The Business Research Company’s Styrene Butadiene Rubber (SBR) Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, May 4, 2021 /EINPresswire.com/ — Major companies in the styrene butadiene rubber industry are increasingly investing in artificial intelligence (AI) to enhance decisions making abilities and thus drive profits, as per TBRC’s styrene butadiene rubber market outlook. The companies in this industry gather huge amounts of raw data relating to the working of plant and other infrastructure through a large number of sensors placed across the production site. Using big data analytics, the companies can detect sensible patterns which can allow them to quickly react to unwanted changes or potential defects, thus saving costs. AI allows the companies to take better operational decisions. SBR market statistics show that companies such as Zhongce Rubber Group and Yokohama Rubber have been increasingly investing in AI technology to have a centralized method of data management and support data integration across multiple applications.
Styrene butadiene rubber market trends also include mergers and acquisitions. In January 2019, Saudi Aramco, a Saudi Arabia-based energy and chemical company acquired Arlanxeo from LANXESS AG for $1.67 billion. Arlanxeo is a Netherlands-based synthetic rubber company that specializes in manufacturing synthetic rubbers and elastomer plastics such as polybutadiene/butadiene rubber (BR) that are supplied to tire manufacturers and automotive parts globally. The acquisition is expected to help Saudi Aramco in improving the fuel efficiency related with tire performance.
The major players covered in TBRC’s global styrene butadiene rubber (SBR) market report are Asahi Kasei, Lanxess, Bridgestone, Michelin, China Petroleum & Chemical, Jsr, The Goodyear Tire & Rubber, Sinopec, Eastman, SIBUR, LG Chemicals, Kumho Petrochemical, LCY Chemicals, Versalis, Trinseo, Synthos, Zeon, Shenhua Chemical, Dynasol Elastomer, China national Petroleum Corporation (CNPC), Bridgestone Corporation, Reliance Industries Limited, Lion Elastomers, TSRC Corporation, Sumitomo Chemicals, Tianjin Lugang Petroleum Rubber Co.
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The global styrene butadiene rubber (SBR) market is expected to grow from $10.24 billion in 2020 to $12.9 billion in 2021 at a compound annual growth rate (CAGR) of 26%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global styrene-butadiene rubber market size is expected to reach $16.58 billion in 2025 at a CAGR of 6%.
The styrene butadiene rubber market covered in this report is segmented by type into emulsion type and solution type, by application into automotive tire, footwear, polymer modification, adhesives, others, and by distribution channel into direct/institutional sales, retail sales, other channel sales.
Styrene Butadiene Rubber (SBR) Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides Styrene Butadiene Rubber Market overview, forecast Styrene Butadiene Rubber Market size and growth for the whole market, Styrene Butadiene Rubber Market segments, and geographies, styrene butadiene rubber market trends, Styrene Butadiene Rubber Market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Source: EIN Presswire