The global styrene butadiene rubber Industry is expected to grow at a 5.5% CAGR between 2022 and 2032, offering significant absolute dollar potential. The market is predicted to be worth more than US$ 18,079.6 million by 2032 and US$ 10,584.3 million by 2022.
According to FMI’s historical data, styrene-butadiene rubber sales expanded at a CAGR of 5.2% between 2016 and 2021, owing to the rising use of applications such as tires, footwear, and polyurethane adhesives. The growing demand for synthetic and processed rubber is predicted to drive up sales of styrene-butadiene.
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In the automobile tire business, end-use industries are fast shifting toward synthetic rubber over natural rubber, which is likely to drive growth in the styrene butadiene rubber market. Because of technological breakthroughs and expanding uses in the industrial and automotive sectors, the use of synthetic rubbers such as styrene-butadiene has seen tremendous increase in recent years. Future Market Insights (FMI) forecasts styrene butadiene rubber sales to reach US$ 18,079.6 million in 2032, based on these variables.
Key Factors
Because of its great features such as excellent heat resistance, low rolling resistance, wear resistance, and abrasion resistance, styrene-butadiene rubber is becoming the consumer’s preferred option. Therefore, end-users are inclining toward styrene butadiene rubber in the automotive industry. These factors are projected to drive the global styrene butadiene rubber market in the approaching years.
The demand for styrene butadiene rubber is expected to rise over the projected period (2022-2032) due to an increase in automotive sales worldwide. According to the segmentations, the solution SBR segment is expected to expand the fastest during the forecast period. Demand for SBR solutions in the footwear application is expected to rise, boosting market sales.
According to studies, styrene-butadiene rubber is the most processed and synthetically made rubber. This product is used in the manufacture of products and parts of products such as vehicle tires, mechanical rubber equipment or machine parts, and shoe soles, among others. Rising demand from the tire manufacturing industry is one of the major significant reasons likely to drive its growth in the styrene butadiene rubber (SBR) market.
Furthermore, rising demand for new autos and replacement tires, as well as increased interest in synthetic rubber over industrial rubber, are likely to drive market expansion. The inherent advantages of styrene butadiene rubber in terms of stability and physical qualities drive market expansion.
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Competitive Landscape
Leading manufacturers of styrene butadiene rubber primarily focus on developing sustainable butadiene in order 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.
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
Key Segmentation
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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