Solution Styrene Butadiene Rubber Market
Growth Factors of Solution Styrene Butadiene Rubber Market
The solution styrene butadiene rubber market size was valued at USD 4.49 billion in 2022, and the market is now projected to grow from USD 4.67 billion in 2023 to USD 6.25 billion by 2030, exhibiting a CAGR of 4.2% during the forecast period of 2023-2030.
Several states have confirmed limitations on the delivery and shipping of raw materials, disturbing the value chain of rubber producers. The occurrence of COVID-19 has expressively affected firms' revenue generation. After the first production and supply disturbances, the automotive sector experienced a demand shock with an uncertain timeline for recovery due to shelter-in-place guidelines. This further had an influence on the consumption of rubber.
Polymer alteration plays a substantial role in boosting the solution styrene butadiene rubber market development. Polymer modification methods can be used to modify the things of S-SBR to meet precise performance necessities. By altering the polymer structure, producers can augment the properties of the rubber, such as abrasion resistance, wet grip, and fuel effectiveness. This customization creates the product better-looking to numerous industries, comprising automotive tire manufacturing.
The incidence of strong manufacturing and the automotive industry can expressively help the market. The automotive industry is one of the key clients of solution styrene butadiene rubber, using it in tire business. A booming automotive sector with expanding automobile creating leads to augmented demand to produce high-performance tires. This steady demand drives the solution styrene butadiene rubber market growth.
Comprehensive Analysis of Solution Styrene Butadiene Rubber Market
The market can be segmented in various ways, depending on the focus of analysis such as by application. Based on application, the market is segmented into tires, polymer modification, adhesives & sealants, footwear, and others.
North America region is dominating the solution styrene butadiene rubber market share due to foremost maker of rubber universally. The rapidly growing automotive industry is propelling the demand for products in the region.
The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include ARLANXEO (Netherlands), SIBUR (Russia), LG Chem (South Korea), The Goodyear Tire & Rubber Company (U.S.), Sinopec (China), JSR Corporation (Japan), Dynasol Group (Spain), Asahi Kasei Corporation (Tokyo), Sumitomo Chemical Asia Pte Ltd. (Japan), Trinseo (U.S.), Versalis (Italy) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.
In August 2023, Goodyear team up with German automotive brand Opel to progress a novel custom tire for the Opel experimental concept car. This partnership between the two brands specifies the company's promise to augmenting the vehicle's aerodynamic performance, ensuing in great energy efficiency.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 4.2% from 2023-2030
Unit Volume (Kiloton), Value (USD Billion)
Segmentation
By Application
Tires
Polymer Modification
Adhesives & Sealants
Footwear
Others
By Geography
North America (By Application and Country)
U.S. (By Application)
Canada (By Application)
Mexico (By Application)
Europe (By Application and Country)
Germany (By Application)
U.K. (By Application)
France (By Application)
Italy (By Application)
Rest of Europe (By Application)
Asia Pacific (By Application and Country)
China (By Application)
India (By Application)
Japan (By Application)
South Korea (By Application)
Rest of Asia Pacific (By Application)
Latin America (By Application and Country)
Brazil (By Application)
Rest of Latin America (By Application)
Middle East & Africa (By Application and Country)
South Africa (By Application)
Saudi Arabia (By Application)
Rest of the Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Market Trends
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Insights on Regulatory Scenario
- 4.4. Latest Technological Advancement
- 4.5. Porter’s Five Forces Analysis
- 5. Qualitative Insights on Impact of Covid-19 on the Market
- 5.1. Supply Chain Challenges
- 5.2. Steps taken by Companies to Overcome the Impact
- 5.3. Potential Challenges and Opportunities due to COVID-19 Outbreak
- 6. Global Solution Styrene Butadiene Rubber Market Analysis, Insights and Forecast, 2019-2030
- 6.1. Key Findings
- 6.2. By Application
- 6.2.1. Tires
- 6.2.2. Polymer Modification
- 6.2.3. Adhesives & Sealants
- 6.2.4. Footwear
- 6.2.5. Others
- 6.3. By Region
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. Asia Pacific
- 6.3.4. Latin America
- 6.3.5. Middle East & Africa
- 7. North America Solution Styrene Butadiene Rubber Market Analysis, Insights and Forecast, 2019-2030
- 7.1. Key Findings
- 7.2. By Application
- 7.2.1. Tires
- 7.2.2. Polymer Modification
- 7.2.3. Adhesives & Sealants
- 7.2.4. Footwear
- 7.2.5. Others
- 7.3. By Country
- 7.3.1. U.S.
