Albany, NY – A new market report published by Transparency Market Research “Solution Styrene Butadiene Rubber (S-SBR) Market for Tire, Polymer Modification, Footwear & Others – Global Industry Analysis, Size, Share, Growth and Forecast, 2012 – 2018,” global S-SBR demand was 550.0 kilo tons in 2011 and is expected to reach 1,062.0 kilo tons in 2018, growing at a CAGR of 9.98% from 2012 to 2018. In terms of revenue, the market was valued at USD 1.5 billion in 2011 and is expected to grow at a CAGR of 11.27% from 2012 to 2018.
One of the primary reasons for the increased S-SBR demand has been the recently implemented tire labeling regulations in the European Union and other countries such as South Korea and China. The high performance tires that are required as per the new regulations can only be manufactured by using S-SBR. The implementation of this regulation may result in a domino effect where the remaining nations may follow suit which would further spur S-SBR demand. In addition, the growing disposable income in developing countries such as India, China and Brazil has led to substantial growth in automobile demand, which in turn boosts tire consumption.
However, fluctuating raw material costs along with environmental concerns over the manufacture of S-SBR may have an adverse effect on this market. In addition, the demand for S-SBR currently outpaces the supply, which has resulted in major companies constructing new S-SBR facilities and expanding the existing ones.
Source: Rubber World
