Throughout the forecast period, the footwear segment is anticipated to have the quickest revenue CAGR.
The global Styrene Butadiene Rubber Market size was USD 3.46 Billion in 2022 and is expected to reach USD 6.47 Billion in 2032, and register a rapid revenue CAGR of 7.2% during the forecast period. Increasing investments in the Tire industry and need for high-performance tires in the automotive sector and rising demand for S-SBR in other end-use industries, such as footwear, adhesives, and polymer modification, are key factors driving market revenue growth.
S-SBR, a Synthetic Rubber polymer, is frequently utilized in the manufacture of high-performance tires. Excellent abrasion resistance, a better aging feature, and crack resistance are some of the SBR’s characteristics.
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Major Companies:
- Asahi Kasei Corporation
- Bridgestone Corporation
- China National Petroleum Corporation (CNPC)
- Goodyear Tire and Rubber Company
- JSR Corporation
- Kumho Petrochemical Co., Ltd.
- LANXESS AG
- LG Chem Ltd.
- Sinopec Corporation
- Synthos S.A.
Strategic Development:
- In 2021, Bridgestone Corporation announced its plans to build a new Styrene Butadiene Rubber plant in Thailand. The new plant is expected to help the company meet the growing demand for high-performance tires in the region.
- In 2020, LANXESS AG announced the expansion of its existing production capacity of S-SBR at its site in Jurong Island, Singapore. The expansion is aimed at meeting the growing demand for high-performance tires in the Asia-Pacific region.
- In 2020, JSR Corporation announced the acquisition of VMI Holland B.V., a Dutch tire manufacturing equipment company. The acquisition is aimed at strengthening JSR Corporation’s position in the tire industry and enhancing its product portfolio.
Key questions addressed in the report:
- What is the expected market size of the global Styrene Butadiene Rubber market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Styrene Butadiene Rubber market?
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Styrene Butadiene Rubber Market Segmentation:
By Application Type Outlook:
- Tire Manufacturing
- Footwear
- Adhesives
- Polymer Modification
- Others
By End-Use Outlook:
- Automotive
- Construction
- Footwear
- Packaging
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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