Styrene Butadiene Rubber Market Segmentations:
By Product (E-SBR, S-SBR), By Application (Tire, Footwear, Polymer Modification, Adhesive), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa); End-use Landscape; Vendor Landscape and Competitor Analysis
Market Insights:
The global styrene butadiene rubber market accounted for more than USD 8 billion in 2016. The increasing demand from new automobile and substitution tires is one of the major factors that are likely to drive the styrene butadiene rubber market. Over 70% of the SBR that is produced worldwide is utilised in producing tires.
Natural rubber has been replaced by synthetic rubber over a large number of applications owing to its inherent benefits in terms of stability and physical properties. Moreover, the reduced supply of natural rubber results in high volatility in prices.
The rising demand for high-performance tires from the automotive industry is probably going to boost the tire fabricating industries' demand for higher specification crude materials. In addition, high fuel-efficiency in vehicles is creating the need for low rolling resistance in tires. It is likely to drive the demand for styrene butadiene rubber in the tire industry.
However, stringent administrative structure over the emission of toxic fumes during the generation of SBR is one of the major problems faced by SBR producers. These hurdles are likely to act as a constraint for the worldwide SBR market.
Product Insights:
The products are segmented into emulsion SBR and solution SBR, on the basis of their production process. The largest production segment is emulsion SBR due to the low-cost of production. However, the varied demands from the consumers for high-performance tires are drifting the market towards solution SBR, due to its low rolling resistance property.
The primary raw materials for producing SBR involve styrene and butadiene. These raw materials are further used for the production of footwear, glue and other products. Over 30% of butadiene is consumed by SBR. It is mostly needed to make synthetic rubber, which is likely to raise the use of butadiene over the next few years. Tire industry is anticipated to boost the market growth in the forecast period.
Crude oil prices are directly proportional to the prices of raw materials. The recent drop in the prices of crude oil has reduced the prices of butadiene and styrene. These factors have affected SBR prices over the last few years.
Application Insights:
The market share for S-SBR in footwear application was very high during 2016. It can be used for both manufacturing and multicolour designing of footwear. Due to the smoothness exhibited by S-SBR, it is used to produce good quality products.
It is also used for producing tires due to its properties of abrasion resistance, which enhances the performance of tires. Moreover, the introduction of labelling regulations in different countries is projected to push the utilization of the product in the coming years.
E-SBR is significantly used as a part of polymer modification due to the demand for asphalt emulsions used in the production of chip seal. The high-temperature stability and low-temperature adaptability possessed by the polymers increased the usage of E-SBR.
Regional Landscape:
Asia Pacific ruled the market in 2016 and recorded above 50% of the overall demand. The increasing number of automobile industry in China, India, and Japan is likely to foster the growth of this sector. This is likely to impact the product demand in a positive way. Europe marked a significant share of the market in 2016. Germany, Italy, and France are anticipated to see a significant hike in the demand due to rising tire production.
North America accounted for more than 20% of the worldwide market share in 2016. The factors contributing to such growth are early adoption of the industries and saturation in the market. Due to the slowdown of automobile industry in the U.S., the production of SBR is likely to reduce. However, the increasing population base in Canada and Mexico is likely to drive the overall consumption in this region.
End Use Landscape:
The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase from styrene butadiene rubber Market. The major consumers of the product are Inarco Ltd., Texim International, and Adidas.
Competitive Landscape:
Some of the major manufacturers of this market are Sinopec, Sibur, and China National Petroleum Corporation, Sibur, Sinopec, Lanxes, JSR Corporation etc. Trinseo, a global materials solutions provider declared that it will increase the capacity for (S-SBR). This rise in investment corresponds to increased customer demand for this technology. It is a significant component in increasing energy efficiency and safety in performance tires.
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