The styrene butadiene rubber market is driven by growth in
the automotive industry and infrastructure development projects.
Manufacturers are also developing new formulations with improved
properties. Demand is expected to rise in emerging economies like
India (8.1% CAGR) due to growth in
consumer goods manufacturing. Bio-based alternatives are gaining
interest due to sustainability concerns.
NEWARK, Del., May 14, 2024 /PRNewswire/ --
The global styrene butadiene rubber market will
reach a valuation of USD 11.5
billion in 2024, attributed to factors such as
automotive industry growth. The trend is set to create new
opportunities for the market, leading to a projected CAGR of
5.5% between 2024 and 2034, and reaching a total valuation of
approximately USD 19.7 billion by
2034.
Download the Sample PDF report to explore key market
insights and trends:
https://www.futuremarketinsights.com/reports/sample/rep-gb-5756
Investments in research and development activities aimed at
developing innovative styrene butadiene rubber formulations with
enhanced properties, included improved durability, fuel efficiency,
and performance in extreme conditions.
Infrastructure development projects, especially in emerging
economies, are driving the demand for rubber based products like
asphalt modifiers and waterproofing membranes.
Styrene butadiene rubber is derived from petrochemical
feedstocks, and its production is closely linked to the overall
performance of the petrochemical industry.
The expansion of petrochemical production capacities, especially
in regions with abundant feedstock availability, can support the
market growth.
Rubber finds applications in the production of various consumer
goods such as footwear, hoses, conveyor belts, and gaskets.
The growth of the consumer goods manufacturing sector,
particularly in emerging markets, presents opportunities for
manufacturers to cater to the demand for the products.
There is a growing interest in the development of bio based
rubber derived from renewable feedstocks such as biomass or bio
based monomers, with growing concerns over environmental
sustainability and carbon footprint reduction.
Key Takeaways from the Market Study
- Global styrene butadiene rubber market was valued at
USD 11.0 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of
3.8%.
- The market in Japan to expand
at a CAGR of 2.3% through 2034.
- By product type, the solution SBR segment to account for a
share of 57.2% in 2024.
- The market in India will
expand at a CAGR of 8.1% through 2034.
- In terms of application, the tires segment to account for a
share of 30.1% in 2024.
"Advances in material science and engineering are driving
the development of innovative applications for rubber in sectors
such as 3D printing, advanced composites, and medical
devices," says Nikhil Kaitwade (Associate Vice President
at Future Market Insights, Inc).
Competitive Landscape
Prominent players in the styrene butadiene rubber market are Sri
Trang Agro-Industry Public Company Ltd, Hua Rubber Public Company
Ltd, Halcyon Agri, Southland Rubber Co., Ltd, Sinochem Group Co.
Ltd., Num Rubber & Latex Co., Ltd, Yunnan State Farms Group
Co., Ltd, Von Bundit Co., Ltd, Apcotex Industries Ltd., and
Firestone Natural Rubber Company, among others.
Industry Developments
In 2023, Lanxess revealed plans for a substantial expansion of
its Styrene Butadiene Rubber production capacity located in
Zhangjiagang, China.
The expansion initiative aims to augment SBR production capacity
of Lanxess in China, and will
conclude by 2025, with 50%.
In 2023, JSR Corporation disclosed its acquisition of Styrene
Butadiene Rubber business of Denka Company.
The strategic move positions JSR to command a substantial market
share in the global SBR market.
In the same year, Hainan Baling Chemical New Material Co. Ltd, a
subsidiary of China Petroleum & Chemical Corporation, commenced
operations for its styrene butadiene copolymer production
facility in Hainan, China.
The venture was backed by a significant investment of
USD 279.74 million by the company,
with an annual production capacity of 170,000 tons of SBR.
Purchase now and gain full access to the
Styrene Butadiene Rubber Industry report, featuring comprehensive
Market Forecast, Company Share Analysis, Competition Intelligence,
DROT Analysis, Market Dynamics and Challenges, and Strategic Growth
Initiatives.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global
styrene butadiene rubber market, providing historical data for 2019
to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the styrene butadiene rubber
market, the market is segmented on the basis of product type
(emulsion SBR (E-SBR), and solution SBR (S-SBR)), and
application (tires, footwear, gaskets and hoses, adhesives and
sealants, conveyor belts, electric), across seven major regions
(North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
The chemicals and materials team at Future Market Insights
offers expert analysis, time efficient research, and strategic
recommendations with the objective to provide authentic insights
and accurate results to help clients worldwide. With a repertoire
of over 100+ reports and 1 billion+ data points, the team has been
analyzing the market lucidly in 50+ countries for over a decade.
The team provides a brief analysis on key trends including
competitive landscape, profit margin, and research development
efforts.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market
Insights, Inc.) has over a decade of experience in market research
and business consulting. He has successfully delivered 1500+ client
assignments, predominantly in Automotive, Chemicals, Industrial
Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research
methodology, creating a unique analysis framework, statistical data
models for pricing analysis, competition mapping, and market
feasibility analysis. His expertise also extends wide and beyond
analysis, advising clients on identifying growth potential in
established and niche market segments, investment/divestment
decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in
Mechanical Engineering. Nikhil has authored several publications
and quoted in journals like EMS Now, EPR Magazine, and EE
Times.
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