Global solution styrene butadiene rubber (S-SBR) market is anticipated to surpass US $6.2 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
As per the report, rapid industrialization, advancements in the automotive industry, and modernization of vehicles is driving growth in solution styrene butadiene rubber (S-SBR) market. Breakthroughs in global automotive industry and rise in average vehicle life are fueling industry growth.
Moreover, demands for features like improved fuel efficiency and reduced rolling resistance has accelerated the necessity for high-performance automotive tires, thereby supplementing product demand. The report cites that in 2017, the automotive tire application segment led the global market in terms of revenue.
Furthermore, rising applications in footwear and sports industries, and increasing use in polymer modification applications is boosting industry size. The study also estimates that increasing demand from developing nations, and rapid technological advancements would provide growth opportunities to players in solution styrene butadiene rubber (S-SBR) market during the forecast period.
In terms of regional share, Asia-Pacific is expected to become the leading contributor to global solution styrene butadiene rubber (S-SBR) market revenue over the forecast period. In 2017, the region reportedly recorded the highest market revenue. Moreover, growing demand for automotive vehicles coupled with rising disposable income are factors bolstering regional industry size.
Rapid industrialization in countries like China, India, and Japan, along with significant improvement in standard of living would complement business outlook. Additionally, stringent government regulations regarding use of eco-friendly tires along with rapid modernization of vehicles will boost Asia-Pacific solution styrene butadiene rubber (S-SBR) market growth over the forecast timeframe.
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The leading players operating in solution styrene butadiene rubber market include Asahi Kasei Corp., The Goodyear Tire & Rubber Co., Bridgestone Corp., Dow Chemical Co., Taiwan Synthetic Rubbers, Dynasol Elastomers, Tianjin Lugang Petroleum Rubber Co., Ltd., Versalis (Polimeri Europa), Trinseo S.A., and China National Petroleum Corporation among others.
The company profiles of these firms are mentioned in the report alongside their product benchmarking, business overview, financials, and recent developments. Industry partakers are increasingly launching new products into the market, primarily in a bid to expand their user base and business reach. These companies are also collaborating with other market players to develop innovative products that can satisfy end-user requirements and demands.
The report offers a summary of solution styrene butadiene rubber (S-SBR) market with respect to market forces, ecosystem analysis, industry trends, competitive ranking analysis, Porter’s five forces, and PEST analysis. It also provides an extensive quantitative and qualitative analysis of potential growth prospects and future trends in the market between 2018-2026.