Styrene Butadiene Rubber (SBR) Global Market Report 2024

The styrene butadiene rubber (sbr) market size has grown strongly in recent years. It will grow from $37.87 billion in 2023 to $40.25 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The historical period's expansion can be ascribed to cost-effectiveness, durability, resilience, heightened demand from the automotive industry, consistent availability, and versatility in applications, serving as a replacement for natural rubber.

The styrene butadiene rubber (sbr) market size is expected to see strong growth in the next few years. It will grow to $50.61 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period is linked to initiatives promoting green and sustainable practices, ongoing innovation in product development, the expanding automotive sector, infrastructure development, and an increasing demand for high-performance tires. Key trends expected in the forecast period encompass technological advancements, the adoption of sustainable practices and green initiatives, fluctuations in raw material prices, ongoing research and development for improved performance, and a transition towards high-styrene SBR.

The growth of the styrene-butadiene rubber (SBR) market is driven by the increased utilization of SBR in tire manufacturing. SBR is a crucial component in tire production, exhibiting natural rubber-such as properties through a combination of styrene and butadiene monomers. These monomers possess unique characteristics, including abrasion resistance, excellent impact strength, resilience, and high tensile strength, making them well-suited for high-end tire manufacturing. The rising sales of automobiles in recent years have resulted in heightened demand for SBR in the automotive industry. For example, as reported by TireGrades in August 2023, approximately 300 million tires are sold annually in the US, further fueling the demand for SBR in the end-use industry and contributing to the growth of the SBR market.

The expanding footwear industry is expected to drive the future growth of the styrene-butadiene rubber (SBR) market. This industry encompasses the entire process, from design and manufacturing to distribution and sale of various footwear products such as shoes, boots, and sandals. SBR is preferred in the footwear industry due to its ability to provide durability, flexibility, water resistance, cost-effectiveness, and versatility. According to World Footwear's September 2022 report, global footwear production witnessed an 8.6% increase in 2021, surpassing 22 billion pairs. Consequently, the growing footwear industry is a significant factor propelling the styrene-butadiene rubber (SBR) market's expansion.

Safety hazards remain a major challenge in the styrene-butadiene rubber industry. Due to potential hazards, butadiene is not directly sold to customers but is utilized in polymer and elastomer manufacturing. Butadiene is highly volatile and has low water solubility. Prolonged exposure to butadiene poses health risks, including damage to the central nervous system, blurred vision, nausea, headache, fatigue, decreased blood pressure, and even coma. The International Agency for Research on Cancer has listed 1,3-butadiene as a possible carcinogen.

Major companies in the styrene-butadiene rubber industry are increasingly investing in artificial intelligence (AI) to enhance their decision-making abilities and thus drive profits. The companies in this industry gather huge amounts of raw data relating to the working of plants and other infrastructure through a large number of sensors placed across the production site. Using big data analytics, companies can detect sensible patterns, which can allow them to quickly react to unwanted changes or potential defects, thus saving costs. AI allows companies to make better operational decisions. Companies such as Zhongce Rubber Group and Yokohama Rubber have been increasingly investing in AI technology to have a centralized method of data management and support data integration across multiple applications.

Major companies operating in the styrene butadiene rubber (SBR) market are focusing on developing innovative products such as ISCC- (International Sustainability and Carbon Certification) certified synthetic rubber to drive revenues in their market. ISCC is a certification system and sustainability standard used to verify the sustainable and responsible sourcing and production of various materials, including synthetic rubber. For instance, in November 2022, Asahi Kasei Corporation, a Japan-based chemical company that manufactures styrene-butadiene rubber (SBR) launched ISCC certified synthetic rubber including styrene-butadiene rubber (SSBR). Asadene butadiene rubber and solution-polymerized styrene-butadiene rubber, both of which are ISCC Plus approved, will be marketed by the company beginning in November. The ISCC Plus accreditation assures that biomass, recycled materials, and sustainable feedstock are properly managed along the supply chain, including the manufacturing processes, using the mass-balance method .

In September 2022, Naftna Industrija Srbije (NIS), a Serbian oil and gas company received permission from the executive of the European Union ‘European Commission to acquire HIP-Petrohemija LLC Pancevo (HIPP) for an undisclosed amount. As a result, NIS aims to build HIP Petrohemija through the modernization of basic production capacities, the development of new plants, and improving energy and business efficiency. HIP-Petrohemija LLC Pancevo (HIPP) is a Serbian petrochemicals and synthetic rubber manufacturer.

Major companies operating in the styrene butadiene rubber (sbr) market report are China National Petroleum Corporation, China Petroleum & Chemical Corp., JSR Corporation, Zeon Corp., British Petroleum PLC, Chevron Corporation, Reliance Industries Limited, BASF SE, China Shenhua Energy Company Limited, LyondellBasell Industries Holdings B.V., LG Chemical ltd., Compagnie Générale des Établissements Michelin SCA, Bridgestone Corporation, Sumitomo Chemical Co. Ltd., The Goodyear Tire & Rubber Company, Asahi Kasei Corp., Eastman Chemical Company, Lanxess AG, Kumho Petrochemical Co. Ltd., Versalis S.P.A, Trinseo S.A., Kraton Corporation, LCY Chemicals Corp., Synthos S.A, TSRC Corporation, Manali Petrochemicals Limited, Lion Elastomers LLC, SKC Chemie Pvt. Ltd., Dynasol Group., SIBUR Holding PJSC, Michelin Malaysia Sdn Bhd. Asia-Pacific was the largest region in the styrene butadiene rubber (SBR) market in 2023. Western Europe was the second-largest region in the styrene butadiene rubber (SBR) market report. The regions covered in the styrene butadiene rubber (sbr) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The primary styrene-butadiene rubber types in the market include emulsion and solution types. Emulsions are combinations of two or more liquid types, with one resembling tiny or even ultramicroscopic droplets distributed among the others. The diverse applications encompass automotive tires, footwear, polymer modification, adhesives, and various other uses. Distribution channels involve direct/institutional sales, retail sales, and other channel sales.

The styrene butadiene rubber (SBR) market research report is one of a series of new reports that provides styrene butadiene rubber (SBR) market statistics, including global market size, regional shares, competitors with a styrene butadiene rubber (SBR) market share, detailed styrene butadiene rubber (SBR) market segments, market trends and opportunities, and any further data you may need to thrive in the styrene butadiene rubber (SBR) industry. This styrene butadiene rubber (SBR) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The countries covered in the styrene butadiene rubber (sbr) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The styrene butadiene rubber (SBR) market consists of the sales of hot styrene-butadiene rubbers, cold styrene-butadiene rubbers, and solution styrene-butadiene rubbers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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