According to BlueQuark Research & Consulting, the global Styrene Butadiene Rubber market is expected to witness a significant growth rate during the forecast period. Factors such as the growing demand for Styrene Butadiene in the tire manufacturing industry attributed to the need for safer and higher performance of tires for better fuel efficiency are driving the Styrene Butadiene market. Its excellent versatility, heat and wear resistance, good aging stability, enhanced abrasion resistance, and low rolling resistance strengthens demand. Furthermore, its extensively used in the manufacturing of hoses, gaskets, belts, and seals. Due to its flex resistance, traction, and shape retention properties, styrene-butadiene rubber is preferred in the footwear industry for manufacturing shoe soles. The booing E-Commerce and E-retail sector has boosted the packaging industry, thus increasing adhesive consumption globally. However, the fluctuations in the crude oil prices for the raw material are expected to hamper the Styrene Butadiene Rubber market growth in the forecasted years.
Styrene-Butadiene is used to manufacture hoses, seals, gaskets, tires, cable insulations, shoe soles, adhesives, and construction materials. It serves various applications like tires, adhesives, footwear, and the automobile industry. The most prominent types of SBR used in various industries are Emulsion SBR and Solution SBR.
The Tire Industry is a prime consumer of Styrene Butadiene rubber globally and is expected to drive the future market. The Styrene Butadiene rubber's excellent versatility, excellent heat and wear resistance, good aging stability, enhance abrasion resistance, and low rolling resistance make it a preferred choice for tire manufacturers globally. The rising concern amongst people regarding safety in automobiles and the increasing demand for high-performance tires for vehicles to improve fuel efficiency, increasing the demand for styrene-butadiene rubber. The increasing population and rapid urbanization have increased the sales of automotive vehicles globally, driving the tire industry. Due to the rapid urbanization in emerging countries like China and India, commercial vehicles such as trucks, tractors, and trailers are on the surge. Furthermore, the automotive industry is experiencing a boom in the electric vehicle market. The environmental awareness amongst citizens coupled with the government offering subsidies on its purchase further propels the tire industry. Thus, the increasing tire and construction material demand is all set to propel the future Styrene-Butadiene rubber market. People's increasing expenditure and demand for high-performance sports footwear further propel the global market for Styrene Butadiene Rubber.
The global Styrene Butadiene market was found to be consolidated. The industry's major global players were Zeon Corporation , ARLANXEO Holding B.V. , Kumho Petrochemicals , L.G. Chem , JSR Corporation , TSRC Corporation , Lion Elastomers , Reliance Industries Limited Trinseo , and Goodyear Rubber Company , among others.
The Asia Pacific is expected to be the largest market for Styrene Butadiene in the forecasted year. Owing to the increasing population in the region, the demand for automotive vehicles is increasing in demand. With the rapid industrialization in the region, the demand for heavy-duty vehicles for commercial purposes is also increasing. Since China's growth rate had been impressive in the last decades, the following decade is also expected to witness the same rise, making China a leader in Styrene Butadiene demand. Further, China has the most prominent automotive industry and is expected to consolidate its position as a prime SBR market. China's E.V. sales exceeded 1.3 million, representing 41% of global E.V. sales in 2020, depicting the region's automotive boom. The rising demand for adhesives fueled by the surging packaging industry attributed to the E-Commerce and E-Retail boom has increased the demand for styrene butadiene in the Asia Pacific region.
JSR Corporation launched a new Synthetic Butadiene Rubber with significantly improved mechanical strength, wear resistance, and durability for high-performance tires.
ARLANXEO , a leader in Styrene Butadiene production, has commenced operations in India from 1st January 2021, hoping to enhance further ARLANXEO 's presence in one of the most promising growth regions.
Global Styrene Butadiene Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Styrene Butadiene market by segmenting based on the Type (Emulsion SBR, Solution SBR), Application (Tires, Adhesives, Footwear, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market share, market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.