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The polybutadiene rubber market size is forecast to increase by USD 2.84 billion at a CAGR of 4.5% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand from the automotive industry. This sector accounts for a substantial portion of the market's overall demand, with original equipment shipments being a key driver. The automotive manufacturers' preference for polybutadiene rubber is attributed to its excellent properties, including high resilience, tear strength, and abrasion resistance. Moreover, innovation and product development are crucial trends in the market. For instance, the development of new grades of polybutadiene rubber with enhanced performance characteristics is driving market growth. However, the market faces challenges due to the fluctuation in prices of feedstock, primarily 1,3-butadiene. This volatility can impact the profitability of downstream markets, including the automotive sector. Additionally, economic indicators such as Federal Reserve rates and retail sectors' performance can influence market growth. Overall, the market is poised for steady expansion, driven by its applications in various industries and ongoing research and development efforts.
Polybutadiene rubber (PBR), a synthetic elastomer, plays a significant role in various industries due to its unique properties. This elastomer is derived from butadiene monomer and is known for its resilience, elasticity, abrasion resistance, low temperature resistance, and impact resistance. The synthetic rubber industry's growth is primarily driven by the automotive vehicle manufacturing sector. In the US, PBR is extensively used in tire manufacturing due to its superior performance characteristics. Tires made from PBR offer enhanced fuel efficiency, longer tread life, and improved grip. Moreover, PBR finds extensive applications in Footwear, sports accessories, and other industries.
In footwear, PBR is used for its flexibility, durability, and resistance to wear and tear. In sports accessories, it is used for manufacturing balls, mats, and other equipment due to its excellent elasticity and impact resistance. The chemical sector is another major consumer of PBR. It is used in the production of gaskets, hoses, belts, and other industrial products. PBR's resistance to chemicals and its ability to withstand extreme temperatures make it an ideal choice for these applications. PBR is often compared with other elastomers like nitrile rubber, polychloroprene, and styrene-butadiene rubber (SBR). While each elastomer has its unique properties, PBR stands out due to its superior low temperature flexibility and excellent resistance to abrasion.
Additionally, original equipment shipments (OES) in the US automotive industry are a significant contributor to the demand for PBR. OES manufacturers prefer using PBR in their products due to its superior performance characteristics and cost-effectiveness. The synthetic polymer market, including PBR, is expected to grow at a steady pace in the US due to increasing demand from various end-use industries. The growing automotive industry, expanding footwear and sports accessories market, and the increasing use of PBR in the chemical sector are expected to drive the demand for PBR in the US.
In conclusion, the PBR market in the US is expected to grow due to its extensive applications in various industries, including automotive, footwear, sports accessories, and the chemical sector. Its unique properties, such as resilience, elasticity, abrasion resistance, low temperature resistance, and impact resistance, make it an ideal choice for these applications. The steady growth of industries using PBR is expected to drive the demand for this elastomer in the US market.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The tires segment is estimated to witness significant growth during the forecast period.The market in the tire segment is experiencing significant growth due to the increasing demand for automobiles and the expanding production volume in the global automotive industry. Approximately 70% of polybutadiene rubber is utilized in the production of tire treads and sidewalls. This is attributed to its unique properties, including high abrasion resistance and low rolling resistance, which are essential for tire performance.
To enhance tire traction in wet conditions, polybutadiene rubber is typically combined with natural rubber and styrene-butadiene rubber (SBR) for tread compounds. The automotive sector is a major downstream market for polybutadiene rubber, as it is a crucial feedstock for tire manufacturing. Economic indicators, such as Federal Reserve rates and automotive premium tyre trends, can influence the demand for automobiles and, consequently, the consumption of polybutadiene rubber in the tire industry.
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The tires segment accounted for USD 7.39 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 58% 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.
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Polybutadiene rubber is a versatile elastomer widely used in various industries due to its superior properties such as low temperature resistance and high impact strength. In 2023, APAC emerged as the largest consumer of polybutadiene rubber, driven by its extensive use in end-use sectors like automotive and construction. The automotive industry is a significant consumer, with polybutadiene rubber being the primary raw material for manufacturing tires, rubber compounding, elastomers, and synthetic fibers for automobiles. It often serves as a substitute for metal components. In the construction sector, polybutadiene rubber is utilized in the production of gaskets, hoses, and belts due to its excellent chemical resistance.
Additionally, the presence of major automotive manufacturers in countries like China, India, Japan, and South Korea will continue to fuel the demand for polybutadiene rubber in these industries. This trend is expected to persist during the forecast period. Polybutadiene rubber's unique properties make it an indispensable component in numerous applications, particularly in the EPDM rubber market. This material's use extends beyond the automotive and construction sectors, with applications in various industries such as healthcare, electrical, and electronics. In summary, The market is poised for significant growth, with APAC leading the charge due to its extensive use in the automotive and construction industries.
Our researchers analyzed the data with 2023 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.
The increasing demand from automotive industry is the key driver of the market. Polybutadiene rubber plays a significant role in various industries, with the automotive sector being its largest consumer. In the United States, this market segment accounts for a substantial share of the overall consumption. The primary application of polybutadiene rubber in the automotive industry is in the production of tires for automobiles. The elastomer's desirable properties, including high resilience, superior abrasion resistance, and increased cut growth resistance, make it an ideal choice for tire manufacturing. Approximately 70% of the polybutadiene rubber produced is utilized in tire production, specifically for treads and sidewalls. The volatility in the pricing of natural rubber has led tire manufacturers to explore synthetic rubber alternatives, with polybutadiene rubber being one of the most cost-effective options.
