The Styrene-Butadiene rubber market is highly dependent on automobile industry where it finds major application in tire manufacturing. Styrene-butadiene rubber or SBR is a synthetic rubber produced by emulsion polymerization of styrene and butadiene. SBR is characterized by high tensile strength, excellent abrasion resistance and good resilience. It can be compounded to obtain specific properties making it suitable for various applications. Its properties like softness, high adhesion, resiliency and low cost make it suitable for use in automobile tires industry, footwear, cables, construction sealants and adhesives. The global SBR market is driven by the increasing demand from tire industry owing to growth in automobiles production across the globe.
The Global Styrene-Butadiene Rubber Market is estimated to be valued at US$ 11.02 Billion in 2024 and is expected to exhibit a CAGR of 8.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Styrene-Butadiene rubber are Lanxess, Sinopec, Michelin, The Goodyear Tire & Rubber Company, China National Petroleum Corporation, Kumho Petrochemical, Trinseo, Synthos, Lion Elastomers, Eni, Evonik, ZEON Corporation, NKNH, JSR Corporation, Asahi Kasei, Dow Chemical Company, Sumitomo Chemical, TSRC, Chi Mei, NPG Asia, Bridgestone, Sibur, LCY Chemical, CNPC, SINOPEC, Sinochem, Formosa Plastics
Polybutadiene Market Demand of SBR from tire industry is a major driving factor for the global SBR market. The increasing automobile production across the globe owing to growing population, urbanization and increasing purchasing power is augmenting the demand of tires which in turn is expected to propel the SBR market growth during the forecast period.
Technological advancements in polymerization techniques have helped manufacturers produce high-quality SBR with enhanced tensile strength, abrasion resistance and elongation properties. Continuous R&D by manufacturers to develop new grades of SBR tailored to meet requirements of various applications like adhesives, construction sealants etc. are expected to drive the SBR market.
Market Trends
1. Increase in High Performance Tires Production: Polybutadiene Market Size and Trends is manufacturers are focusing on production of high performance tires used in luxury and high-end vehicles which have higher SBR content. This is expected to drive the SBR consumption.
2. Development of Bio-Based SBR: With growing trend of sustainability, manufacturers are investing in R&D to produce bio-based SBR using renewable resources like vegetable oils, minimizing dependency on crude oil.
Market Opportunities
1. Footwear Industry: Growing footwear industry globally due to increased health awareness is expected to drive the demand for SBR which is majorly used in footwear mid-sole.
2. Emerging Economies: Growing automotive production in emerging economies of Asia Pacific and Latin America owing to rising disposable incomes will augment the SBR demand from these regions during the forecast period.
Impact of COVID-19 on Polybutadiene Market Growth
The COVID-19 pandemic has significantly impacted the growth of the global polybutadiene market. The implementation of lockdowns across various countries led to the closure of manufacturing facilities, disrupting the supply chain and logistics network. This hampered the production of polybutadiene and its end-use industries like tires, polymers, and chemicals witnessed a declined demand during the initial months of the pandemic. However, with the gradual lifting of lockdowns and resumption of industrial activities, the polybutadiene market is recuperating. The demand from the automotive industry is recovering with the increased vehicular movement.
The healthcare sector played a crucial role during the pandemic and drove the demand for medical-grade polybutadiene in applications like medical equipment, gloves, and other medical devices. The development of vaccines also boosted the consumption of polybutadiene in vial stoppers and syringes manufacturing. Moreover, government initiatives to stimulate the economy through infrastructure development projects are positively impacting the construction industry. This is augmenting the demand for polybutadiene in applications such as sealants and coatings. The growing awareness regarding preventive healthcare is expected to sustain the market growth over the forecast period.
Asia Pacific is currently the largest regional market for polybutadiene. The region is home to major tire producers and accounts for the highest vehicle production globally. China dominates the APAC polybutadiene market owing to well-established automotive and rubber industries. The resumption of manufacturing activities post lockdown is driving the market recovery in China. Indonesia, Malaysia, and India are emerging as high-potential markets and expected to witness the fastest market growth during the forecast period.
Europe is another lucrative geographical region for polybutadiene market owing to prominent automotive production centers and progressive rubber industries in Germany, Italy, France, and the UK. Stringent regulations regarding fuel-efficiency and reductions in carbon emissions are propelling the demand for specialized tire grades of polybutadiene in the region.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)