Styrene Butadiene Rubber Market Size, Growth And Segments To 2020 By Hexa Research
Styrene butadiene rubber (SBR) market is expected to reach over USD 23 billion by 2020 due to increasing demand in tire manufacturing industry. The global SBR market was over 5,000 kilo tons in 2013 and is expected to grow at a CAGR of about 6% from 2014 to 2020. SBR is available in two forms including solution (S-SBR) and emulsion (E-SBR), depending upon the elements initiating polymerization process. S-SBR demand is continuously increasing as it adds better physical properties to tire making it the largest application of SBR.
Traditionally E-SBR was most used rubber by tire manufacturers due to high physical strength and easier manufacturing process. In case of E-SBR tire manufacturers can switch between different E-SBR grades without making any extra changes in the manufacturing process. However in the past few years different countries have started to impose labeling regulations on tires which includes wet grip, fuel consumption and rolling resistance.
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SBR market is mainly driven by wide usage in different application segments including tires, adhesives, footwear and polymer modification. Other segments including construction, carpet and insulation are also covered in report. Tires being the single largest SBR application accounted for over 70% of total consumption in 2013. With increasing safety concern among people there is high quality tire demand among automotive manufacturers.
Global tire requirement is expected to grow from 3 billion units in 2012 to about 4 billion units by 2020, due to growth of automotive manufacturing industries in countries such as India, Brazil and China. Post EU labeling regulation implementation the region experienced enhanced demand for high quality tires thus augmenting SBR demand. Countries such as Germany, France and Italy are expected to experience increasing demand for such tires due to new regulation introduced.
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About Hexa Research:
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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