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The expansion of the automotive industry, and enhancing the durability of end-products have resulted in boosting the Styrene Butadiene Rubber market.
NEW YORK CITY, NEW YORK, UNITED STATES, July 29, 2022 /EINPresswire.com / -- The Global Styrene Butadiene Rubber (SBR) market is forecast to reach USD 9,779.5 Million by 2028, according to a new report by Reports and Data. Styrene-Butadiene rubber (SBR) is one of the commonly used synthetic rubber consisting of butadiene and styrene monomers. There are various benefits associated with the use of this synthetic rubber, which are supporting the continuous growth of the market. Some of these mentionable traits are impact strength, excellent resilience, abrasion resistance, high tensile strength, among others. The presence of the mentioned traits have resulted in its wide use in various application including tire manufacturing, footwear, polymer modification, among others. When compared with polybutadiene rubber, SBR can be seen to have advantages like abrasion resistance, blend compatibility, and improved strength, which are resulting in its growing popularity. The mentioned traits are further enhanced with the help of additives. Apart from tire manufacturing, which is one of the mentionable areas of application of these synthetic rubber, it is also used in mechanical rubber goods, automotive parts, wire, and cable insulation, flooring, belting, among others. When compared to natural rubber, its traits like comparatively better heat aging, enhanced processability, resistance to degradation under heat, and enhanced abrasion resistance.
In regards to region, North America can be seen to occupy a considerable share of the market. The market share held by the region is associated with a well-established automotive sector, expanding healthcare sector and attractive footwear industry, which is supporting the growth of the market in this region.
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Top Companies Profiled in the Report: Sinopec, Lanxess, Michelin, The Goodyear Tire & Rubber Company, Eastman, JSR Corporation, LG Chemicals, SIBUR, Dynasol Elastomer, and LCY Chemicals.
Further key findings from the report suggest
The Styrene Butadiene Rubber market held a market share of USD 5,739.4 Million in the year 2020 that is forecasted to grow at a rate of 6.8% during the forecast period.
In context to Raw materials, the Styrene segment held a considerable market share of 25.0% in 2020, with a CAGR of 7.3% during the forecast period. The market share held by the Styrene segment is attributed to the fact that, as natural rubbers, these synthetic rubbers also require a degree of hardness along with bonding and wearing characteristics that can be catered with the help of this raw material, which contributes to the market share held by this segment.
In context to Product, the Emulsion Styrene Butadiene Rubber segment held a larger market share of more than 50.0% in 2020, with a growth rate of 5.7% during the forecast period. The market dominance of the Emulsion Styrene Butadiene Rubber segment is attributed to the wide arena of applications like in flooring adhesives, footwear, tires, food contact & pharmaceutical articles, and light-colored mechanical goods. Its traits like effective abrasion resistance results in its high acceptance among sectors like tire manufacturing industry.
In regards to Application, the Tire segment held the largest market share of 72.0% of the market, with a CAGR of 6.8% during the forecast period. The traits of SBR like high impact strength, excellent resilience, abrasion resistance, high tensile strength results in its extensive application in tire manufacturing, contributing to the market share held by this segment.
In regards to the region, Europe held 22.0% of the market in 2020, with a CAGR of 7.2% during the forecast period. The market share held by the region is resultant of expanding construction industry and well-established automotive sector that supports the growth of the market in this region.
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Raw materials Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
Butadiene
Styrene
Others
Product Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
Emulsion Styrene Butadiene Rubber
Solution Styrene Butadiene Rubber
Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2028)
Tire
Polymer modification
Footwear
Adhesive and sealant
Others
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The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Styrene Butadiene Rubber market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Styrene Butadiene Rubber market.
The global Styrene Butadiene Rubber market is segmented into:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Questions Addressed in the Report:
What are the dominating factors that are influencing the growth of the industry?
In the forecast period, which market segment is expected to rise the most?
What are the risks and challenges that the industry is facing?
In the coming years, which area is projected to dominate the market?
Who are the major players in the market?
What kind of strategic business plans have they made?
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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