Market Dynamics The global SBS market expected to register rapid revenue CAGR during the forecast period. The revenue growth for the market is primarily driven by its use for manufacturing of shoe soles in the footwear production, for increased durability in the automobile industry and as a toughening additive in polymers. Styrene Butadiene Styrene, also called SBS, is a firm latex thermoplastic elastomer used for objects and locations where additional toughness is required. It is a kind of copolymer with three parts in its backbone chain which provide the supplementary strength. It is the most frequently used synthetic rubber in production across different manufacturing units including automobiles, aerospace, chemical and construction due to its properties of abrasion-resistance and complemented strength as opposed to natural rubber. SBR is predominantly used in the manufacturing of tires for commercial and personal use lightweight vehicles on account of the great quality and longevity imparted which results in exceptional Tire performance standards. Its preference is attributed to its property of reduced rolling resistance which minimizes the amount of energy required by the engine to roll the wheels. Furthermore, it provides strong grip during braking preventing deformation of the vehicle due to the impact. It also has low abrasion owing to the hard, glassy styrene blocks providing toughness, making it a perfect material for tire applications. Moreover, cold SBR is utilized in lighter-weight tires and other mechanical items as it shows better abrasion resistance and good dynamic properties with less reversion resistance and higher filler loading in this form. The footwear manufacturers employ the compound in providing adhesive strength to the outsoles. Although outsoles of shoes are produced of vulcanized rubbers, they have weak adhesive qualities owing to which SBS is added to provide the cohesive strength. The increased usage of the product in footwear adhesion owing to its resistance in wear and tear and reduced need for repairs is a key factor expected to drive revenue growth for the market. The material is used as it results in a strong, flexible and waterproof material which are ideal properties for foot gears such as shoe soles, Boots, ski boots and athletic shoes. The inclusion of styrene gives it a high rubber Content and a cheap manufacturing cost with good qualities such as dimensional stability and prevention of outgassing or color migration which boosts its usage. The increased demand of the commodity due to rising demand for varieties of shoes is expected to drive the market revenue growth during the forecast period. Apart from this, the research and development on application of Styrene Butadiene Rubber (SBR) polymer in concrete for Cement on account of its adhesive properties, presents an opportunity for growth of the market. The benefits of application of styrene-butadiene rubber (SBR) latex in cement and concrete include improved microstructure of the mixture and added strength of cement mortar. The use of these polymers will revamp the workability, strength, and mechanical properties of aggregates and cement mixes to a greater extent. For instance, a study published in The Indian Journal of Science and Technology, in February, 2020, measured a lowered slump value, better compaction factor, superior compressive strength and improved tensile strength in the cement mixture after the addition of styrene butadiene rubber. The application of the product for increased robustness of concrete and cement structures will increase its demand in the upcoming days and present an opportunity of growth for the market. However, the damage caused to the SBS applied regions on exposure to heat can hamper revenue increase for the market throughout the specified period. It is utilized in the manufacturing of numerous articles to improve the end product's properties but it does not provide heat resistance which is essential for commodities such as types and footwear which are constantly under direct sunlight for extended periods of time. Furthermore, it is not resistant to sunlight and becomes soft and Plastic, leading to degeneration. The low temperature performance of the product leading to deterioration of goods is expected to restrain market revenue growth during the forecast period. Global SBS Market Revenue Growth Driven by Product Segment: Based on the product, Oil-extended SBS is expected to register significant growth of revenue during the given period attributable to its usage as a foundation material for shoes, construction, adhesives and thermoforming solutions attributable to its numerous characteristics such as functioning like rubber latex without the necessity of the vulcanization process which removes its potential toxicity and hazard-ness. This type of the compound can be readily recycled which lowers the processing costs making it cost effective and widely accessible for use. The oil extension process adds desirable properties to the product such as lowering the compression which increases its volumetric