The
global Styrene
Butadiene Rubber (SBR) Market is expected to reach USD 9.9 billion by
2025, according to a new report by Grand View Research, Inc. Significant
increase in the demand for OEM tires from the automobile industry is likely to
augment the utilization of SBR over the forecast period. In addition, long
vehicle life coupled with a shift in consumer preference toward
high-performance tires is likely to have a positive impact on the growth over
the next nine years.
In
the recent times, the demand supply gap for natural rubber (NR) has widened,
making the prices of the commodity a matter of concern. In 2016, the growth in
supply of natural rubber was 1.1% while the demand grew at a rate of about 6%.
This deficit has been exerting a pressure on the supplies and leading to a high
volatility in the prices, which in turn has been a major driver for the growth
of the SBR industry.
Over
the last five years, the average consumption of synthetic rubber has been
higher than NR by about 3,500 kilo tons per year. SBR is the highest consumed
synthetic rubber, accounting for over 45% of consumption. Therefore, the
restraints faced by the NR industry act as the major drivers for the synthetic
rubber market.
Browse
Details of Report @
http://www.grandviewresearch.com/industry-analysis/styrene-butaidene-rubber-industry
Further key findings from the report suggest:
- The tire
application is expected to witness a CAGR of 1.7% from 2016 to 2025 owing
to the rising demand from the automotive industry in emerging economies
including China, India, and Brazil
- The global
S-SBR market is expected to witness a CAGR of 8.8% from 2016 to 2025 as
manufacturers are increasingly focusing on converting E-SBR plants into
S-SBR manufacturing facilities
- The SBR
market is driven by the rising demand from the Latin America and the
Middle East & Africa regions owing to the increasing production of
tires and the presence of numerous petrochemical companies across the
region
- In October
2015, Kumho Petrochemical Company, under a joint venture with Sunny
Plastics Co., Ltd., set up its third ABS plant in China to establish its
foothold in the Chinese market
- In June
2016, Versalis and LOTTE Chemical entered into a partnership to expand
their presence in the Asian synthetic rubber industry
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment