Styrene Butadiene Rubber Market Analysis and Industry Forecast 2023

Styrene-Butadiene Rubber Market Overview:

Styrene-Butadiene Rubber (SBR) is the highest volume of general-purpose synthetic rubber. It can be used in similar applications as NR / IR elastomers, except in severe dynamic application due to the inferior fatigue resistance. Typical applications include drive couplings, haul-off pads, conveyor belts, shoe soles and heels, adhesives, roll coverings and car tires (but not truck tires) and various other moulded rubber goods.

Some of the prominent factors that positively influence the growth of the market are increasing automobile production, rising demand for electric cables insulation, and increasing urbanization. Increasing urbanization along with rising per capita disposable income in developed and emerging economies are predicted to drive the growth of the market over the forecast period, 2020 to 2023. High adoption rate along with the increasing consumption of SBR based adhesives & sealants in the construction industry. Moreover, continuous expansion of the automotive sector, as well as shifting manufacturers, focus towards cost-effective vehicles are estimated to fuel the growth of the market during the review period, 2020 to 2023.


Styrene-Butadiene Rubber Market Key Players

Some of the prominent players in the styrene-butadiene rubber industry are China Petroleum & Chemical Corporation (China), KUMHO PETROCHEMICAL (South Korea), LANXESS (Germany), JSR Corporation (Japan), Trinseo (U.S.), Sibur Holding PAO (Russia), Michelin Corporation (France), Bridgestone Corporation (Japan), Reliance Industries Limited (India), and Versalis S.p.A. (Italy), among others.


Styrene-Butadiene Rubber Market Regional Analysis

The Middle East & Africa is estimated to be the largest SBR market followed by North America and Europe due to the strong existence of construction projects. In Europe, Germany, Russia, and Spain are predicted to register a strong growth on account of the tremendous demand for SBR in tires manufacturing. In the Asia Pacific, countries such as China, India, and South Korea are the fastest growing market for SBR and is estimated to grow with the same pace over the forecast period. Improving living standards along with the flourishing growth of the electrical industry is predicted to contribute to the regional market growth. In North America, U.S and Mexico are among the major contributors in the regional market growth due to expansion of offshore and onshore activities as well as increasing innovations is expected to bridge the demand gap for SBR raw materials. In Latin America, Mexico is expected to register strong growth due to the robust presence of automobile manufacturers.


Styrene-Butadiene Rubber Market Segmentation

The global styrene-butadiene rubber market report is segmented on the basis of type, end-use, and region. Based on the type, the market is segmented into emulsion styrene-butadiene rubber, and solution styrene-butadiene rubber. On the basis of the end-user, the market is segmented into automotive, construction, industrial, adhesives & sealants, footwear making, electrical & electronics, and others. Geographically, the global styrene-butadiene rubber market is segmented into the Asia Pacific, North America, Europe, the Middle East & Africa, and Latin America. Among them, Asia Pacific is estimated to grow at the highest CAGR during the forecast period