The global styrene butadiene rubber industry is projected to experience significant growth, with an anticipated healthy CAGR of 5.5% from 2024 to 2034. The market is expected to reach USD 11.5 billion by 2024 and surpass USD 19.7 billion by 2034.
According to historical data from Future Market Insights (FMI), the sales of styrene-butadiene rubber grew at a CAGR of 3.8% between 2019 and 2023. This growth was driven by increasing applications in industries such as tires, footwear, and polyurethane adhesives. The rising demand for synthetic and processed rubber is predicted to further boost styrene-butadiene sales.
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The automotive tire industry is increasingly favoring synthetic rubber over natural rubber, which is expected to significantly drive growth in the styrene butadiene rubber market. In recent years, the use of synthetic rubbers like styrene-butadiene has surged due to technological advancements and expanding applications in the industrial and automotive sectors. Supported by these factors, FMI forecasts that styrene butadiene rubber sales will reach USD 18,079.6 million by 2032.
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 inclining 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.
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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
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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 by registering a growth of 6.3% throughout the forecast period.
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
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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