The styrene butadiene rubber (SBR) based adhesive market has seen significant growth in recent years. It is expected to rise from $4.8 billion in 2023 to $5.1 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.3%. This growth can be attributed to the increasing demand for flexible packaging, the expansion of consumer goods packaging, non-tire rubber products, the transition from solvent-based to water-based formulations, and the growing fashion and footwear industry.
The styrene butadiene rubber (SBR) based adhesive market is expected to reach $6.52 billion by 2028, growing at a CAGR of 6.4%. This growth is driven by increased vehicle production, the expansion of electric vehicles, growth in e-commerce, stricter environmental regulations, and the demand for eco-friendly adhesives. Trends include surface engineering, automated application processes, 3D printing, self-healing properties, and hybrid adhesives.
Major Driver In The Styrene Butadiene Rubber (SBR) Based Adhesive Market
The expansion of the construction industry is expected to drive the styrene butadiene rubber (SBR)-based adhesive market. This industry's growth results from urbanization, government investments, and trends towards sustainable building. SBR-based adhesives enhance durability and flexibility, improving resistance to environmental stress. For instance, in November 2023, the Office for National Statistics reported a £18,161 million ($22.70 billion) increase in construction work, reflecting growth in both private and public sectors. Thus, the expanding construction industry supports the SBR-based adhesive market.
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Styrene Butadiene Rubber (SBR) Based Adhesive Market Competitive Landscape
ExxonMobil Chemical Company, BASF SE, 3M Company, Henkel AG & Co. KGaA, Sumitomo Chemical Co. Ltd., Asahi Kasei Corporation, Illinois Tool Works Inc., Sika AG, Avery Dennison Corporation, Versalis S.p.A., Trinseo LLC, Zeon Corporation, Kraton Corporation, Dynasol Group, Euclid Chemical Company, Lion Elastomers LLC, Anglo Adhesives & Services Limited, U.S. Adhesives Inc., Mapei S.p.A., Dunlop Adhesives (Thailand) Limited
Key Styrene Butadiene Rubber (SBR) Based Adhesive Market Trend
Companies in the styrene butadiene rubber (SBR)-based adhesive market are focused on enhancing the performance and sustainability of their adhesives by developing high-performance materials like selective hydrogenation. This chemical process improves the stability and performance of adhesives while reducing environmental impact. In June 2024, Asahi Kasei launched functionalized hydrogenated styrene butadiene rubber (HSBR) and thermoplastic elastomer (TPE) solutions, offering improved heat, aging, and chemical resistance, and reducing reliance on harmful antioxidants, making them ideal for durable applications like tires and belts.
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Global Styrene Butadiene Rubber (SBR) Based Adhesive Market Segmentation
The styrene butadiene rubber (SBR) based adhesive market covered in this report is segmented –
1) By Type: Solution Types, Emulsion Types
2) By Application: Tapes, Flooring Adhesives, Other Applications
3) By End-Use Industry: Automotive, Construction, Industrial Manufacturing, Packaging, Other End Use Industries
By Geography:The regions covered in the styrene butadiene rubber (SBR) based adhesive marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the styrene butadiene rubber (SBR) based adhesive market in 2023. North America is expected to be the fastest-growing region in the forecast period.
The Styrene Butadiene Rubber (SBR) Based Adhesive Global Market Report 2024 furnishes information about the global styrene butadiene rubber (SBR) based adhesive market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
