New York City, 09 February 2019: The global Styrene
Butadiene Rubber (SBR) Market is anticipated to reach USD 14.74 billion by 2026
According to a new study published by Polaris Market Research.
Styrene
Butadiene Rubber (SBR) is a synthetic rubber produced by the co-polymerization
of butadiene and styrene. Global Styrene Butadiene Rubber (SBR) market demand
is largely driven by the manufacturing of tire and related products. Automotive
industry is the largest application segment for this synthetic rubber. Rapid
growth in the manufacturing of crossover utility vehicles (CUV), SUVs, and
battery electric vehicles (BEVs) have led to higher consumption of SBR in the
manufacturing sector.
Many other
applications have also driven the demand for SBR substantially. Footwear,
consumer products, industrial hoses, conveyor belts, automotive applications
excluding tires, and extruded rubber goods are other applications that consume
synthetic butadiene rubber for the end-product manufacturing.
Growing
global population coupled with the increase in disposable incomes of consumers
has led to growth of many end-use industries that have high consumption of SBR.
Strong economic performance, consumer preference for modern & sustainable
products such as electric vehicles, falling value of old diesel cars, and
steady growth of many middle-income countries across the world are some of the
vital growth forces for the end-use rubber industries.
SBR is of
two types, emulsion SBR (ESBR) and Solution SBR (SSBR). Though ESBR accounted
for the largest market share, but SSBR has witnessed momentum in the recent
past. This is on account of the rising demand for low rolling-resistance tires
to decrease carbon dioxide emissions and reduce fuel consumption. Moreover,
SSBR has efficiently adapted to the growing stringent specifications of the
high-performance tires.
The most
significant growth regions with large consumption of SBR include Northeast
Asia, mainly Taiwan and Indian subcontinent. The largest capacity additions in
the period of 2012-17 were witnessed in Southeast Asia (Singapore and
Thailand), South Korea, China, and Central Europe. Though China witnessed
decline in the Styrene Butadiene Rubber (SBR) growth in past five years, but
continues to be the largest consumer.
Competitive Landscape and Key Vendors:
ESBR
witnessed decline in most of the Styrene Butadiene Rubber (SBR) markets,
including the United States, South Korea, Western Europe, Central Europe, and
Japan, losing the market to SSBR. The global consumption of SSBR has witnessed
a substantial increase in the past five years with faster capacity additions
globally. The mature markets such as Japan, Canada, and Europe are anticipated
to witness limited growth rate.
The global
styrene butadiene rubber (SBR) market comprises of large number of market
players. Some of the key SBR players include Sinopec, LANXESS, China National
Petroleum Corporation (CNPC), Kumho Petrochemical, Sibur, JSR Corporation,
Trinseo, Eastman Chemical Corporation, Asahi Kasei Chemical Corporation, and
Ashland Inc.
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