PUBLISHER: The Business Research Company | PRODUCT CODE: 1387744
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387744
“Polybutadiene (BR) Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on polybutadiene (br) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for polybutadiene (br)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The polybutadiene (br) market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Polybutadiene is a synthetic rubber derived from the polymerization of the monomer 1,3-butadiene. It exhibits abrasion resistance and is commonly utilized, especially in the production of tires, as an additive to enhance the mechanical strength of plastics like polystyrene and acrylonitrile butadiene styrene (ABS). Additionally, Polybutadiene finds application in coating or encapsulating electronic assemblies, providing high electrical resistivity.
The primary product categories for polybutadiene encompass solid polybutadiene and liquid polybutadiene. Liquid polybutadienes (LPBds) represent highly reactive liquid hydrocarbon polymers that are being incorporated into solvent-free or low-solvent coating formulations. The industries served by these applications include the automotive, chemical, industrial, and various other sectors. Sales channels encompass both online and offline, and the industry verticals primarily involve tire manufacturing, automotive, chemical production, industrial rubber manufacturing, and other related sectors.
The polybutadiene market research report is one of a series of new reports from The Business Research Company that provides polybutadiene market statistics, including polybutadiene industry global market size, regional shares, competitors with a polybutadiene market share, detailed polybutadiene market segments, market trends and opportunities, and any further data you may need to thrive in the polybutadiene industry. This polybutadiene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The polybutadiene (br) market size has grown strongly in recent years. It will grow from $21.44 billion in 2023 to $23.57 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth observed during the historical period can be ascribed to the tire manufacturing industry, the production of rubber goods, the manufacturing of adhesives and sealants, and the utilization of impact modifiers.
The polybutadiene (br) market size is expected to see strong growth in the next few years. It will grow to $33.23 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth in the forecast period can be linked to the emergence of green and sustainable materials, the expansion of the automotive industry, innovations within the tire manufacturing sector, and advancements in the production of high-quality rubber goods. Notable trends projected for the forecast period encompass the adoption of bio-based polybutadiene, the use of high cis polybutadiene, the development of customized polymer blends, and the increased utilization of recycled polybutadiene.
The growth of the polybutadiene market has been significantly fueled by the increased utilization of polybutadiene in the high-end tire manufacturing sector. Approximately 70% of the world's polybutadiene production is dedicated to tire manufacturing. Polybutadiene (BR) exhibits various properties after the curing process, including abrasion resistance, poor wet traction, and low rolling resistance due to its low glass transition temperature. It is notably employed in the sidewalls of truck tires to enhance abrasion resistance and reduce wear. Companies like UBE Industries are actively manufacturing BR for premium tire production, characterized by superior physical properties like rebound, tensile strength, heat buildup, and excellent processability in mixing, roll banding, and extrusion.
The growing demand from the automotive industry is poised to be a major driver for the polybutadiene (BR) market in the coming years. The automotive industry encompasses a wide range of activities related to the design, development, production, marketing, and sales of motor vehicles. Polybutadiene (BR) finds extensive use in various automotive applications such as tires, automotive seals, gaskets, vibration dampers, and suspension bushings due to its exceptional versatility, durability, and resilience. In 2022, the global production of motor vehicles reached 85.4 million units, marking a substantial 5.7% increase compared to 2021, as reported by the European Automobile Manufacturers Association. The automotive sector also achieved about 78 million unit sales in 2022, representing a significant 10% increase compared to both 2021 and 2020, according to Brand Finance plc. This surge in demand from the automotive industry is a key driver for the growth of the Polybutadiene (BR) market.
Safety hazards have persistently posed a significant challenge in the polybutadiene industry. Due to its inherent hazards, butadiene is not directly sold to customers but is rather used in polymer and elastomer production. Butadiene is highly volatile and has low water solubility. Prolonged exposure to butadiene can have adverse effects on human health, including damage to the central nervous system, blurred vision, nausea, headache, fatigue, decreased blood pressure, and even coma. The International Agency for Research on Cancer has classified 1,3-Butadiene as a possible carcinogen.
An emerging trend in the polybutadiene rubber market is the production of neodymium polybutadiene (ND-PBR) rubber. ND-PBR is a catalyzed synthetic polybutadiene known for its high elasticity and resistance to dynamic stress at both high and low temperatures. It is widely utilized in the manufacturing of products like tires, conveyor belts, golf balls, footwear, and more. Companies like Lanxess produce neodymium polybutadiene rubber, with an annual production capacity of 0.14 million tons.
Leading companies in the polybutadiene (BR) market are proactively establishing production plants to meet the growing demand for this versatile synthetic rubber. These production facilities play a pivotal role in ensuring a stable supply of polybutadiene to various industries. For instance, Arlanxeo LLC recently inaugurated a 65-kilotonne per annum polybutadiene rubber plant in Brazil in February 2023. This expansion has augmented their overall capacity to 150 ktpa, strengthening their presence in Latin America and catering to the rising demand for PBR in the region, while also contributing to job creation and local economic growth.
In September 2022, Serbia-based oil and gas company Naftna Industrija Srbije (NIS) received approval from the European Commission to acquire HIP-Petrohemija LLC Pancevo (HIPP) for an undisclosed amount. This strategic acquisition aims to modernize production capacities and enhance energy and business efficiency, demonstrating NIS's commitment to expanding and improving the petrochemical and synthetic rubber manufacturing capabilities of HIPP, a Serbian petrochemicals and synthetic rubber manufacturer.
Major companies operating in the polybutadiene (BR) market include LG Chem Ltd., Versalis SPA, China Petroleum & Chemical Corporation, JSR Corporation, Reliance Industries Limited, Lanxess AG, Kumho Petrochemical Co. Ltd., Goodyear Tire & Rubber Company, UBE Industries Ltd., Synthos SA, Evonik Industries AG, LyondelBasell Industries NV, Zeon Corporation, Nizhnekamskneftekhim, Firestone Polymers LLC, SIBUR International GmbH, Arlanxeo, China National Petroleum Corporation, PetroChina Company Limited, Formosa Petrochemical Corporation, Indian Synthetic Rubber Limited, Asahi Kasei Corporation, Sumitomo Chemical Co. Ltd., Saudi Aramco, Saudi Arabia's Basic Industries Corporation, Kuraray Co. Ltd.
Asia-Pacific was the largest region in the polybutadiene (BR) market in 2023. Western Europe was the second-largest region in the global polybutadiene (br) market. The regions covered in the polybutadiene (BR) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the polybutadiene (BR) market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The polybutadiene market consists of the sales of high-cis, medium-cis, and low-cis polybutadiene. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.