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The global Styrene Butadiene Rubber (SBR) Market size is expected to value at USD 9.9 billion by 2025. The market is subject to witness a substantial growth due to the rise in the demand for original equipment manufacturer (OEM) tires from the automotive industry. Additionally, factors such as longer life span of a tire and a shift in user preference toward high performing tires is expected to complement the growth of styrene butadiene rubber industry over the forecast period.
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Globally, the styrene butadiene rubber market is predicted to grow at a significant CAGR during the forecast period, providing numerous opportunities for market players to invest in research and development in the market. Rise in production of and demand for automobile across the globe is expected to drive market growth in the years to come. Replacement of existing tire due to overuse is estimated to augment market demand for styrene butadiene rubber (SBR) during the forecast period.
Almost 70% of the styrene butadiene rubber (SBR), which is manufactured globally, is utilized for production of tires. At present, synthetic rubber is increasingly replacing natural rubber (NR) in numerous applications mainly due to its stability, and distinctive chemical composition. Moreover, the limited supply of natural rubber is escalating price associated with the product. Thus, substituting natural rubber by styrene butadiene rubber (SBR) has become vital in recent years.
Raw materials required for manufacturing styrene butadiene rubber (SBR) are styrene and butadiene. Growing number of suppliers of these raw materials are present across the entire supply chain network, involving petroleum refining to rubber & plastic manufacturing, thus driving market growth during the forecast period. Styrene butadiene rubber (SBR) manufacturing industry is one of the largest consumers of butadiene, with 30% consummation of total production every year.
Easy availability of raw material and reduced manufacturing cost are predicted to augment market demand for styrene butadiene rubber (SBR). Tire industry is estimated to witness substantial growth owing to the high-scale production of automobile from developed economies across the globe.
S-styrene butadiene rubber (SBR) was one of the fastest growing segments in the styrene butadiene rubber (SBR) industry with substantial revenue generation in the last couple of years. Growing popularity of the SBR market is attributed to its wide range of application in manufacturing and designing of multicolor shoe soles. S-styrene butadiene rubber (SBR) exhibits a smooth texture, thus offering improved quality and longer life span for the products.
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Styrene butadiene rubber (SBR) offers high abrasion resistance and good aging stability, especially when combined with additives. The present scenario is such that more than five million tons of SBR are produced across the globe. As much as 50% of car tires are manufactured from various types of styrene butadiene rubber (SBR). In styrene butadiene rubber (SBR), ratio of styrene and butadiene affects the properties of the polymer. For instance, SBR containing high concentration of styrene leads to harder and less elastic type of synthetic rubber.
The styrene butadiene rubber (SBR) industry is divided by region such as North America, Europe, Asia-Pacific, Latin America, and Africa. North America has shown major growth in recent years owing to the rise in population from Mexico, and Canada, and existence of well-established automotive industry. Asia-Pacific region is predicted to hold the major market share in the styrene butadiene rubber (SBR) market with massive growth in forecast period.
Countries such as India, China, and Singapore are leading the Asia-Pacific’s market with growing automobile sector and significant investment by leading industry players considering potential opportunities in the region. The key players in the styrene butadiene rubber (SBR) industry are Kumho Petrochemical Co., Ltd.,
LanxessAktiengesellschaft Ltd., GoodyearTire & Rubber Company, JSR Co., TSRC Co., Trinseo S.A., Synthos S.A., Lion Elastomers LLC, Ashland Inc., LG Incorporations, Bridgestone Co., Michelin Group, SiburHolding, and Eni S.p.A.
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