The new report by Expert Market Research titled, ‘Global Polybutadiene Market Growth, Size, Share, Price, Trends, Report and Forecast 2021-2026’, gives an in-depth analysis of the global polybutadiene market, assessing the market based on its segments like product, application, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 4.6 billion
- Forecast CAGR (2021-2026): 4.7 %
- Forecast Market Size (2026): USD 6.1 billion
The growth of the global polybutadiene market is driven by the increasing demand from the automobile industry. The rapidly growing population and inflating disposable incomes in emerging economies is driving the growth of automobile sector which in turn is propelling the tyre industry. Additionally, the expanding electronics industry is further boosting the demand for synthetic rubber based electrical insulating material. Moreover, the increased cost effectiveness and easy availability of polybutadiene rubber has further propelled the demand. However, the increasing concern for harmful environmental impact and air pollution of polybutadiene production and shifting trend towards bio-based rubber may hinder the market growth over the forecast period.
Industry Definition and Major Segments
Polybutadiene refers to synthetic rubber obtained by polymerisation of butadiene molecules. It is widely used as a cost-effective substitute of natural rubber. Polybutadiene finds application primarily in tyre industry owing to its resistance to wearing out. Additionally, it is used for making elastic objects, golf ball cores and electric assembly encapsules, among others.
Based on product, the market is divided into:
- High Cis Polybutadiene
- Low Cis Polybutadiene
- High Trans Polybutadiene
- High Vinyl Polybutadiene
On the basis of application, the industry can be segmented into:
- Tyre Manufacturing
- Polymer Modification
- Industrial Rubber Manufacturing
The regional markets for polybutadiene include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Regionally, the Asia Pacific is anticipated to attain a significant share in the global market for polybutadiene. This can be attributed to the rapid increase in population and urbanisation in the region. Additionally, the presence of large-scale automobile manufacturers in countries such as Japan and South Korea is expected to bolster the demand. China is expected to dominate the region owing to the factors such as low labour costs, rising urban population, huge consumer base, and easy availability of raw materials Meanwhile, North America and Middle East and Africa are projected to follow Asia Pacific over the forecast period due to the presence of large petrochemical sector.
Key Market Players
The major players in the market are Lanxess AG, JSR Corporation, UBE Industries, Ltd., Versalis S.P.A., and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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