Solution Styrene Butadiene Rubber (S-SBR) Market Segmentation by Type (Passenger Car, 2W/3W, Light Commercial Vehicle, and Medium & Heavy Commercial Vehicle); by Application (Automotive Tires, Polymer Modification, Footwear, Adhesives, and Others)-Global Demand Analysis & Opportunity Outlook 2031

Global Solution Styrene Butadiene Rubber (S-SBR) Market Highlights Over 2022 - 2031

The global solution styrene butadiene rubber (S-SBR) market is estimated to garner around USD 5 billion in revenue by 2031 by growing at a CAGR of nearly 6% over the forecast period, i.e., 2022 –  2031. The growth of the market can be attributed to the rising applications of S-SBR in footwear and sports industries owing to its high scratch resistance, durability, and high quality. For instance, the global production volume of athletic footwear is expected to reach over 600 million pairs by 2025. Additionally, increasing usage of S-SBR for high performance tires in cars is also expected to boost the market growth. The car sales worldwide raised around over 65 million in 2021, up from around 63 million units in 2020.

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The COVID-19 pandemic had a negative impact on the solution styrene butadiene rubber (S-SBR) market owing to the shutdown of automotive and tire factories, and the closing of borders due to the lockdown. As a result, the demand for automobiles declined sharply which hampered the market growth. Further, other restrictions were also enforced by the governing authorities across the globe which dropped the sales of S-SBR.

However, fluctuating raw material costs and the prices of crude oil directly affecting the butadiene prices are the key factors restraining the growth of the market.  

The market is segmented by application into automotive tires, polymer modification, footwear, adhesives, and others, out of which, the automotive tires segment is anticipated to hold the major share over the forecast period. The growth can be attributed to the increasing demand for passenger vehicles over improving living standards. For instance, in 2021, the estimated number of sales of passenger vehicles was over 56 million globally.  

Global Solution Styrene Butadiene Rubber (S-SBR) Market Regional Synopsis

Regionally, the global solution styrene butadiene rubber (S-SBR) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness significant growth over the forecast period. The growth of the market in the region can be attributed to the increasing demand for tires over the growing automobile industry. For instance, China produced approximately 22 million passenger cars in 2021.

Additionally, China is one of the largest tire manufacturing countries owing to its low operating and labor cost thereby fueling product demand in the region. In 2020, over 800 million tires were produced in China. The rapid industrialization in China, Japan, and India, along with significant improvement in living standards, rising disposable income, introduction of stringent government regulations regarding use of eco-friendly tires, and modernization of vehicles are also the major factors predicted to boost the demand for the solution styrene butadiene rubber (S-SBR) in the upcoming years.

Market Segmentation

Our in-depth analysis of the global solution styrene butadiene rubber (S-SBR) market includes the following segments:

By Type

• Passenger car

• 2W/3W

• Light Commercial Vehicle

• Medium & Heavy Commercial Vehicle

By Application

• Automotive Tires

• Polymer Modification

• Footwear

• Adhesives

• Others

Growth Drivers and Challenges Impacting the Growth of the Global Solution Styrene Butadiene Rubber (S-SBR) Market

Growth Drivers

• Rising applications in footwear and sports industries

• Increasing usage of S-SBR in cars

Challenges

• Fluctuating raw material costs

• Prices of crude oil directly affecting the butadiene prices

Key Companies Dominating the Global Solution Styrene Butadiene Rubber (S-SBR) Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global solution styrene butadiene rubber (S-SBR) market that are included in our report are Asahi Kasei Corporation, The Goodyear Tire & Rubber Company, TSRC, Dynasol Group, Trinseo, Synthos, CHIMEI, JSR Corporation, Sumitomo Chemical Co., Ltd., SIBUR INTERNATIONAL, and others.

Latest Developments in the Global Solution Styrene Butadiene Rubber (S-SBR) Market:

• November 2021: Asahi Kasei Corporation fulfilled an agreement with Shell plc, regarding the supply of butadiene derived from plastic waste and biomass.

• December 2021: Trinseo announced its accomplishment of sales of its synthetic rubber business based in Schkopau, Germany to Synthos.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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