DUBLIN--(BUSINESS WIRE)--The "Polybutadiene Market by Type (Solid Polybutadiene (High Cis, Low Cis, High Trans, High Vinyl), Liquid Polybutadiene), Application (Tires, Polymer modification, Industrial rubber, Chemical), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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 market size for polybutadiene is expected to be 3,872 kilotons in 2019 and is projected to reach 4,854 kilotons by 2024, at a CAGR of 4.6% between 2019 and 2024.
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 an in-depth competitive analysis of these key players in the polybutadiene market, with their company profiles, recent developments, and key market strategies.
Increasing demand for tire from the automobile industry is expected to drive the overall polybutadiene market
The polybutadiene market is driven by tire, polymer modification, and industrial rubber manufacturing industries. However, fluctuating raw material prices can hinder the growth of the market.
The solid polybutadiene segment is projected to account for the 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.
Market Dynamics
Drivers
- Growth of the Tire Industry
- Growth in Synthetic Rubber Industry
Restraints
- Stringent Environmental Regulations
- Health Concerns Regarding Exposure to Polybutadiene
Opportunities
- Rapidly Increasing Demand from APAC
- Demand for Eco-Friendly Tires
Challenges
- Fluctuation in Raw Material Prices
Key Player Profiles
- ARALNXEO
- JSR Corporation
- UBE Industries Ltd.
- Kumho Petrochemical Co. Ltd.
- The Goodyear Tire & Rubber Company
- Saudi Arabia Basic Industries Corporation (SABIC)
- Reliance Industries Limited
- LG Chem Ltd.
- Versalis S.p.A
- PJSC SIBUR Holding
- China Petroleum & Chemical Corporation (Sinopec)
- Kuraray Co. Ltd.
- Synthos S.A.
Other Prominent Players
- Trinseo S.A.
- Total Cray Valley
- Zeon Corporation
- Evonik Industries AG
- Taiwan Synthetic Rubber Corporation (TSRC)
- Nippon Soda Co. Ltd.
- Firestone Polymers LLC
- Mitsubishi Corporation
- Shazand Petrochemical Corporation (ARPC)
- Petrochina Company Ltd.
- Nizhnekamskneftekhim
For more information about this report visit https://www.researchandmarkets.com/r/8phvyc
