Global Solution Styrene Butadiene Rubber Market Driven at 11.27% CAGR Due to Demand from Tire Industry: Transparency Market Research
By Business Wire News
A recent report released by Transparency Market Research forecasts the growth of global solution styrene butadiene rubber (S-SBR) market at a CAGR of 11.27% from 2012 to 2018. The report, titled “Solution Styrene Butadiene Rubber Market – Global Industry Analysis, Size, Share, Growth and Forecast, 2012 – 2018” forecasts the global demand for S-SBR to reach 1,062 kilo tons by 2018.
The report indicates that the increasing growth in global tire market will fuel the growth of the S-SBR market during the forecast horizon. Growth in tire market can be attributed to the rise in disposable income of the growing middle class population, which has resulted in the increase of automobile demand. Automobile sector has mandated the need for high performance of the tires which in turn has increased the demand for S-SBR. However, the report cites that volatile raw material prices and environmental concerns will negatively affect the growth of the market during the forecast period.
The report segments the global S-SBR market on the basis of S-SBR application in tire, footwear, adhesive and sealant, polymer modification, and others. In 2011, tire industry registered highest demand in the market. The demand is expected to increase considerably during the forecast period and the segment is estimated to be valued at US$2,647.8 million by 2018.
Based on geography, the report segments the global S-SBR market in North America, Europe, Asia Pacific, and RoW. Tire labeling regulations in European Union and in Asia Pacific regions will contribute significantly to the market growth in these regions.
The report profiles the key vendors of the global S-SBR market such as Bridgestone Corporation, Goodyear Tire and Rubber Company, Sinopec, and Styron.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.