Global Styrene-Butadiene Rubber (SBR) Market is segmented By Type (Emulsion SBR, Solution SBR), By End-User (Tire, Footwear, Construction, Polymer modification, Adhesives & Sealants Industries, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Styrene Butadiene Rubber Market Overview
(154 pages) A report by DataM Intelligence estimates the Global Styrene-Butadiene Rubber (SBR) market to grow at a high CAGR Of 3.9% during the forecast period 2024- 2031. The market is expected to grow due to increasing demand from Tire, Footwear, Construction, Polymer modification, Adhesives & Sealants Industries. The competitive rivalry intensifies with Trinseo, JSR Corporation., Zeon Corporation, and others operating in the market.
The global styrene butadiene rubber (SBR) market plays a significant role in various industries, including automotive, construction, footwear and adhesives. The market's growth can be attributed to the rising demand and opportunities for tires, especially in emerging economies.
As per the International Rubber Study Group, global tire production reached a record high of around 3.2 billion units in 2020. The tire segment dominated the end-user with a major market share of over 28%. Similarly, Asia-Pacific stands out as the dominant player with over 30% of the market share.
Styrene Butadiene Rubber Market Scope
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Metrics |
Details |
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CAGR |
3.9% |
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Size Available for Years |
2022-2031 |
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Forecast Period |
2024-2031 |
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Data Availability |
Value (US$) |
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Segments Covered |
Type, End-User, and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
Asia-Pacific |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Styrene Butadiene Rubber Market Dynamics
The Growing Vehicle Production and Stringent Regulations Regarding Tire Labeling and Fuel Efficiency
The global automotive sector has been witnessing steady market growth, with rising vehicle production and sales. According to OICA statistical data, global automotive production reached increased to 8.5 million units in 2022 from 8.02 million units in 2021, showcasing the immense market potential for styrene butadiene rubber.
Moreover, governments worldwide have implemented stringent regulations regarding tire labeling and fuel efficiency. Styrene butadiene rubber is extensively used in tire manufacturing due to its excellent abrasion resistance, good traction, and durability. Therefore, the growing vehicle production and stringent regulations regarding tire labeling and fuel efficiency act as major market drivers for the global styrene butadiene rubber market.
Fluctuations In Raw Material Prices
One of the major restraints in the global styrene butadiene rubber market is the volatility of raw material prices. Styrene butadiene rubber is derived from the combination of styrene and butadiene monomers, both are petroleum-based commodities. Fluctuations in crude oil prices directly affect the prices of these raw materials, making the styrene butadiene rubber market susceptible to price volatility. According to government statistical data, the impact of raw material price fluctuations is evident.
For instance, the U.S. Energy Information Administration (EIA) reported that the average annual price of West Texas Intermediate (WTI) crude oil increased from US$ 43.33 per barrel in 2020 to US$ 61.41 per barrel in 2021, reflecting a significant price hike. Such price variations impact the cost of raw materials used in SBR production, ultimately influencing the pricing and profitability of SBR manufacturers.
Styrene Butadiene Rubber Market Segmentation Analysis
The global styrene butadiene rubber market is segmented based on type, end-user and region.
Excellent Abrasion Resistance, Low Rolling Resistance and Good Grip Properties Coupled With The Growth In The Automotive and Tire Industries
E-SBR is a type of synthetic rubber widely used in the tire industry due to its excellent abrasion resistance, low rolling resistance, and good grip properties. Emulsion Styrene Butadiene Rubber (E-SBR) has experienced significant growth in the global styrene butadiene rubber market. Government statistical data reflects the rising demand and growth of E-SBR in the global market.
According to official reports, the production and consumption of E-SBR have witnessed substantial increases over the past years. For instance, data from the Ministry of Industry and Information Technology of China shows that E-SBR production in the country grew by 8% in 2020 compared to the previous year. Furthermore, the demand for E-SBR is projected to continue rising, supported by the growth in the automotive and tire industries.
