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Styrene-Butadiene Rubber Market Overview:Some of the prominent factors that positively influence the growth of SBR market are increasing automobile production, rising demand for electric cables insulation, and increasing urbanization. Increasing urbanization along with rising per capita disposable income in developed and emerging economies are predicted to drive the growth of the market over the forecast period, 2017 to 2023.
High adoption rate along with the increasing consumption of SBR based adhesives & sealants in the construction industry. Moreover, continuous expansion of automotive sector as well as shifting manufacturers focus towards cost effective vehicles are estimated to fuel the growth of the market during the review period, 2017 to 2023. However, growing environmental concern regarding the toxic effect of chemicals used in SBR along with the implementation of strict regulations are predicted to hinder the market growth over the assessment period, 2017 to 2023.
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Styrene-Butadiene Rubber Market Key Players:
Some of the prominent players in the global styrene butadiene rubber are China Petroleum & Chemical Corporation (China), KUMHO PETROCHEMICAL (South Korea), LANXESS (Germany), JSR Corporation (Japan), Trinseo (U.S.), Sibur Holding PAO (Russia), Michelin Corporation (France), Bridgestone Corporation (Japan), Reliance Industries Limited (India), and Versalis S.p.A. (Italy), among others.
Styrene-Butadiene Rubber Market Segmentation:
Styrene-butadiene rubber market is segmented on the basis of type, end use, and region. Based on the type, the market is segmented into emulsion styrene butadiene rubber, and solution styrene butadiene rubber. On the basis of the end user, the market is segmented into automotive, construction, industrial, adhesives & sealants, footwear making, electrical & electronics, and others. Geographically, the global styrene butadiene rubber market is segmented into Asia Pacific, North America, Europe, the Middle East & Africa, and Latin America. Among them, Asia Pacific is estimated to grow at the highest CAGR during the forecast period.
Styrene-Butadiene Rubber Industry/ Innovation/ Related News:
August 22, 2017- The U.S. BASED oil and natural gas giant, ExxonMobil has acquired the Lion Copolymers Services facility in Baton Rouge, Louisiana, including the styrene butadiene rubber (SBR) plant. This facility is adjacent to ExxonMobil’s chemical site, which includes a cracker and butadiene (BD) extraction unit. BD is a major feedstock for SBR and other synthetic rubbers. This is going to add into production capacity of the company.
November 24, 2017- Lotte Versalis Elastomers, – a 50:50 joint venture established in 2013 with the aim of targeting growth in the Asian elastomers market has officially started production in Yeosu, South Korea. Versalis has announced the same. The newly started production includes EPDM, solution-styrene butadiene rubber and butadiene rubber, though Versalis did not give specific capacity details for these polymers. This is anticipated to boost growth of the regional market in Asia Pacific in coming years.
June 5, 2017- Trinseo S.A., a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber signed a definitive agreement to acquire APIApplicazioni Plastiche Industriali S.p.A. Trinseo will then have 15 factories in 15 international locations, with established gross sales and advertising groups in 27 international locations. Trinseo employs practically 2,200 throughout the globe, in response to firm reality sheets.
October 24, 2016- Trinseo S.A. a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber announced its plans to expand capacity for Solution-Styrene Butadiene Rubber (S-SBR). This increased investment is a response to rising customer demand for this critical technology. The asset upgrade at Trinseo’s world-class synthetic rubber manufacturing complex in Schkopau, Germany, is going to add 50 KT of S-SBR capacity, increasing the company’s global S-SBR production by 33%.
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Styrene-Butadiene Rubber Market Regional Analysis:
The Middle East & Africa is estimated to be the largest SBR market followed by North America and Europe due to strong existence of construction projects. In Europe, Germany, Russia, and Spain are predicted to register a strong growth on account of tremendous demand for SBR in tires manufacturing. In Asia Pacific, countries such as China, India, and South Korea are the fastest growing market for SBR and is estimated to grow with the same pace over the forecast period. Improving living standards along with the flourishing growth of electrical industry is predicted to contribute to the regional market growth. In North America, U.S and Mexico are among the major contributors in the regional market growth due to expansion of offshore and onshore activities as well as increasing innovations is expected to bridge the demand gap for SBR raw materials. In Latin America, Mexico is expected to register strong growth due to robust presence of automobile manufacturers.
Styrene-Butadiene Rubber Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Styrene Butadiene Rubber Market
Styrene-Butadiene Rubber Market Table of Content to be Continue….,
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