Australia & New Zealand Synthetic Rubber Market, Revenue

australia and new zealand dominate the synthetic rubber market in the asia pacific region, accounting for a significant share of the market revenue in 2019. the demand for synthetic rubber has been steadily increasing due to the growing automotive and construction industries in these countries. australia is one of the major contributors to the synthetic rubber market in the region. the country has a well-developed automotive industry, which is a major end-user of synthetic rubber. with the increasing demand for vehicles in the country, the demand for tires, one of the major applications of synthetic rubber, has also been on the rise. the construction industry in australia has also been a major consumer of synthetic rubber, owing to its use in products such as sealants, adhesives, and roofing materials. moreover, the country's focus on sustainability has led to the use of synthetic rubber in alternative building materials, thus further driving market growth. similarly, new zealand has also witnessed significant growth in the synthetic rubber market. the country's thriving automotive industry and increasing government investment in infrastructure development have been major factors driving the demand for synthetic rubber. moreover, the growing awareness and adoption of sustainable construction practices have also led to the use of synthetic rubber in environmentally friendly building materials in the country. the demand for synthetic rubber in these countries is expected to continue to grow in the coming years, driven by the expanding automotive and construction sectors. construction projects such as road development, building renovations, and new infrastructure developments will further drive the demand for synthetic rubber, especially in the tire and roofing materials segments. the increasing investments in renewable energy projects in both countries are also expected to create new opportunities for the synthetic rubber market. australia and new zealand are also major exporters of synthetic rubber, with a strong presence in the global market. this is leading to the growth of the synthetic rubber market and contributing to the revenue generated. the governments of both countries are also actively promoting the use of synthetic rubber in various industries and are encouraging research and development activities to further improve and expand its applications. in conclusion, australia and new zealand are key players in the synthetic rubber market in the asia pacific region. the growing demand for synthetic rubber in various industries, along with government support, are expected to drive the market revenue in these two countries in the coming years.