HTPB (Hydroxyl-Terminated Polybutadiene) Market

HTPB Market-Size 2023-2028

The hydroxyl-Terminated polybutadiene Market is predicted to reach $ 300.7 billion by the year 2028, when compared to $ 190.00 billion in 2022, at an annual growth rate of 12.6% in the foreseen timeframe from 2023-2028

HTPB (Hydroxyl-Terminated Polybutadiene) is a butadiene oligomer terminated at one end of each side with a hydroxyl property. Reaction with isocyanates takes place to give rise to polyurethane polymers. HTPB is a translucent solvent with a color that is same to same as wax paper and viscosity the same as corn syrup. The significant use of HTPB is in a hard rocket booster. The oxidizing medium and other composites combine into a solid yet elastic volume product. These HTPB (Hydroxyl-Terminated Polybutadiene) resins are featured a low content of volatile matter, low glass transition temperatures, excellent hydrophobicity, and a high level of reactive functionality. The hydrocarbon nature of HTPB (98.7%), and also its less viscosity and less particular density make it a great fuel binder for PU propellant. It is physically and chemically suitable with traditional oxidants and other composites in normal storage temperatures.

The increasing employment of HTPB products in making construction adhesives is driving calls for the expansion of the worldwide Hydroxyl-Terminated Polybutadiene industry. HTPB is less costly when compared to polybutadiene and is subject to price volatility depending on the expenses of the raw materials in question. The significant players working in the worldwide Hydroxyl-Terminated Polybutadiene market have proprietary technologies to make HTPB. This acts as a barrier to the entry of the latest makers in the HTPB business. In spite of its excellent features, the price of HTPB would prove to be a hindering factor for the global Hydroxyl-Terminated Polybutadiene market throughout the foreseen period.

HTPB Market Drivers & Restraints:

The curiosity to explore the world outside earth many space missions are being carried out by various space centers across the globe. This has demanded technological advancement in the type of rocket fuels we use, hence boosting the growth in the market.HTPB is also used in various other industries such as the construction, defense, & automobile sector. Polyurethanes manufactured from HTPB can be used as insulating panels, hybrid tires, surface sealants & coatings, & also in the development of synthetic fibers. These are also some of the factors which would be boosting the market growth in the forecast period (2020 – 2025).  HTPB-derived solid propellants are very effective as space rocket fuels. The efficiency of these fuels can be enhanced when mixed with certain additives which will help to improve the burning rate. Therefore, this market has a lot of scope for growth as many R & Ds are being carried out in this field mostly in the development of composite solid fuels (CSPs). The fluctuation in prices of HTPB & general high prices is some of the factors pulling the growth of the market. HTPB-derived solid fuel is being patented by their manufacturers and hence blocking the entry of new market players. This is also one of the reasons for restraining the growth in the market.

HTPB MARKET REPORT COVERAGE:

HTPB Market Segmentation as per the research report until 2028.

HTPB Market - By Application

• Rocket Fuel
• water sealants & Membranes 
• Adhesives

HTPB Market - By End-Users

• Aerospace & Defense

• Construction

• Automotive

• Electrical & electronics 

HTPB Market - By Region

• North America

• Europe

• Latin America

• Asia Pacific

• Middle East & Africa

North America is known to be the largest consumer of hydroxyl-terminated polybutadiene in the world. This can be credited to the expansion of the automotive and aerospace industries in the region. Europe is an important market for hydroxyl-terminated polybutadiene. The worldwide HTPB industry in the European region is predicted to grow at an average pace during the foreseen timeframe. Asia-Pacific region is foreseen to be the quickly expanding worldwide industry from the year 2020 to 2025, owing to high expansion in the electronic and semiconductor-making sector in the region. Latin America and the Middle East and Africa are relatively small areas in the hydroxyl-terminated polybutadiene business. All the regions are expected to experience moderate growth in demand between 2020 and 2025.

HTPB Market Key Market Players:

Some of the key market players are TOTAL Cray Valley (France), Evonik Industries (Germany), Idemitsu Kosan (Japan), Emerald Performance Materials (United States of America), CRS Chemicals (United States of America), ISLAND PYROCHEMICAL INDUSTRIES CORP. (United States of America), Monomer – polymer DAJAC Labs (United States of America), Zibo Quilong Chemical Industries (China), Polymer Source ( Canada), Aerocon Systems Co. (United States of America), MACH I (United States of America).