Styrene Butadiene Rubber Market Size, Share, Demand and Trends by 2022-2032
The global styrene butadiene rubber market is anticipated to create an absolute dollar opportunity by exhibiting a healthy CAGR of 5.5% between 2022 and 2032. The market is expected to reach US$ 10,584.3 Mn in 2022 and is anticipated to surpass US$ 18,079.6 Mn by 2032.
As per the historic analysis of FMI, styrene-butadiene
rubber sales grew at a CAGR of 5.2% between 2016 and 2021, owing to the use of
rising applications including tires, footwear, and polyurethane
adhesives among other. The rising demand for synthetic and processed rubber
is predicted to improve the sales of styrene-butadiene.
End-use industries are rapidly inclining towards
synthetic rubber over natural rubber in the automotive tire industry which is
expected to bolster growth in the styrene butadiene rubber market. Over recent
years, the use of synthetic rubbers such as styrene-butadiene has witnessed
impressive growth due to technological advancements coupled with rising
applications in the industrial and automotive sectors. Backed by these factors,
Future Market Insights (FMI) expects styrene butadiene rubber sales to reach
US$ 18,079.6 Mn in 2032.
Key
Factors
The styrene-butadiene rubber is becoming the
consumer’s preferable choice because of its impeccable properties such as
excellent heat resistance, low rolling resistance, wear resistance, and
abrasion resistance. Therefore, end-users are inclining toward styrene
butadiene rubber in the automotive industry. These above factors are expected
to fuel the expansion of the global styrene butadiene rubber market in the
coming years.
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Due to the rise in sales of automobiles all over the
world, the demand for styrene butadiene rubber is predicted to surge over the
forecast period (2022-2032). As per the segmentations, the solution SBR segment
is likely to witness the fastest growth during the forecast period.
Demand for solution SBR is predicted to increase in
the footwear application, fueling the sales in the market. As per the studies,
styrene-butadiene rubber is considered to be the most processed and
synthetically manufactured rubber.
The production of products and parts of products
including car tires, mechanical rubber equipment or machine parts, and shoe
soles, among others, are all made of this product. One of the major key factors
expected to drive its growth in the styrene butadiene rubber (SBR) market is
rising demand from the tire manufacturing industry.
In addition to that, surging demand for new
automobiles and replacement tires along with the rising interest for
synthetic rubber over industrial rubber is expected to fuel market
growth. Styrene butadiene rubber has inherent advantages in terms of stability
and physical properties, driving growth in the market.
Competitive
Landscape
Leading manufacturers of styrene butadiene rubber
primarily focus on developing sustainable butadiene in order to avoid being
impeded by stringent government rules that restrict the use of chemically
manufactured butadiene in various regions. To efficiently fit into the
increasingly popular circular economy trends, SBR manufacturers are focusing on
achieving sustainability in their business models.
Styrene
Butadiene Rubber Market by Category
By Type:
- Emulsion
SBR (E-SBR)
- Solution
SBR (S-SBR)
By Application:
- Tires
- Footwear
- Gaskets
& Hoses
- Adhesives
& Sealants
- Conveyor
Belts
- Electric
By Region:
- North
America
- Latin
America
- East
Asia
- Europe
- South
Asia & Pacific
- Middle
East & Africa
More
Insights into the Styrene Butadiene Rubber Market
The U.S. is considered to dominate the global styrene
butadiene rubber market in the North American region. Due to the rising
popularity of electric vehicles, the overall sales of automobiles in the U.S.
are expected to spur over the estimation period. This will also surge the demand
for tires, which will in return boost sales of styrene butadiene rubber and
styrene butadiene rubber latex.
Styrene butadiene rubber suppliers in the U.S. will
also be benefitted from lucrative business opportunities brought on by the
presence of leading industry players in the country. These aforementioned
factors are anticipated to boost the growth in the U.S. styrene butadiene
rubber market during the forecast period.
Attributed to the strict government initiatives and
thriving automotive industry has encouraged the growth of the manufacturing
sector, opportunities for suppliers of styrene butadiene rubber are expected to
boost the market. Styrene butadiene rubber (SBR) demand witnessed a noticeable
increase in China by registering a growth of 6.3% throughout the forecast
period.
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Full Report: https://www.futuremarketinsights.com/reports/styrene-butadiene-rubber-market
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