PUBLISHER: DataM Intelligence | PRODUCT CODE: 1285069
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1285069
Global Styrene Butadiene Rubber Market - 2023-2030
Market Overview
The global styrene butadiene rubber market reached US$ 9.47 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 12.67 billion by 2030. The market is growing at a CAGR of 3.9% during the forecast period (2023-2030).
The global styrene butadiene rubber market is witnessing growth due to increasing demand for tires. Government initiatives, including infrastructure development and support for the automotive sector, have further boosted the market's opportunities. The market's dynamism in market trends is exemplified by product launches that introduce advanced SBR grades tailored for specific applications, showcasing the industry's commitment to innovation and sustainability.
The tire segment dominated with a share of over 1/4th of the market. Similarly, Asia-Pacific stands out as the dominant player with over 1/3rd chunk of the market share. As the market continues to evolve, stakeholders in the SBR industry are poised to capitalize on the opportunities presented by growing global demand and the need for high-performance, eco-friendly rubber materials.
Market Dynamics
Increasing Demand From The Construction Industry
Styrene butadiene rubber is used in construction applications such as adhesives, sealants, roofing materials, and concrete modification. With rapid urbanization and infrastructure development worldwide, the demand for styrene butadiene rubber in the construction sector has witnessed steady growth. Additionally, governments' initiatives promoting sustainable construction practices and eco-friendly materials have further propelled the demand for styrene butadiene rubber.
The incorporation of SBR in construction applications improves the durability, flexibility, and waterproofing properties of materials, aligning with sustainability goals. The respective fact indicates a positive outlook for the styrene butadiene rubber market, supported by government policies and initiatives.
The Volatility of Raw Material Prices and Government Initiatives and Regulations Promoting Bio-Based Materials
The volatility of raw material prices presents challenges for styrene butadiene rubber manufacturers in managing their production costs and maintaining competitive pricing in the market. It can pose difficulties in long-term planning, budgeting, and profit forecasting, affecting the overall growth and stability of the global styrene butadiene rubber market.
Additionally, the industry faces the restraint of transitioning towards sustainable alternatives, driven by government initiatives and regulations promoting bio-based materials. For instance, government statistical data reveals that several countries have implemented renewable energy targets and bio-based material promotion policies.
COVID-19 Impact Analysis
The COVID-19 pandemic had a significant impact on the global styrene butadiene rubber market, affecting demand, production, and supply chains. Government statistical data from countries such as U.S. and China highlight the decline in SBR production during the pandemic. However, despite these challenges, companies such as Lanxess, Kumho Petrochemical, and Versalis demonstrated resilience and innovation by launching new SBR products to address market needs.
For instance, Lanxess launched Buna VSL 1034, a high-performance SBR grade for tires, in 2020. As the world recovers from the pandemic and industries regain momentum, the SBR market is expected to gradually recover, driven by the resumption of economic activities and increasing demand in sectors such as automotive, construction, and manufacturing.
Russia-Ukraine War Impact Analysis
The Russia-Ukraine war has had a significant impact on the global styrene butadiene rubber market. Supply disruptions, production and export impact, shifting regional dynamics, and government initiatives have all contributed to market volatility and uncertainties. With disruptions in the traditional supply sources, other SBR-producing regions have witnessed increased demand and market share.
However, the industry has responded with resilience, adapting to the changing circumstances through innovative product launches and strategic measures to ensure a stable supply of SBR. As the conflict continues, it remains crucial for industry stakeholders to closely monitor the situation and collaborate to mitigate the market's disruptions and foster long-term stability.
Artificial Intelligence Impact Analysis
The integration of AI technologies in the global styrene butadiene rubber market has had a profound impact on manufacturing processes, supply chain management, quality control, and product innovation. AI-driven solutions enable intelligent supply chain management in the SBR market. Advanced algorithms analyze market trends, demand patterns, and inventory levels to optimize procurement, production, and distribution.
Real-time data analytics provide insights into raw material availability, pricing, and supplier performance, allowing companies to make data-driven decisions, reduce costs, and ensure timely delivery. Leveraging AI's capabilities, companies are achieving operational excellence, optimizing resource utilization, and driving innovation in the development of high-performance styrene butadiene rubber products.
Segment Analysis
The global styrene butadiene rubber market is segmented based on type, end-user and region.
The Increasing Demand For High-Performance Tires
The global styrene butadiene rubber market has witnessed remarkable growth supported by government statistical data and recent product launch news. E-SBR's unique properties and benefits make it a preferred choice in the tire industry. As tire manufacturers focus on sustainability and performance, E-SBR provides an ideal solution to meet these requirements. For instance, in 2021, Kumho Petrochemical, a leading player in the rubber industry, launched KRESLAN E-SBR. The new grade of E-SBR is specifically designed to meet the increasing demand for high-performance tires. With ongoing developments and technological advancements, the future looks promising for E-SBR in the global styrene butadiene rubber market.
