Polybutadiene Market Analysis | 2023-2028

Market Insights

Polybutadiene market size was valued at USD 11.12 billion in 2022 and is forecast to grow to USD 15.09 billion by 2028 at a CAGR of 5.09% during 2023-2028.

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What is polybutadiene?

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 Dynamics

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.

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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.

Segment Analysis

Polybutadiene Market Share: By Product Type

Based on the product type, the market is segmented as solid polybutadiene and liquid polybutadiene. The solid polybutadiene segment held the larger 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 resistant tires is expected to provide higher growth opportunities for this segment.

Polybutadiene Market Share: By Application Type

Based on the application type, the market is segmented as 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.

Polybutadiene Market Share: By Region

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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Research Methodology

This polybutadiene market report offers high-quality insights and results from 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 1,000 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 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides intelligence most comprehensively. The polybutadiene market report structure has been kept such that it offers maximum business value. It provides critical insights into the dynamics and will enable strategic decision-making for the existing players and those willing to enter the market.

What Deliverables will you get in this report?

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 sales@stratviewresearch.com.