The globe Styrene Butadiene Rubber Market is projected to create an absolute dollar opportunity by posting a healthy CAGR of 5.5% between 2022 and 2032. The market is expected to reach $10,584.3 million in 2022 and is expected to exceed $18,079.6 million by 2032.
| Base year value (2021A) | US$2,179.3 million |
| Estimated Annual Value (2022E) | US$2,277.4 million |
| Estimated Annual Value (2027F) | US$2,846.0 million |
| Value CAGR (2022-2027) | 4.5% |
| Collective Value Share: Top 3 Countries (2022E) | 66.3% |
According to FMI’s historical analysis, styrene butadiene rubber sales grew at a CAGR of 5.2% between 2016 and 2021, driven by the deployment of increasing applications such as tires, footwear and polyurethane adhesives among other things. Increasing demand for synthetic and processed rubber is expected to improve sales of styrene butadiene.
End-use industries are rapidly gravitating toward synthetic rubber over natural rubber in the automotive tire industry, which is expected to fuel growth in the styrene butadiene rubber market. In recent years, the use of synthetic rubbers such as styrene-butadiene has experienced impressive growth due to technological advances combined with increasing applications in the industrial and automotive sectors. Based on these factors, Future Market Insights (FMI) expects Styrene Butadiene Rubber sales to reach $18,079.6 million in 2032.
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key factors
- The styrene butadiene rubber is becoming the preferred choice of consumers due to its impeccable properties such as excellent heat resistance, low rolling resistance, wear resistance and abrasion resistance. Therefore, end users in the automotive industry tend towards styrene butadiene rubber. These above factors are expected to propel the expansion of the global Styrene Butadiene Rubber market in the coming years.
- Styrene Butadiene Rubber is in increasing demand due to rising global automobile sales…
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