The global styrene butadiene rubber market is anticipated to create an absolute dollar opportunity by exhibiting a healthy CAGR of 5.5% between 2024 and 2034. The market is expected to reach USD 11.5 billion in 2024 and is anticipated to surpass USD 19.7 billion by 2034.
As per the historic analysis of FMI, styrene-butadiene rubber sales grew at a CAGR of 5.2% between 2016 and 2021, owing to the use of rising applications including tires, footwear, and polyurethane adhesives among others. The rising demand for synthetic and processed rubber is predicted to improve the sales of styrene-butadiene.
End-use industries are rapidly inclining towards synthetic rubber over natural rubber in the automotive tire industry which is expected to bolster growth in the styrene butadiene rubber market. Over recent years, the use of synthetic rubbers such as styrene-butadiene has witnessed impressive growth due to technological advancements coupled with rising applications in the industrial and automotive sectors. Backed by these factors, Future Market Insights (FMI) expects styrene butadiene rubber sales to reach US$ 18,079.6 Mn in 2032.
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Key Factors
The styrene-butadiene rubber is becoming the consumer’s preferable choice because of its impeccable properties such as excellent heat resistance, low rolling resistance, wear resistance, and abrasion resistance. Therefore, end-users are inclined toward styrene butadiene rubber in the automotive industry. These above factors are expected to fuel the expansion of the global styrene butadiene rubber market in the coming years.
Due to the rise in sales of automobiles all over the world, the demand for styrene butadiene rubber is predicted to surge over the forecast period (2022-2032). As per the segmentations, the solution SBR segment is likely to witness the fastest growth during the forecast period.
Demand for solution SBR is predicted to increase in the footwear application, fueling the sales in the market. As per the studies, styrene-butadiene rubber is considered to be the most processed and synthetically manufactured rubber.
The production of products and parts of products including car tires, mechanical rubber equipment or machine parts, and shoe soles, among others, are all made of this product. One of the major key factors expected to drive its growth in the styrene butadiene rubber (SBR) market is rising demand from the tire manufacturing industry.
In addition to that, surging demand for new automobiles and replacement tires along with the rising interest for synthetic rubber over industrial rubber is expected to fuel market growth. Styrene butadiene rubber has inherent advantages in terms of stability and physical properties, driving growth in the market.
Key Companies Profiled
- Asahi Kasei
- LANXESS
- MICHELIN
- China Petroleum & Chemical
- ARLANXEO
- Zeon Corporation
- LG Chem
- Trinseo
- KUMHO PETROCHEMICAL
- Goodyear Rubber Company
- Versalis S.p.A.
- Chemtura
- JSR
- Bridgestone
- Polimeri Europa
- Lion Elastomers
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Competitive Landscape
Leading manufacturers of styrene butadiene rubber primarily focus on developing sustainable butadiene to avoid being impeded by stringent government rules that restrict the use of chemically manufactured butadiene in various regions. To efficiently fit into the increasingly popular circular economy trends, SBR manufacturers are focusing on achieving sustainability in their business models.
Styrene Butadiene Rubber Market by Category
By Type:
- Emulsion SBR (E-SBR)
- Solution SBR (S-SBR)
By Application:
- Tires
- Footwear
- Gaskets & Hoses
- Adhesives & Sealants
- Conveyor Belts
- Electric
By Region:
- North America
- Latin America
- East Asia
- Europe
- South Asia & Pacific
- Middle East & Africa
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More Insights into the Styrene Butadiene Rubber Market
The U.S. is considered to dominate the global styrene butadiene rubber market in the North American region. Due to the rising popularity of electric vehicles, the overall sales of automobiles in the U.S. are expected to spur over the estimation period. This will also surge the demand for tires, which will in return boost sales of styrene butadiene rubber and styrene butadiene rubber latex.
Styrene butadiene rubber suppliers in the U.S. will also be benefitted from lucrative business opportunities brought on by the presence of leading industry players in the country. These aforementioned factors are anticipated to boost the growth in the U.S. styrene butadiene rubber market during the forecast period.
Attributed to the strict government initiatives and thriving automotive industry has encouraged the growth of the manufacturing sector, opportunities for suppliers of styrene butadiene rubber are expected to boost the market. Styrene butadiene rubber (SBR) demand witnessed a noticeable increase in China registering a growth of 6.3% throughout the forecast period.
About Future Market Insights, Inc.
Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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