Styrene Butadiene Market to Grow at CAGR of 6.2 % From 2015-2020: Hexa Research

Aug 25, 2015, 08:00 ET from Hexa Research

SAN FRANCISCO, August 25, 2015 /PRNewswire/ --

Styrene butadiene market is estimated to hit USD 23,143.2 billion by 2020. Increasing demand of SBR in production of tires likely to support the growth of this market in upcoming years. The automobile industry has witnessed major augmentation over past few years, which has increased the demand of synthetic rubbers. Tire was the one of the largest segment for SBR industry contributing to 73.4% of total use in 2013 in global market. The global SBR market was 5,112.4 kilo tons in 2013 and is possibly to grow at CAGR of 6.2% from 2015 to 2020.Largest consumer of SBR with consumption of more than 1,000 kilo tons was Europe in 2013.

According to Hexa Research, EU labeling system came into effect from 2012 are expected to augment the demand for S-SBR in few years. Italy, France and Germany are likely to witness increase in tire production in next six years. Based on the polymerization process Emulsion and Solution SBR are manufactured.

Browse full research report with TOC on " Global Styrene Butadiene Rubber (SBR) Market Analysis By Application (Tire manufacturing, Construction, Footwear, Adhesives), And Segment Forecasts To 2020" at : http://www.hexaresearch.com/research-report/styrene-butadiene-rubber-industry/

This process use styrene and butadiene monomers for polymerization. Top ten companies contributing for less than 65% of the market, global market is fragmented. The execution of tire classification regulations in EU countries, Korea and Japan which is necessary for manufacturing of high grade Green Tires is anticipated to increase S-SBR demand. EU regulations in last few years, made it compulsory for all manufactures to labeling their tires for rolling resistance and wet grip. In production of high grade tire, Nd-NBR filler and S-SBR are the major requirements.

Asia Pacific was the prime market for SBR in the recent past for contributing for increasing tire manufacturing industries in countries like India and china. Europe was counted as the second largest on account of the increasing  government spending on infrastructure development  in developing countries as India, Brazil and China. Few Key players in SBR Market are Nova Chemicals Corporation, Michelin Group, Good year tire, Continental AG and the Bridgestone Group.

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SOURCE Hexa Research