Geographical Analysis
Robust Demand From The Automotive And Tire Industries, Supportive Government Policies And A Focus On Product Innovation
The Asia-Pacific region is experiencing significant growth in the global styrene butadiene rubber market due to several factors. Robust demand from the automotive and tire industries, supportive government policies, and a focus on product innovation is driving this growth. Furthermore, governments in the Asia-Pacific region have implemented regulations and standards to promote sustainable and environmentally friendly manufacturing practices. Additionally, research and development initiatives have been intensified in the Asia-Pacific region to drive product innovation in the SBR market. Collaborations between industry players and academic institutions have resulted in the development of novel SBR formulations with enhanced properties. The respective innovations have contributed to the growth of the market and have attracted the attention of global tire manufacturers seeking cutting-edge rubber materials.
Competitive Landscape
The major global players in the market include: LANXESS, Kumho Petrochemical, Trinseo, JSR Corporation, Synthos S.A, Taiwan Synthetic Rubbers, Versalis S.P.A., Lion Elastomers, Zeon Corporation and RESINEX Group.
Why Purchase the Report?
- To visualize the global styrene butadiene rubber market segmentation based on type, end-user and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of styrene butadiene rubber market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global styrene butadiene rubber market report would provide approximately 50 tables, 46 figures and 188 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
Table of Contents
1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
- 3.1. Snippet by Type
- 3.2. Snippet by End-User
- 3.3. Snippet by Region
4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. The increasing demand from the construction industry
- 4.1.2. Restraints
- 4.1.2.1. The volatility of raw material prices and government initiatives and regulations promoting bio-based materials
- 4.1.2.2.
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 4.1.1. Drivers
5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID-19
- 6.1.2. Scenario During COVID-19
- 6.1.3. Post COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
7. By Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
- 7.2. Emulsion SBR (E-SBR)*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Solution SBR (S-SBR)
8. By End-User
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 8.1.2. Market Attractiveness Index, By End-User
- 8.2. Tire*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Footwear
- 8.4. Construction
- 8.5. Polymer modification
- 8.6. Adhesives & Sealants Industries
- 8.7. Others
9. By Region
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 9.1.2. Market Attractiveness Index, By Region
- 9.2. North America
- 9.2.1. Introduction
- 9.2.2. Key Region-Specific Dynamics
- 9.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 9.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 9.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.2.5.1. The U.S.
- 9.2.5.2. Canada
- 9.2.5.3. Mexico
- 9.3. Europe
- 9.3.1. Introduction
- 9.3.2. Key Region-Specific Dynamics
- 9.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 9.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 9.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.3.5.1. Germany
- 9.3.5.2. The U.K.
- 9.3.5.3. France
- 9.3.5.4. Italy
- 9.3.5.5. Russia
- 9.3.5.6. Rest of Europe
- 9.4. South America
- 9.4.1. Introduction
- 9.4.2. Key Region-Specific Dynamics
- 9.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 9.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 9.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.4.5.1. Brazil
- 9.4.5.2. Argentina
- 9.4.5.3. Rest of South America
- 9.5. Asia-Pacific
- 9.5.1. Introduction
- 9.5.2. Key Region-Specific Dynamics
- 9.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 9.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 9.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 9.5.5.1. China
- 9.5.5.2. India
- 9.5.5.3. Japan
- 9.5.5.4. Australia
- 9.5.5.5. Rest of Asia-Pacific
- 9.6. Middle East and Africa
- 9.6.1. Introduction
- 9.6.2. Key Region-Specific Dynamics
- 9.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 9.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10. Competitive Landscape
- 10.1. Competitive Scenario
- 10.2. Market Positioning/Share Analysis
- 10.3. Mergers and Acquisitions Analysis
11. Company Profiles
- 11.1. LANXESS*
- 11.1.1. Company Overview
- 11.1.2. Product Portfolio and Description
- 11.1.3. Financial Overview
- 11.1.4. Key Developments
- 11.2. Kumho Petrochemical
- 11.3. Trinseo
- 11.4. JSR Corporation
- 11.5. Synthos S.A
- 11.6. Taiwan Synthetic Rubbers
- 11.7. Versalis S.P.A.
- 11.8. Lion Elastomers
- 11.9. Zeon Corporation
- 11.10. RESINEX Group
LIST NOT EXHAUSTIVE
12. Appendix
- 12.1. About Us and Services
- 12.2. Contact Us
