A new report published by Transparency Market Research based on “Solution Styrene Butadiene Rubber Market – Global Industry Analysis, Size, Share, Growth and Forecast, 2012 – 2018” includes a detailed analysis of the styrene butadiene rubber (SBR) market in terms of revenue (USD million) and volume (kilo tons) from 2012 to 2018. The report explains the impact of the key drivers and restraints on the market, along with the market opportunities in the future over the forecast period.
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The report adds that the global S-SBR demand in 2011 was 550.0 kilo tons in 2011 and the market is expected to reach 1,062.0 kilo tons in 2018. The S-SBR market is rapidly growing at a CAGR of 9.98% from 2012 to 2018. Considering revenue, the market was valued at US$1.5 billion in 2011 and is poised to grow at a CAGR of 11.27% from 2012 to 2018.
One of the major factors boosting the S-SBR market demand is the growing disposable income in developing countries such as Brazil, India, and China that has led to an increased substantial growth in automobile demand, thus in turn boosting the tire consumption. According to the new regulations in the automobile industry, the need of high performance tires is high. Tires can only be manufactured using S-SBR which further spurs the S-SBR demand across the global market.
The demand for S-SBR from the tire industry was 424.16 kilo tons in 2011. Over the next five years the market is predicted to witness double-digit growth rate. In terms of revenue, the tire market was valued at US$1,135.2 million in 2011 and is further expected to reach US$2,647.8 million in 2018.
Nevertheless, most of the growth in the S-SBR market is mainly driven by the rising demand from the tire manufacturing industry – which is ultimately the largest consumer of solution styrene butadiene rubber. Rising disposable income and the growing automobile market have been some of the additional growth contributing factors that have resulted in increased need for mobility. This factor in turn has driven high growth in the automobile market too.
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The demand for S-SBR market broadly outstrips the current supply in the market. This has encouraged majority of the companies to build new S-SBR facilities and expand the existing ones. Moreover, tire labeling regulations in developed countries such as Korea, Japan, and the European Union have vastly contributed to the growth and demand for solution styrene butadiene rubber market.
However, certain market inhibitors remain dominant across the globe. Volatility in cost of raw materials in addition to environmental concerns over the manufacturing of S-SBR may affect the global solution styrene butadiene rubber market poorly over the forecast 2012 – 2018.