Styrene Butadiene Rubber Market Geographical Share
Growing Investments, Government Support, and Expanding Automotive and Tire Manufacturing Sectors
Asia-Pacific, comprising countries such as China, India, Japan, South Korea and ASEAN nations, holds a dominant position in the global styrene butadiene rubber market. The region's expanding automotive and tire manufacturing sectors are major contributors to the increased demand for styrene butadiene rubber.
According to OICA, Asia-Pacific accounted for a significant share of global automobile production, with China leading as the largest automotive producer in the region producing almost 2.6 million units in 2022. Government initiatives and policies have played a crucial role in promoting the growth of the styrene butadiene rubber market in Asia-Pacific.
For instance, China's "Made in China 2025" initiative aims to bolster domestic production capabilities, enhance product quality and foster innovation across various industries, including rubber. The respective initiative is an example of various government programs that spurred investment in the development of advanced styrene butadiene rubber grades, supporting the growth of the market in the Asia-Pacific.
Styrene Butadiene Rubber Companies
The major global players include LANXESS, Kumho Petrochemical, Trinseo, JSR Corporation, Synthos S.A, Taiwan Synthetic Rubbers, Versalis S.P.A., Lion Elastomers, Zeon Corporation and RESINEX Group.
COVID-19 Impact on Styrene Butadiene Rubber Market
COVID Impact
The outbreak of the COVID-19 pandemic had far-reaching implications across various industries, including the styrene butadiene rubber (SBR) market. The COVID-19 pandemic led to disruptions in global supply chains, factory shutdowns, and reduced consumer spending, which significantly impacted the demand for SBR.
As several industries, including automotive, construction, and manufacturing, faced slowdowns, the demand for styrene butadiene rubber in these sectors also declined. Further, COVID-19-related lockdowns and restrictions resulted in disrupted production activities and supply chain challenges. Factory closures and a reduced workforce affected the production and availability of styrene butadiene rubber, leading to supply shortages and delays.
AI Impact
The global styrene butadiene rubber (SBR) market plays a pivotal role in various industries, including automotive, construction, and footwear. In recent years, the emergence of artificial intelligence (AI) has significantly transformed industries worldwide and the SBR market is no exception. For instance, AI-powered technologies have revolutionized manufacturing processes in the SBR market.
Machine learning algorithms and predictive analytics optimize production parameters, leading to improved efficiency, reduced waste, and enhanced product quality. Manufacturers utilize AI systems to monitor and control various variables, such as temperature, pressure and chemical compositions, resulting in consistent and high-quality SBR production. As AI continues to advance, it is expected to further revolutionize the SBR industry, enhancing competitiveness and sustainability while meeting the evolving demands of various sectors that rely on SBR materials.
Russia-Ukraine War Impact
The ongoing conflict between Russia and Ukraine has had far-reaching consequences, including significant impacts on various industries. The global styrene butadiene rubber (SBR) market is no exception. The Russia-Ukraine conflict has disrupted the supply chain of styrene butadiene rubber, which heavily relies on raw material imports from the region.
Ukraine, specifically, is a major producer of butadiene, a key component of styrene butadiene rubber production. The conflict has caused logistical challenges, border disruptions, and increased geopolitical tensions, leading to supply chain disruptions and uncertainty in the styrene butadiene rubber market.
Key Developments
- In 2021, Lanxess, a German specialty chemicals company, launched Buna VSL 1034, a new grade of SBR specifically designed for high-performance tires. The respective styrene butadiene rubber grade offers improved wet grip, fuel efficiency and wear resistance, meeting the demands of the tire industry for enhanced performance and sustainability.
- Versalis, a subsidiary of Eni, an Italian multinational oil and gas company, introduced Dutral CO in 2021. Dutral CO is a new generation of functionalized styrene butadiene rubber, specifically developed for adhesives, sealants and coatings. The respective styrene butadiene rubber grade provides excellent adhesion properties, chemical resistance and mechanical performance.
- Trinseo, an American materials company, launched Stereon 1 SBR in 2020, targeting the global market for tires, automotive components and other rubber applications. Stereon 1 SBR offers a balance of high-performance properties, such as abrasion resistance, tear strength and processing capabilities.
