SEATTLE, May 20, 2020 (GLOBE NEWSWIRE) -- The global emulsion styrene butadiene rubber market was valued at US$ 6,458.3 Mn in 2018, and is expected to exhibit a CAGR of 4.0% over the forecast period (2019-2027), in terms of revenue.
Key Trends and Analysis:
The emulsion styrene butadiene rubber market is expected to witness significant growth over the forecast period, owing to the growing construction industry. E-SBR is used in the production of adhesives & sealants, which are utilized in the construction industry. For instance, according to the Global Construction Perspectives and Oxford Economics, the global construction industry is expected to increase to US$ 15.5 trillion by the end of 2030, led by three countries including China, U.S., and India. Moreover, according to the same source, the construction market in India will grow almost twice as China by 2030.
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Moreover, rapidly changing fashion trends is expected to be a key driver in the global emulsion styrene butadiene rubber market. Emulsion styrene butadiene rubber has applications in manufacturing footwear, among other rubber goods. The footwear fashion trends are positively impacting the emulsion styrene butadiene rubber market. Moreover, increasing disposable income and changing lifestyles are factors that are driving demand for different varieties of footwear. For instance, the Office for National Statistics stated that the median household disposable income in the UK was US$ 38,288.2 in the financial year 2019, up by 1.4% or US$ 520 when compared with financial year 2018.
Moreover, various advantages offered by emulsion styrene butadiene rubber (E-SBR) is expected to drive the global market in the forecast period. E-SBR is widely utilized in polymer modification of asphalt emulsions, which is used in the production of micro-surfacing fix formulation and chip seal.
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Key Market Takeaways:
- The global emulsion styrene butadiene rubber market is expected to exhibit a CAGR of 4.0% during the forecast period in terms of revenue. Among applications, automotive tires segment accounted for the maximum share in 2018 in the global emulsion styrene butadiene rubber market. The demand for emulsion styrene butadiene rubber (E-SBR) is increasing, owing to growth of the automotive industry, globally. For instance, according to the European Automobile Manufacturers Association, in 2017, Asia Pacific was the dominant region in the global motor vehicles market accounting market share of 53%, followed by Europe with 23%, North America by 18%, South America by 3%, and Middle East, and Africa by 3% of the global production of 98.9 million units of motor vehicles.
- Among regions, Asia Pacific accounted for the largest market share, in terms of revenue, in the global emulsion styrene butadiene rubber, in 2018. Moreover, Asia Pacific is expected to witness significant growth in the E-SBR market over the forecast period, owing to increasing applications of E-SBR in manufacturing and automotive industry. Significant growth in the automotive industry in emerging economies of the region such as China and India is expected to fuel demand for E-SBR in the region. For instance, according to the U.S. International Trade Organization (ITA) 2017, China was the world’s largest vehicle market, reporting sales of over 28 million units in 2016, which is expected to reach 35 million units by 2025.
- Prominent players operating in the emulsion styrene butadiene rubber are focusing on utilizing advanced technology in the manufacturing of emulsion styrene butadiene rubber to strengthen their position in the global market. For instance, Versalis S.p.A. utilizes advanced design features in polymerization of E-SBR.
Key companies operating in the global emulsion styrene butadiene rubber include—
Arlanxeo, China Petroleum & Chemical Corporation (SINOPEC), Indian Synthetic Rubber Ltd. (ISRL), JSR Corporation, Kumho Petrochemical Co., Ltd., LG Chem. Ltd., PetroChina Company Ltd., Reliance Industries Ltd., Sibur Petrochemical Company, Synthos, Taiwan Synthetic Rubber Corporation (TSRC), Trinseo, Versalis S.p.A. (Eni), and ZEON Corporation.
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Market Segmentation:
- Global Emulsion Styrene Butadiene Rubber Market, By Product Type:
- Cold E-SBR
- Hot Polymers
- High Styrene Masterbatch
- Others
- Global Emulsion Styrene Butadiene Rubber Market, By Application:
- Automotive Tires
- Adhesives & Sealants
- Mechanical Goods
- Industrial Rubber Parts
- Hoses/Belts
- Gaskets
- Seals
- Others
- Global Emulsion Styrene Butadiene Rubber Market, By Region:
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- North Africa
- Central Africa
- South Africa
- North America