Transparency Market Research includes new market research report "High Performance Rubber Market" to its huge collection of research reports.
Albany, NY -- (SBWIRE) -- 10/16/2014 -- The use of high performance rubber in automotive tires has increased in recent years due to stricter government norms in terms of safety as well as consumers demanding high-quality performance. The global high performance rubber market is largely driven by the automotive industry and also by growing purchasing power of consumers from emerging economies.
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Benefits of high performance rubber
The global automotive industry has grown with leaps and bounds in recent years due to mounting worldwide demand and major technological advances. Performance conscious consumers have been demanding more from the automotive industry in terms of speed, comfort, efficiency, and safety. As a result, the high performance rubber market has received a significant boost. The automotive rubber industry has been experiencing a shift from the use of conventional rubber and raw material to high performance rubber that combines complex and highly efficient components to deliver the best quality tires.
High performance tires use solution styrene butadiene rubber and neodymium-based performance butadiene rubber. Adding these elements has many advantages: increases tire safety, improves grip on wet roads, increases rolling resistance, improves durability, provides increased resistance to abrasions, and enhances fuel efficiency.
Growing popularity of high performance rubber has encouraged market players to develop new and innovative technologies to deliver the best on-road performance.
Growth of “Green Tires”
Regulatory authorities have since long been on the lookout for ways to reduce the environmental footprint caused by transportation. The use of “Green Tires” is a trend that is fast catching up among environment conscious customers. The two primary ingredients of high performance rubber – solution styrene butadiene rubber (S-SBR) and neodymium-based performance butadiene rubber (Nd-PBR) – are both used in the manufacture of Green Tires. While S-SBR is the key tread compound of Green Tires, Nd-PBR is used to produce the side walls and treads of the tires. Experts have shown that these innovative and environment-friendly tires reduce the consumption of fuel by 5% to 7% and compared to other fuel-saving techniques, have a much faster price amortization rate. As a result, the demand for Green Tires is expected to propel the overall high performance rubber market. Forecast suggests that by 2015, high performance rubber tires will form nearly 50% of all tires globally.
Global demand for styrene butadiene rubber supporting the high performance rubber market
Solution styrene butadiene rubber (S-SBR) is a vital ingredient of high performance rubber and the growing demand for styrene butadiene rubber has aided the growth of the global high performance rubber market. The total production of styrene butadiene rubber in 2011 was 4,600 kilo tons, and growing at a 5.0% CAGR, is expected to be 6,754.8 kilo tons in 2018. In terms of revenue, the styrene butadiene market was worth US$1.3 billion in 2011 and growing at a 7.1% CAGR, will be worth US$18.9 billion by 2018. There are numerous factors that affect the styrene butadiene market, thereby fueling the growth of the high performance rubber market. These factors include a thriving global tire market, natural rubber giving way to styrene butadiene rubber, growing middle class population and rising disposable incomes, and favorable regulations on the part of the government.
Participants of the global high performance rubber market
The worldwide market for high performance rubber is highly concentrated with a handful of major players dominating the overall market scenario. Some of the leading high performance rubber market players are LANXESS AG, Continental AG, The Goodyear Tire & Rubber Company, Pirelli & C. SpA, The Bridgestone Corporation, and Michelin. Solution styrene butadiene rubber (S-SBR) is a key ingredient of high performance rubber and some of the top companies dealing in styrene butadiene rubber are Sinopec, Asahi Kasei, China National Petroleum Corporation (CNPC), Versalis, and Synthos S.A.
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