Report ID: 10070762 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Polybutadiene Market Highlights Over 2022 - 2031
The global polybutadiene market is estimated to garner around USD 17 billion in revenue by 2031 by growing at a CAGR of nearly 5% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to increasing demand for cheap substitutes of natural rubber. In 2020, polybutadiene production volume was nearly 4 million metric tons globally, and is estimated to grow to nearly 5 million metric tons by 2026. Further, rising trend of low rolling resistance and enhanced performance tires, and high requirement of tires in the automotive market are also expected to drive the market growth. It is estimated that, in 2021, global car sales were over 65 million automobiles.
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Additionally, major applications of polybutadiene in tires, chemicals, polymer modification, and industrial rubber goods, and rising tire and synthetic rubber industry are further expected to boost the market growth. For instance, the global synthetic rubber market is estimated to garner around USD 60 billion in revenue by 2031.
The COVID-19 pandemic had a negative impact on the polybutadiene market owing to the halt in the production of automobiles due to the lockdown. Many production units and several end-user industries that produce rubber goods such as tires, conveyor belts, hoses, and gaskets stopped functioning during the pandemic, thereby reducing the demand for polybutadiene.
However, constant fluctuations in the prices of polybutadiene due to the volatility of petroleum prices, air pollution caused due to the production of polybutadiene, and strict environmental regulations are the key factors restraining the growth of the market.
The market is segmented by application into tires, polymer modification, industrial rubber, and chemical. Among these segments, the tires segment is anticipated to hold the major share over the forecast period. The growth can be attributed to polybutadiene’s effect on tires, such as toughness, good abrasion resistance, cold resistance, high tensile strength, high resilience, tear resistance, and durability.
Global Polybutadiene Market Regional Synopsis
Regionally, the global polybutadiene market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness significant growth over the forecast period owing to high demand from the automotive industry over rising automobile demand on the back of increasing disposable income, a huge consumer base, rising urban population, and low labor costs. It is estimated that over 30 million passenger cars were sold in the Asia Pacific region in 2020. Further, in 2021, China produced over 20 million passenger cars. Additionally, the easy availability of raw materials is attracting global automobile manufacturers to shift their production facilities to the region, which is also a major factor predicted to boost the demand for polybutadiene in the upcoming years.
On the other hand, the North America region is expected to hold the major share over the forecast period on the back of the presence of major petrochemical companies, rise in the downstream industry, and the presence of major tire manufacturers. For instance, by 2027, petrochemical production in the United States is estimated to be nearly 100 million metric tons.
Market Segmentation
Our in-depth analysis of the global polybutadiene market includes the following segments:
By Type
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Solid Polybutadiene
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High Cis
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Low Cis
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High Trans
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High Vinyl
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Liquid Polybutadiene
By Application
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Tires
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Polymer modification
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Industrial rubber
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Chemical
Growth Drivers and Challenges Impacting the Growth of the Global Polybutadiene Market
Growth Drivers
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Increasing demand for cheap substitutes of natural rubber
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Rising trend of low rolling resistance and enhanced performance tires
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High requirement of tires in the automotive market
Challenges
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Constant fluctuations in the prices of polybutadiene
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Air pollution caused due to the production of polybutadiene
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Strict environmental regulations
Key Companies Dominating the Global Polybutadiene Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global polybutadiene market that are included in our report are ARLANXEO, JSR Corporation, UBE Corporation, SABIC, LG Chem, SIBUR, China Petrochemical Corporation, KURARAY CO., LTD., ZEON CORPORATION, Kemicalinfo, and others.
Latest Developments in the Global Polybutadiene Market:
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February 2019: SIBUR launched an investment project enhancing polybutadiene rubber (Nd-BR) production efficiency at its Voronezh facility, to boost operational efficiency of the existing facility and ensure a consistently high quality of the manufactured goods.
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March 2022: The Board of Indian Oil Corporation approved a huge amount of investment for Poly-Butadiene Rubber (PBR) Project at Indian Oil's Naphtha Cracker Complex at Panipat, Haryana.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
Frequently Asked Question
The market is segmented by type, application, and by region.
The tires segment is anticipated to hold largest market size in value and display significant growth opportunities.
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Report ID: 10070762 |
Published Date: 21 Mar 2025 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
