Segments - by Type (Styrene Content <60% and Styrene Content >60%), by Application (Shoes, Tires, Electrically Insulating Materials, Others), by End-user (Automotive, Footwear, Construction, Electronics & Electrical, Packaging)
The global solution polymerized styrene-butadiene rubber (SSBR) Market size was USD 3.5 Billion in 2023 and is likely to reach USD 4.37 Billion by 2032, expanding at a CAGR of 3.2% during 2024–2032. The market growth is attributed to the increasing demand for the product, particularly in the automotive industry.
SSBR is a synthetic rubber manufactured by performing solution polymerization using a lithium catalyst. It is used to produce eco-friendly and highly functional tires, due to its exceptional physical and viscoelastic properties.
SSBR tires offer first-rate properties such as high fuel efficiency, enhanced braking performance, wear resistance, and excellent mechanical properties. SSBR is usually stored in places protected from direct sunlight, atmospheric precipitation, heat, and ultraviolet light to avoid the degradation of product quality.
Manufacturers are investing heavily in developing advanced SSBR products and materials, addressing the various industrial needs of today. Technological innovations are poised to open new avenues for SSBR application, further propelling the demand for the material.
SSBR is being heavily sought in construction and footwear, due to its excellent elasticity and durability. The global focus on environmental sustainability is pushing the industry's adoption of SSBR as well.
Surging demand for high-performance tires in the automotive industry is a primary driver of the market. Automotive companies are conscious about fuel efficiency and safety, with a focus on tires with enhanced performance attributes. SSBR tires offer improved performance in terms of low rolling resistance, high wet grip, long durability, and sustainability, all of which are highly coveted by manufacturers and consumers alike.
Growth in the rubber and consumer goods industries is a major market driver. SSBR is beingincreasingly adopted in rubber-based goods such as footwear, belts, hoses, and seals. The versatile nature of the material is a huge asset, supporting much of the market demand. Products made with SSBR are high-quality, beating much of the competition on durability, as needed in most goods.
Technological advancements have led to a significant expansion of the market. Advancements in polymerization technology have enhanced the properties of SSBR, especially improving its efficiency.
There have been multiple innovations in the production process of SSBR, such as improvements in catalyst technology and processing techniques, helping create high-quality products. The cost factor plays an important role as well, with the material being more cost-effective in comparison with other synthetic rubbers.
Volatility in raw material prices causes a significant hindrance to the market. Raw material prices, especially those of butadiene and crude oil, have a major impact on production costs. The unstable nature of the market commodities affects the profitability of SSBR manufacturers, and is expected to potentially lead to higher price points for end consumers.
Growing competition from alternative materials is a major hindrance to the market. SSBR is prone to intense competition from alternative materials such as Itacone-based elastomersand other epoxy-based rubbers.
Industrial applications see a widespread utilization of materials such as natural rubber and synthetic rubber alternatives, despite the benefits offered by SSBR. Alternative materials offer cost advantages, sustainability, and performance benefits in some cases, posing a barrier to the widespread adoption of SSBR.
Global focus on promoting environment-sensitive regulations is restraining the market. Production capabilities are limited as traditional manufacturing methods involve the use of petroleum and other petrochemical derivatives, causing significant greenhouse gas emissions and environmental pollution. The usage of synthetic rubber processing oils and other chemical additives further contributes to environmental and health concerns.
Cutting-edge technological changes are creating lucrative options in the market. Innovations in polymerization and processing techniques are enhancing the properties and applications of SSBR.
The development of bio-based SSBR to address sustainability concerns is a critical consideration for manufacturers. Eco-friendly alternatives with comparable performance characteristics are gaining interest in open markets and attracting environmentally conscious consumers.
Rapid expansion of the Electric Vehicles (EVs)industry is set to expand the market opportunities. There has been an increasing demand for EVs in recent years, leading to a surging demand for tires that offer low rolling resistance, extended durability, and improved wet grip. These attributes come in handy to optimize the performance and efficiency of EVs. SSBR is well suited to fill the demand created by increasing EVs in the market.
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Solution Polymerized Styrene-Butadiene Rubber (SSBR) Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2023 |
Historic Data |
2017 -2022 |
Forecast Period |
2024–2032 |
Segmentation |
Type (Styrene Content <60% and Styrene Content >60%), Application (Shoes, Tires, Electrically Insulating Materials, and Others), and End-user (Automotive, Footwear, Construction, Electronics & Electrical, and Packaging) |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
Key Players Covered in the Report |
Asahi Kasei Corporation; Goodyear Rubber Company of Southern California; JSR Corporation; KUMHO POLYCHEM Co. Ltd.; Lanxess; LG Chem; Lion Elastomers; Michelin; SIBUR International GmbH; Trinseo; and others. |
Based on type, the solution polymerized styrene-butadiene rubber (SSBR) market is divided into styrene content <60% and styrene content >60%. The styrene content >60% segment held a major market share in 2023 due to the material application in high-performance tires. High-styrene SSBR offers excellent wet traction and low rolling resistance, which are crucial for meeting regulatory requirements and enhancing vehicle performance.
Manufacturers are turning to SSBR with styrene content >60% to meet the demand created by premium vehicles and high-performance tires. High-styrene SSBR helps manufacturers meet fuel efficiency standards and consumer demand for eco-friendly solutions.
