Styrene Butadiene Rubber (SBR) Market - Estimated To Reach at USD 14.74 billion in 2026
Posted: Oct 25, 2018
The global Styrene Butadiene Rubber (SBR)market generated USD 9.05 billion in 2017 and is anticipated to grow at a CAGR of 4.4% during the forecast period.
SBR is a synthetic polymer and among the largest-volume produced rubber globally. This product is a result of copolymerization of styrene and butadiene in a specific ratio. SBR is produced in two major grades that include, emulsion SBR (ESBR) and solution SBR (SSBR).
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Emulsion SBR accounts for a higher share of market but is losing grounds to SSBR, as the later is better suited to cater to the stringent specifications of high-performance tires. However, SBR of the both grades are highly resistant to abrasion and heat aging but has lower hot tear strengths as compared to some of the substitutes.
The global Styrene Butadiene Rubber (SBR) market is primarily driven by it high consumption in the automotive industry, where tires are the dominant segment. Real GDP growth hovering in some of the Asia Pacific countries, steady growth of the industries in the United States, and the economic developments in the eurozone to support manufacturers’ earnings are some of the crucial factors that have supported the growth of global auto industry and have led to higher consumption of SBR.
Changing consumer lifestyle in tandem with the increased spending on modern commodity products have also enhanced the consumption of SBR in other markets such as footwear, extruded rubber goods, industrial hoses, non-tire automotive applications, and other consumer goods.
Strong economic performance, consumer preference for modern & sustainable products such as electric vehicles, falling value of old diesel cars, and steady growth of many middle-income countries across the world are some of the vital growth forces for the end-use rubber industries.
ESBR witnessed decline in most of the Styrene Butadiene Rubber (SBR) market, including the United States, South Korea, Western Europe, Central Europe, and Japan, losing the market to SSBR. The global consumption of SSBR has witnessed a substantial increase in the past five years with faster capacity additions globally. The mature markets such as Japan, Canada, and Europe are anticipated to witness limited growth rate.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Styrene Butadiene Rubber (SBR) Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Competitive Landscape and Key Vendors
Asia Pacific is the largest regional player for the global Styrene Butadiene Rubber (SBR) market. Though there was a slight decline witnessed in the overall market in the past five years on account of decline of the largest consumer, China. The Northeast Asia, especially Taiwan and Indian subcontinent witnessed the most significant growth during this period.
The global styrene butadiene rubber (SBR) market comprises of large multinational and domestic companies. The industry is fragmented and highly competitive in tandem with the high degree of integration across the manufacturing and distribution stage.
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Some of the major Styrene Butadiene Rubber (SBR) market players include Sinopec, LANXESS, China National Petroleum Corporation (CNPC), Kumho Petrochemical, Sibur, JSR Corporation, Trinseo, Eastman Chemical Corporation, Asahi Kasei Chemical Corporation, and Ashland Inc.
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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.