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Synthetic Rubber Manufacturing in China Industry Data and Analysis
China is now the world's largest producer and consumer of synthetic rubber. The Synthetic Rubber Manufacturing industry in China is expected to generate $29.2 billion in revenue in 2024, up 6.9% from 2023. Over the past five years through 2024, industry revenue has grown at an annualized 7.2%. This expansion is largely due to the development of the downstream Automobile Manufacturing industry, a key consumer of synthetic rubber tires.Synthetic rubber output is expected to increase by 3.0% in 2024, to 9.4 million tons. Industry exports are expected to reach $1.9 billion in 2024, and accounting for 6.5% of total industry revenue. Industry imports are expected to reach $8.7 billion in 2024, and accounting for 24.1% of domestic demand, down from 26.6% of domestic demand in 2019.Over the past five years through 2024, the number of industry enterprises has declined at an annualized rate of 1.0% to reach 330 enterprises in 2024, mainly due to the elimination of excess production capacity. Decrease in industry enterprises is anticipated to continue over the next five years. The industry's barriers to entry will likely rise as environmental protection regulations increase, and technical level improves due to the higher requirements on product performance from downstream industries.Industry revenue is forecast to increase by an annualized 4.5% over the next five years, reaching $36.4 billion by 2029. Steady revenue growth in the Automobile Manufacturing industry in China will likely continue to support industry demand. In particular, higher requirements on product performance from downstream industries and higher environmental standards for tire exports are forecast to boost demand for high-end synthetic rubber.
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What's included in this industry analysis
IBISWorld's research coverage on the Synthetic Rubber Manufacturing industry in China includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released May 2024.
About this industry
What's this industry report about?
The Synthetic Rubber Manufacturing industry in China operates under the industry code 2652. Industry operators manufacture synthetic or artificial rubber and polymer elastomer. Related terms covered in the Synthetic Rubber Manufacturing industry in China include styrene butadiene rubber (sbr), butadiene rubber (br) and elastomer.
What's included in this industry?
Products and services covered in Synthetic Rubber Manufacturing industry in China include Styrene butadiene rubber, Butadiene rubber and Styrene-butadiene-styrene thermoplastic elastomer.
What companies are included in this industry?
Companies covered in the Synthetic Rubber Manufacturing industry in China include China Petroleum & Chemical Corporation, PetroChina Company Limited and TSRC Corporation.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Synthetic Rubber Manufacturing industry in China.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Synthetic Rubber Manufacturing industry in China.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Synthetic Rubber Manufacturing industry in China.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Synthetic Rubber Manufacturing industry in China. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Synthetic Rubber Manufacturing industry in China. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Synthetic Rubber Manufacturing industry in China. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Synthetic Rubber Manufacturing industry in China. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Synthetic Rubber Manufacturing industry in China.
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Frequently Asked Questions
What is the market size of the Synthetic Rubber Manufacturing industry in China in 2026?
The market size of the Synthetic Rubber Manufacturing industry in China is $29.2bn in 2026.
How many businesses are there in the Synthetic Rubber Manufacturing industry in China in 2024?
There are 330 businesses in the Synthetic Rubber Manufacturing industry in China, which has declined at a CAGR of 1.0 % between 2019 and 2024.
How may import tariffs affect the Synthetic Rubber Manufacturing industry in China?
The Synthetic Rubber Manufacturing industry in China is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Synthetic Rubber Manufacturing industry in China?
The Synthetic Rubber Manufacturing industry in China is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Synthetic Rubber Manufacturing industry in China grown or declined over the past 5 years?
The market size of the Synthetic Rubber Manufacturing industry in China has been growing at a CAGR of 7.2 % between 2019 and 2024.
What is the forecast growth of the Synthetic Rubber Manufacturing industry in China over the next 5 years?
Over the next five years, the Synthetic Rubber Manufacturing industry in China is expected to grow.
What are the biggest companies in the Synthetic Rubber Manufacturing industry in China?
The biggest companies operating in the Synthetic Rubber Manufacturing industry in China are China Petroleum & Chemical Corporation, PetroChina Company Limited and TSRC Corporation
What does the Synthetic Rubber Manufacturing industry in China include?
Styrene butadiene rubber and Butadiene rubber are part of the Synthetic Rubber Manufacturing industry in China.
Which companies have the highest market share in the Synthetic Rubber Manufacturing industry in China?
The company holding the most market share in the Synthetic Rubber Manufacturing industry in China is China Petroleum & Chemical Corporation.
How competitive is the Synthetic Rubber Manufacturing industry in China?
The level of competition is high and increasing in the Synthetic Rubber Manufacturing industry in China.
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