Demand from Tire Industry to Boost Styrene Butadiene Rubber Market
The global styrene butadiene rubber (SBR) market is expected to witness a substantial growth during the forecast period owing not only to the growing tire industry across the globe but also favorable regulatory compliance and the rising middle-class population globally. In last few years the significant growth of the automobile industry as well as expanding footwear industry have had a positive impact on this market and is anticipated to continue in the next few years. Additionally, the rising cost of natural rubber has produced a crossover opportunity for synthetic rubbers in the global market, which in turn will drive the market demand in the forthcoming years.
“Global Styrene Butadiene Rubber Market Research Report- Industry Analysis, Size, Share, Growth, Trends and Forecast”
provides superior performance in sport shoe soles, which is anticipated to increase its usage in the footwear industry. The rising implementation of favorable tire labeling regulation in various countries of Europe, Korea and Japan for manufacturing better quality eco-friendly 'Green Tires’ is likely to augment the market demand under the study period. European Union regulations have made it compulsory for all manufacturers to brand their tire for rolling resistance and wet grip. However, rising environmental concerns and volatility in the prices of raw materials are major restraints, which may negatively affect the growth of this market in the coming years.
The global market has been segmented based on application into tire, footwear, construction, polymer modification, adhesives, and others. The tire is a leading application segment and is expected to witness a double-digit growth in the study period on account of its increasing global demand for high performance, high traction during brake & better fuel efficiency along with the stringent regulations regarding usage of enhanced tire in the automobiles industry across the globe.
Asia pacific is a major market for SBR and is estimated to grow at a substantial rate over the forecast period owing to the growing automobile industry and rising tire labeling regulations in the regions. Europe is a growing market and is anticipated to grow at a considerable rate in the study period on account of favorable EU labeling regulations coupled with rising usage of SBR in the tire production in the region.
Major industry players profiled in the report are Asahi Kasei, Bridgestone Corporation, China National Petroleum Corporation (Cnpc), Dow Chemicals, L.G Chemicals, Lanxess, Sinopec, Sumitomo Chemicals, Synthos S.A., Tianjin Lugang Petroleum And Rubber, and Versalis (Polimeri Europa). The global market is fragmented in nature and Major manufacturers have been concentrating on integration in order to counteract the effect of volatile raw material prices.
In Oct 2016, Trinseo, the US-based SBR manufacturer, has expanded their production capacity of styrene-butadiene rubber in Germany to meet the growing customer demand for SBR in performance tires, The expansion was also aimed at increasing safety, energy efficiency and durability in performance tires.
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