Products such as neodymium-based performance butadiene rubber (Nd-PBR) and solution styrene butadiene rubber (S-SBR) mixed together in appropriate proportions result in high-performance rubber. Styrene and butadiene are derived from the family of synthetic rubbers, the same family from which these products represent.
Nd-PBR plays an important role in manufacturing the treads and side walls of "Green Tires" whereas S-SBR is widely used as the chief tread compound of "Green Tires". Adding of these products results in safety of tires, lessens rolling resistance, improved grip on wet road, increased fuel efficiency, and high resistance to abrasion. This results in increased durability of the tires.
Increasing popularity of high performance rubber in the market is enabling market players to develop new production capacities and targets. High performance rubber finds application in the automotive industry such as in tire manufacturing. The current automotive rubber market will now shift to use high performance rubber due to its qualities such as safety, durability, resistance, and strong grip. Recent studies show that tiers made from high performance rubber enable lesser fuel consumption when compared with others. This is a major factor that led to the growth of the rubber market. On the other hand, regulatory authorities are focusing to lower the value of environmental footprint of transport. Further, according to actions taken by European Regulatory, tires will be categorized on the amount of fuel consumption, noise level, and wet-weather capabilities. This will result in tremendous growth in high performance tires market.
The main factor that will cause the graph of this market to point in downward direction is the increasing cost of raw material such as butadiene. On the other hand rising fuel cost will also act as a restraint. To avoid this, increasing green awareness and performance-conscious consumers coupled with faster amortization rate will help to overcome this concern and boost the growth of the global market. Moreover, this market is expected to take a huge jump in the growth due to rising demand of environment-friendly rubber products and strict regulations imposed by regulatory organizations.
Basically, the market is divided on the basis of two types: natural and synthetic. Further, high performance rubber market is categorized under the synthetic rubber. Other major synthetic rubbers in the market consist of polyacrylate rubber, ethylene-acrylate rubber and polyester urethane.
The high performance rubber market is segmented on the basis of geographic regions as North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia Pacific is anticipated to witness high growth in future owing to increasing demand for high-performance rubber in this region.
Some of the major players dominating the global high-performance rubber market include Michelin, Goodyear, Bridgestone, Pirelli, Continental, and LANXESS
High-Performance Rubber Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa