The global styrene butadiene rubber market is expected to see moderate growth at 4.3% CAGR during the forecast period of 2017-2026. This is due to the increasing sales of automobiles which spurs the use of synthetic rubbers such as styrene butadiene.
With technological advancements, the applications of styrene butadiene rubber have stepped beyond the conventional automotive applications, and are finding new avenues in different industrial verticals. However, stringent laws of environmental protection agencies continue to curb the large scale manufacturing of styrene butadiene rubber.
The study estimates that by the end of 2026, over US$8.2 billion worth of styrene butadiene rubber products will be sold across the globe.
Key products made of styrene butadiene rubber can be categorized into emulsions and solutions. Based on their exceptional properties, styrene butadiene rubber emulsions have been widely used in production of footwear, automotive tyres, and polymer modification processes.
Regardless, the competency of styrene butadiene rubber solutions in industrial applications surpasses that of styrene butadiene rubber emulsions. In 2017, styrene butadiene rubber solutions sold across the globe are anticipated to account for more than two-third share of global market value estimated in the study.
By the end of 2026, over US$5.7 billion worth of styrene butadiene rubber solutions are expected to be sold in the global market. The demand for styrene butadiene rubber is also anticipated to remain high in the automotive industry for its predominant application in the production and affixation of tyres.
Over the forecast period, the automotive tyre applications of styrene butadiene rubber are expected to register revenue growth at 4.5% CAGR. The report further reveals that sales of styrene butadiene rubber in footwear applications will net a little over US$115 Mn in global revenues by the end of 2026.
Throughout the forecast period, the global sales of styrene butadiene rubber are expected to remain concentred in the Asia-Pacific excluding Japan (APEJ) region. Favourable industrial regulations in the APEJ countries will continue to support mass-scale production of styrene butadiene rubber solutions and emulsions.
Moreover, APEJ countries namely, India, South Korea and China are at the forefront of global automobile production. The demand for styrene butadiene rubber in these countries is expected to be high compared to other parts of the world. Through 2026, the styrene butadiene rubber market in the APEJ region is anticipated to register a 4.6% CAGR. Styrene butadiene rubber is also expected to be in great demand in some parts of North America, Europe and Middle East & Africa.
The global market for styrene butadiene rubber is witnessing low participation of synthetic rubber manufacturers. Only a handful of companies are shaping up the competition landscape of the global styrene butadiene rubber market.
The study has profiled Lanxess, Asahi Kasei, Polimeri Europa, LG Chem, Lion Elastomers, and Sinopec as the leading manufacturers of styrene butadiene rubber in the global market. These companies are expected to remain active in the expansion of the global market for styrene butadiene rubber throughout the forecast period.
(RJA)
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