Global Styrene-butadiene Rubber (SBR) market is expected to show a lucrative growth rate during the forecast period. SBR hold the largest application in the synthetic rubber market as it has wide application in various industry verticals, especially in tire manufacturing in the automotive segment. However, the unstable crude price at the international market is one of the major restraints to the market. The downfall of the automotive market in 2019 is slowing the demand for tires from OEMs (Original Equipment Manufacturers). The global SBR market is studied on the basis of end-user. By end-user, the market is further divided into tires & other automobile components, industrial application, footwear, household, and others. Tires and other automobile components will hold the major market share during the forecast period.
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Geographically, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the World. During the forecast period, Asia-Pacific is expected to hold the major market share with a significant growth rate. The major factor for the significant market in the region includes the high demand for SBR due to the automotive market in countries such as China, Japan, India, and South Korea. Moreover, the region is a hub for consumer electronics manufacturing which is also expected to create a significant demand for the market. Europe is expected to hold the second-largest market share owing to the significant production of the vehicle in Germany, UK, Spain France, and Italy. In North America, the US will hold a major market share whereas in the Rest of World countries such as Brazil, South Africa, UAE are expected to hold a significant market share during the forecast period.
The companies which are contributing significantly in the market include Asahi Kasei Corp., Bridgestone Corp., Exxon Mobil Corp., JSR Corp., LG Chem, Ltd., SABIC, Sumitomo Chemical Co., Ltd., The Dow Chemical Co., The Goodyear Tire & Rubber Co., The Michelin Group and others. The market players are considerably contributing to the market growth by the adoption of various growth strategies including new product launch, merger, and acquisition, collaborations with government, and technological advancements to stay competitive in the market.
Global Styrene-butadiene Rubber (SBR) Market- Segmentation
· Tires & other automobile components
· Industrial Application
· Others (Electronics)
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Global Styrene-butadiene Rubber (SBR) Market– Segment by Region
· United States
· United Kingdom
· Rest of Europe
· Rest of Asia-Pacific
Rest of the World
· Middle East & Africa
· Latin America
· Asahi Kasei Corp.
· Bridgestone Corp.
· Exxon Mobil Corp.
· JSR Corp.
· Kuraray Co., Ltd.
· LG Chem, Ltd.
· Reliance Industries Ltd.
· Sumitomo Chemical Co., Ltd.
· The Dow Chemical Co.
· The Goodyear Tire & Rubber Co.
· The Michelin Group
· TSRC Corp.
· Ube Industries, Ltd.
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