- 7.3.1.1. By Application
- 7.3.1.1.1. Tires
- 7.3.1.1.2. Polymer Modification
- 7.3.1.1.3. Adhesives & Sealants
- 7.3.1.1.4. Footwear
- 7.3.1.1.5. Others
- 7.3.2. Canada
- 7.3.2.1. By Application
- 7.3.2.1.1. Tires
- 7.3.2.1.2. Polymer Modification
- 7.3.2.1.3. Adhesives & Sealants
- 7.3.2.1.4. Footwear
- 7.3.2.1.5. Others
- 7.3.3. Mexico
- 7.3.3.1. By Application
- 7.3.3.1.1. Tires
- 7.3.3.1.2. Polymer Modification
- 7.3.3.1.3. Adhesives & Sealants
- 7.3.3.1.4. Footwear
- 7.3.3.1.5. Others
- 8. Europe Solution Styrene Butadiene Rubber Market Analysis, Insights and Forecast, 2019-2030
- 8.1. Key Findings
- 8.2. By Application
- 8.2.1. Tires
- 8.2.2. Polymer Modification
- 8.2.3. Adhesives & Sealants
- 8.2.4. Footwear
- 8.2.5. Others
- 8.3. By Country
- 8.3.1. Germany
- 8.3.1.1. By Application
- 8.3.1.1.1. Tires
- 8.3.1.1.2. Polymer Modification
- 8.3.1.1.3. Adhesives & Sealants
- 8.3.1.1.4. Footwear
- 8.3.1.1.5. Others
- 8.3.2. U.K.
- 8.3.2.1. By Application
- 8.3.2.1.1. Tires
- 8.3.2.1.2. Polymer Modification
- 8.3.2.1.3. Adhesives & Sealants
- 8.3.2.1.4. Footwear
- 8.3.2.1.5. Others
- 8.3.3. France
- 8.3.3.1. By Application
- 8.3.3.1.1. Tires
- 8.3.3.1.2. Polymer Modification
- 8.3.3.1.3. Adhesives & Sealants
- 8.3.3.1.4. Footwear
- 8.3.3.1.5. Others
- 8.3.4. Italy
- 8.3.4.1. By Application
- 8.3.4.1.1. Tires
- 8.3.4.1.2. Polymer Modification
- 8.3.4.1.3. Adhesives & Sealants
- 8.3.4.1.4. Footwear
- 8.3.4.1.5. Others
- 8.3.5. Rest of Europe
- 8.3.5.1. By Application
- 8.3.5.1.1. Tires
- 8.3.5.1.2. Polymer Modification
- 8.3.5.1.3. Adhesives & Sealants
- 8.3.5.1.4. Footwear
- 8.3.5.1.5. Others
- 9. Asia Pacific Solution Styrene Butadiene Rubber Market Analysis, Insights and Forecast, 2019-2030
- 9.1. Key Findings
- 9.2. By Application
- 9.2.1. Tires
- 9.2.2. Polymer Modification
- 9.2.3. Adhesives & Sealants
- 9.2.4. Footwear
- 9.2.5. Others
- 9.3. By Country
- 9.3.1. China
- 9.3.1.1. By Application
- 9.3.1.1.1. Tires
- 9.3.1.1.2. Polymer Modification
- 9.3.1.1.3. Adhesives & Sealants
- 9.3.1.1.4. Footwear
- 9.3.1.1.5. Others
- 9.3.2. India
- 9.3.2.1. By Application
- 9.3.2.1.1. Tires
- 9.3.2.1.2. Polymer Modification
- 9.3.2.1.3. Adhesives & Sealants
- 9.3.2.1.4. Footwear
- 9.3.2.1.5. Others
- 9.3.3. Japan
- 9.3.3.1. By Application
- 9.3.3.1.1. Tires
- 9.3.3.1.2. Polymer Modification
- 9.3.3.1.3. Adhesives & Sealants
- 9.3.3.1.4. Footwear
- 9.3.3.1.5. Others
- 9.3.4. South Korea
- 9.3.4.1. By Application
- 9.3.4.1.1. Tires
- 9.3.4.1.2. Polymer Modification
- 9.3.4.1.3. Adhesives & Sealants
- 9.3.4.1.4. Footwear
- 9.3.4.1.5. Others
- 9.3.5. Rest of Asia Pacific
- 9.3.5.1. By Application
- 9.3.5.1.1. Tires
- 9.3.5.1.2. Polymer Modification
- 9.3.5.1.3. Adhesives & Sealants
- 9.3.5.1.4. Footwear
- 9.3.5.1.5. Others
- 10. Latin America Solution Styrene Butadiene Rubber Market Analysis, Insights and Forecast, 2019-2030
- 10.1. Key Findings
- 10.2. By Application
- 10.2.1. Tires
- 10.2.2. Polymer Modification
- 10.2.3. Adhesives & Sealants
- 10.2.4. Footwear
- 10.2.5. Others
- 10.3. By Country
- 10.3.1. Brazil
- 10.3.1.1. By Application
- 10.3.1.1.1. Tires
- 10.3.1.1.2. Polymer Modification
- 10.3.1.1.3. Adhesives & Sealants
- 10.3.1.1.4. Footwear
- 10.3.1.1.5. Others
- 10.3.2. Rest of Latin America
