San Francisco, CA (PRWEB) February 28, 2014
The global market for SBR is expected to reach USD 23,144.3 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand for SBR in tire manufacturing is expected to support the growth of this market over forecast period. The automobile industry has witnessed significant growth over the past couple of years, resulting in increased demand for tires which in turn has boosted the demand for synthetic rubbers such as SBR. Tire was the single largest application segment for SBR market accounting for 73.5% of global consumption in 2013. Footwear was a small application segment in 2013, however is expected to witness significant growth over the forecast period on account of superior performance offered by SBR in sport shoe soles. In addition, the increasing price of natural rubber has created a crossover opportunity for synthetic rubbers such as SBR.
The implementation of tire labeling regulation in countries of EU, Japan and Korea, which is a prerequisite for manufacturing of high grade ‘Green Tires’, is expected to augment S-SBR demand. EU regulations have made it mandatory for all manufacturers to label their tire for wet grip and rolling resistance. In order to have high grade of tire, S-SBR along with Nd-PBR filler is a key requirement. Certain SBR manufacturers such as Lanxess have converted their E-SBR plants to S-SBR in order to meet the growing demand from the tire manufacturers.
The report “SBR Market Analysis And Segment Forecasts To 2020” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/styrene-butaidene-rubber-industry.
Further key findings from the study suggest:
Direct link for sample request of this report - http://www.grandviewresearch.com/request/16
For the purpose of this study, Grand View Research has segmented the global SBR market on the basis of application and region:
Browse all Bulk Chemicals Market Research Reports at http://www.grandviewresearch.com/industry/bulk-chemicals.
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
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