The Polybutadiene Market is expected to promise high growth owing to the increasing demand due to better properties and the performance of products on the application in recent years. Increasing demand from applications including Tires, Industrial Rubber, Polymer Modification, Chemical, and Others is expected to drive the growth of the market.
Polybutadiene is referred to as synthetic rubbers that are also termed as polybutadiene rubbers which are primarily used in the manufacturing of synthetic tires. Polybutadiene rubbers are the largest used compounds in tires industries and have the maximum market share throughout the world. Its properties include exceptional rolling resistance, high resistance, high resilience, excellent abrasive resistance, etc.
The key drivers for the growth of the global polybutadiene market are its excellent properties that enhance the properties of various products such as tires and polymers due to which its application is being adopted into various industrial applications. The growth of industries, the availability of cheap labor and the growth of economies have ultimately led to the growth of the global polybutadiene Market.
Some of the key Impact Factors:
- Growing economies and industries
- Availability of cheap labor and raw materials
- Better properties and performance of products on the application
On the basis of the region, the Polybutadiene market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe are some of the major markets that are also traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major companies in this market are headquartered in North America and Western Europe. This region has been witnessing a number of transitions in terms of productions of chemicals and respective applications by end-use industries. The preference towards bio-based feedstock has been instrumental in the development of the green alternatives in these regions. Moreover, regulatory authorities have imposed strict guidelines with regard to environmental concerns and potential health hazards due to exposures. This has been more instrumental in the Western Europe region competitively. Some of the major economies in these regions include the US, Germany, UK, France, Canada, Italy, Spain, and so on.
The Asia Pacific and the Middle East are expected to register substantial growth in Polybutadiene market during the forecast period. This demand is with regard to the growth of major applications such as tires, industrial rubber, polymer modification, chemical, and others. Major countries in the Asia Pacific region include China, South Korea, Japan, India, Australia, and so on. Middle East includes the UAE, Saudi Arabia, Iran, Israel, Egypt, and so on. Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region. Rest the World that includes South America and Africa has a strong potential for polybutadiene market. There has been an increasing number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for the polybutadiene market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.
Companies Covered: Kumho Petrochemical Co. Ltd., SIBUR, JSR Corporation, LANXESS AG, Kuraray Co. Ltd., UBE Industries Ltd., SABIC, LG Chem ltd., Sinopec