Polybutadiene Market

Polybutadiene Market Size (2023-2028)

The polybutadiene market was valued at USD 10.4 billion in 2022 and is predicted to reach USD 13.9 billion by 2028, with a CAGR of 5.4% during the foreseen period.

Exceptional rolling resistance and low glass transition temperature that contribute to improved fuel economy make polybutadiene hand-selected polybutadiene for tire manufacturing. Almost 70% of the polybutadiene produced is employed in the manufacture of tires. Due to its excellent elasticity, polybutadiene is also ideal for the manufacture of golf balls. Polybutadiene's high resistance to abrasion makes it suitable for use in the manufacture of tires. Niche applications, including golf balls and other toys, are predicted to drive market calls for polybutadiene during the foreseen period. Liquid polybutadiene manufacturers strive to increase awareness of their product portfolio. This should help drive the call for liquid polybutadiene around the world. The growing regional presence and investments in downstream applications are predicted to provide a competitive advantage in the market. Producing high-value products such as solvents and rubbers that are employed in applications other than tire manufacturing, such as propellants and surface sealants, should be the primary strategy. Firms such as Trinseo and Synthomer PLC have acquired adhesive and sealant manufacturers to expand their businesses and increase the call for polybutadiene-based solvents.

Polybutadiene Market Drivers:

The endless trot of applications is driving the expansion of the global polybutadiene market. It is employed in many applications such as tires, polymer modification, chemicals, industrial rubber manufacturing, and others. However, it has the greatest application in the production of automobile tires. Therefore, the strong call in the automotive industry and the increase in the production of motor vehicles are based on a strong expansion of the polybutadiene industry. In addition, the rapidly changing industry, growing call in the luxury vehicle segment, and the sophistication of industrial machinery are also driving market expansion. Escalating the call for a low-cost natural rubber substitute with superior properties is predicted to increase its consumption.

The rising demand for advanced rubber and chemical-resistant material is supporting the expansion of the polybutadiene market around the world. In keeping with the call for a modern lifestyle, many technological innovations and advancements are escalating in industrial rubber, which has prompted the application of liquid polybutadienes in various end-use industries. Liquid polybutadiene is employed to make tires, belts, hoses, rubber products, bands, shoes, adhesives, coatings, and others. The worldwide market for polybutadiene can grow with a wide variety of end-uses and performance requirements. A strong call for rubber products in many regions, especially in developing countries, is promoting the use of synthetic rubber in the manufacture of automobile tires and other industries. This has led to an increased call for polybutadiene in rubber manufacturing. Vital manufacturers in the global polybutadiene market are focusing on increased awareness of their product portfolio, helping them to strengthen their market presence around the world.

Restraints in the Polybutadiene Market:

Lesser-known expansion factors include the rise of polystyrene and ABS in the production of consumer goods along with a booming call for industrial rubber. But the market may be declining due to environmental risks and questions about health outcomes in the polybutadiene market.

Opportunities in the Polybutadiene Market:

High cis derivatives are predicted to be the fastest-growing product segment on the market, showing steady expansion due to compact calls from the tire manufacturing industry. The application of polymer modification is predicted to grow limitlessly due to the increased expansion of modified polymers and golf balls.

Challenges in the Polybutadiene Market:

Price volatility is a looming issue in the polybutadiene market, creating restrictions in the market.

POLYBUTADIENE MARKET REPORT COVERAGE:

Polybutadiene Market Segmentation as per the research report until 2028.

Polybutadiene Market - By Type:

• Solid polybutadiene

• Liquid butadiene

By type, the solid polybutadiene segment accounted for the largest market share in 2019. It is widely employed in tire manufacturing. The use of solid polybutadiene rubber in other applications such as polymer modification, sporting goods, manufacturing of industrial rubber products, and footwear also increases its consumption.

Polybutadiene Market - By Application:

• Tires

• Polymer modification

• Industrial rubber

• Chemical

The tire industry is developing due to the expansion of the automotive industry. It represented the majority of the general market for polybutadiene. Additionally, this segment is predicted to experience significant expansion during the foreseen period. Polybutadiene is widely employed in tire manufacturing due to its toughness, good abrasion resistance, cold resistance, high tensile strength, high resilience, tear resistance, and durability.

Polybutadiene Market - By Region:

• North America 

• Europe 

• Asia Pacific

• Latin America 

• Middle East & Africa 

APAC is estimated to represent the largest value of the worldwide polybutadiene market in 2021. The market is driven primarily by strong calls from the automotive industry. China is predicted to boost the call for polybutadiene during the foreseen period. Rising disposable income, a huge consumer base, a rising urban population, low labor costs, and easy availability of raw materials are driving worldwide automakers to relocate their production facilities to the region, creating thus a high call for polybutadiene in this region. The polybutadiene market has been dominated by Asia-Pacific and North America. The presence of large petrochemical firms in the region along with the expansion of the downstream industry is driving market expansion. Consumption in North America has been greatly affected by the supply of butadiene in that region. Call in this region is supposed to grow at a moderate pace due to the slowdown in production in end-use industries. Polybutadiene capacity additions in the US and Canada are predicted to increase market calls over the outlook period. The Asia-Pacific market is driven by growing calls from the tire industry. The presence of major automakers such as Toyota, SAIC, and KIA Motors is likely to promote the call for polybutadiene. The escalating number of new cracking facilities in the region is a big boost for manufacturers as it is predicted to streamline the supply of butadiene. The Middle East and Africa is a nearby market due to the presence of a large number of oil reserves. Multiple disruptions, including the shale gas revival in the United States and falling crude oil prices, are shaping the market for polybutadiene in this region.

Major players in the polybutadiene market:

1. ARLANXEO (Netherlands)

2. JSR Corporation (Japan)

3. UBE Industries Ltd. (Japan)

4. SABIC (Saudi Arabia)

5. LG Chem Ltd. (South Korea)

6. Versalis SPA (Italy)

7. PJSC SIBUR Holdings (Russia)

8. Sinopec (China)

9. Kuraray Co. Ltd. (Japan).