Global Styrene Butadiene Rubber Market Overview:
Styrene-butadiene or styrene-butadiene (SBR) describe families of synthetic rubbers derived from styrene and butadiene that have a good resistance to abrasion and a good stability to aging when they are combined with additives. In 2012, more than 5.4 million tons of SBR were processed worldwide. About 50% of car tires are made of different types of SBR. The styrene / butadiene ratio influences the properties of the polymer: with a high styrene content, the rubbers are harder and less gummy. SBR should not be confused with a thermoplastic elastomer of the same monomers, a styrene-butadiene block copolymer. The styrene butadiene rubber (SBR) market is expected to register a CAGR of nearly 4% during the forecast period, 2018-2023.
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Factors Driving Global Styrene Butadiene Rubber Market:
The main factor driving market growth is the growing demand for high performance tires in the automotive industry. In addition, the growing demand in emerging economies is also driving market growth. It is expected that the increasing demand for electric and hybrid vehicles will strengthen the demand of the tire industry, which in turn propels the market growth. In addition, the high energy efficiency of motor vehicles creates a demand for low rolling resistance of the tire, which should boost the demand for SBR in the tire sector. Additionally, the technological advancements in the automotive industry, increasing investments in the research and development and the improving economies are further expected to accelerate the styrene butadiene rubber market in the years ahead.
Global Styrene Butadiene Rubber Market Geographic Segmentation:
The Asia-Pacific region is the largest consumer of this synthetic rubber. SBR represents almost 45% of its volume. Countries such as China and India benefit from the advantage of the low-cost labor force of the automobile manufacturing industry, which accounts for most of the SBR consumption and is expected to record compound annual growth of around 14%. In addition, the growing demand for adhesives in these countries is also driving the Asia-Pacific market.
Key Players in this Global Styrene Butadiene Rubber Market are:
Sinopec, Trinseo, LG Chem, Sibur, Reliance Industries Limited and Sumitomo Chemicals, among others.
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