Global styrene butadiene rubber (SBR) market is expected to be valued at USD 7.9 billion by 2025. The demand for solution styrene butadiene rubber in tire and footwear applications is growing owing to its high synthetic flexibility and is anticipated to drive market growth.
Increasing demand for high-performance tires from the automotive industry is expected to propel the tire manufacturing sector’s demand for using higher specification raw materials. Also, requirement for high fuel-efficiency in automotive sector is building the demand for tires with low rolling resistance, which in turn is estimated to drive the growth for SBR in the tire industry. On the other hand, stringent regulations for the emission of toxic fumes at the time of production process of SBR is one of the major impeding factor for SBR manufacturers and is expected to restraint the growth of the global SBR market.
The global styrene butadiene rubber market is bifurcated based on product and application. The product segment is further classified into solution SBR and emulsion SBR. Emulsion styrene butadiene rubber (SBR) market is the largest segment in the global SBR market owing to the low-cost of production. Furthermore, shift in demand from the end users for high-performance tires is growing the popularity of the S-SBR in the global market.
Countries such as India and China are relishing the low-cost labor advantage in the automotive industry, which accounts for the maximum consumption of SBR. Europe is also marking its growth in the global SBR market owing to strong automotive industry in the region. The consumption of S-SBR in automobile industry majorly in tires is increasing due to tire labelling regulation imposed by the European Union for the development in different tire grades.
The competitive landscape of global SBR market is highly fragmented owing to the presence of several local players. Companies including China National Petroleum Corporation, Kumho Petrochemical Co., Ltd, Asahi Kasei Corporation, Sumitomo Chemical Company, ZEON Corporation, Trinseo S.A., LANXESS Aktiengesellschaft, Bridgestone Corporation, JSR Corporation and The Goodyear Tire & Rubber Company amongst others.
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