Boom in the Automotive Industry: A Growth Opportunity for Top Solution Styrene Butadiene Rubber Manufacturers

Solution styrene butadiene rubber or simply called as S-SBR is synthetic rubber, made from two monomers and polymerization process. With demand of polymer modification techniques, S-SBR is used to customize the properties and for the specific performances. This property of customization makes the product makes it more attractive to numerous industries.

As per a report by Fortune Business Insights™, the market for solution styrene butadiene rubber reached USD 4.49 billion in 2022 and is set to reach USD 6.25 billion by 2030 with a CAGR of 4.2% during the forecast period of 2023-2030. The market also reached USD 4.67 billion in 2023.

Fortune Business Insights™ Profiles Top 10 Key Players/Companies in the Solution Styrene Butadiene Rubber Market

1. ARLANXEO

ARLANXEO is the largest producer for synthetic rubber and it is a subsidiary of Saudi Aramco. In 2018, Saudi Aramco became the sole owner of the company. ARLANXEO develops and produces high-performance rubbers for the automotive, tire, construction, and oil & gas industries. It also finds its presence with more than 12 production sites in 9 countries globally. The company has a strong presence internationally in Europe, Asia Pacific, North America, and South America.

In February 2023, the company announced the opening of a production line of new polybutadiene in Brazil, which will produce around 65 kilotons of polybutadiene per annum.

2.SIBUR

SIBUR is one of the global manufacturers and produces solution styrene butadiene rubber for various industries such as automotive, industrial, machinery, and construction. SIBUR manufactures a wide range of high-quality products, including Propane(C3Н8), N-Butane (C4Н10), Iso-Butane (i, C4Н10), Propane, Butane Mixture (LPG, Mix, SPBT), and natural gas liquids. The company exports in Austria, Turkey, and China, namely SIBUR International GmbH, SIBUR Istanbul Uluslararasi Tic. Ltd. Şti, and SIBUR International Trading Shanghai Co, Ltd.

In January 2023, SIBUR developed a technology for the production of butyllithium which is used in the manufacturing of synthetic rubbers and SBS polymers.

3. LG Chem 

LG Chem is a South Korean company which conducts its business in three main segments; petrochemicals, advanced materials, and life sciences. Among these, petrochemicals are the major business segment which LG Chem operates in as it manufactures raw materials for the products ethylene, propylene, PE, ABS, and synthetic rubber.

In February 2021, the company announced the run of its Yeosu nitrile butadiene rubber (NBR) plant and Osan Tech Centre. The company is able to produce approximately 120 gigawatt-hours (GWh) of renewable energy annually through this plant.

4. Goodyear Tire and Rubber Company

Goodyear Tire and Rubber Company is an U.S.-based company which manufactures tires and offers tires for automobiles light trucks, commercial trucks, motorcycles, aeroplanes, and heavy machinery. The company operates with 57 manufacturing facilities in 23 countries of the U.S., globally, with 16 facilities in the Americas, 18 in Europe and Middle East & Africa, and 9 in Asia Pacific.

In May 2022, the Goodyear Tire and Rubber Company opened its new manufacturing facility in Dudelange, Luxembourg. The new facility will provide opportunities to learn, test, and mature technology as production capacity continues to increase.

5. Sinopec

Sinopec also known as China Petrochemical Corporation is a chemical company offers products through 3 business segments: petrochemicals and specialities, agri-nutrients, and metals. The company has 164 manufacturing sites in 35 countries located in the U.S., Canada, EMEA, Asia Pacific, and Latin America.

In August 2021, BASF and SINOPEC expanded their Verbund site operated by BASF, YPC Co., Ltd., a half and half venture in China. This includes the capacity expansion of several downstream chemical plants, such as a new tert butyl acrylate plant to support the growing market in China.

6. JSR Corporation

JSR Corporation operates seven manufacturing and research facilities, out of which six facilities are spread across Japan, and one facility is established in Taiwan. It was established as a statutory company to for synthetic rubber production in Japan and now it offers products which have applications in various industries such as automotive (Tire & Non-Tire), footwear, and electrical & electronics. The company is the second largest producer of paraxylene and has the largest refinery off-gas cracker (ROGC) complex which has the capacity of 1.5 MMTPA for ethylene.

7. Dynasol Group

Dynasol Group is one of the top solution styrene butadiene rubber manufacturers and is a half and half venture between Group KUO and Repsol is providing elastomer solutions. It is present in several countries and has production centres in Spain and Mexico. The group has total of 55 years of experience as a global producer for polymers with a wide portfolio of SBS, SEBS, SSBR, BR, Hot SBR, ESBR, NBR, and Chemical products that are used in different applications.

8. Asahi Kasei Corporation

Asahi Kasei Corporation was founded with the motive to supply high-quality daily necessities at affordable prices. The company caters to material, homes, and healthcare by manufacturing fibre products, chemicals, and electronic-related materials made from chemistry technology. The company has manufacturing sites in Asia, The Americas, Europe, and other regions. The largest revenue is generated from the Asia Pacific from China, Japan, and India.

In May 2022, the company developed a system for the calculation of carbon footprint for the synthetic rubber and elastomers products; Asadene, Tufdene, Asaprene, Tufprene, Asaflex, Tuftec, and S.O.E.

9. Sumitomo Chemical Co. Ltd.

Sumitomo Chemical Co. Ltd. is a global producer of chemicals with its operations in North America, Europe, Asia Pacific, Latin America, Middle East, and Oceania. The company is developing high-value-added uses of polyolefin in Singapore and Japan. The company generated a revenue of USD 21.01 billion in 2022 with its businesses in petrochemicals & plastics, energy & functional materials, IT-related chemicals, health & crop sciences, pharmaceuticals, and others. R&D activities of the company are focused on meeting environmental regulations with its carbon cycle chemistry, including chemical recycling.

10. Trinseo

Trinseo S.A. is a company which is a materials solutions provider and manufacturer of plastics, latex binders, and styrene butadiene rubber. The company caters to automotive, consumer electronics, appliances, medical devices, packaging, footwear, carpet, paper and board, building and construction, and tires. It has presence with its 17 manufacturing facilities and 9 R&D centers with regional operating centers in North America, Europe, and Asia Pacific.

How a Thriving Automotive Sector Drives the Development of New Tire Technologies

A thriving automotive sector leads to the requirement of high-performance tires. Hence, robust manufacturing and automotive industries are often driven by the technological innovations. Development of new tire technologies which will help in fuel efficiency, safety, and performance. Presence of robust manufacturing and automotive industry results to higher demand for the solution styrene butadiene rubber.