H1 2023: The significant players in the global Styrene Butadiene Rubber (SBR) market in H1 2023 were Korea Kumho Petrochemical, PetroChina Company Limited, and Synthos Group. However, Korea Kumho Petrochemical held the largest SBR production capacity in H1 2023. In May 2023, Sumitomo Chemical, a Japanese chemical producer declared about permanently stopping its production of Styrene Solution Butadiene Rubber (SSBR), which is a type of SBR, at their Singapore facility. The plant had the capacity to produce 40 thousand tonnes of synthetic rubber per annum. Geographically, Asia Pacific region was the leading consumer of SBR on a global scale. Styrene-butadiene rubber demand was rising from January to the end of February 2023 was strong in this region due to a high demand from the downstream industries like automotive and rubber in countries like India and China. South Korea was the largest exporter of SBR across the globe. However, in South Korea, the demand for SBR was low from January 2023 to April 2023. The feedstock costs of Styrene and butadiene continued to decline in the Asia-Pacific market, which had an effect on the entire production cost in the region. But, during these months, the export volume decreased, which affected the final price of SBR in South Korea. However, the SBR prices began to rise from the end of April 2023 in South Korea.
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The global Styrene Butadiene Rubber (SBR) market has reached approximately 5500 thousand tonnes in 2022 and is expected to grow at a CAGR of 4.07% during the forecast period until 2035. Styrene-butadiene rubber (SBR) is currently the most widely used elastomer among all the synthetic rubbers produced globally. Rising SBR demand for manufacturing tyres for Heavy Commercial Vehicles (HCVs), Light Commercial vehicle (LCVs), passenger cars, belting conveyors and molded goods would propel the demand for SBR in the forecast period.
Styrene Butadiene Rubber (SBR) is the most common synthetic rubber manufactured by copolymerizing butadiene (75%) and styrene (25%) with the support of free radical initiators. Currently, the emulsion polymerization process produces the majority of SBR in the globe. SBR displays properties like resistance to dilute acids and bases, crack-resistance, heat resistance, high durability, and adhesion to metal. It is primarily employed for manufacturing tires. Other niche applications include carpets, footwear, coatings, heels of women's footwear, adhesives, and vehicle parts. SBR is also blended with natural rubber for manufacturing pressure-sensitive adhesives (PSAs) used for masking tapes, labels, cloth tapes, and duct tapes.
Unlike natural rubber, SBR tends to harden with age instead of softening, due to the increased interlinking of polymer chains due to oxidation. These restraining factors of natural rubber have paved the way for increased SBR consumption for tire manufacturing since the past few years. The primary driver of the Styrene Butadiene Rubber (SBR) global market is the Tires Industry. SBR has various advantages such as high durability, resistance to cracking, high-temperature resistance, and wear resistance. Due to these reasons, SBR is employed for manufacturing tires. Footwear industry accounts for a much smaller share in the overall SBR market but stimulates the market growth due to rising demand for strong grip athletic shoes. The global Styrene Butadiene Rubber (SBR) market is anticipated to reach about 9200 thousand tonnes by 2035.
Based on demand, the Asia Pacific dominates the Styrene Butadiene Rubber (SBR) market with an incredible market share of greater than 45% of the global Styrene Butadiene Rubber (SBR) in 2022. Additionally, the region is the world's biggest user of SBR tires and adhesives. APAC is the leading producer of SBR. Furthermore, APAC has planned to expand the current SBR facilities and add huge plant capabilities to meet the growing demands of SBR in the forecast period. Currently, South Korea is leading as the producer of SBR.
Based on the end-user industry, the global Styrene Butadiene Rubber (SBR) market is segmented into Tires, Conveyor Belt, Shoe Sole, and Others. The Tires Industry is the largest consumer of the Styrene Butadiene Rubber (SBR) market due to its remarkable properties. In 2022, approximately 82% of global Styrene Butadiene Rubber (SBR) was consumed solely by this industry. Rising demand from other segments such as Conveyor Belt and Shoe Sole industry would most likely further bolster the demand for SBR in the forecast period.
Major players in the production of Global Styrene Butadiene Rubber (SBR) are Korea Kumho Petrochemical, PetroChina Company Limited, Synthos Group, Goodyear Tire and Rubber, Groupo Dynasol, Trinseo, JSR Corporation, TSRC Corporation, Sinopec Qilu petrochemicals, Bridgestone Corporation, LANXESS AG, Versalis, Lion Copolymer, and Shenhua Chemical Industrial.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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Objective of the Study:
• To assess the demand-supply scenario of Styrene Butadiene Rubber (SBR) which covers production, demand and supply of Styrene Butadiene Rubber (SBR) market in the globe.
• To analyse and forecast the market size of Styrene Butadiene Rubber (SBR)
• To classify and forecast Global Styrene Butadiene Rubber (SBR) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Styrene Butadiene Rubber (SBR) market in the globe.
To extract data for Global Styrene Butadiene Rubber (SBR) market, primary research surveys were conducted with Styrene Butadiene Rubber (SBR) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Styrene Butadiene Rubber (SBR) market over the coming years.
ChemAnalyst calculated Styrene Butadiene Rubber (SBR) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the consumption of Styrene Butadiene Rubber (SBR) by the end-user industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Styrene Butadiene Rubber (SBR) manufacturers and other stakeholders
• Organizations, forums and alliances related to Styrene Butadiene Rubber (SBR) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Styrene Butadiene Rubber (SBR) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Styrene Butadiene Rubber (SBR) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
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Market size Volume in 2022
5500 thousand tonnes
Market size Volume by 2035
9200 thousand tonnes
Growth Rate
CAGR of 4.07% from 2023 to 2035
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2035
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2035
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Tires, Conveyor Belt, Shoe Sole, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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