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Increasing demand for tire from the automobile industry is expected to drive the overall polybutadiene market
The polybutadiene market size is expected to grow from USD 10.8 billion in 2019 and to USD 13.8 billion by 2024, at a CAGR of 5.1% during the forecast period. The polybutadiene market is driven by tire, polymer modification, and industrial rubber manufacturing industries. However, the fluctuating raw material prices can hinder the growth of the market.
The solid polybutadiene segment is projected to account for largest market share during the forecast period
Solid polybutadiene accounts for the larger share than liquid polybutadiene rubber, as it is widely in tire manufacturing. The use of solid polybutadiene rubber in other applications such as polymer modification, sporting goods, industrial rubber goods manufacturing, and footwear products is also driving its consumption. The growing demand for improved performance and low rolling-resistance tires is expected to provide growth opportunities for the polybutadiene market.
The high cis segment of solid polybutadiene is expected to hold the largest market share during the forecast period
The high cis segment is projected to be the most-widely used solid polybutadiene rubber type due to its extensive use in diversified end-use industries. This type of polybutadiene largely goes into the production of tires. It is a type of polybutadiene that provides high abrasion and rolling resistance. It is less susceptible to cracking. High cis polybutadiene is, therefore, widely used in tires. It is also used in other industries such as polymer modification and industrial rubber goods.
APAC is expected to record the highest growth rate during the forecast period
APAC is expected to account for the largest value share of the global polybutadiene market in 2019. The market is primarily driven by the strong demand from the automotive industry. China is expected to boost the demand for polybutadiene during the forecast period. The polybutadiene market in North America and Europe is projected to witness moderate growth during the forecast period. This is attributed to the maturity of the major industries consuming polybutadiene in these regions and stringent government regulations regarding its use. The market in the Middle East & Africa, due to its rapidly growing end-use industries such as tires, polymer modification, and industrial rubber goods, is projected to register the second-highest CAGR, in terms of value, between 2019 and 2024.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the polybutadiene market.
- By Company Type - Tier 1: 42%, Tier: 25%, and Tier 3: 33%
- By Designation - C Level: 36%, Managers: 19%, Others: 45%
- By Region – Europe: 42%, North America: 25%, APAC: 17%, South America: 8%, Middle East & Africa: 8%
Key Benefits of Buying the Report:
The major players in the polybutadiene market are ARLANXEO (Netherlands), JSR Corporation (Japan), UBE Industries Ltd. (Japan), SABIC (Saudi Arabia), LG Chem Ltd. (South Korea), Versalis SPA (Italy), PJSC SIBUR Holdings (Russia), Sinopec (China), and Kuraray Co. Ltd. (Japan). are some of the major manufacturers in the polybutadiene market. The study includes in-depth competitive analysis of these key players in the polybutadiene market, with their company profiles, recent developments, and key market strategies.
The report covers the polybutadiene market based on type, application, and region. This study aims at estimating the size and future growth potential of the market across various segmentation types. It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
- The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall polybutadiene market and the sub-segments.
- This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.