Styrene Butadiene Rubber Market To Reach $68.01 Billion By 2030

Styrene Butadiene Rubber Market Growth & Trends

The global styrene butadiene rubber market size is expected to reach USD 68.01 billion by 2030, registering a CAGR of 5.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Significant increase in the demand for OEM tires from the automobile industry is likely to augment the utilization of styrene butadiene rubber (SBR) over the forecast period. In addition, long vehicle life coupled with a shift in consumer preference toward high-performance tires is likely to have a positive impact on the growth over the next nine years.

In the recent times, the demand supply gap for natural rubber (NR) has widened, making the prices of the commodity a matter of concern. In 2016, the growth in supply of natural rubber was 1.1% while the demand grew at a rate of about 6%. This deficit has been exerting a pressure on the supplies and leading to a high volatility in the prices, which in turn has been a major driver for the growth of the SBR industry.

Over the last five years, the average consumption of synthetic rubber has been higher than NR by about 3,500 kilo tons per year. SBR is the highest consumed synthetic rubber, accounting for over 45% of consumption. Therefore, the restraints faced by the NR industry act as the major drivers for the synthetic rubber market.

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Styrene Butadiene Rubber Market Report Highlights

• The E SBR segment held the largest market revenue share of 66.2% in 2023. E-SBR offers excellent abrasion resistance, good aging stability, and an affordable production cost, making it suitable for use in a variety of products.

• S-SBR is projected to grow at the fastest CAGR of 8.2% over the forecast period. The growing footwear industry fuels the demand for durable and flexible materials, significantly driving the demand for S-SBR.

• North America styrene butadiene rubber market held the largest market revenue share of 41.3% in 2023. The region’s dominance can be attributed to its well-developed automotive industry, ongoing infrastructure expansion, and the rising need for consumer goods drives the increased utilization of styrene butadiene rubber in the region.

Styrene Butadiene Rubber Market Segmentation

Grand View Research has segmented the global styrene butadiene rubber market on the basis of on application and region:

Styrene Butadiene Rubber Application Outlook (Revenue, USD Million, Volume in Kilo Tons, 2018 - 2030)

• E SBR

  • Tire

  • Footwear

  • Construction

  • Polymer Modification

  • Adhesive

  • Others

• S SBR

  • Tire

  • Footwear

  • Polymer Modification

  • Adhesive and Sealant

  • Others

Styrene Butadiene Rubber Regional Outlook (Revenue, USD Million, Volume in Kilo Tons, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

  • Thailand

  • Indonesia

  • Malaysia

• Central And South America

  • Brazil

  • Argentina

• Middle East And Africa (MEA)

  • South Africa

  • Saudi Arabia

List of Key Players in the Styrene Butadiene Rubber Market

• ARLANXEO

• Asahi Kasei Corporation

• China Petrochemical Corporation6.

• ENEOS Corporation

• Kemipex

• KUMHO PETROCHEMICAL

• LANXESS

• LG Chem

• Sumitomo Chemical Asia Pte Ltd

• Synthos

• Trinseo

• Versalis SpA