The Synthetic Rubber Market is Estimated to be USD 28.88 Billion in 2017 and is Projected to Reach USD 37.82 Billion by 2022

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The Synthetic Rubber Market is Estimated to Be USD 28.88 Billion in 2017 And is Projected to Reach USD 37.82 Billion By 2022, Registering a CAGR of 5.5% Between 2017 And 2022.

Synthetic rubber is mostly produced from crude oil and natural gas, by the polymerization of monomers. Although used in a wide range of applications, its major application is in tires. There has been a growing demand for synthetic rubber from applications, such as tire, non-tire automotive, footwear, industrial, and others. Environmental regulations related to synthetic rubber may act as a restraint for the synthetic rubber market.

Based on type, the NBR (nitrile butadiene rubber) segment is projected to witness the highest growth during the forecast period. NBR is mostly used in applications where high oil resistance is required. Increasing demand for hoses, belts, and cables in the manufacturing and automotive industries in APAC, is likely to fuel the growth of the NBR segment over the forecast period. Rapid industrialization in China and India is anticipated to drive the demand for NBR in APAC over the next six years.

Read the source article at PR Newswire

Conti sees improved outlook for materials costs

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HANOVER, Germany — Continental A.G.\’s Rubber Group has reduced its estimates for the negative impact of raw materials prices in 2017. In its recently published third quarter results, Continental said it was lowering its forecast for the average price of natural rubber (TSR 20) this year to $1.70 per kilogram from $1.90/kg. Recent declines in […]

The post Conti sees improved outlook for materials costs appeared first on Global Rubber Markets.

Read the source article at Global Rubber Markets News

Smithers Rapra Data Shows Steady Uptick in Global Tire Demand

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Expanding demand in the world tire market is expected across the next five years according to the latest exclusive data from Smithers Rapra.

The Future of Global Tires to 2022 is available for purchase now. Tire and Rubber Association of Canada members can receive a 15% discount on this definitive market strategy tool.

Its new definitive report – The Future of Global Tires to 2022 shows how worldwide 2.24 billion tires will be sold in 2017, with and overall value of $223 billion. Across the next five years the rate of volume demand will fall to 3.4% per year, down from 5.2% in the 5 years preceding. In contrast the rate of value increase will increase from 3.4% to 3.7% per annum reflecting:

  • Stabilisation of raw material pricings
  • The new added value innovation is adding to the industry in developed markets
  • Volume demand increases in transition economies with rising disposable incomes – especially China.

Smithers Rapra’s analysis tracks these trends across all:

  • Tire raw materials
  • Tire type and vehicle
  • Key national and regional geographic markets ,

Production in North America is growing, and outpacing domestic demand, as Asian and European companies continue to shift capacity here to be closer to automotive OEMs, and circumvent potential trade restrictions that some view as more likely with the 2017 change of US administration.

The region’s tire market will reach a value of $39.7 billion in 2017 – 236 million units.

In mature markets demand will be especially strong for materials that enable energy efficiency. For example, continuing improvements in lowering rolling resistance means demand highly dispersible silica (HDS) is set to increase at over 10% per year through to 2022. This will run in parallel to continuing interest in complimentary technologies, such as automated tire pressure monitoring systems (TPMS).

Synthetic Rubber Market Worth 37.82 Billion USD by 2022

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The report “Synthetic Rubber Market by Type (SBR, BR, SBC, EPDM, IIR, NBR), Application (Tire, Non-Tire Automotive, Footwear, Industrial), and Region (North AmericaEuropeAsia PacificSouth America, and Middle East & Africa) – Global Forecast to 2022″ published by MarketsandMarkets™, the market is estimated to be USD 28.88 Billion in 2017 and is projected to reach USD 37.82 Billion by 2022, at a CAGR of 5.5% between 2017 and 2022. The Synthetic Rubber Market is driven by the rising demand for synthetic rubbers in applications such as tire, non-tire automotive, footwear, and industrial.

 

Read the source article at PR Newswire

Conti sees improved outlook for materials costs

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Hanover, Germany – Continental AG’s Rubber Group, which includes Tire Division and ContiTech, has reduced its estimates for the negative impact of rising raw materials prices in 2017.

In its recently-published third quarter results, Continental said it was lowering forecast for the average price of natural rubber (TSR 20) this year from $1.90/kg to $1.70/kg.

Read the source article at European Rubber Journal

More drivers using winter tires in BC than Alberta, Ontario and some other provinces

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Summary A survey has found 60 per cent of drivers in BC are using winter tires, which is more than in a few other provinces More British Columbians are using winter tires than drivers in Alberta, Ontario, Saskatchewan or Manitoba, according to the 2017 Canadian Consumer Winter Tire Study . The results show British Columbians are getting the message, with 60 per cent of drivers here using winter tires.

Read the source article at NEWS 1130

The numbers are in: Canadians really like our SUVs and trucks

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Canada has a population of just over 36 million people; by the close of this year, current annual sales of new cars will be about 2 million. Estimates put used car sales at about three million for the same time period.

We buy a lot of cars.

Light trucks, actually. For all the jabber after the last economic crash a decade ago, the one that took the leasing industry with it, we’ve left behind the promise of subcompact vehicles, become bored with sedans and continue to shun the hybrid and electrics that dominate headlines but little else.

“Sixty-eight to sixty-nine per cent of the market this year is light trucks,” says Dennis DesRosiers, of DesRosiers Automotive Consultants. “In fact, for four of the past 12 months, it’s been over 70 per cent, and this will stay positive for another year, at least.” 

Read the source article at driving.ca

Smithers Rapra Hires New Technical Director

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Smithers Rapra, a leader in rubber, plastics and composites testing expertise, has named Matt Kent as technical director of the Smithers Rapra Tire & Wheel Test Center in Ravenna.

In this position, Kent is responsible for overseeing current force and moment testing operations, staff management and technical decision-making. Kent will also be in charge of the commissioning of a new MTS Flat Trac CT+ system in spring 2018.

Read the source article at Tire Review

Global Mining Tire Market – Competition Forecast & Opportunities, 2012 – 2022

NEW YORKOct. 12, 2017 /PRNewswire/ — Global Mining Tire Market By Vehicle Type (Dump Truck, Wheel Loader, Backhoe Loader, Motor Grader, Bulldozer, and Others), By Demand Category (OEM Vs. Replacement), By Region, Competition Forecast & Opportunities, 2012 – 2022

Read the full report: https://www.reportlinker.com/p05142055

Increasing government plans and programs aimed at boosting mining projects, surging demand for retreaded mining tires and expanding distributor and dealership network by tire manufacturers, coupled with adoption of radial tires due to several features such as their improved fuel efficiency, reduced wear and tear, etc., are some of the factors driving demand for mining tires globally.

Read the source article at PR Newswire

Indonesia: Rubber farmers cry for help

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The government should look seriously into the grievances of rubber farmers who have been complaining about low prices over the last five years. True, the price of rubber, like most other commodities, such as palm oil, cacao and coal, is mainly influenced by global supply and demand, especially for Indonesia, which, as the world’s second…

Read the source article at Global Rubber Markets News