DUBLIN—The global synthetic rubber market expanding at a compound annual growth rate of 5.1 percent and on track to reach $45.8 billion by 2023, according to a report being supplied by Research and Markets.

 

The market was valued at $29.1 billion in 2014, found the study, titled "Synthetic rubber market for tires, industrial goods, footwear, and other end-users – global industry analysis, size, share, growth, trends and forecast 2015-23."

 

Companies mentioned in the report include: Asahi Kasei Corp., China National Petroleum Corp., Sinopec Corp., Dynasol Elastomers S.A., DuPont, Exxon Mobil Corp., Kumho Petrochemical, Lanxess A.G., Sumitomo Chemical Co. Ltd., TSRC Corp., Dow Chemical Co. and Versalis S.p.A.