Dublin, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The "Global Styrene Butadiene Rubber (SBR) Market Outlook to 2028" report has been added to ResearchAndMarkets.com's offering.
The global Styrene Butadiene Rubber (SBR) market is gearing up for substantial growth in the coming years, according to a recent industry report. SBR, a synthetic rubber composed of styrene and butadiene monomers, plays a pivotal role in various sectors, including tire manufacturing, adhesives, footwear, and construction materials.
Market Overview
The report highlights the key factors driving this growth and provides insights into the market's current landscape.
SBR's versatility and exceptional properties, such as excellent heat resistance, wear resistance, low rolling resistance, and aging stability, have contributed to its increasing demand across industries.
One of the primary drivers for the SBR market is the tire manufacturing industry's escalating need for high-performance and safe tires, aimed at enhancing fuel efficiency. The global population's rapid urbanization and the automotive industry's surge, particularly in emerging economies like China and India, have resulted in increased demand for SBR in tire production.
Furthermore, the growing adoption of electric vehicles (EVs) and the shift toward synthetic rubber over natural rubber for various applications have further propelled the SBR market. The rise in demand for rubber with low rolling resistance, abrasion resistance, and excellent heat resistance has played a pivotal role in driving market growth. Government subsidies on EVs and the heightened environmental awareness among consumers have also contributed to the market's expansion.
The report identifies the tire industry as a key consumer of SBR globally. Its versatility and superior properties make SBR the preferred choice for tire manufacturers, leading to increased demand.
Additionally, the construction material industry and the adhesive sector have witnessed substantial growth due to the booming E-Commerce and E-Retail sectors. SBR is extensively used in manufacturing hoses, seals, gaskets, and belts, thanks to its exceptional flex resistance, traction, and shape retention properties.
The Asia Pacific region, particularly China, is anticipated to dominate the SBR market in the coming years. The region's increasing population and rapid industrialization have fueled the demand for automotive vehicles and heavy-duty commercial vehicles. China, with its impressive growth rate and robust automotive industry, is expected to lead the SBR market. The surge in EV sales in the region, coupled with the rising demand for rubber adhesives in structural tapes for green buildings, has further boosted the market.
In the footwear industry, S-SBR, a bio-based synthetic rubber, is gaining traction for its high abrasion resistance and durability, making it ideal for high-performance sports footwear. The availability of efficient distribution networks, such as retail outlets and online shopping platforms, has supported the growth of this segment.
Competitive Landscape
Key players in the global Styrene Butadiene Rubber market include Zeon Corporation, ARLANXEO Holding B.V., Kumho Petrochemicals, L.G. Chem, JSR Corporation, TSRC Corporation, Lion Elastomers, Reliance Industries Limited, Trinseo, and Goodyear Rubber Company, among others.
JSR Corporation recently introduced a Synthetic Butadiene Rubber with significantly improved mechanical strength, wear resistance, and durability, catering to the high-performance tire market.
ARLANXEO, a leading Styrene Butadiene producer, initiated operations in India on January 1, 2021, with the aim of expanding its presence in a promising growth region.
Report Overview
The global Styrene Butadiene market report offers a comprehensive analysis of the industry's current and future state, segmented by type (Emulsion SBR, Solution SBR), application (Tires, Adhesives, Footwear, Others), and geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report delves into market drivers and restraints, with a detailed assessment of the impact of COVID-19 on market growth. It also covers emerging market share, trends, developments, opportunities, and challenges, along with profiles of prominent companies and their market shares and projects.
A selection of companies mentioned in this report includes
- ARLANXEO Holding B.V.
- JSR Corporation
- Lion Elastomers
- Reliance Industries Limited
- Zeon Corporation
- Trinseo
- Kumho Petrochemical
- Goodyear Rubber Company
- LG Chem
- Versalis
- Asahi KASEI
- TSRC Corporation
- PetroChina Company Ltd.
- Sinopec Corp.
- Synthos
For more information about this report visit https://www.researchandmarkets.com/r/owjm08
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