Styrene Butadiene Rubber (SBR) Market is Expected to Reach USD 18.9 Billion in 2018: Transparency Market Research
Albany, New York (PRWEB) February 04, 2013
According to a new market report published by Transparency Market Research "Styrene Butadiene Rubber (SBR) Market - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 - 2018," the global SBR demand was 4,600 kilo tons in 2011 and is expected to reach 6,754.8 kilo tons in 2018, growing at a CAGR of 5.7% from 2012 to 2018.
Browse the full report at http://www.transparencymarketresearch.com/styrene-butadiene-rubber.html
In terms of revenue, the market was valued at USD 11.3 billion in 2011 and is expected to reach USD 18.9 billion in 2018, growing at a CAGR of 7.1% from 2012 to 2018.
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The growth in the SBR market is primarily driven by the increasing demand from the tire manufacturing industry, which is the largest consumer of SBR. Increased automobile sales in major countries have played a key role in increasing the demand for tires. In addition, the tire labeling regulations in countries like Japan, Korea and the European Union have created huge demand for solution SBR (S-SBR). However, volatility in raw material prices, especially butadiene prices, continues to be a major inhibitor for the market.
The limited supplies of natural rubber coupled with the geographical constraints on its production have created a huge crossover opportunity for SBR. The market in the next five years would face a drastic shift towards production of S-SBR from E-SBR. The demand for S-SBR is expected to outpace the supply in the next three years. Large corporations have already begun work on installing new S-SBR plants that would help them gain market share in view of the increasing demand.
Styrene butadiene rubber is the most commonly consumed synthetic rubber and accounts for over 45% of the global consumption. Tire manufacturing is the single largest application segment for SBR and accounted for over 72% of the total SBR consumption in 2011. Footwear and construction are other applications of SBR that are expected to gain a substantial market share over the next five years. The demand for SBR in footwear and construction is expected to grow at CAGR of 6.4% and 6.0% respectively, from 2012 to 2018.
Asia Pacific is the largest market for SBR followed by Europe and North America. Asia Pacific accounted for 45.2% of the global demand in 2011 and is expected to grow at a CAGR of 6.6% from 2012 to 2018. Along with being the largest market, Asia Pacific is also the fastest growing market for SBR. The growing automobile industry in countries like India and China is expected to propel the demand for tires over the next five years. Europe however would grow at a comparatively moderate pace owing to the economic instability of the region.
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Key participants operating in the SBR market include Lanxess (Germany), Sinopec (China), CNPC (China), Versalis (Italy), Dow Chemical Company (U.S.) and Synthos S.A (Poland) among others. This study provides a detailed competitive landscape with company share analysis and detailed profiles of companies mentioned above.
The report analyzes the global demand for styrene butadiene rubber in various applications in terms of both volumes (kilo tons) and revenues (USD million) from 2010 to 2018. In addition, the study forecasts the demand for SBR in North America, Europe, Asia Pacific and RoW. The report includes in depth analysis for each segment that would help in making effective decisions.