The styrene butadiene rubber market is
driven by growth in the automotive industry and infrastructure
development projects. Manufacturers are also developing new
formulations with improved properties. Demand is expected to rise
in emerging economies like India
(8.1% CAGR) due to growth in consumer goods manufacturing.
Bio-based alternatives are gaining interest due to sustainability
concerns.
NEWARK,
Del., May 14, 2024 /PRNewswire/ --
The global styrene butadiene rubber market will
reach a valuation of USD 11.5
billion in 2024, attributed to factors such as
automotive industry growth. The trend is set to create new
opportunities for the market, leading to a projected CAGR of
5.5% between 2024 and 2034, and reaching a total valuation of
approximately USD 19.7 billion by
2034.
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key market insights and trends:
https://www.futuremarketinsights.com/reports/sample/rep-gb-5756
Investments in research and development
activities aimed at developing innovative styrene butadiene rubber
formulations with enhanced properties, included improved
durability, fuel efficiency, and performance in extreme
conditions.
Infrastructure development projects, especially
in emerging economies, are driving the demand for rubber based
products like asphalt modifiers and waterproofing membranes.
Styrene butadiene rubber is derived from
petrochemical feedstocks, and its production is closely linked to
the overall performance of the petrochemical industry.
The expansion of petrochemical production
capacities, especially in regions with abundant feedstock
availability, can support the market growth.
Rubber finds applications in the production of
various consumer goods such as footwear, hoses, conveyor belts, and
gaskets.
The growth of the consumer goods manufacturing
sector, particularly in emerging markets, presents opportunities
for manufacturers to cater to the demand for the products.
There is a growing interest in the development of
bio based rubber derived from renewable feedstocks such as biomass
or bio based monomers, with growing concerns over environmental
sustainability and carbon footprint reduction.
Key Takeaways from the Market Study
- Global styrene butadiene rubber market was valued at
USD 11.0 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of
3.8%.
- The market in Japan to expand
at a CAGR of 2.3% through 2034.
- By product type, the solution SBR segment to account for a
share of 57.2% in 2024.
- The market in India will
expand at a CAGR of 8.1% through 2034.
- In terms of application, the tires segment to account for a
share of 30.1% in 2024.
"Advances in material science and
engineering are driving the development of innovative applications
for rubber in sectors such as 3D printing, advanced composites, and
medical devices," says Nikhil Kaitwade (Associate Vice
President at Future Market Insights, Inc).
Competitive Landscape
Prominent players in the styrene butadiene rubber
market are Sri Trang Agro-Industry Public Company Ltd, Hua Rubber
Public Company Ltd, Halcyon Agri, Southland Rubber Co., Ltd,
Sinochem Group Co. Ltd., Num Rubber & Latex Co., Ltd, Yunnan
State Farms Group Co., Ltd, Von Bundit Co., Ltd, Apcotex Industries
Ltd., and Firestone Natural Rubber Company, among others.
Industry Developments
In 2023, Lanxess revealed plans for a substantial
expansion of its Styrene Butadiene Rubber production capacity
located in Zhangjiagang, China.
The expansion initiative aims to augment SBR
production capacity of Lanxess in China, and will conclude by 2025, with
50%.
In 2023, JSR Corporation disclosed its
acquisition of Styrene Butadiene Rubber business of Denka
Company.
The strategic move positions JSR to command a
substantial market share in the global SBR market.
In the same year, Hainan Baling Chemical New
Material Co. Ltd, a subsidiary of China Petroleum & Chemical
Corporation, commenced operations for its styrene butadiene
copolymer production facility in Hainan,
China.
The venture was backed by a significant
investment of USD 279.74 million by
the company, with an annual production capacity of 170,000 tons of
SBR.
Purchase now and gain full access to the
Styrene Butadiene Rubber Industry report, featuring comprehensive
Market Forecast, Company Share Analysis, Competition Intelligence,
DROT Analysis, Market Dynamics and Challenges, and Strategic Growth
Initiatives.
More Valuable Insights Available
Future Market Insights offers an unbiased
analysis of the global styrene butadiene rubber market, providing
historical data for 2019 to 2023 and forecast statistics from
2024 to 2034.
To understand opportunities in the styrene
butadiene rubber market, the market is segmented on the basis of
product type (emulsion SBR (E-SBR), and solution SBR
(S-SBR)), and application (tires, footwear, gaskets and
hoses, adhesives and sealants, conveyor belts, electric), across
seven major regions (North
America, Latin America,
Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
The chemicals and materials team at Future Market
Insights offers expert analysis, time efficient research, and
strategic recommendations with the objective to provide authentic
insights and accurate results to help clients worldwide. With a
repertoire of over 100+ reports and 1 billion+ data points, the
team has been analyzing the market lucidly in 50+ countries for
over a decade. The team provides a brief analysis on key trends
including competitive landscape, profit margin, and research
development efforts.
About the Author:
Nikhil Kaitwade (Associate Vice President at
Future Market Insights, Inc.) has over a decade of experience in
market research and business consulting. He has successfully
delivered 1500+ client assignments, predominantly in Automotive,
Chemicals, Industrial Equipment, Oil & Gas, and Service
industries.
His core competency circles around developing
research methodology, creating a unique analysis framework,
statistical data models for pricing analysis, competition mapping,
and market feasibility analysis. His expertise also extends wide
and beyond analysis, advising clients on identifying growth
potential in established and niche market segments,
investment/divestment decisions, and market entry
decision-making.
Nikhil holds an MBA degree in Marketing and IT
and a Graduate in Mechanical Engineering. Nikhil has authored
several publications and quoted in journals like EMS Now, EPR
Magazine, and EE Times.
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