US-based market consultancy firm, Transparency Market Research has released a new report on global market for Solution Styrene Butadiene Rubber (S-SBR) for 2012 to 2018.
Entitled, “Solution Styrene Butadiene Rubber (S-SBR) Market for Tire, Polymer Modification, Footwear & Others – Global Industry Analysis, Size, Share, Growth and Forecast, 2012 – 2018”, it covers analyses and estimates for global demand for S-SBR over a period of six years from 2012 to 2018, in terms of volume (kilo tonnes) and revenue (US$ million).
According to the report, S-SBR demand was pegged at 550.0 kilo tonnes in 2011 and is expected to reach 1,062.0 kilo tonsne in 2018, growing at a CAGR of 9.98% from 2012 to 2018.
The market was valued at US$1.5 billion in 2011 and is expected to grow at a CAGR of 11.27% from 2012 to 2018.
The increased S-SBR demand is driven by several factors, including the recently implemented tyre labelling regulations in the EU and other countries such as South Korea and China, which gives a booster to S-SBR being the component for manufacturing the high-performance tyres.
Moreover, the growing disposable income in developing countries such as India, China and Brazil has led to substantial growth in automobile demand, which in turn boosts tyre consumption.
But the upsurge in the market is likely to be tempered by the fluctuating raw material costs along with environmental concerns over the manufacture of S-SBR, not to mention that demand for S-SBR is currently above the supply. Nonetheless, the latter has resulted in major companies multiplying production with new S-SBR facilities or expanding the existing ones.
More on the report, it will also identify and provide analyses of key drivers and inhibitors affecting the market demand along with the opportunities present and available over the next few years; as well as provides detailed raw material analysis in terms of their properties, current prices, future price trend and their global market share.
Other areas covered in the report are analyses on applications for S-SBR, consumption, demand, value chain, and regional data on granular level,among others.