- The key vendors in the Global Styrene Butadiene Rubber Market 2015-2019 are Asahi Kasei Corp., China National Petroleum Corp. (CNPC), Dynasol, Synthos SA and ZEON Corp.
London, 18 March 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Styrene Butadiene Rubber Market 2015-2019. Consumers are increasingly opting for green tires as they are eco-friendly, fuel-efficient, and durable, and provide grip and reduce carbon emission. Current vehicle engines consume more fuel with increase in friction, thereby causing more emissions. Manufacturers are now developing green tires that minimize roll resistance and increase performance. The Global SBR market is expected to grow at a CAGR of 7.36 percent during the forecast period of 2014-2019.
The APAC region accounts for the major share of the market, with leading countries such as China and India contributing significantly to the global market. Moreover, demand for high-performance tires and the implementation of tire labeling regulations are propelling the market.
“By increasing production capacity, manufacturers are able to meet consumer needs and production lines to produce other grades of the product,” says Faisal Ghaus, Vice President of Technavio Research.
“Many manufacturers from North America and Europe are setting up production plants in the APAC region because of low operation costs.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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