Recovering Momentum in the Automobile and Tire Industry to Drive Demand for Synthetic Rubber, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) May 07, 2014 -- Follow us on LinkedIn - Synthetic rubbers are complex chemical compounds obtained from polymerized petroleum-derived monomers. Automotive industry, predominantly tire manufacturing, is the most important end-user of synthetic rubber. Over the last couple of years, adverse market conditions in developed economies, overcapacity and low demand conditions combined with sluggish global economic growth affected demand for synthetic rubber. In particular, declining sales of passenger cars and two wheelers significantly impacted demand. The market however bounced back strongly supported by improving tire sales as a result of resurgence in automobile production in developing countries.
With the adoption of stringent environmental legislations focused on reducing fuel consumption and minimizing rolling resistance, tire technology is also evolving. The adoption of labeling requirements across Japan and Europe is resulting in increased demand for ultra-high performance and greener tires, worldwide. SSBR and Nd-PBR are commonly used in the production of high-performance tires, wherein fuel efficiency, reduced carbon dioxide emissions, and lower rolling resistance hold huge significance. SSBR and Nd-BR provide superior elasticity, endurance, wear durability, enhanced abrasion resistance, improved fatigue and groove cracking resistance and reduced heat buildup, all of which are vital for effective tire performance.
As stated by the new market research report on Synthetic Rubber, Asia-Pacific represents the largest and the fastest growing market worldwide. With relatively higher economic growth than developed Western economies, emerging countries in Asia-Pacific, Latin America, Middle East & Africa and Eastern Europe are positioned for strong growth. Styrene butadiene rubber (SBR) represents the largest product market with growth supported by rapidly expanding automobile industry in Asian economies such as China. Among non-tire applications, consumption of SBR is forecast to increase in applications such as conveyor belts, footwear, floor tiles, gaskets, hoses, and adhesives. Nitrile Rubber ranks as the fastest growing product segment buoyed by expanding application in the production of protective gloves.
Major players covered in the report include Ashland Inc., Asahi Kasei Chemicals Corp., Chongqing Changshou Chemical Co. Ltd., Denki Kagaku Kogyo Kabushiki Kaisha, Dow Chemical Company, DuPont Performance Elastomers LLC, ExxonMobil Chemical Company, JSR Corporation, Korea Kumho Petrochemical Company, Lanxess AG, LG Chem Ltd., Showa Denko K.K, Synthos S.A., Tosoh Corporation, and Versalis.
The research report titled "Synthetic Rubber: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for geographic markets such as the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa and Latin America (Brazil, Mexico and Rest of Latin America). Product segments analyzed in the report include SBR, Polybutadiene Rubber, Ethylene Propylene Rubber, Polychloroprene Rubber, Nitrile Rubber, Polyisoprene Rubber, and Others.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Synthetic_Rubber_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/
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Raghu Gopal, Global Industry Analysts Inc, +1 408-528-9966, [email protected]
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