The styrene <60% segment is expected to expand at a significant growth rate in the coming years, owing to their increasing adoption in standard passenger vehicle tires and various other industrial applications.
The segment is used in areas where performance is not as critical as the need for wear resistance and elasticity. The growing demand for affordable tires in emerging markets, where cost considerations take priority, is furthering the demand, boosting the segment.
On the basis of application, the solution polymerized styrene-butadiene rubber (SSBR) market is segregated into shoes, tires, electrically insulating materials, and others.
The tires segment held a large market share in 2023 due to its dominant application, particularly in passenger vehicle tires and passenger vehicle tires.
SSBR plays a crucial role in improving tire performance by enhancing characteristics such as fuel efficiency, rolling resistance, and wet traction. Emerging economies such as India and China contribute significantly to the demand for high-quality tires, driving the need for high-performance rubber materials, including SSBR. The industry and consumer demand for eco-friendly alternatives to traditional industry materials is further cementing the dominance, driving the segment.
The footwear segment is anticipated to expand at a substantial CAGR during the forecast period, owing to the increasing demand for comfortable and durable footwear. SSBR is being increasingly utilized in shoe production, especially for soles and other rubber components.
The footwear industry is undergoing rapid growth, leading to a surge in the demand for durable, flexible, and eco-friendly materials. The rapid growth of the sports and fitness industry has led to an increasing demand for running shoes which involve SSBR as a critical ingredient.
In terms of end-user, the global solution polymerized styrene-butadiene rubber (SSBR) market is segmented into the automotive, footwear, construction, electronics & electrical, and packaging.
The automotive segment led the market in terms of revenue in 2023, driven primarily by increasing tire production. SSBR is essential for high-performance tires, used in passenger cars, commercial vehicles, and especially in high-performance and premium vehicle tires. Increasing global demand for vehicles, particularly in emerging markets, has seen a corresponding rise in SSBR demand.
Furthermore, SSBR is integral to meeting the evolving regulatory landscape and environmental sustainability demands, making it a key component of tire and automobile production in the automotive industry.
The footwear segment is projected to register a robust growth rate during the assessment years, owing to the demand for durable and flexible materials for the manufacturing of soles and other rubber components.
The footwear industry relies on cost-effective rubber materials, with SSBR providing abrasion-resistant and improved performance as compared tomajority of alternatives. SSBR-made footwear components are temperature flexible at low temperatures, good heat dissipation, flex resistance, and decreased rolling resistance, making it an attractive option for many users.
In terms of region, the global solution polymerized styrene-butadiene rubber (SSBR) Market is classified as Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa.
Asia Pacific holds the largest share of the market due to rapid industrialization, urbanization, and the increasing production of vehicles in countries such as China and India. The region boasts a robust automotive industry, leading to a high demand for high-quality tires. SSBR is a key component in tire production due to its ability to enhance fuel efficiency, wet grip, and wear resistance.
Rapid industrialization and urbanization further contribute to an increase in the demand for various rubber products. The region dominates the market due to its relatively lower production costs as compared to regions such as Europe or North America, making it an attractive avenue for production interests.
The Europe market is projected to grow at a significant pace in the coming years, owing to the emergence of Europe as one of the key regions in implementing stringent environmental regulations, particularly regarding fuel efficiency and carbon emissions.
Manufacturers are pushing for SSBR adoption to innovate and produce tires that are durable and fuel-efficient. Europe-based automotive manufacturers, especially those based in Germany, France, and the UK, are at the forefront of adopting new technologies in tire design and vehicle performance.
The Solution Polymerized Styrene-Butadiene Rubber (SSBR) Markethas been segmented on the basis of
The solution polymerized styrene-butadiene rubber (SSBR) market is poised for steady growth, driven by technological innovations and strategic initiatives by key industry players. Companies are focusing on enhancing product offerings, expanding manufacturing capabilities, and forming strategic partnerships to strengthen their market position.
The market is primarily responding to the demands of the automotive industry, with the industry remaining the largest consumer of SSBR. There is a growing emphasis on developing eco-friendly and sustainable SSBR products to align with the global push for eco-friendly manufacturing and production processes.
Companies are investing in research and development to enhance the performance and efficiency of SSBR, focusing on refining the mechanical properties of the material while remaining environmentally conscious.
In January 2025, Taiwan-based synthetic rubber supplier, TSRC, announced that it was considering the construction of a solution styrene butadiene rubber (SSBR) plant in Nantong,
China. In a joint venture with Arlanxeo, the plant is said to be focused on production with a designed annual capacity of 40,000 tons. The new plant is part of a relocation project to support environmental sustainability along the Yangtze River.
In December 2024, Eneos Materials Corporation (ENEOS) acquired full ownership of the Eneos MOL Synthetic Rubber (EMSR) joint venture. This Japan-based energy and petrochemicals major has announced that it bought out Hungary-based oil and gas company MOL’s 49% stake in the joint venture to respond to changes in the business environment and further expand its synthetic rubber business in Europe.
MOL is expected to continue to be a key feedstock, utility, and service provider for the company with the ESMR plant continuing its operations in Tiszaújváros, Hungary.
In August 2024, Kumho Petrochemical Group announced the development of new synthetic products and the implementation of sustainable strategies. Synthetic rubber has become the company’s new flagship product with a recent surge in the demand from the automobile and tire industries, especially in areas involving electric vehicles