Additionally, beyond the automotive sector, polybutadiene rubber also finds extensive use in the production of building goods, such as roofing materials, sealants, and adhesives. Its excellent resistance to freezing temperatures makes it a preferred choice for these applications. Furthermore, its low rolling resistance contributes to reduced fuel consumption, making it an eco-friendly option for various industries. With its versatility and cost-effectiveness, polybutadiene rubber is a valuable resource in the US manufacturing sector.
Innovation and product development are the upcoming trends in the market. The synthetic rubber industry is witnessing a notable shift towards high-cis polybutadiene, a type of butadiene-based rubber, due to its superior properties. This elastic and highly abrasion-resistant material is gaining traction in various industries, including tires manufacturing, footwear, and sports accessories. In tire production, high-cis polybutadiene is a preferred choice due to its ability to enhance tire performance by improving traction, reducing rolling resistance, and boosting fuel efficiency. Beyond tire manufacturing, high-cis polybutadiene is also utilized in the production of tires for heavy-duty vehicles such as trucks and buses, as well as specialized tires for construction and mining operations.
Additionally, the increasing focus on sustainability and eco-friendly practices is driving the demand for high-performance tires that offer both superior functionality and environmental benefits. As a result, manufacturers are investing heavily in research and development to create innovative high-cis polybutadiene rubber formulations that cater to the evolving needs of the tire manufacturing industry. The potential applications of this versatile material extend beyond tires, making it a valuable asset in the broader synthetic rubber industry.
Fluctuation in prices of raw materials is a key challenge affecting the market growth. The production of polybutadiene rubber (BR), a polymer derived from the monomer 1,3-butadiene, is influenced by the price fluctuations of the raw material. Butadiene, which is the sole feedstock for the synthesis of BR, is obtained as a byproduct during the ethylene steam cracking of gas oil or naphtha. The recent growth in the price of butadiene, which has risen significantly over the past three years, can be attributed to the closure of several production plants in Asia. This scarcity of butadiene has resulted in increased costs for manufacturers of polybutadiene rubber. From an environmental standpoint, the production of BR contributes to CO2 emissions.
However, high-cis polybutadiene rubber, a type of BR, is widely used in the manufacturing of automotive tyres due to its superior properties. Medium-cis and low-cis polybutadiene rubbers are employed in various applications, including conveyor belts and cables & pipes. The environmental impact of BR production is a concern, and efforts are being made to reduce its carbon footprint through the use of renewable feedstocks and more energy-efficient production processes.
In conclusion, the price volatility of butadiene, the primary raw material for BR production, poses a challenge to the industry. The environmental impact of BR manufacturing is another critical issue that requires attention. Despite these challenges, the demand for BR remains strong due to its versatile applications in various industries.
The market forecasting 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 market growth analysis strategies.
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.
China National Petroleum Corp. - The company offers chemical products widely used in automobiles, buildings, electronics like synthetic rubber butadiene styrene rubber, cis-polybutadiene rubber.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key 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 synthetic rubber industry is a significant contributor to the global manufacturing sector, with polybutadiene rubber being one of its essential components. Butadiene, derived from the refining of crude oil, is a primary feedstock used in the production of polybutadiene rubber. This elastomer is widely used in various downstream markets, including the automotive sector, tire manufacturing, footwear, sports accessories, and the chemical sector. Polybutadiene rubber is known for its superior resilience, elasticity, abrasion resistance, low temperature resistance, impact resistance, and hardness. These properties make it an ideal choice for automotive tyres, conveyor belts, gaskets, hoses, belts, and other automobile components.
In the tire sector, high-cis polybutadiene rubber is used for enhancing rolling resistance, fuel consumption, and CO2 emissions, while medium-cis and low-cis polybutadiene rubbers are used for improving the elasticity and hardness of tires. The automotive sector, along with the Sports equipment are significant consumer of polybutadiene rubber, with original equipment shipments being the primary driver of demand. However, the elastomer also finds extensive applications in the construction industry, particularly in roofing materials, sealants, and adhesives. The retail sectors, including automobile and building goods, also contribute significantly to the consumption of polybutadiene rubber.
In conclusion, economic indicators, such as federal reserve rates and retail sales, significantly impact the demand for polybutadiene rubber. The automotive tyre sector is particularly sensitive to these indicators, as changes in fuel prices and consumer sentiment can influence tire sales. Additionally, the environmental impact of polybutadiene rubber production and usage is a growing concern, with efforts being made to reduce the vinyl content and improve the sustainability of the manufacturing process.
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Market Scope |
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Report Coverage |
Details |
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Page number |
146 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
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Market growth 2024-2028 |
USD 2.84 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.23 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 58% |
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Key countries |
China, US, Japan, South Korea, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ARLANXEO, China National Petroleum Corp., China Petrochemical Corp., Eni S.p.A, Evonik Industries AG, JSR Corp., Kumho Petrochemical Co. Ltd., KURARAY Co. Ltd., Lanxess AG, LG Chem Ltd., Nippon Soda Co. Ltd., Qingdao ECHEMI Digital Technology Co. Ltd., Reliance Industries Ltd., Saudi Basic Industries Corp., SIBUR International GmbH, Synthomer Plc, Synthos SA, The Goodyear Tire Rubber Co., and Ube Corp. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market 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 in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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