Liquid Polybutadiene Market Growth 2022-2030
The liquid polybutadiene market is proliferating pervasively mainly due to the use of this chemical in the tire manufacturing sector, worldwide. Moreover, extensive applications of liquid polybutadiene in various rubber goods other than tires such as conveyor belts, hoses, and gaskets are escalating the market on the global platform.
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Considering the significant traction, the market is garnering currently; Market Research Future (MRFR) in its recently published study report asserts that the global liquid polybutadiene market will garner USD 3,776.5 MN by 2023, registering a CAGR of 4.85% during the forecast period (2018 – 2023). Transportation is a key consumer of liquid polybutadiene that accounts for the significant share of the overall demand for the product.
Liquid polybutadiene also finds its application in the manufacturing of bumpers, side wall of tires, rim cushion, and bead filler among others. Furthermore, it provides excellent electrical insulation and high cold resistance properties by keeping good flexibility at low temperature, which makes it suitable for electrical components manufacturing and as an additive in the plastic production to improve the toughness of plastics.
Additional factors increasing the size of the market include the increasing demand for the product from the transportation the tire manufacturing sector, and the continually rising demand from the automotive industry. Apart from the tire manufacturing industry, industrial rubber is another substantial application of the liquid polybutadiene that is holding 19% of the market share.
On the other hand, factors such as the stringent environmental regulations regarding VOC emissions, and the demand and supply gap of raw materials required for the production of liquid polybutadiene are some of the significant headwinds impeding the growth of the market. Nevertheless, the rapidly quadrupling consumer electronic market will support the growth of the market.
Global Liquid Polybutadiene Market – Segments
For enhanced understanding, the market has been segmented into three key dynamics: -
By Application : Tire Manufacturing, Industrial Rubber, Polymer Modification, Protective Films, Chemicals, Coatings, and Adhesives Sealants among others.
By End-use : Transportation, Construction, and Industrial among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Liquid Polybutadiene Market Regional Analysis
The Asia Pacific region, heading with the presence of a large number of production facilities dominates the global liquid polybutadiene market. The region also accounts for the largest consumer of this chemical due to the rapid industrialization that occurred over the past few years.
Moreover, factors such as the high demand for liquid polybutadiene led by some of the burgeoning industries such as the construction and automotive and the rapidly developing countries such as India, China, Japan, and South Korea are driving the growth of the market.
Furthermore, the increased production from the new market entrants that are investing in developing new products and application areas for liquid polybutadiene will help the market to garner huge gains. The market in the APAC region is projected to grow at the highest CAGR of 5.34% from 2018-2023, reaching USD 1,483.2 MN by the end of 2023.
The liquid polybutadiene market growth in the European region accounts for the second-largest market share, globally. Factors such as the rising renovation and upgradation projects in the construction industry and the presence of a well-established automotive industry drive the growth of market massively. Germany among other European countries accounts for the largest as in 29.70% of the market share in the regional market and is expected to remain dominant market throughout the forecast period owing to higher penetration of end-user industries in the country.
The North America liquid polybutadiene market accounts for another significant market, globally. The US dominates the regional market in terms of value and volume. Rapid industrialization alongside the proliferating end-user sectors such as the transportation and construction foster the growth of the liquid polybutadiene market in the region.
Global Liquid Polybutadiene Market – Competitive Analysis
Highly competitive, the liquid polybutadiene market appears to be fragmented owing to the presence of numerous large and small-scale players. The key strategic initiatives traced from the analysis of recent developments of the key players include product launch, agreement partnership, acquisition, and expansion. Companies are investing in RD activities for innovations and new product development, brand building, fostering strong relationships with their clients to support their competitive position.
Always looking for a competitive edge, manufacturers operating in the liquid polybutadiene market apply the science and technologies to deliver competitive products faster and more efficiently to customers. Manufacturers operating in the market strive to deliver high-quality products based on the innovative technology that can improve the manufacturing processes of a business around the world.
Major Players:
Key players leading the global liquid polybutadiene market include SIBUR International GmbH (Austria), Kuraray Co. Ltd (Japan), Idemitsu Kosan Co., Ltd. (Japan), Evonik Industries AG (Germany), Versalis S.p.A (Italy), Cray Valley (France), and Nippon Soda Co., Ltd (Japan) among others.
Industry/Innovation/Related News:
February 28, 2019 --- Akron Rubber Development Laboratory Inc. (ARDL - the US), a leading global company providing testing, development, and problem-solving services to various facets of the rubber and plastic industries announced its plans to expand its operations by increasing its facilities. Among the wide variety of services ARDL offers is working with custom mixers in various areas.
While the Samples family that owns ARDL also owns custom compounder, Polymerics Inc ARDL is operated independently and works with most of the custom mixers. In such a scenario, the demand for polybutadiene, SBR, natural rubber, and maybe a bit of EPDM and butyl is expected to increase.
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