Styrene Butadiene Rubber (SBR) Market Driven by Rising End-User Demand
The Styrene Butadiene Rubber (SBR) market is mainly driven by the rising demand from its end-user applications. The building & construction and packaging industries are expected to drive the growth of this market over the next few years. The growth in the styrenic polymers market is stimulated by many expanding applications such as automotive, consumer goods, electrical & electronics, medical devices, wind energy, and so on. There is an increase in demand for SBR due to the labelling regulations introduced by the government in the tire manufacturing industry. These regulations are being adopted by different countries, such as Germany, Japan, the U.S., and South Korea. This has led to a worldwide increase in demand for SBR, especially from the tire and automotive industries.
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European Styrene Butadine Rubber Market:
The European Styrene Butadiene Rubber (SBR) market is expected to reach $2,470 million by 2018, growing at a CAGR of 1.1% from 2013 to 2018. Europe is the third-largest consumer of SBR after Asia-Pacific and North America. Europe contributes 16.05% to the global SBR market. Major growing end-user industries such as construction and automotive contribute to the increasing demand for SBR in Europe. The major countries in Europe that consumes styrene butadiene rubber (SBR) are Germany, Italy, and Russia.
North America Styrene Butadine Rubber Market:
North America is the second-largest consumers of SBR globally. In 2013, North America accounted for 25.90% of the global SBR market. The tire industry is the major consumer of SBR in North America, contributing to 74% of the North American SBR market in 2013.
Asia Pacific Styrene Butadine Rubber Market:
In terms of global SBR consumption, APAC is the largest market in the world. The Asia-Pacific market is one of the most promising markets for styrene butadiene rubber (SBR), both in terms of production as well as consumption. The APAC region has major emerging economies where end-user industries such as automotive and construction are growing rapidly. Availability of cheap raw material and labor, coupled with upcoming domestic demand enables this market to be the most attractive one for industry participants.
South America Styrene Butadine Rubber Market:
South America is a major emerging market of SBR, witnessing the highest growth rate. The major end-user industries of SBR in South America are the tire, footwear, construction, polymer modification, and adhesive industries. All these end-user industries are on a boom in the region, which is increasing the demand for SBR.
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