The global Polybutadiene Market size is expected to value at USD 5.83 billion by 2025. The market is subject to witness a substantial growth due to the increasing demand for synthetic rubber in automotive industry for tire manufacturing. The rise in demand for polybutadiene, as a low-cost solution with superior properties, thus replacing natural rubber, is expected to fuel the growth of the market. Some of the important properties of polybutadiene such as high abrasion resistance and high green strength makes it ideal choice for manufacturing of tires. Globally, the polybutadiene market is predicted to grow at a CAGR of 4.6% in forecast period, providing numerous opportunities for market players to invest in research and development in the market.
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The polybutadiene is also widely used in polystyrene and acrylonitrile butadiene styrene (ABS) as an additive in order to enhance the toughness and green strength of the material. Other application of the polybutadiene includes golf balls and children’s toys. These factors are responsible of the growth of polybutadiene industry, in the recent years. The increasing demand for operational polybutadienes that are largely utilized in the manufacturing of automobile and construction adhesives are predicted to boost market growth over the forecast period.
Increase in the number of automotive and construction manufactures have completely incorporated petrochemical companies that are a present across the entire supply chain. Petrochemical industries produce raw materials required for various industrial application, while monomers of theses raw material are used in production of polybutadiene. Thus, manufacturing of polybutadiene is considered as cost-effective process with a continuous supply of raw materials.
Polybutadiene manufacturers have also started producing polymers, polyesters and elastomers along with production of petroleum products. Such factors are largely influencing market performance in the last couple of years. Polybutadiene production units utilizes butadiene in large amount. However, fluctuations in the cost of butadiene due to ever-changing cost of crude oil prices coupled with economic instability across the world are predicted to hamper the growth of polybutadiene industry, during this period; thereby affecting demand of the polybutadiene worldwide.
Additionally, numerous governmental initiatives and regulation regarding environmental hazards of waste materials during the production of polybutadiene is negatively hampering the market growth. Other factors obstructing the growth of polybutadiene market are health consciousness among general population and sustainability. Rise in air pollution is largely affecting environment and living beings. Numerous governmental laws and regulations to curb air pollution are expected reduce rate manufacturing of polybutadiene, in the years to come. Furthermore, manufacturers are largely shifting towards adoption of bio-based butadiene, thus replacing use of petroleum based products.
The polybutadiene is majorly categorized by four types based on the percentage of raw materials and their composition, such as high cis, low cis, high trans and high vinyl polybutadiene. Growing popularity of high cis derivative is attributed to high green strength and growth resistance. Polybutadiene is considered as a type of a synthetic rubber. Polybutadiene rubber is manufactured by performing polymerization of the monomer 1-butadene and 2-butadiene.
Properties such as a high resistance to wear is vital for manufacturing of tires. Around seventy percent of polybutadiene is utilized for the production tires across the globe. While, remaining twenty-five percent is utilized as an additive to improve the toughness and impact resistance of plastics like polystyrene and acrylonitrile butadiene styrene (ABS).
The polybutadiene industry is divided by region such as North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. North America has shown major growth in recent years owing to the presence of numerous petrochemical industries and existence of well-established automobile sector. Asia-Pacific region is predicted to hold major market share in the polybutadiene market with massive growth in forecast period.
Countries such as India, China and Japan are leading the Asia-Pacific market with presence of large-scale automotive manufactures, increase in the number of new cracker facilities, and substantial investment by leading industry players considering potential opportunities in the region. The key players in the polybutadiene industry are JSR Co., Reliance Industries Limited, Lanxess, Synthos S.A., LyondelBasell Industries, Trinseo S.A., Evonik Industries AG, Ube Industries Ltd., and Nippon Soda Corporations.
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Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• High cis polybutadiene
• Low cis polybutadiene
• High trans polybutadiene
• High vinyl polybutadiene
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Tire Manufacturing
• Polymer Modification
• Industrial Rubber Manufacturing
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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