According to the research report titled ‘Global Styrene Butadiene Rubber (SBR) Market, 2021-2027’, available with MarketStudyReport, global styrene butadiene rubber (SBR) market is projected to register a year-over-year growth rate of 4.4% during the forecast period 2021-2027.
Global styrene butadiene rubber (SBR) industry is primarily driven by surging demand for rubber across various end-use industries, especially the automotive sector. Besides this, the research sheds light on the restraints and opportunities influencing the business dynamics.
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Elaborating on the subject, SBR is an artificial rubber produced from a copolymer of butadiene and styrene. It substitutes natural rubber as it offers various advantages such as exceptional crack resistance, abrasion resistance, and better aging properties.
Apart from the aforementioned information, the report forecasts the growth rate, size, and other important metrics concerning the growth trajectory of the market and sub-markets over 2021-2027.
Based on application spectrum, global styrene butadiene rubber (SBR) industry is fragmented into adhesive, polymer modification, footwear, and tire. Among these, tire segment is slated to record strong gains in the forthcoming years, creditable to product demand from automotive sector for imparting superior abrasion resistance property to the tires manufactured. Further, introduction of labeling regulations across various economies is expected to boost segment expansion.
Considering the analysis, the market size spans across North America, South America, Asia Pacific, Middle East & Africa, and Europe. Asia Pacific market has recorded strong growth in the past and will likely maintain an upward trend over the forecast duration, mainly due to rapidly progressing automotive industry in Japan, India, and China.
Speaking of the competitive landscape, major players in global styrene butadiene rubber (SBR) business sphere are Versalis S.p.A., Trinseo S.A., Sumitomo Chemical Asia Pte Ltd., LG Chem Ltd., Kumho Petrochemical Co. Ltd., China Petroleum & Chemical Corp., Asahi Kasei Corp., and Arlanxeo Holding B.V. among others.
Experts cite that petrochemical companies with a larger capacity of processing materials in bulk qualities will likely gain an advantage. Moreover, deeper integration across the value chain along with other strategic undertakings like acquisitions and mergers are expected to help businesses improve their positioning over the forecast duration.
Questions & Answers: Global Styrene Butadiene Rubber (SBR) Market
Q1: What are the major growth driving factors of global styrene butadiene (SBR) market?
A: Global styrene butadiene rubber (SBR) industry is primarily driven by surging demand for rubber across various end-use industries, especially the automotive sector.
Q2: Which are the major stakeholders in global styrene butadiene (SBR) market?
A: Prominent companies that account for majority of global styrene butadiene (SBR) market share are Versalis S.p.A., Trinseo S.A., Sumitomo Chemical Asia Pte Ltd., LG Chem Ltd., Kumho Petrochemical Co. Ltd., China Petroleum & Chemical Corp., Asahi Kasei Corp., and Arlanxeo Holding B.V. among others.
Q3: Why is Asia Pacific styrene butadiene (SBR) market recording strong growth?
A: Asia Pacific market is mainly fueled by rapidly progressing automotive industry in Japan, India, and China.
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