Establishments primarily engaged in manufacturing synthetic rubber by polymerization or copolymerization. An elastomer for the purpose of this classification is a rubber-like material capable of vulcanization, such as copolymers of butadiene and styrene, or butadiene and acrylonitrile, polybutadienes, chloroprene rubbers, and isobutylene-isoprene copolymers. Butadiene copolymers containing less than 50 percent butadiene are classified in Industry 2821. Natural chlorinated rubbers and cyclized rubbers are considered as semifinished products and are classified in Industry 3069.
The synthetic rubber (vulcanizable elastomers) industry, classified under NAICS 2822, is witnessing significant changes influenced by evolving market dynamics and technological advancements. A notable trend is the increased focus on sustainability and environmental impact. Companies are investing heavily in the development and production of bio-based and recyclable synthetic rubbers to meet stringent environmental regulations and consumer demand for eco-friendly products.
Technological innovation is another key trend, with advancements in material science leading to the creation of high-performance elastomers that offer superior durability, heat resistance, and elasticity. These new materials are especially important for high-demand applications in the automotive and aerospace sectors.
Additionally, the growing adoption of electric vehicles (EVs) has boosted the demand for specialized rubber products designed for EV components, such as battery seals and high-performance tires. This trend is expected to drive further innovation and specialization within the industry.
Looking ahead, the market is forecasted to experience moderate growth, driven by rising demand in emerging markets and continuous advancements in rubber technology. However, supply chain disruptions and fluctuating raw material costs may pose challenges. Companies that can innovate and adapt to these changing conditions are likely to thrive.
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.