The liquid synthetic rubber market is set to witness promising growth owing to the increasing demand for liquid butadiene, liquid isoprene in applications such as tire manufacturing, sealants & coatings, and adhesives, among many others. Synthetic rubber are generally artificially produced materials having properties which are similar to natural rubber. These are made from petrochemical feedstocks.
Synthetic rubber performs exceptionally well in extreme temperatures owing to excellent heat-aging and heat resistance qualities. Further, the synthetic material can be utilized in the production of numerous rubber applications such as molded rubber products, rubber gaskets, extruded rubber products, and rubber seals and tubing. In comparison to natural rubber, the aforementioned properties make synthetic rubber an ideal material in rubber applications.
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Liquid synthetic rubber is a liquid polyurethane casting compound which showcases exceptional flow properties. Liquid synthetic rubber further displays exceptional properties for tooling applications and is wear and tear resistant as well. Liquid synthetic rubber is commonly used on casting, rollers, moldings, fixtures, damaged rubber, ducting, gaskets, noise reduction, bins, expansion joints, linings, conveyor belting, and mountings & blocks.
The liquid synthetic rubber market is bifurcated in terms of product, application, and regional landscape.
In terms of application, the overall liquid synthetic rubber market is categorized into polymer modification, tire manufacturing, industrial rubber manufacturing, adhesive, and others. Polymer modification will experience a CAGR of 2.5% over the estimated time period owing to increasing material experimentation and rising research & development expenditure from large companies. The others segment will grow at a CAGR of more than 3.1% over the forecast timeframe.
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From a regional frame of reference, LATAM, in terms of volume, will experience a CAGR of 3.0% over the forecast timeframe owing to rising automotive sales. In the past few years, Mexico has become one of the key destinations for investments from all kinds of manufacturers, but mainly from automakers and suppliers. With improvements in the region's educational system, the automakers as well as suppliers can easily rely on a local labor pool of trained engineers, thereby driving the automotive sector in the region.
In fact, the increasing list of financial and strategic advantages for parts suppliers and manufacturers is rapidly reinforcing Mexico's position as a one of the key players in the global automotive industry. These factors will further increase product deployment across Latin America automotive industry.
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