LONDON--(BUSINESS WIRE)--According to Technavio Research Report "Liquid Polybutadiene Market by end-user (transportation, construction, industrial manufacturing, and others), and geographic regions (North America, APAC, Europe, South America, and MEA) is witnessed to grow USD 820.81 million, at a CAGR of 5% from 2019 to 2023.
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Global liquid polybutadiene market: Rise in production capacity of polybutadiene
With the growing demand for rubber in various applications, including tire manufacture and rubber compounding, many polybutadiene manufacturers have been focusing on increasing their production capacities. Some manufacturers have made investments aimed at enhancing polybutadiene rubber production efficiency. The liquid polybutadiene market research report elaborates on the various investments made by several companies and the measures undertaken to enhance production capacity. Overall, the increase in polybutadiene rubber production will have a significant impact on the growth of the global liquid polybutadiene market during the forecast period.
“Apart from the rise in production capacity of polybutadiene, other factors such as the growing popularity of bio-adhesives, and the increasing use of bio-based materials in tire manufacture will have a significant impact on the growth of the liquid polybutadiene market size during the forecast period,” says a senior analyst at Technavio.
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Global liquid polybutadiene market: Segmentation analysis
This market research report segments the global liquid polybutadiene market by end-user (transportation, construction, industrial manufacturing, and others), and geographic regions (North America, APAC, Europe, South America, and MEA).
The APAC region led the liquid polybutadiene market in 2018, followed by Europe, North America, MEA, and South America respectively. The growth of the liquid polybutadiene market in APAC can be attributed to the growth of end-user industries such as automotive, and construction. The demand for liquid polybutadiene is primarily driven by the presence of leading automotive manufacturers in countries such as India, China, Japan, and South Korea.
Global liquid polybutadiene market: Increasing demand for liquid polybutadiene in tire applications
Liquid polybutadiene is mainly used in the automotive industry to manufacture tires, as it helps control the grip and increase fuel efficiency. It provides superior performance, exhibits high resistance to wear and tear, and has a longer shelf life than normal rubber. Therefore, the rising sales of automobiles across the world, and the increasing demand for fuel efficiency and durability in commercial vehicles, will boost the adoption of liquid polybutadiene-based tires during the forecast period, thereby fueling market growth.
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