Synthetic rubber market forecast at $41.7 billion by 2029
The global synthetic rubber market size was valued at USD 28.89 billion in 2021. The market is projected to grow from USD 29.86 billion in 2022 to USD 41.73 billion by 2029, exhibiting a CAGR of 4.9% during the forecast period according to Fortune Business Insights. The global COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of 8.0% in 2020 as compared to 2019.
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