The market for Styrene butadiene rubber is expected to grow at a CAGR of over 5% during the forecast period.
In particular, Styrene butadiene rubber has the highest market share in the synthetic rubber market. This allows a good stability and a high abrasion resistance, making it a good choice for use in the tire manufacturing industry.
Styrene butadiene rubber is made up of a combination of styrene and butadiene and it is produced through two processes: emulsion polymerization and solution polymerization.
Around 50% of the car tires are made up of this type of rubber, present in a blend with natural rubber, and for the low-end tires, the ratio of Styrene butadiene rubber to natural rubber is lower, in order to reduce the cost of production. Although this reduces the overall life of tires, it is a cost-effective option.
The high growth rate of the end-user industries in the Asia-Pacific, as well as the Middle East & African regions, is expected to help Styrene butadiene rubber to account for the highest market share during the forecast period.
Asia-Pacific area dominates the synthetic rubber market owing to the high demand from countries like India and China. In particular, China had become the largest producer, consumer, and importer of synthetic rubber, in recent years, globally.