December 15, 2023 08:33 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, Dec. 15, 2023 (GLOBE NEWSWIRE) -- The global solution styrene butadiene rubber market size was valued at USD 4.49 billion in 2022 and is projected to grow from USD 4.67 billion in 2023 to USD 6.25 billion by 2030, exhibiting a CAGR of 4.2% during the forecast period. Low CIS Polybutadiene Rubber
Solution Styrene Butadiene Rubber (S-SBR) is a synthetic rubber compound utilized in tires and various other rubber products. It's a copolymer derived from polymerizing two primary monomers, butadiene and styrene. The robust automotive and manufacturing industries are anticipated to be key drivers of market growth during the forecast period.
Fortune Business Insights™ mentioned this in a report titled, “Solution Styrene Butadiene Rubber Market, 2023-2030.”
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List of Key Players Present in the Solution Styrene Butadiene Rubber Market Report:
Report Scope & Segmentation:
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/solution-styrene-butadiene-rubber-market-108707
Growing Use of S-SBR to Produce Tires to Boost Tires Segment Growth
By application, the market is segmented into tires, footwear, polymer modification, adhesives & sealants, and others. The tires segment is expected to hold a larger solution styrene butadiene rubber market share during the forecast period. The increased use of S-SBR in high-performance tire production drives growth in this segment.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Supply Chain Disruptions During the COVID-19 Pandemic Impeded Market Growth
The solution styrene butadiene rubber market experienced negative impacts due to the COVID-19 pandemic. Increased disruptions in the global supply chain hindered market growth. Lockdown restrictions led to decreased demand in the automotive industry, consequently impacting rubber consumption.
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Growing Polymer Modification Tailoring S-SBR Properties to Drive Market Growth
Polymer modification techniques are pivotal in driving the solution styrene butadiene rubber market growth, allowing tailored adjustments to meet precise performance criteria. This customization, refining properties like abrasion resistance and fuel efficiency, enhances its appeal across industries, notably in automotive tire manufacturing.
However, price fluctuations of petrochemical-based raw materials such as styrene and butadiene might hinder market growth during the forecast period.
Growing Automotive Industry to Drive Market Growth in Asia Pacific
Asia Pacific, constituting 49.4% of the global market in 2022, experiences heightened demand driven by its thriving automotive sector. The region, particularly China and India, leads in rubber consumption and production, supported by robust manufacturing and automotive industries.
Europe held a substantial market share in 2022 due to increased demand for solution styrene butadiene rubber and related compounds across various industrial sectors within the region.
Key Players Focus on Increasing Their Presence to Drive Market Growth
Key players in Europe and North America focus on expanding their presence in various Asia Pacific countries to strengthen their market position in the solution styrene butadiene rubber sector. Establishing a strong regional presence, enhancing product offerings, and optimizing distribution channels are strategies to increase global presence.
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Rubber Market Size & Outlook 2020-2027 | Rubber Industry Expected to Worth 51.21 Billion During Forecast Period, States Fortune Business Insights™
Synthetic Rubber Market Size to Grow USD 41.73 Billion by 2029 | With a CAGR of 4.9%
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