NEW YORK, November 29, 2016 /PRNewswire/ --
Shifting of automotive production base and growing use of polymer modifiers to drive SBR market in India
According to a recently released TechSci Research report, "India Styrene-butadiene Rubber (SBR) Market Study, 2011 - 2025", the market of SBR in India is projected to grow at a CAGR of over 8% during 2016 -2025. SBR exists as a non-oil resistant, and it can be used to produce several rubber products.SBR is one of the most important raw materials for automobile industry owing to its involvement in the production of tires.
India's overall polymer production stood at 6,533.15 thousand metric tons in 2014. With increasing polymer production in the country, the demand for SBR is also expected to grow during forecast period as it is used during polymer moulding process. Additionally, polymer modificationis expected to be the fastest growing application segment of SBR market in India during 2016 - 2025. Moreover, southern region is the leading demand generating region for SBR in the country.
"In India,around 23,960,940 vehicles were produced in the country in 2015. Owing to huge requirement of SBR in the country's tire industry, India SBR market is expected to grow at a robust pace during forecast period. Majority of the demand for SBR in India is catered by imports as the imported productsare cheaper as compared to domestically manufactured products."said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.
"India SBR Market Study, 2011 - 2025" has evaluated the future growth potential of India SBR market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by India SBR market.
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