China’s Styrene-Butadiene Rubber industry continues to be import dependent in medium term

The imports of Styrene-Butadiene Rubber (SBR) production in China is expected to grow at a compound annual growth rate (CAGR) of 11.8% from 0.454 million tonnes per annum (mtpa) in 2017 to 0.793 mtpa in 2022, says GlobalData, a leading data and analytics company.

The company’s report: ‘Styrene-Butadiene-Rubber (SBR) Industry Outlook in China to 2022 – Market Size, Company Share, Price Trends, Capacity Forecasts of All Active and Planned Plants’ reveals that SBR plant capacity in China remains unchanged at 1.810 mtpa during the review period.

The largest SBR plants in China in 2017 were ‘Sinopec Qilu Company Zibo Styrene-Butadiene Rubber (SBR) Plant’, ‘PetroChina Fushun Petrochemical Company Fushun Styrene-Butadiene Rubber (SBR) Plant’, ‘Shen Hua Chemical Industrial Company Nantong Styrene-Butadiene Rubber (SBR) Plant’ and ‘Jilin Petrochemical Company Jilin Styrene-Butadiene Rubber (SBR) Plant’.

John Paul, Oil and Gas Analyst at GlobalData, says: “With no new capacity additions and increasing domestic demand of SBR from the automotive industry, China is expected to rely mostly on imports to meet its growing demand in the mid-term.”

The major companies in the country are ‘China National Petroleum Corporation’, ‘China Petrochemical Corp’, ‘TSRC Corp’, ‘Fujian Meizhouwan Chlor-Alkali Chemical Industry Co., Ltd’ and ‘Hangzhou Zhechen Rubber Co., Ltd’. In 2017, together these companies accounted for 81.6% of the SBR capacity in China.

The main sectors that consume SBR in China are Tyre, Footwear, Construction and Mechanical Goods and Automotive Goods. In 2017, these sectors accounted for almost 97.3% of the SBR demand in China.

The average price of SBR is expected to grow at a CAGR of 3.3% from US$1744.6/tonne in 2017 to US$2047.5/tonne in 2022.

During 2008 to 2017, China was a net importer of SBR. According to GlobalData forecast, imports as percentage of demand is expected to increase from 28.0% in 2017 to 38.7% in 2022.

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