3rd October 2019 – 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.
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.
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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.
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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