The global solution styrene butadiene rubber market is expected to exceed USD 6.8 billion by 2022, according to a new report by Grand View Research, Inc. Growing demand for solution styrene butadiene rubber in the manufacturing of tires is expected to play a major role in market growth. Tire manufacturers have been striving to ensure superior performance with better fuel-efficiency in order to meet regulations. These regulations cannot be met by the use of E-SBR and hence tire manufacturers are compelled to use S-SBR in their production process. This has boosted demand for the product with major companies starting to manufacture their products using E-SBR. In addition, some manufacturers are utilizing their E-SBR production facilities for S-SBR manufacturing in light of the growing demand.
The largest application segment includes tires and it was valued at USD 3.34 billion in 2014. In addition, it is expected to witness fastest growth over the forecast period owing to increasing demand for high-performance tires. Tire labeling regulations imposed by various countries including Japan, Germany, and South Korea are expected to have a positive impact on growth. Furthermore, various other countries such as China, the U.S., and India are expected to impose tire-labeling regulations on tire manufacturers over the next few years, which is likely to propel demand for the product over the forecast period.
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Further key findings from the study suggest:
- S-SBR demand in adhesives & sealants was 51.8 kilo tons in 2014. It is widely used in the adhesive industry for lamination, caulking, wall tiles, and paper coating among others. It is also used as a sealant owing to its superior properties. The adhesive application comprises a small section of the S-SBR market and would show significant growth over the next seven years.
- Europe’s demand for solution styrene butadiene rubber was 813.4 kilo tons, growing at a CAGR of 7.1% from 2015 to 2022. The new EU tire labeling regulations, which came into effect from November 2012, is a key factor in the increased demand for S-SBR. In addition, with the opening of the export window to Asia, which is the largest consumer of S-SBR, there is a high demand for the product in the European region.
- ROW accounted for fewer than 13% of global solution styrene butadiene rubber market volume in 2014 and is expected to grow at a CAGR of 7.2% from 2015 to 2022. Growth of S-SBR in these regions is due to expanding automobile industry. It is used in making tires, which are used in both new automobiles as well as replacement of older automobiles.
- Solution styrene butadiene rubber market is in nascent stages, particularly in Middle East & Africa owing to lack of tire manufacturing industries. These regions are dependent on imports from Europe and Asia Pacific. As a result, demand for S-SBR is expected to be low over the forecast period.
- Key players in the seed treatment market include Bridgestone Corporation, LG Chemicals, Asahi Kasei, Styron (Trinseo), Tianjin Lugang Petroleum and Rubber, China National Petroleum Corporation (CNPC), Sinopec, Michelin, Lanxess, Goodyear Tire and Rubber Company, Dynasol Elastomers, Sibur Holding JSC, Taiwan Synthetic Rubber Corporation, JSR Corporation, and Sumitomo Chemicals.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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