Styrene Butadiene Rubber (SBR) Market 2021 | Latest Technological Advancement, Industry Trends, Competitive Landscape, Explosive Factors of Revenue by Key Vendors Size Forecast Analysis 2030

In a recent published report, Kenneth Research has updated the market report for Styrene Butadiene Rubber (SBR) Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Styrene Butadiene Rubber (SBR) Market products.

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According to the statistics by the Food and Agricultural Organization (FAO) of the United Nations, the total amount of pesticides used around the world grew from 3,089,827 tonnes in 2000 to 4,122,334 tonnes in 2018. Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.

The global Styrene Butadiene Rubber (SBR) market is anticipated to reach USD 14.74 billion by 2026 According to a new study published by Polaris Market Research.

Styrene Butadiene Rubber (SBR) is a synthetic rubber produced by the co-polymerization of butadiene and styrene. Global Styrene Butadiene Rubber (SBR) market demand is largely driven by the manufacturing of tire and related products. Automotive industry is the largest application segment for this synthetic rubber. Rapid growth in the manufacturing of crossover utility vehicles (CUV), SUVs, and battery electric vehicles (BEVs) have led to higher consumption of SBR in the manufacturing sector.

Many other applications have also driven the demand for SBR substantially. Footwear, consumer products, industrial hoses, conveyor belts, automotive applications excluding tires, and extruded rubber goods are other applications that consume synthetic butadiene rubber for the end-product manufacturing.

Growing global population coupled with the increase in disposable incomes of consumers has led to growth of many end-use industries that have high consumption of SBR. Strong economic performance, consumer preference for modern & sustainable products such as electric vehicles, falling value of old diesel cars, and steady growth of many middle-income countries across the world are some of the vital growth forces for the end-use rubber industries.

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SBR is of two types, emulsion SBR (ESBR) and Solution SBR (SSBR). Though ESBR accounted for the largest market share, but SSBR has witnessed momentum in the recent past. This is on account of the rising demand for low rolling-resistance tires to decrease carbon dioxide emissions and reduce fuel consumption. Moreover, SSBR has efficiently adapted to the growing stringent specifications of the high-performance tires.

The most significant growth regions with large consumption of SBR include Northeast Asia, mainly Taiwan and Indian subcontinent. The largest capacity additions in the period of 2012-17 were witnessed in Southeast Asia (Singapore and Thailand), South Korea, China, and Central Europe. Though China witnessed decline in the Styrene Butadiene Rubber (SBR) growth in past five years, but continues to be the largest consumer.

ESBR witnessed decline in most of the Styrene Butadiene Rubber (SBR) markets, including the United States, South Korea, Western Europe, Central Europe, and Japan, losing the market to SSBR. The global consumption of SSBR has witnessed a substantial increase in the past five years with faster capacity additions globally. The mature markets such as Japan, Canada, and Europe are anticipated to witness limited growth rate.

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The global styrene butadiene rubber (SBR) market comprises of large number of market players. Some of the key SBR players include Sinopec, LANXESS, China National Petroleum Corporation (CNPC), Kumho Petrochemical, Sibur, JSR Corporation, Trinseo, Eastman Chemical Corporation, Asahi Kasei Chemical Corporation, and Ashland Inc.

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