Albany, NY -- (SBWIRE) -- 05/19/2014 -- According to a new market report published by Transparency Market Research "Solution Styrene Butadiene Rubber (S-SBR) Market for Tire, Polymer Modification, Footwear & Others - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 - 2018," global S-SBR demand was 550.0 kilo tons in 2011 and is expected to reach 1,062.0 kilo tons in 2018, growing at a CAGR of 9.98% from 2012 to 2018. In terms of revenue, the market was valued at USD 1.5 billion in 2011 and is expected to grow at a CAGR of 11.27% from 2012 to 2018.
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One of the primary reasons for the increased S-SBR demand has been the recently implemented tire labeling regulations in the European Union and other countries such as South Korea and China. The high performance tires that are required as per the new regulations can only be manufactured by using S-SBR. The implementation of this regulation may result in a domino effect where the remaining nations may follow suit which would further spur S-SBR demand.
In addition, the growing disposable income in developing countries such as India, China and Brazil has led to substantial growth in automobile demand, which in turn boosts tire consumption. However, fluctuating raw material costs along with environmental concerns over the manufacture of S-SBR may have an adverse effect on this market. In addition, the demand for S-SBR currently outpaces the supply, which has resulted in major companies constructing new S-SBR facilities and expanding the existing ones.
Tires were the most dominant application for S-SBR and accounted for over 79% of the overall volumes in 2011. S-SBR demand in footwear and polymer modification is expected to grow at a CAGR of 8.4% and 7.3% from 2012 to 2018 respectively. In addition, increasing middle class population coupled with increasing disposable income of the consumers in this region may drive S-SBR demand over the next few years. Increasing awareness of advantages of S-SBR over other materials in application areas such as footwear and polymer modification may positively affect the market in this region.
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Asia-Pacific was the largest market for S-SBR and accounted for over 50% of the global market share in 2011, followed by Europe and North America. Within this region, China is the largest consumer of S-SBR due its large automobile and tire industry. Footwear and polymer modification are also other markedly large application areas of S-SBR in this region. Additionally, S-SBR is finding application in areas such as adhesives and sealants as well as niche application segments such as conveyor belts and cables.
Some of the leading manufacturers of S-SBR in the global market include Lanxess, Dynasol Elastomers, SIBUR Holding JSC and LG Chemicals among others. The report profiles the above mentioned companies along with their detailed market share analysis and product portfolios of some of these companies. Market share analysis has also been provided on a regional level for North America, Europe, Asia Pacific and RoW.
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The report also includes a detailed analysis of the S-SBR market in terms of volume and revenue. In addition, the study includes the demand forecast for each application in regions such as North America, Europe, Asia Pacific and Rest of the World.
Besides, a detailed analysis of S-SBR from the market and consumer perspective is given.
The report comprises of the following segments:
S-SBR Market, by Application:
- Polymer Modification
- Adhesive and Sealant
The report covers application demand in the following regions:
- North America
- Asia Pacific
- Rest of the World (RoW)
In addition, the report consists of product portfolios for companies such as:
- Polimeri Europa
- Asahi Kasei
- Goodyear Tire and Rubber Company
- LG Chem
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