The styrene butadiene rubber market effectively consists of sales of styrene butadiene rubber and related services. The Styrene butadiene rubber is synthetic rubber consequential from the co-polymers styrene and butadiene. Such materials have good abrasion confrontation and good aging stability when endangered by additives.
According to the report analysis, ‘Styrene Butadiene Rubber Global Market Report 2020’ states that in the styrene butadiene rubber global market there are several entities which presently functioning more significantly for leading the highest market growth and registering the handsome value of market share around the globe throughout the upcoming duration while delivering the better consumer satisfaction, decreasing the linked prices, increasing the applications of such, enhancing the specifications of the production technologies, implementing the profitable strategies, analyzing and studying the strategies and policies of the competitors, and employing the young work force includes Asahi Kasei, Lanxess, Bridgestone, Michelin, China Petroleum & Chemical, Jsr, The Goodyear Tire & Rubber, Sinopec, Eastman, SIBUR and several others.
The worldwide styrene butadiene rubber market was worth USD 13.1 billion in 2019. It is projected to increase at a compound annual growth rate (CAGR) of 11% and reach USD 19.41 billion by 2023. The styrene butadiene rubber market has been geographically divided into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. During 2019, Asia Pacific register for nearly 68% of the market.
The augmented usage of Styrene butadiene rubber in tire manufacturing underwritten to the growth of the SBR market. Styrene butadiene rubber is one of the foremost elements in tire producing. SBR is an amalgamation of styrene and butadiene monomers, together they retain natural rubber such as characteristics. Along with that, they have exclusive characteristics such as abrasion resistance, flawless impact strength, good resilience, great tensile strength, that are sanctioning it appropriate for high-end tire manufacturing. Increasing sales of automobiles in present years has led to augmented usage of SBR by the automobile industry. During 2018, annual sales of new cars and light trucks stretched 17.3 million, across the US with an augment of 0.6% from the previous year. This has led to an augmented requirement for SBR from the end-use industry.
The foremost companies in the styrene butadiene rubber industry are progressively investing in artificial intelligence (AI) to improve decisions making abilities and thus drive profits. The corporates in this industry gather enormous amounts of raw data relating to the functioning of plant and several other infrastructure through a great number of sensors placed around the production site. Utilizing the big data analytics the corporates can detect sensible patterns which can enable them to speedily react to unwanted vagaries or potential defects, thus saving costs. AI enables the corporates to take better functional decisions. Corporates such as Zhongce Rubber Group and Yokohama Rubber have been progressively investing in AI technology to have a centralized approach of data management and support data integration around multiple applications. Therefore, in the near years, it is predicted that the market of styrene butadiene rubber will increase around the globe more effectively over the upcoming years.
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Ankur Gupta, Head Marketing & Communications