United States, Rockville, MD, June 07, 2022 (GLOBE NEWSWIRE) -- The styrene butadiene rubber market study projects the market to top a valuation of US$ 16 billion by 2032, up from the current market worth of US$ 9.8 billion. Consumption of styrene butadiene rubber is predicted to increase at a CAGR of 5.3% from 2022 to 2032, as this new research by Fact.MR, a market research and competitive intelligence provider, suggests.
Rising sales of vehicles and expansion of the automotive industry on a global scale are expected to prominently drive demand for styrene butadiene rubber throughout the forecast period. Styrene-butadiene rubber is extensively used in the manufacturing of tires, and this is expected drive its sales as demand for tires increases. Increasing use of styrene butadiene rubber in various other applications such as footwear manufacturing, polymer modification, adhesives, etc., is also expected to drive marker expansion.
However, the volatile nature of the pricing of raw materials used to produce styrene butadiene rubber and strict government norms to regulate the use of rubber to reduce its harmful impact on the environment are expected to hinder SBR market growth potential to some extent.
Key styrene butadiene rubber manufacturers are deploying various strategies to bolster their business potential. For instance, some styrene butadiene rubber suppliers are diversifying their businesses to focus on specific ventures.
- In November 2021, Trinseo, a material manufacturing company based in the United States, announced that it would start a formal sales process of its styrenics businesses in 2022.
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Key Takeaways from Market Study
- Currently, the styrene butadiene rubber market accounts for US$ 9.8 billion.
- The styrene butadiene rubber market is predicted to rise at a CAGR of 5.3% and reach approximate valuation of US$ 16.38 billion by 2032
- Volatility in raw material pricing and stringent government mandates for environment conservation are expected to restrain consumption of styrene butadiene rubber to some extent.
- The APAC styrene butadiene rubber market is estimated to expand at a CAGR of 6.3% and account for US$ 4.92 billion by the end of 2032.
- Application of styrene butadiene rubber in tires is anticipated to reach US$ 7.66 billion by 2032.
“Increasing industrialization and flouring automotive industry in Asia Pacific region will provide highly beneficial opportunities for market players through 2032,” says a Fact.MR analyst
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Winning Strategy
Styrene butadiene rubber manufacturers are focusing on achieving sustainability in their business models to comply with increasingly strict government norms regarding the use of rubber across various applications.
Styrene-butadiene rubber suppliers are expected to increase their focus on manufacturing emulsion SBR and solution SBR owing to the finite availability of natural rubber.
Key Segments Covered in Styrene Butadiene Rubber Industry Research
SBR Market by Product Type :
- Emulsion Styrene Butadiene Rubber Market (E-SBR)
- Solution Styrene Butadiene Rubber Market (S-SBR)
SBR Market by Application :
- Tires
- Footwear
- Polymer Modification
- Adhesives
- Other Applications
SBR Market by Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global styrene butadiene rubber market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of product type (emulsion SBR, solution SBR) and application (tires, footwear, polymer modification, adhesives, other applications), across five major regions (North America, Latin America, Europe, APAC, and MEA).
About the Chemicals and Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analyzed the chemicals and materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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