The global emulsion styrene butadiene rubber market was valued at US$ 6,458.3 million in 2018, according to Global Emulsion Styrene Butadiene Rubber Market Report, by Product Type (Cold E-SBR, Hot Polymers, High Styrene Masterbatch, and Others), by Application (Automotive Tires, Adhesives & Sealants, Mechanical Goods, Industrial Rubber Parts (Hoses/Belts, Gaskets, and Seals), and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.
The global emulsion styrene butadiene rubber market is expected to reach US$ 8,380.3 million by 2027, exhibiting a CAGR of 4.0% during the forecast period, owing to increasing demand for emulsion styrene butadiene rubber from various end-use industries such as automotive and construction. Moreover, E-SBR is used in the production of adhesives & sealants, which are utilized in the construction industry. Thus, growth in the construction industry is expected to boost market growth of the emulsion styrene butadiene rubber over the forecast period. For instance, in 2015, Global Construction Perspectives and Oxford Economics together stated that the global construction market is set to grow by US$ 8 trillion by 2030, reaching a total size of US$ 17.5 trillion by exhibiting a CAGR of 3.9% by 2030
However, threat of substitutes such as solution styrene butadiene rubber is expected to hamper the market growth of emulsion styrene butadiene rubber over the forecast period. Solution styrene butadiene rubber can be used as a substitute for emulsion styrene butadiene rubber, owing to similar properties. For instance, solution styrene butadiene rubber has high molecular weight and high tensile strength. Moreover, solution styrene butadiene rubber is used for manufacturing of various rubber goods such as tires, conveyor belts, and footwear, among others.
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Key Trends and Analysis of the Global Emulsion Styrene Butadiene Rubber Market:
- Among product type, high styrene masterbatch rubber segment is expected to be the fastest growing segment in the global emulsion styrene butadiene rubber market over the forecast period. High styrene masterbatch is used for improving the stiffness/hardness for its various applications such as extrusions, hard rubber compounds, shoe soles, and floor tiles, among others. Moreover, high styrene masterbatch is utilized as a stiffener in tires. Furthermore, increasing demand for automobiles is expected to drive the high styrene masterbatch segment growth. For instance, according to the American Automotive Policy Council, the U.S. car production in 2017 was 11.3 million units of vehicles.
- Governments of numerous nations are imparting regulatory measures such as anti-dumping duties, in order to protect their domestic markets. For instance, in January 2019, the government of Mexico imposed anti-dumping policies on the import of emulsion styrene-butadiene rubber from the countries such as Republic of Korea, the U.S., and Japan. The rate of duty on imports from the U.S., Republic of Korea, and Japan include US$ 0.34075, US$ 0.11378, and US$ 0.23556 (per kilogram), respectively. This antidumping policy is applied to protect the domestic market of E-SBR in Mexico in terms of pricing.
Key Takeaways of the Market:
- Europe is expected to account for a significant market share in the global emulsion styrene butadiene rubber market over the forecast period. This is attributed to increasing demand for E-SBR from the automotive industry. For instance, according to the European Automobile Manufacturers Association, in 2018, Europe manufactured a total of 22,777 thousand units of vehicles in the region, which was around 23% of the global vehicle production. This is expected to boost demand for E-SBR automotive tires and industrial rubber parts in Europe during the forecast period.
- Numerous key players in the market are focusing on recycling of waste generated from tires and waste rubbers, which includes E-SBR or solution-polymerized styrene-butadiene rubbers as a component to produce eco-friendly rubber based product. For instance, Ecotech Recycling Ltd, an Israel-based technology company, is engaged in the manufacturing of Active Rubber (AR), a new type of synthetic rubber, which re-uses waste rubber to manufacture green rubber-based products.
- Major players operating in the global emulsion styrene butadiene rubber market include Arlanxeo, China Petroleum & Chemical Corporation (SINOPEC), Indian Synthetic Rubber Ltd. (ISRL), JSR Corporation, Kumho Petrochemical Co., Ltd., LG Chem. Ltd., PetroChina Company Ltd., Reliance Industries Ltd., Sibur Petrochemical Company, Synthos, Taiwan Synthetic Rubber Corporation (TSRC), Trinseo, Versalis S.p.A. (Eni), and ZEON Corporation.