Global Styrene Butadiene Rubber (SBR) Market Size Booming at Significant CAGR of 7.55% to Surpass USD 15.63 Billion by 2030

Published | 12 March 2024

Global Styrene Butadiene Rubber (SBR) Market is flourishing due to the rising demand from the tire production industry, an increasing number of construction and infrastructure development programs, and growing adoption of adhesives and sealants.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Styrene Butadiene Rubber (SBR) Market size by value at USD 12.89 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Styrene Butadiene Rubber (SBR) Market size to expand at a CAGR of 7.55% reaching a value of USD 15.63 billion by 2030. The Global Styrene Butadiene Rubber (SBR) Market is propelled by a growing demand for rubber in the automotive sector, the surging sales of footwear featuring rubber soles, rapid industrialization in emerging economies, and the increasing need for high-performance lightweight tires. The constrained availability of natural rubber is expected to drive the demand for various SBR products, including SBR polymers, styrene-butadiene rubber latex, styrene-butadiene rubber powder, carboxylate styrene-butadiene rubber, and others during the forecast period. The growing demand for styrene-butadiene rubber in the industrial sector is also expected to play a pivotal role in shaping the market trajectory up to 2032.

By volume, BlueWeave estimated the Global Styrene Butadiene Rubber (SBR) Market size at 9.35 million metric tons in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Global Styrene Butadiene Rubber (SBR) Market size by volume is projected to grow at a CAGR of 1.28% reaching the volume of 10.09 million metric tons by 2030. Presently, SBR stands as the predominant elastomer in global synthetic rubber production. The increasing need for SBR in the production of tires for Heavy Commercial Vehicles (HCVs), Light Commercial Vehicles (LCVs), passenger cars, belting conveyors, and molded goods is expected to drive the demand for SBR over the forecast period.

Opportunity - Increasing demand for SBR from thriving automotive industry

The automotive sector commands the largest share of SBR market consumption, primarily driven by its extensive use in tire manufacturing. The surge in natural rubber prices has led tire manufacturers to adopt SBR widely, given its robust durability and rolling resistance. Anticipated to persist during the forecast period, the growing demand for SBR extends beyond tires to various applications, including gaskets, vibration isolators, tuned dampers, belts, bump stops, and spring aids. With a rising global automobile count and increasing SBR applications in both tire and non-tire contexts, the global SBR market is poised for continued growth.

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Impact of Escalating Geopolitical Tensions on Global Styrene Butadiene Rubber (SBR) Market

Geopolitical tensions can have a multifaceted impact on the Global Styrene Butadiene Rubber (SBR) Market. The intricate supply chain dynamics of SBR, a vital component in industries such as tire manufacturing and automotive, make it susceptible to disruptions caused by geopolitical uncertainties. Escalating tensions may result in trade barriers, sanctions, or geopolitical instability in key production regions, affecting the availability and pricing of SBR. Additionally, economic uncertainties arising from geopolitical issues can influence consumer spending patterns and industrial activities, thereby impacting the overall demand for SBR. It becomes imperative for industry stakeholders to closely monitor geopolitical developments and proactively adapt strategies to mitigate potential challenges in this highly interconnected market.

Global Styrene Butadiene Rubber (SBR) Market

Segmental Information 

Global Styrene Butadiene Rubber (SBR) Market – By Application

On the basis of application, the Global Styrene Butadiene Rubber (SBR) Market is divided into Tires, Industrial Footwear, Polymer Modification, and Adhesives segments. The adhesives segment holds the highest share in the Global Styrene Butadiene Rubber (SBR) Market by application, and this prominence can be attributed to several factors. Primarily, SBR is a key component in the production of pressure-sensitive adhesives (PSAs) used in diverse applications such as tapes, labels, and graphics. The escalating demand for these products has been a driving force behind the increased consumption of PSAs, a trend expected to persist throughout the forecast period. The adhesive industry has witnessed a notable shift towards rubber-based PSAs, replacing conventional options across various applications. In 2021, post-pandemic restrictions, the global adhesive demand rebounded, surpassing pre-pandemic levels in 2022. Moreover, SBR's role in enhancing tire properties, including reduced rolling resistance, improved fuel economy, wet grip, and braking performance, contributes significantly to its prevalence in the adhesives segment. Additionally, it extends tire life by safeguarding against wear and tear, further solidifying its impact on the adhesives market.

Global Styrene Butadiene Rubber (SBR) Market – By Region

The in-depth research report on the Global Styrene Butadiene Rubber (SBR) Market covers the market in a number of major countries across five regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The Asia Pacific region holds the highest share in the Global Styrene Butadiene Rubber (SBR) Market and is expected to maintain its dominance during the forecast period. Notably, this region stands as the largest consumer of SBR tires and adhesives globally. Asia Pacific also takes the lead as the primary producer of SBR, and there are strategic plans in place to augment existing SBR facilities, incorporating substantial plant capabilities to accommodate the escalating demand projected in the forecast period. Presently, South Korea emerges as the forefront producer of Styrene Butadiene Rubber in this dynamic market landscape.

Competitive Landscape

The Global Styrene Butadiene Rubber (SBR) Market is fragmented, with numerous players serving the market. The key players dominating the Global Styrene Butadiene Rubber (SBR) Market include The Goodyear Tire & Rubber Company, LANXESS, Lion Elastomers, Trinseo, Zeon Chemical, Dow Chemical, INEOS Styrolution, Chevron Phillips Chemical Company LLC, Sinopec, Asahi Kasei Corporation, and MICHELIN. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

Don’t miss the business opportunity of the Global Styrene Butadiene Rubber (SBR) Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the Global Styrene Butadiene Rubber (SBR) Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Styrene Butadiene Rubber (SBR) Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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