Industry Insights
Styrene butadiene rubber (SBR) demand has been increasing over the past few years on account of growing demand from tire industry across the globe. Growing automobiles demand is also anticipated to drive SBR market growth over the forecast period. SBR is the perfect substitute for natural rubber. Less availability of natural rubber is the key factor driving the SBR market over the next six years. SBR is also used in construction sector as sealing and binding agents. Growing construction projects in emerging countries including India and China is anticipated to drive the market over the foreseeable period. SBR has been witnessing significant growth over the last few years on account of increasing demand from major end-use industries including footwear, adhesives and polymer modifications. However, increasing environmental concerns across the world coupled with volatile price of raw materials is likely to hamper the global SBR market over the forecast period.
Product Insights
Based on polymerization process Emulsion SBR (E-SBR) and solution SBR (S-SBR) are manufactured. Monomers used for the polymerization process of SBR are styrene and butadiene. End-use industries of SBR market include tire manufacturing industries, footwear, adhesives, construction and polymer modification.
S-SBR was the largest product segment for SBR market on account of increasing demand from tire manufacturing industries over the last few years, and the trend is expected to continue over the forecast period. Increasing footwear demand is the key factor which is expected to drive S-SBR market over the next six years. E-SBR is used in manufacturing automobiles tires and tire retread compounds. Increasing E-SBR demand in niche applications including conveyor belts, chewing gums, automobile mats, clutch and brake pads, rubber toys and shoe soling is likely to augment the market growth over the forecast period.
Application Insights
Tire manufacturing industry was the largest application segment of SBR over the past few years, and the trend is expected to continue over the forecast period. Tire manufacturing industry is anticipated to witness the fastest growth over the forecast period on account of increasing demand from automobile industry across the globe. Construction sector was the second major application segment, and has been witnessing moderate growth rate over the last few years owing to increasing sealants and binding agents demand in construction activities.
Regional Insights
Asia Pacific was the largest market for SBR over the recent past on account of growing tire manufacturing industries in countries such as China and India. Increasing automobiles demand in this region is the key factor, which is anticipated to fuel the market growth over the next six years. Growing construction sector on account of increasing government spending on infrastructure development in emerging countries such as Brazil, India and China is anticipated to drive SBR market growth over the projected period. Europe was the second major market for SBR on account of matured tire and automobiles markets in this region. North America has been witnessing moderate growth over the recent past owing to existing major tire manufacturing industries including Bridgestone and Michelin in this region.
Competitive Insights
Growing automobiles market is expected to drive the demand for tire over the forecast period, which in turn likely to open opportunities for the SBR market to increase their production capacity. Some key players of SBR market include Bridgestone Group, The Dow chemical Company, Nova Chemicals Corporation, Michelin Group, Good Year Tire and Rubber Company, Continental AG and Sigma-Aldrich Corporation.
