Styrene Butadiene Rubber (SBR) Market Size, Share, Growth, Trends and Industry Analysis Report, 2018
by Susan Hill Business ConsultantThe
global styrene butadiene rubber (SBR) market is expected
to reach USD 9.9 billion by 2025, according to a new report by Grand View
Research, Inc. Significant increase in the demand for OEM tires from the
automobile industry is likely to augment the utilization of SBR over the
forecast period. In addition, long vehicle life coupled with a shift in
consumer preference toward high-performance tires is likely to have a positive
impact on the growth over the next nine years.
In the
recent times, the demand supply gap for natural rubber (NR) has widened, making
the prices of the commodity a matter of concern. In 2016, the growth in supply
of natural rubber was 1.1% while the demand grew at a rate of about 6%. This
deficit has been exerting a pressure on the supplies and leading to a high
volatility in the prices, which in turn has been a major driver for the growth
of the SBR industry.
Over the
last five years, the average consumption of synthetic rubber has been higher
than NR by about 3,500 kilo tons per year. SBR is the highest consumed
synthetic rubber, accounting for over 45% of consumption. Therefore, the
restraints faced by the NR industry act as the major drivers for the synthetic
rubber market.
Further key
findings from the report suggest:
- The tire
application is expected to witness a CAGR of 1.7% from 2016 to 2025 owing
to the rising demand from the automotive industry in emerging economies
including China, India, and Brazil
- The global
S-SBR market is expected to witness a CAGR of 8.8% from 2016 to 2025 as
manufacturers are increasingly focusing on converting E-SBR plants into
S-SBR manufacturing facilities
- The SBR market
is driven by the rising demand from the Latin America and the Middle East
& Africa regions owing to the increasing production of tires and the
presence of numerous petrochemical companies across the region
- In October
2015, Kumho Petrochemical Company, under a joint venture with Sunny
Plastics Co., Ltd., set up its third ABS plant in China to establish its
foothold in the Chinese market
- In June 2016,
Versalis and LOTTE Chemical entered into a partnership to expand their
presence in the Asian synthetic rubber industry
Access full
research report on global styrene butadiene rubber market:
www.grandviewresearch.com/industry-analysis/styrene-butaidene-rubber-industry
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Created on Oct 4th 2019 07:02. Viewed 295 times.