Pune, India, Dec. 15, 2023 (GLOBE NEWSWIRE) — The global solution styrene butadiene rubber market size was valued at USD 4.49 billion in 2022 and is projected to grow from USD 4.67 billion in 2023 to USD 6.25 billion by 2030, exhibiting a CAGR of 4.2% during the forecast period.
Solution Styrene Butadiene Rubber (S-SBR) is a synthetic rubber compound utilized in tires and various other rubber products. It’s a copolymer derived from polymerizing two primary monomers, butadiene and styrene. The robust automotive and manufacturing industries are anticipated to be key drivers of market growth during the forecast period.
Fortune Business Insights™ mentioned this in a report titled, “Solution Styrene Butadiene Rubber Market, 2023-2030.”
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List of Key Players Present in the Solution Styrene Butadiene Rubber Market Report:
- ARLANXEO (Netherlands)
- SIBUR (Russia)
- LG Chem (South Korea)
- The Goodyear Tire & Rubber Company (U.S.)
- Sinopec (China)
- JSR Corporation (Japan)
- Dynasol Group (Spain)
- Asahi Kasei Corporation (Tokyo)
- Sumitomo Chemical Asia Pte Ltd. (Japan)
- Trinseo (U.S.)
- Versalis (Italy)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 4.2% |
| 2030 Value Projection | USD 6.25 Billion |
| Market Size in 2022 | USD 4.49 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 234 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Solution Styrene Butadiene Rubber Market Growth Drivers | Growing Use of S-SBR to Produce Tires to Boost Tires Segment Growth |
| Growing Polymer Modification Tailoring S-SBR Properties to Drive Market Growth |
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https://www.fortunebusinessinsights.com/solution-styrene-butadiene-rubber-market-108707
Segments
Growing Use of S-SBR to Produce Tires to Boost Tires Segment Growth
By application, the market is segmented into tires, footwear, polymer modification, adhesives & sealants, and others. The tires segment is expected to hold a larger solution styrene butadiene rubber market share during the forecast period. The increased use of S-SBR in high-performance tire production drives growth in this segment.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
COVID-19 Impact
Supply Chain Disruptions During the COVID-19 Pandemic Impeded Market Growth
The solution styrene butadiene rubber market experienced negative impacts due to the COVID-19 pandemic. Increased disruptions in the global supply chain hindered market growth. Lockdown restrictions led to decreased demand in the automotive industry, consequently impacting rubber consumption.
Report Coverage
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- The latest industry developments include product launches, partnerships, mergers, and acquisitions.
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Drivers & Restraints
Growing Polymer Modification Tailoring S-SBR Properties to Drive Market Growth
Polymer modification techniques are pivotal in driving the solution styrene butadiene rubber market growth, allowing tailored adjustments to meet precise performance criteria. This customization, refining properties like abrasion resistance and fuel efficiency, enhances its appeal across industries, notably in automotive tire manufacturing.
However, price fluctuations of petrochemical-based raw materials such as styrene and butadiene might hinder market growth during the forecast period.
Regional Insights
Growing Automotive Industry to Drive Market Growth in Asia Pacific
Asia Pacific, constituting 49.4% of the global market in 2022, experiences heightened demand driven by its thriving automotive sector. The region, particularly China and India, leads in rubber consumption and production, supported by robust manufacturing and automotive industries.
Europe held a substantial market share in 2022 due to increased demand for solution styrene butadiene rubber and related compounds across various industrial sectors within the region.
Competitive Landscape
Key Players Focus on Increasing Their Presence to Drive Market Growth
Key players in Europe and North America focus on expanding their presence in various Asia Pacific countries to strengthen their market position in the solution styrene butadiene rubber sector. Establishing a strong regional presence, enhancing product offerings, and optimizing distribution channels are strategies to increase global presence.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Market Trends
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Insights on Regulatory Scenario
- Latest Technological Advancement
- Porter’s Five Forces Analysis
- Qualitative Insights on Impact of Covid-19 on the Market
- Supply Chain Challenges
- Steps taken by Companies to Overcome the Impact
- Potential Challenges and Opportunities due to COVID-19 Outbreak
- Global Solution Styrene Butadiene Rubber Market Analysis, Insights and Forecast, 2019-2030
- Key Findings
- By Application
- Tires
- Polymer Modification
- Adhesives & Sealants
- Footwear
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Solution Styrene Butadiene Rubber Market Analysis, Insights and Forecast, 2019-2030
- Key Findings
- By Application
- Tires
- Polymer Modification
- Adhesives & Sealants
- Footwear
- Others
- By Country
- U.S.
- By Application
- Tires
- Polymer Modification
- Adhesives & Sealants
- Footwear
- Others
- By Application
- U.S.
TOC Continued…!
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Key Industry Development
- September 2023 – Trinseo, a specialty materials solutions company, introduced a new transparent thermoplastic elastomer (TPE) product named APILON 52 XB, 75A CRISTALLO for footwear applications. This addition strengthens the company’s footwear industry portfolio.
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