009
2008
2007
• In ESBR segment of SBR, KKPC accounted for ….% of the global
capacity in 2013 thereby leading the market. ISP Elastomers, on
the second position, represented …% share. Other major players
of this category include Goodyear, Qilu PC, Fushun PC and
Lanxess.
ESBR Market Share by Production Capacity (2013)
Million Tons
Global Butadiene Capacity (2007-2015E)
Kumho Petrochemical
Goodyear
Fushun PC
Others
ISP Elastomers
Qilu PC
Lanxess Elastomeros do Brasil
2007
2008
2009
2010
2011
2012
2013 2014E 2015E
The key factors driving growth of the global synthetic rubber industry include accelerating automotive
industry, technological advancement and slump in the raw material prices.
Global Synthetic Rubber Consumption Forecast (2009-2017F)
 An escalating trend has been observed in the global capacity addition of synthetic rubber since 2010. In 2013, … tons of additional capacity
has been recorded, representing an incline of …%, compared to … tons capacity addition in 2012. However, the capacity addition is projected
to reduce by …% in 2015, compared to 2013. In 2014 and 2015, the synthetic rubber industry is anticipated to add … tons and … tons of
additional capacity respectively.
 The consumption of synthetic rubber is poised to grow at a compounded annual growth rate of …% from … million tons in 2014 to … million
tons in 2017. The future growth would mainly be driven by the strengthening fundamentals in the tire industry, oil demand and butadiene
production.
 Among the synthetic rubber types, BR and SBR are the major ones, together constituting …% of the China‟s Synthetic rubber capacity in
2013. Out of the total SBR capacity, ESBR accounted for …% of China‟s SBR capacity and SSBR for …%. BR claimed …% of the total
synthetic rubber capacity of China as the trend of high-performance flat and tubeless radial tires became inevitable. NBR, IIR and EPR
represented …%, … and …% share, respectively, of the total capacity in 2013.
Note: Market attractiveness is inverse of penetration. Low penetration means high attractiveness and vice-versa
2017F
2016F
2015F
2014F
2013
2012
2011
2010
2009
2015E
2014E
2013
2012
2011
2010
2009
2008
Million Tons
„000 Tons
Total Synthetic Rubber Capacity Addition (2008-2015E)