Solution SBR Market Size, Share, Growth, and Industry Analysis, By Type (Batch s-SBR Process Scheme, Continuous s-SBR Process Scheme), By Application (Tire, Footwear, Polymer Modification, Adhesives & Sealants, Others), Regional Forecast By 2031

Updated On: 22 April 2024

Solution SBR Market Report Overview

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The global solution SBR market size was USD 7330 million in 2022, as per our research, the market is expected to reach USD 17998.76 million in 2031, exhibiting a CAGR of 10.5% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with Solution SBR market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Styrene Butadiene Rubber (SBR) is a synthetic rubber that is commonly used in various applications due to its excellent properties, such as good abrasion resistance, high tensile strength, and good aging stability. SBR is produced through the polymerization of styrene and butadiene monomers. To improve the production process and achieve desired properties, you can focus on optimizing the polymerization conditions, such as temperature, pressure, catalysts, and reaction time. This could lead to better quality SBR with enhanced performance characteristics.

SBR is used in various industries, including automotive, construction, and footwear. Conducting research to identify new application areas or improve existing applications can be a valuable solution. For example, you can investigate new formulations or processing techniques to optimize SBR's performance in tire manufacturing or explore its potential in other industries.

COVID-19 Impact: Pandemic Hampered the Demand for Market

The pandemic has caused a decline in the demand for solution SBR across various industries. Industries such as automotive, construction, and manufacturing experienced significant disruptions due to lockdowns, supply chain disruptions, and reduced consumer spending. This led to a decrease in the demand for SBR, as these sectors are major consumers of the product. The solution SBR market relies on a complex global supply chain, with raw materials sourced from various regions. The pandemic disrupted this global supply chain, causing shortages of raw materials and transportation delays. The lockdown measures and restrictions on international trade resulted in plant shutdowns and reduced production capacity, further affecting the availability of SBR. The pandemic-induced supply chain disruptions, coupled with fluctuations in demand, led to volatile pricing in the SBR market. Uncertainty in raw material prices, production costs, and changing market dynamics made it challenging for industry players to stabilize prices and plan for the future.

Latest Trends

"Rising Demand from Automobile Industry to Fuel Market Growth"

Solution SBR is widely used in the tire manufacturing industry, and with the increasing demand for automobiles worldwide, the demand for SBR has been on the rise. Environmental concerns have prompted the tire industry to explore more sustainable alternatives to SBR. It is also used in the construction industry for applications such as roofing, flooring, and sealants. The growth of the construction sector, especially in developing economies, is expected to drive the demand for SBR.Bio-based SBR derived from renewable sources and synthetic rubber with reduced environmental impact are being developed as potential substitutes. Continuous efforts are being made to enhance the performance properties of SBR, such as improved wear resistance, fuel efficiency, and wet grip, to meet the evolving needs of the tire industry. Advanced polymerization techniques and new catalyst systems are being utilized for these developments.

Solution SBR Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Batch s-SBR process scheme, Continuous s-SBR Process Scheme.

• By Application Analysis

Based on application, the market can be divided into tire, footwear, polymer modification, adhesives & sealants, others.

Driving Factors

"Growing Demand for Consumer Goods to Stimulate Market Growth"

SBR finds applications in a wide range of consumer goods, such as conveyor belts, hoses, gaskets, and sporting goods. The growing population, rising urbanization, and changing lifestyles contribute to the demand for these products, thereby driving the demand for solution SBR. SBR is widely utilized in the production of footwear, especially in the manufacturing of shoe soles. The growth of the global footwear industry, driven by factors such as changing fashion trends, and increasing disposable income, fuels the demand for SBR. Further, SBR is the primary raw material for tire manufacturing, accounting for a significant portion of its overall consumption.

"Increased Demand from Automotive Sector to Fuel Market Growth "

As the global automotive fleet expands, the demand for replacement tires increases, positively impacting the SBR market. The increasing focus on sustainability and environmental regulations drive the demand for eco-friendly alternatives, including bio-based SBR and recycled SBR. The growing awareness of carbon footprint reduction and the implementation of stringent regulations on tire labelling and fuel efficiency further stimulate solution SBR market growth.

Restraining Factors

"Fluctuating Raw Material Prices to Restrict Market Growth "

Solution SBR is derived from petroleum-based feedstocks, and its production is influenced by crude oil prices. Volatility in raw material prices can impact the cost of SBR production, leading to price fluctuations in the market. Further, market faces competition from various alternative materials, such as natural rubber, polybutadiene rubber, and specialty elastomers. These materials may offer similar properties or be tailored for specific applications, posing a challenge for market growth.

 Solution SBR Market Regional Insights

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"Advanced Manufacturing Sector in Asia-Pacific to Drive Market Expansion"

Asia-Pacific holds the leading position in solution SBR market share. The region has a robust manufacturing sector, which drives the demand for SBR in various industries such as automotive, construction, and footwear. Countries like China, India, and Japan have witnessed significant growth in these sectors, contributing to the overall demand for SBR. Additionally, the availability of raw materials and cost-effective labor in the Asia-Pacific region has attracted global manufacturers, leading to the establishment of production facilities and the subsequent growth of the market.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Growth"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are Asahi Kasei, Firestone, JSR, LANXESS, Michelin, Goodyear, Trinseo, Kumho Petr, Dynasol, Zeon, LG Chem, Eni, Sibur, Sumitomo, TSRC, Chi Mei, NKNH, Karbochem, Sinopec, CNPC. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

List of Market Players Profiled

• Asahi Kasei
• Firestone
• JSR
• LANXESS
• Michelin
• Goodyear
• Trinseo
• Kumho Petr
• Dynasol
• Zeon
• LG Chem
• Eni
• Sibur
• Sumitomo
• TSRC
• Chi Mei
• NKNH
• Karbochem
• Sinopec
• CNPC

Report Coverage

This report examines an understanding of the Solution SBR market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.