Rubber

SBR market to reach $9.17bn

The global styrene butadiene rubber (SBR) market is forecasted to expand at a moderate compound annual growth rate (CAGR) of 7.0 per cent to reach a value of $9.17 billion by 2027, from $4.97 billion in 2018, according to a new report by Reports and Data.

The rising demand for styrene butadiene rubber comes from the automotive and construction sector, the report noted.

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 tyre 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 tyre 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. Thus, the presence of such advantages over natural rubber and polybutadiene rubber contributes to the growth rate witnessed by the market.

Further key findings from the report suggest: The Styrene Butadiene Rubber market held a market share of $4.97 billion in the year 2018 that is forecasted to grow at a rate of 7.0 per cent during the forecast period.

In context to raw materials, the styrene segment held a considerable market share of 25.0 per cent in 2018, with a CAGR of 7.3 per cent 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 per cent in 2018, with a growth rate of 5.7 per cent 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, tyres, food contact and pharmaceutical articles, and light-coloured mechanical goods. Its traits like effective abrasion resistance results in its high acceptance among sectors like tyre manufacturing industry.

In regards to application, the tyre segment held the largest market share of 72.0 per cent of the market, with a CAGR of 7.0 per cent 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 tyre manufacturing, contributing to the market share held by this segment.

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.

The report said that Europe held 22.0 per cent of the market in 2018, with a CAGR of 7.2 per cent 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.

Key players in the category include Sinopec, Lanxess, Michelin, The Goodyear Tire & Rubber Company, Eastman, JSR Corporation, LG Chemicals, SIBUR, Dynasol Elastomer, and LCY Chemicals.