- The styrene butadiene market is likely to cross USD 23 billion by 2020. Rising demand for SBR in tire production would further market sales in the next few years. SBR is commercially accessible as a solution (S-SBR), or emulsion (E-SBR) relying on the element initiating polymerization.
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The polymerization of butadiene and styrene leads to the manufacture of SBR emulsions, and solutions. This procedure is carried out by using styrene, and butadiene monomers. According to a recent study by Grand View Research Inc., the worldwide styrene butadiene market was estimated at around 5, 110 kilo tons in 2013. It would observe a CAGR of more than 6.1% from 2015 to 2020.
E-SBR is a highly preferred rubber in tires. This is because of its physical strength and easiness in manufacturing. However, manufacturers can switch between different grades of E-SBR (excluding the changing process) to produce tires. The key application segments in the market are footwear, adhesives, tires, and polymer modification.
Accentuating demand for styrene butadiene in these segments is predicted to drive the market forward. In 2013, tires were one of the largest segments and contributed over 73.4% in the worldwide styrene butadiene market. SBR possesses enhanced abrasion resistance making it suitable for high-performance sports footwear. EU regulations have made most of the manufacturers classify their tires on the basis of rolling resistance.
The implementation of tire classification regulations in Europe, Korea, and Japan needed for manufacturing high grade Green Tires would also boost the styrene butadiene market. Asia Pacific was the leading consumer in the last few years. It owed this to the expanding tire manufacturing industries of China and India.
Both the aforementioned nations will employ tire labeling policies in sequence with EU policies by 2015. This is likely to raise the sales of S-SBR. Europe followed Asia Pacific in terms of consumption. Italy, Germany, and France would observe growing tire manufacturing considering latest regulations. The styrene butadiene market is segmented, with top ten firms occupying less than 65 percent share in 2013.
Prime firms have been concentrating on counterbalancing the impact of unsteady raw material prices. They are also engaged in innovative practices to gain significant market traction.
Information Source: Grand View Research
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