Enhanced traits as compared to natural rubber, the expansion of the automotive industry, and enhancing the durability of end-products have resulted in boosting the Styrene Butadiene Rubber market.
The Global Styrene Butadiene Rubber (SBR) Market is forecast to reach USD 9,779.5 Million by 2028, according to a new report by Reports and Data. Styrene-Butadiene rubber (SBR) is one of the commonly used synthetic rubber consisting of butadiene and styrene monomers. There are various benefits associated with the use of this synthetic rubber, which are supporting the continuous growth of the market. Some of these mentionable traits are impact strength, excellent resilience, abrasion resistance, high tensile strength, among others. The presence of the mentioned traits have resulted in its wide use in various application including tire manufacturing, footwear, polymer modification, among others. When compared with polybutadiene rubber, SBR can be seen to have advantages like abrasion resistance, blend compatibility, and improved strength, which are resulting in its growing popularity.
The mentioned traits are further enhanced with the help of additives. Apart from tire manufacturing, which is one of the mentionable areas of application of these synthetic rubber, it is also used in mechanical rubber goods, automotive parts, wire, and cable insulation, flooring, belting, among others. When compared to natural rubber, its traits like comparatively better heat aging, enhanced processability, resistance to degradation under heat, and enhanced abrasion resistance. Thus, the presence of such advantages over natural rubber and polybutadiene rubber contributes to the growth rate witnessed by the market.
In regards to region, North America can be seen to occupy a considerable share of the market. The market share held by the region is associated with a well-established automotive sector, expanding healthcare sector and attractive footwear industry, which is supporting the growth of the market in this region.
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Further key findings from the report suggest
The Styrene Butadiene Rubber market held a market share of USD 5,739.4 Million in the year 2020 that is forecasted to grow at a rate of 6.8% during the forecast period.
In context to Raw materials, the Styrene segment held a considerable market share of 25.0% in 2020, with a CAGR of 7.3% during the forecast period. The market share held by the Styrene segment is attributed to the fact that, as natural rubbers, these synthetic rubbers also require a degree of hardness along with bonding and wearing characteristics that can be catered with the help of this raw material, which contributes to the market share held by this segment.
In context to Product, the Emulsion Styrene Butadiene Rubber segment held a larger market share of more than 50.0% in 2020, with a growth rate of 5.7% during the forecast period. The market dominance of the Emulsion Styrene Butadiene Rubber segment is attributed to the wide arena of applications like in flooring adhesives, footwear, tires, food contact & pharmaceutical articles, and light-colored mechanical goods. Its traits like effective abrasion resistance results in its high acceptance among sectors like tire manufacturing industry.
In regards to Application, the Tire segment held the largest market share of 72.0% of the market, with a CAGR of 6.8% during the forecast period. The traits of SBR like high impact strength, excellent resilience, abrasion resistance, high tensile strength results in its extensive application in tire manufacturing, contributing to the market share held by this segment.
In regards to the region, Europe held 22.0% of the market in 2020, with a CAGR of 7.2% during the forecast period. The market share held by the region is resultant of expanding construction industry and well-established automotive sector that supports the growth of the market in this region.
Key participants include Sinopec, Lanxess, Michelin, The Goodyear Tire & Rubber Company, Eastman, JSR Corporation, LG Chemicals, SIBUR, Dynasol Elastomer, and LCY Chemicals.
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For the purpose of this report, Reports and Data have segmented the global Styrene Butadiene Rubber (SBR) market according to Raw materials, Product, Application, and Region:
Raw materials Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
Product Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
Emulsion Styrene Butadiene Rubber
Solution Styrene Butadiene Rubber
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
Adhesive and sealant
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
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