efficiency and improves performance. Furthermore, it gets excellent elastic strength which provides it the ability to be remolded and used again, thus increasing usage. It also gets superior resistance to chemicals and weather which makes it more durable and preferred in consumer and hard goods. It is also simpler to color and customize which increases its usage owing to increased demand for personalization. The functional adaptation of the product across applications is expected to boost the demand and drive the revenue growth of the market. Based on end-use, Asphalt modification is expected to register significant revenue growth during the forecast period attributable to its use in improving the performance of asphalt binders in the paving and Roofing sectors. The addition of SBS produces strength, hardness, and elasticity which ascertains the thickness of pliable pavement and helps in the stress-strain analysis. On mixing the product with asphalt binder at high temperatures, the Polystyrene blocks separate, which allows the modified asphalt binder to be treated as a liquid and make the process simpler. With the cooling of the hot asphalt, the polystyrene blocks recombine to form a strong, durable, and elastic network for better application. Furthermore, this technique is reversible which gives greater flexibility and a chance to correct any accidental errors. The use in asphalt modification for enhanced structuring of concrete and cement with additional features is expected to further boost demand and contribute to revenue growth over the specified period. Regional Analysis: The North American region is expected to register a significant revenue growth during the forecast period attributable to growing requirement for styrene butadiene styrene in Downstream Processing sectors such as fuel additives of tire adhesives in the automobile industry. The product finds applicability in car tires, vibration isolators, and gaskets on account of its great durability, abrasion resistance, weather protection, grease resistance, low temperature flexibility, protection against and oxidation protection which reduces fuel wastage and improves efficiency. The increased focus on increasing fuel efficiency in automobiles and providing upgraded safeguarding against damage is also a demand driver for yield growth for the market in the region. The Asia Pacific region is expected to account for steady revenue CAGR over the given period for the market owing to the growing number of footwear manufacturing companies in the region. According to a statistical data, China, India, Vietnam, and Indonesia are the top manufacturers of shoes in the world in 2020, which increases the demand of styrene butadiene styrene for shoe manufacturing in the region. The companies prefer using the product as it helps reduce production costs in comparison with existing alternatives as it can be recycled easily and does not require the additional process of vulcanization. The improved flexibility provided to shoes and the cost effectiveness of usage is expected to increase the demand for the commodity by shoe manufacturing companies in the region over the forecast period. Major Companies in the Market include: Asahi Kasei Corporation (Japan) CHIMEI Corporation (Taiwan) China National Petroleum Corporation (China) Dynasol Elastomeros, S.A.U (Spain) En Chuan Chemical Industries Co. Ltd. (Taiwan) Firestone Polymers LLC (U.S.) INEOS Styrolution Group GmbH (Germany) Kraton Corporation (U.S.) Lee Chang Yung Chemical Industry Corporation (Taiwan) LG Chem Ltd. (South Korea) RTP Company, Inc. (U.S.) TSRC Corporation (Taiwan) Strategies and Objectives of Major Companies: ·On 23 November, 2021, Asahi Kasei Corporation signed an agreement with Shell Eastern Petroleum (Pte) Ltd. for the supply of butadiene obtained from plastic waste and biomass which is sustainable in nature. The company intends to begin producing and distributing sustainable solution-polymerized styrene-butadiene rubber (S-SBR) using sustainable butadiene at its Singapore facility and acquire international certification for biomass and recycled feedstock. ·On 27 April, 2022, Dynasol Elastomeros, S.A.U announced the installation of a new production line for styrene-butadiene rubber (SSBR) at its plant in Santander, Spain, with aims of expansion. Moreover, the company will achieve greater flexibility to produce more SBS as required to meet the demand. The global SBS market has been segmented as follows: Product Type Outlook (Revenue, USD Billion; 2019-2030) Non-Oil-Extended SBS Oil-Extended SBS Application Outlook (Revenue, USD Billion; 2019-2030) Footwear Asphalt Modification Polymer Modification Adhesives Others Regional Outlook (Revenue, USD Billion; 2019-2030) North America U.S. Canada Mexico Europe Germany U.K. France Italy Spain BENELUX Rest of Europe Asia-Pacific China India Japan South Korea Rest of Asia Pacific Latin America Brazil Rest of Latin America Middle East and Africa Saudi Arabia UAE South Africa Rest of Middle East & Africa https://www.reportsanddata.com/report-detail/styrene-butadiene-styrene-sbs-market