According to the new market research report “Polybutadiene Market by Type (Solid Polybutadiene (High Cis, Low Cis, High Trans, High Vinyl), Liquid Polybutadiene), Application (Tires, Polymer modification, Industrial rubber, Chemical), and Region - Global Forecast to 2022”, published by MarketsandMarkets™, the market size of polybutadiene is estimated to grow from USD 6.56 Billion in 2016 to USD 12.71 Billion by 2022, at a CAGR of 5.3% from 2017 to 2022.
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The growth of the market is fueled by the growing demand for polybutadiene from the tire industry owing to its unique properties, such as toughness, good abrasion resistance, cold resistance, high tensile strength, high resilience, tear resistance, and durability. These properties make polybutadiene suitable for various application, including tire, polymer modification, chemical, and industrial rubber manufacturing.
Tire application estimated to lead the polybutadiene market
Polybutadiene are used in various applications, such as tire, polymer modification, chemical, industrial rubber manufacturing, and others. The tire application segment is estimated to lead the polybutadiene market in terms of value as well as volume in 2017. The demand for polybutadiene in the tire industry is primarily driven by its excellent physical properties, such as toughness, good abrasion resistance, cold resistance, high tensile strength, high resilience, tear resistance, and durability.
Solid polybutadiene rubber: the most widely used type of polybutadiene
The solid polybutadiene segment is expected to lead the polybutadiene market. It is primarily used in the automotive industry, especially in the manufacturing of tires. Solid polybutadiene possesses several physical properties, such as high tensile strength as well as excellent abrasion and tear resistance. Solid polybutadiene is divided into high cis, low cis, high vinyl, and high trans. High cis is widely used in tire application as it provides better green strength and high cut growth resistance properties.
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Asia-Pacific: The largest market for polybutadiene
Asia-Pacific is estimated to be the leading market for polybutadiene. Thailand is projected to be the fastest-growing market for polybutadiene during the forecast period while China was the largest market, in terms of both value and volume, in 2016. India, Japan, and South Korea are other countries contributing to the growth of polybutadiene market in this region. The increasing demand for polybutadiene from the end-use industries such as tires, polymer modification, and others is expected to drive the growth of the polybutadiene market in these countries.
The major players in polybutadiene market are JSR Corporation (Japan), LANXESS AG (Germany), Kuraray Co. Ltd. (Japan), UBE Industries Ltd. (Japan), SABIC (Saudi Arabia), LG Chem ltd. (South Korea), Versalis S.p.A. (Italy), Sinopec (China), Reliance Industries Ltd (India), PJSC Sibur Holdings (Russia), Kumho Petrochemical Co. Ltd. (South Korea) and Total Cray Valley (US).
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