Enjoy complimentary customisation on priority with our Enterprise License!
The liquid polybutadiene market size is estimated to grow at a CAGR of 4.98% between 2022 and 2027. The market size is forecast to increase by USD 980.7 million. The growth of the market depends on several factors such as the increasing demand for liquid polybutadiene in tire applications, the demand-supply gap in natural rubber and the growing demand for liquid polybutadiene in the construction industry.
This liquid polybutadiene market report extensively covers market segmentation by application (rubber manufacturing, adhesive and sealants, coating formulation, polymer modification, and others), end-user (automotive and transportation, construction industry, industrial manufacturing, and others) and geography APAC, North America, Europe, South America, and Middle East and Africa. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, View Report Sample
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for liquid polybutadiene in tire applications is notably driving market growth. Liquid polybutadiene is mainly used in manufacturing tires in the automotive industry. It is a synthetic rubber that is manufactured from the polymerization of the monomer 1,3-butadiene.
However, in the automotive industry, liquid polybutadiene is used in tire manufacturing due to its properties, such as the ability to increase fuel efficiency, control the balance of grip, higher resistance to wear and tear, superior performance, and long shelf life. Therefore, the demand for liquid polybutadiene will increase with the growth of the automotive industry. The demand for automobiles is growing, and the demand for polybutadiene-based tires will increase. These factors are anticipated to fuel the growth of the liquid polybutadiene market during the forecast period.
The rise in production capacity for polybutadiene is an emerging trend shaping market growth. The growing demand for synthetic rubber will have a direct favourable impact on market growth. Due to the high demand for rubber in applications such as tire manufacturing and rubber compounding, many companies have been increasing their production capacities for polybutadiene which will have a positive impact on the liquid polybutadiene (LPBD) market growth.
In addition, globally, liquid polybutadiene manufacturing companies, such as SIBUR International, are planning to develop their production capacities to balance the demand for liquid polybutadiene. For instance, SIBUR International launched an investment project aimed at improving its polybutadiene rubber production efficiency at its Voronezh facility and the company had decided to augment the capacity from 13,000 metric tons per year to 48,000 metric tons per year. Also, Saipem, leading a consortium with Egypt-based Petrojet, has been awarded a contract worth USD 150 million by Egyptian Ethylene and Derivatives Co. (Ethydco) for the first polybutadiene-producing facility in Egypt, with a projected production capacity of 36,000 metric tons per year. Thus, growing polybutadiene production is anticipated to improve the growth of the liquid polybutadiene market during the forecast period.
Stringent regulations and policies on chemicals are significant challenges hindering market growth. The stringent policies from regulatory agencies such as the Environmental Protection Agency (EPA) and Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) on the volatile organic compound (VOC) content of adhesives and sealants are expected to restrain the growth of the market growth.
However, various acts and norms formulated by the EPA and REACH are to be compliant with the US Environment Protection Act. such norms play a vital role in the banning of certain chemicals for the betterment of the ecosystem. The emission of hazardous VOCs has also become a major concern for the US EPA. The Massachusetts Department of Environmental Protection (MassDEP) declared adhesives and sealants regulations. Regulation 310 CMR 7.18(30) restricts the use of VOCs in industrial and commercial sealants, sealant primers, adhesives, adhesive primers, and associated surface construction and clean-up solvents. Therefore, such factors are expected to hinder the growth of the global liquid polybutadiene market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Liquid Polybutadiene Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Eni SpA - The company offers liquid polybutadiene such as SBS copolymers.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The rubber manufacturing segment will account for a major share of the market's growth during the forecast period. The liquid polybutadiene market finds several applications in the rubber manufacturing industry due to its unique characteristics and properties.
Get a glance at the market contribution of various segments View the PDF Sample
The rubber manufacturing segment was valued at USD 1,320.53 million in 2017 and continued to grow until 2021. Liquid polybutadiene is a type of synthetic rubber with a high degree of elasticity and excellent abrasion resistance, making it suitable for a range of rubber products. It shows incredible resilience and elasticity, which is important for applications like tire manufacturing and sports equipment. Its capacity to rebound after deformation improves the functions and durability of rubber products. Due to its relatively lower production costs compared to some other synthetic rubbers, liquid polybutadiene offers a cost-effective solution for producing rubber components. Furthermore, its capacity to perform well over a wide temperature range makes it suitable for various functions across rubber manufacturing industries. Such factors are expected to boost the growth of the rubber manufacturing segment of the liquid polybutadiene market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 52% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. this region has a large consumer base and the availability of raw materials and low-cost labor. In APAC, the liquid polybutadiene market is primarily driven by the use of liquid polybutadiene in end-user industries such as automotive and construction. It is the primary raw material used to manufacture tires, rubber compounding, elastomers, and synthetic fibers that are used in automotive. Furthermore, interest in vehicles that offer alternative fuel options has increased due to the rise in environmental awareness among consumers and climate change concerns. For instance, Thailand has started to channel its efforts into targeting foreign investors that seek an increase in the adoption of eco-friendly automobiles. Therefore, the increase in automotive production across China, India, Japan, and various other countries is expected to drive the demand for liquid polybutadiene during the forecast period.
The outbreak of the COVID-19 pandemic adversely impacted the liquid polybutadiene market in APAC. End-user industries, such as automotive, construction, and manufacturing, experienced downturns during the pandemic, which negatively influenced the overall demand for liquid polybutadiene. Including the transportation and distribution of raw materials needed to manufacture liquid polybutadiene, interest in vehicles that offer alternative fuel options has increased. Nevertheless, the number of COVID-19 cases declined due to the large-scale vaccination drives conducted by the governments in the region, which led to the lifting of the lockdowns imposed to contain the spread of the disease. APAC countries are increasingly emphasizing on sustainability as liquid polybutadiene is used in a variety of applications, as it is environment-friendly in such industrial applications. Therefore such factors are anticipated to fuel the growth of the regional liquid polybutadiene market during the forecast period.
The liquid polybutadiene market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Liquid Polybutadiene Market Scope |
|
Report Coverage |
Details |
Page number |
184 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.98% |
Market growth 2023-2027 |
USD 980.7 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.24 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 52% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
China Petrochemical Corp., Comar Chemie AG, Eni SpA, Evonik Industries AG, Idemitsu Kosan Co. Ltd., JSR Corp., Kumho Petrochemical Co. Ltd., KURARAY Co. Ltd., Lanxess AG, LG Electronics Inc., Lotte Chemical Titan Holding Bhd, Nippon Soda Co. Ltd., Reliance Industries Ltd., Saudi Arabian Oil Company, Saudi Basic Industries Corp., SIBUR International GmbH, Taprath Elastomers LLP, TotalEnergies SE, Ube Corp., and Synthomer Plc |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.