Styrene Butadiene Rubber Market
diversified into various regions such as Europe, North America, Asia Pacific, and Rest of the World.
Styrene Butadiene Rubber: Growth Factors
Tire is the leading industry in the usage of styrene butadiene rubber. Recently, the countries have imposed the labeling regulations on the tire manufacturers, that is, the tires need to be labeled for effective fuel consumption, wet grip and resistance to rolling. The footwear industry is also growing rapidly which in turn is driving the styrene butadiene market. The styrene butadiene rubber provides better performance and abrasion resistance, thus contributing to the styrene butadiene rubber market to grow rapidly. The other segments that contribute to the market growth are adhesive, polymer modification, and insulation.
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Styrene Butadiene Rubber: Regional Analysis
The styrene butadiene rubber market is led by the Asia Pacific region. The main factor that has made the styrene butadiene market grow is the tire industry. China is the leading country in the tire manufacturing industry. Owing to the reason that the region has low labor and operating cost, the tire manufactures have shifted their facilities to the Asia Pacific region. The increased middle class population and economic development in China and India have made a significant growth in the automobile industry which in turn increased the market growth of styrene butadiene rubber. Countries such as Malaysia, Indonesia, and Thailand have also grown