Global Styrene Butadiene Rubber (SBR)Market by Application (Tires, Footwear, Construction, Polymer Modification, Adhesives, Others), by Geography - Analysis and Forecast to 2019
The increasing demand for tire from automotive industry, rising footwear manufacturing, and favorable regulations are contributing to the growth of global SBR consumption. Rising number of plant expansion, new product launch, and R&D investments are among the key approaches adopted by leading market players in order to strengthen its foothold in the Global SBR market.
The styrene and butadiene are polymerized either from solutions or as an emulsion in order to form SBR. Its exhibits properties such as excellent crack and abrasion resistance, better aging, and high tensile strength. SBR is widely used in automobile tire industry, contributes around 75% of the global SBR consumption. Among footwear industry, shoe soles, polishes, packaging are the major usage. SBR is also used in construction activities such as flame retardants, sealants, and concrete admixtures. Due to excellent cohesive strength, flexibility, high elasticity, and high damping capacity SBR is used in adhesive industry. SBR is preferred due to the various favourable regulations across regions, such as labelled wet grip, fuel efficient, external rolling noise tire are mandatory in Europe. U.S. and South Korea is also adhering the same regulation. Germany is practicing regulation for the use of winter tires.
The Global SBR market is expected to reach USD 16,113 million by 2019 from USD 13,685 million in 2014, at a CAGR of 3.3% from 2014 to 2019. Tire application segment has the largest market share followed by footwear application segment, estimated at USD 3,741 million in 2014, expected to reach USD 4,610 million by 2019, growing at a CAGR of 4.3% during forecast period. Asia-Pacific dominated the global SBR market, expected to reach USD 8,306 million by 2019, growing at a CAGR of 4.5% during forecast period. The rising demand from automotive, footwear, construction, and adhesives and increasing initiatives of the companies to manufacture SBR is contributing to the growth of SBR.
Companies, such as and The Dow Chemical Company (U.S.), Lanxess AG (Germany), Synthos S.A. (Poland), Goodyear Tire & Rubber Company (U.S.), Ashland Inc. (U.S.), Nova Chemical (Canada), Trinseo SA (U.S.), Versalis (Italy), Formosa Chemical & Fiber Corporation (Taiwan), Kumho Petrochemical Company Ltd. (South Korea), others are operating in this market. The report also presents a competitive landscape covering different strategies and developments such as plant expansions, R&D investment, and new product launch undertaken by the leading market players in the past few years.
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