Polybutadiene Market worth 12.71 Billion USD by 2022
Posted by Robin White on June 11th, 2019
Polybutadiene is being adopted across various applications, such as tire, polymer modification, chemical, industrial rubber manufacturing, and others. The growth of the polybutadiene market is expected to be fueled by the rising demand from various applications and growth of the end-use industries.
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This report estimates the market size for polybutadiene and segments the market based on type, application, and region, in terms of value and volume. The polybutadiene market is projected to grow at a CAGR of 5.3% between 2017 and 2022, in terms of value. The rising adoption of polybutadiene in various applications, due to its high tensile strength and good abrasion resistance properties, is projected to boost the growth of the market in the coming years.
Regions, such as Europe and North America, are relatively mature markets for polybutadiene as compared to Asia Pacific, Middle East & Africa, and South America. Asia Pacific is projected to be the fastest-growing market between 2017 and 2022. The market in this region is expected to witness increase in the demand for polybutadiene from automotive and industrial rubber manufacturing industries. In Asia Pacific, China is the largest market, in terms of both value and volume, and Thailand is projected to witness the highest growth during the forecast period, in terms of both value and volume.
Based on application, the tire segment is projected to witness the highest growth between 2017 and 2022. This segment is also the largest. The high growth of this segment is expected to be driven by the increasing use of polybutadiene in tire applications, due to its properties such as toughness, good abrasion resistance, cold resistance, high tensile strength, high resilience, tear resistance, and durability.
The solid polybutadiene rubber type segment dominated the polybutadiene market, in terms of volume, in 2016. This can be attributed to the low price and easy availability of solid polybutadiene. Solid polybutadiene is further divided into high cis, low cis, high trans, and high vinyl polybutadiene. High cis is extensively used in the automotive industry, due to its properties such as toughness, high abrasion resistance, high rolling resistance, and less susceptibility to cracking. The high cis content in polybutadiene also provides better green strength and high cut growth resistance. Thus, the demand for eco-friendly or green tires will increase the growth opportunities for the polybutadiene market. For instance, manufacturers such as LANXESS AG provide products that are used in green tires manufacturing such as Nd-PBR.
