It’s good news for the SBR market. Increasing tyre consumption means the market is projected to grow at a CAGR of 4.5 % to reach $ 7.9 billion by 2018 from $ 6.36 billion in 2013, says MicroMarket Monitor’s new report.
The SBR market is 2led by Japan Synthetic Rubber Corporation and Shen-Hua Chemical Industrial Company Limited.
The Asia-Pacific SBR market, along with its end products, has witnessed a linear growth in the past few years; this trend is estimated to rise in the coming years. SBR refers to families of synthetic rubbers derived from styrene and butadiene. There is a high demand for styrene butadiene rubber owing to its abrasion resistance, and aging stability when protected by additives. The upcoming safety regulations and innovative techniques for its use will be the key influencing factors for the global SBR market, given the rising demand for its applications.
“The SBR market is experiencing prolific growth, and this trend is expected to continue in the near future, mainly owing to the growing market in Asia-Pacific, Europe, and North America, and the intense efforts at country level to promote environment-friendly and recyclable products. Considerable investments are made by various market players to serve the end-user applications industry. The Asia-Pacific region is the main SBR market, accounting for about 48 % share of the total market in 2012. The region is expected to show further growth in the future, mainly due to the high growth potential of the infrastructure in China and India,” said MicroMarket Monitor in the new report.
Almost 70 % of the total demand for styrene butadiene rubber was for the tyre application in 2012, with the footwear and construction industry also being the fastest-growing end-use segments, primarily due to their strong presence in all the regions.
“The SBR market is driven by tyre labelling regulations, the rapid growth in the automobile industry is increasing the demand for SBR, which contributes to 5 % of the total raw materials used in manufacturing tyres. It is mainly used for producing tyre threads which contain around 74 % of SBR,” added MicroMarket Monitor.