Polybutadiene Market Analysis | 2023-2028

Market Insights

The polybutadiene market was estimated at USD 11.1 billion in 2022 and is likely to grow at a CAGR of 5.1% during 2023-2028 to reach USD 15.0 billion in 2028.

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Market Dynamics

Introduction

Polybutadiene is a synthetic rubber. It is the second-largest compound employed in the synthesis of synthetic rubber after styrene butadiene rubber (SBR). Properties such as high resistance, excellent abrasion resistance, high resilience, exceptional rolling resistance as well as low glass transition temperature, which help in better fuel economy, make polybutadiene the ideal choice for the manufacturing of tires. Polybutadienes are of different types, such as solid polybutadiene and liquid polybutadiene, that are used in various end-use industries, such as tires, polymer modification, industrial rubber manufacturing, and chemicals.

Market Drivers

Surge in Production of Electric Vehicles

Polybutadiene is a key component in the production of tires, coatings, adhesives, and sealants used in electric vehicles. The global electric vehicle market is expected to register a CAGR of >45% between 2020 and 2027, creating five million jobs by 2030. California mandates 100% electric vehicles by 2035, while the American Jobs Initiative offers $174 billion in incentives and investments. GM plans to phase out diesel and gasoline-powered cars by 2035, promoting the transition to electric vehicles. This shift will increase demand for these products.

A Flourishing Trend in the Aerospace Sector

The aerospace industry is experiencing a surge in demand for polybutadiene-based tires, coatings, adhesives, and sealants. Boeing predicts China's airlines will buy $1.4 trillion worth of new aircraft and $1.7 trillion worth of commercial aviation services over the next 20 years. The Middle East will require 2,520 airplanes by 2030, while India is expected to drive demand for 2,300 aircraft worth $320 billion. The increasing aerospace industry is expected to drive the polybutadiene market.

Segment Analysis

By Product Type

Based on the product type, the market is segmented into solid polybutadiene and liquid polybutadiene. The solid polybutadiene segment held the largest share of the market in 2022 and is expected to maintain its leading position during the forecast period. The growing demand for improved performance and low-rolling resistance tires is expected to provide higher growth opportunities for this segment.

By Application Type

Based on the application type, the market is segmented into tires, polymer modification, industrial rubber manufacturing, chemicals, and others. The tires segment dominates the market, bolstered by the growing automotive industry. Further, the high demand for tires in the automotive industry and the rise in the production of motor vehicles are propelling the growth of this segment during the forecast period.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for polybutadienes during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, which are generating gargantuan demand for polybutadienes, and the presence of a large number of polybutadiene manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Key Players

Some of the top polybutadiene manufacturers are:

• ARLANXEO
• JSR Corporation
• UBE Industries Ltd.
• SABIC
• LG Chem Ltd.
• Versalis SPA
• PJSC SIBUR Holdings
• Sinopec
• Kuraray Co. Ltd.

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s polybutadiene market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our polybutadiene market report from the industry stakeholders, we have tried to further accentuate our research scope to the polybutadiene market to provide the most crystal-clear picture of the market. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruit available in the market, as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

Market Segmentation

This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The polybutadiene market is segmented into the following categories:

By Product Type

• Solid Polybutadiene
• Liquid Polybutadiene

By Application Type

• Tires
• Polymer Modification
• Industrial Rubber Manufacturing
• Chemicals
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Polybutadiene portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].