- 10.3.2.1. By Application
- 10.3.2.1.1. Tires
- 10.3.2.1.2. Polymer Modification
- 10.3.2.1.3. Adhesives & Sealants
- 10.3.2.1.4. Footwear
- 10.3.2.1.5. Others
- 11. Middle East & Africa Solution Styrene Butadiene Rubber Market Analysis, Insights and Forecast, 2019-2030
- 11.1. Key Findings
- 11.2. By Application
- 11.2.1. Tires
- 11.2.2. Polymer Modification
- 11.2.3. Adhesives & Sealants
- 11.2.4. Footwear
- 11.2.5. Others
- 11.3. By Country
- 11.3.1. South Africa
- 11.3.1.1. By Application
- 11.3.1.1.1. Tires
- 11.3.1.1.2. Polymer Modification
- 11.3.1.1.3. Adhesives & Sealants
- 11.3.1.1.4. Footwear
- 11.3.1.1.5. Others
- 11.3.2. Saudi Arabia
- 11.3.2.1. By Application
- 11.3.2.1.1. Tires
- 11.3.2.1.2. Polymer Modification
- 11.3.2.1.3. Adhesives & Sealants
- 11.3.2.1.4. Footwear
- 11.3.2.1.5. Others
- 11.3.3. Rest of Middle East & Africa
- 11.3.3.1. By Application
- 11.3.3.1.1. Tires
- 11.3.3.1.2. Polymer Modification
- 11.3.3.1.3. Adhesives & Sealants
- 11.3.3.1.4. Footwear
- 11.3.3.1.5. Others
- 12. Competitive Analysis
- 12.1. Company Market Share/Market Ranking Analysis, By Key Players
- 12.2. Company Profiles
- 12.2.1. ARLANXEO
- 12.2.1.1. Overview
- 12.2.1.2. Product Portfolio
- 12.2.1.3. Recent Developments
- 12.2.1.4. Strategies
- 12.2.1.5. Financials (Based on Data Availability)
- 12.2.2. SIBUR
- 12.2.2.1. Overview
- 12.2.2.2. Product Portfolio
- 12.2.2.3. Recent Developments
- 12.2.2.4. Strategies
- 12.2.2.5. Financials (Based on Data Availability)
- 12.2.3. LG Chem
- 12.2.3.1. Overview
- 12.2.3.2. Product Portfolio
- 12.2.3.3. Recent Developments
- 12.2.3.4. Strategies
- 12.2.3.5. Financials (Based on Data Availability)
- 12.2.4. The Goodyear Tire & Rubber Company
- 12.2.4.1. Overview
- 12.2.4.2. Product Portfolio
- 12.2.4.3. Recent Developments
- 12.2.4.4. Strategies
- 12.2.4.5. Financials (Based on Data Availability)
- 12.2.5. Sinopec
- 12.2.5.1. Overview
- 12.2.5.2. Product Portfolio
- 12.2.5.3. Recent Developments
- 12.2.5.4. Strategies
- 12.2.5.5. Financials (Based on Data Availability)
- 12.2.6. JSR Corporation
- 12.2.6.1. Overview
- 12.2.6.2. Product Portfolio
- 12.2.6.3. Recent Developments
- 12.2.6.4. Strategies
- 12.2.6.5. Financials (Based on Data Availability)
- 12.2.7. Dynasol Group
- 12.2.7.1. Overview
- 12.2.7.2. Product Portfolio
- 12.2.7.3. Recent Developments
- 12.2.7.4. Strategies
- 12.2.7.5. Financials (Based on Data Availability)
- 12.2.8. Asahi Kasei Corporation
- 12.2.8.1. Overview
- 12.2.8.2. Product Portfolio
- 12.2.8.3. Recent Developments
- 12.2.8.4. Strategies
- 12.2.8.5. Financials (Based on Data Availability)
- 12.2.9. Sumitomo Chemical Asia Pte Ltd.
- 12.2.9.1. Overview
- 12.2.9.2. Product Portfolio
- 12.2.9.3. Recent Developments
- 12.2.9.4. Strategies
- 12.2.9.5. Financials (Based on Data Availability)
- 12.2.10. Trinseo
- 12.2.10.1. Overview
- 12.2.10.2. Product Portfolio
- 12.2.10.3. Recent Developments
- 12.2.10.4. Strategies
- 12.2.10.5. Financials (Based on Data Availability)
- 12.2.11. Versalis
- 12.2.11.1. Overview
- 12.2.11.2. Product Portfolio
- 12.2.11.3. Recent Developments
- 12.2.11.4. Strategies
- 12.2.11.5. Financials (Based on Data Availability)
- 13. Strategic Recommendations
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