Market Reports

Vietnam exported 1.37 million tons of rubber worth US$2.18 billion during the nine-month period, representing a fall of 2.2% in volume but an increase of 16.4% in value against the same period from last year, according to details given by the Ministry of Industry and Trade.

eport Ocean in its recent study, estimated the Global Styrene Butadiene Rubber (SBR) Market size by value at USD 12.89 billion in 2023. During the forecast period between 2024 and 2030, Report Ocean expects the Global Styrene Butadiene Rubber (SBR) Market size to expand at a CAGR of 7.55% reaching a value of USD 15.63 billion by 2030. The Global Styrene Butadiene Rubber (SBR) Market is propelled by a growing demand for rubber in the automotive sector, the surging sales of footwear featuring rubber soles, rapid industrialization in emerging economies, and the increasing need for high-performance lightweight tires. The constrained availability of natural rubber is expected to drive the demand for various SBR products, including SBR polymers, styrene-butadiene rubber latex, styrene-butadiene rubber powder, carboxylate styrene-butadiene rubber, and others during the forecast period. The growing demand for styrene-butadiene rubber in the industrial sector is also expected to play a pivotal role in shaping the market trajectory up to 2032.

According to analyses by the Mecs Study Centre of the trade association Amaplast, after positive consolidated year-end results for both imports and exports in 2023, imports were consistently lower in the early months of 2024 with respect to the same period a year earlier, with drops entering into the double digits in the second quarter. This is a symptom of lower propensity to invest within a context of contraction in the economy generally and in the industrial sector specifically. The period closed with a drop of 12 percentage points to a value of 483 million euros, with imports noticeably declining from all three main source countries: Germany, China, Austria.

The global market for Carboxylated Nitrile Rubber (XNBR) is experiencing notable growth, driven by its expanding applications across various industries. As of 2022, the market size for XNBR is valued at approximately USD 4 billion. Forecasts indicate that this figure will rise to USD 5.92 billion by 2032, reflecting a steady compound annual growth rate (CAGR) of 4% from 2022 to 2032 according to Future Market Insights. This growth is indicative of the increasing demand for high-performance rubber materials in automotive, aerospace, and industrial applications.

According to research report by Prophecy Market Insights, the global nitrile butadiene rubber (NBR) latex market size was valued at USD 4.21 Billion in 2024 and is expected to reach USD 6.79 Billion by 2034, growing at a CAGR of 5.4%.

Global demand for silicones is forecast to grow 3.2% yearly, reaching 3 million metric tons – valued at $29.9 billion – in 2028 according to Research and Markets. Gains will be supported by accelerating construction and manufacturing activity, as well as an improvement in motor vehicle production. The continuing uptake of silicones in lower income countries will also support demand increases. In value terms, gains will be boosted by greater use of better-performing silicones in high-income countries.

In-depth analysis in the brand new Smithers report – The Future of Connected Tires to 2029 – shows that sales worldwide will top 91,000 units for the first time in 2024, with a value of $23.23 million. Across the next five years value will increase rapidly at a compound annual growth rate (CAGR) of 50.5% driving value to $179.51 million in 2029, at constant prices; with volume sales climbing to 871,000 units.

Analysis of TBR Tire Market Size by Research Nester Reveals the Market to Grow with a CAGR of 7.6% During 2024-2036 and attain USD 43.1 billion by 2036. Research Nester assesses the growth and market size of the TBR tire market, which is anticipated due to the widespread adoption of electric vehicles credited to the implementation of strict regulations for vehicle emissions. As a result, governments across the world have imposed strict emission regulations on automakers.

The Association of Natural Rubber Producing Countries (ANRPC) reports that in the first seven months of 2024, global natural rubber (NR) production saw a slight increase of 0.7%, reaching 7.1 million tons. In contrast, global NR demand grew at a faster rate of 1.2%, totaling 9.0 million tons. Despite the tight supply situation that pushed up rubber prices, market sentiment remained subdued due to several factors: the Federal Reserve’s decision to keep interest rates unchanged, concerns about a potential recession in the U.S., and the weakening U.S. dollar, which has exerted downward pressure on both physical and futures market prices.

The global styrene butadiene rubber market will reach a valuation of USD 11.5 billion in 2024, attributed to factors such as automotive industry growth. The trend is set to create new opportunities for the market, leading to a projected CAGR of 5.5% between 2024 and 2034, and reaching a total valuation of approximately USD 19.7 billion by 2034 according to Future Market Insights.