Global styrene butadiene rubber market forecast at $15.6 billion by 2030

Chicago, IL – Report 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.

By volume, Report Ocean estimated the Global Styrene Butadiene Rubber (SBR) Market size at 9.35 million metric tons in 2023. During the forecast period between 2024 and 2030, Report Ocean expects the Global Styrene Butadiene Rubber (SBR) Market size by volume is projected to grow at a CAGR of 1.28% reaching the volume of 10.09 million metric tons by 2030. Presently, SBR stands as the predominant elastomer in global synthetic rubber production. The increasing need for SBR in the production of tires for Heavy Commercial Vehicles (HCVs), Light Commercial Vehicles (LCVs), passenger cars, belting conveyors, and molded goods is expected to drive the demand for SBR over the forecast period.

Opportunity – Increasing demand for SBR from thriving automotive industry
The automotive sector commands the largest share of SBR market consumption, primarily driven by its extensive use in tire manufacturing. The surge in natural rubber prices has led tire manufacturers to adopt SBR widely, given its robust durability and rolling resistance. Anticipated to persist during the forecast period, the growing demand for SBR extends beyond tires to various applications, including gaskets, vibration isolators, tuned dampers, belts, bump stops, and spring aids. With a rising global automobile count and increasing SBR applications in both tire and non-tire contexts, the global SBR market is poised for continued growth.