27th September 2019 – The global Polybutadiene
Market size is expected to value at USD 5.83 billion by 2025. The
market is subject to witness a substantial growth due to the increasing demand
for synthetic rubber in automotive industry for tire manufacturing. The rise in
demand for polybutadiene, as a low-cost solution with superior properties, thus
replacing natural rubber, is expected to fuel the growth of the market. Some of
the important properties of polybutadiene such as high abrasion resistance and
high green strength makes it ideal choice for manufacturing of tires. Globally,
the polybutadiene market is predicted to grow at a CAGR of 4.6% in forecast
period, providing numerous opportunities for market players to invest in
research and development in the market.
The polybutadiene is also widely used in
polystyrene and acrylonitrile butadiene styrene (ABS) as an additive in order to
enhance the toughness and green strength of the material. Other application of
the polybutadiene includes golf balls and children’s toys. These factors are
responsible of the growth of polybutadiene industry, in the recent years. The
increasing demand for operational polybutadienes that are largely utilized in
the manufacturing of automobile and construction adhesives are predicted to
boost market growth over the forecast period.
Increase in the number of automotive and
construction manufactures have completely incorporated petrochemical companies
that are a present across the entire supply chain. Petrochemical industries
produce raw materials required for various industrial application, while
monomers of theses raw material are used in production of polybutadiene. Thus,
manufacturing of polybutadiene is considered as cost-effective process with a
continuous supply of raw materials.
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Polybutadiene manufacturers have also
started producing polymers, polyesters and elastomers along with production of
petroleum products. Such factors are largely influencing market performance in
the last couple of years. Polybutadiene production units utilizes butadiene in
large amount. However, fluctuations in the cost of butadiene due to
ever-changing cost of crude oil prices coupled with economic instability across
the world are predicted to hamper the growth of polybutadiene industry, during
this period; thereby affecting demand of the polybutadiene worldwide.
Additionally, numerous governmental
initiatives and regulation regarding environmental hazards of waste materials
during the production of polybutadiene is negatively hampering the market
growth. Other factors obstructing the growth of polybutadiene market are health
consciousness among general population and sustainability. Rise in air
pollution is largely affecting environment and living beings. Numerous
governmental laws and regulations to curb air pollution are expected reduce
rate manufacturing of polybutadiene, in the years to come. Furthermore,
manufacturers are largely shifting towards adoption of bio-based butadiene,
thus replacing use of petroleum based products.
The polybutadiene is majorly categorized
by four types based on the percentage of raw materials and their composition,
such as high cis, low cis, high trans and high vinyl polybutadiene. Growing
popularity of high cis derivative is attributed to high green strength and
growth resistance. Polybutadiene is considered as a type of a synthetic rubber.
Polybutadiene rubber is manufactured by performing polymerization of the
monomer 1-butadene and 2-butadiene.
Properties such as a high resistance to
wear is vital for manufacturing of tires. Around seventy percent of
polybutadiene is utilized for the production tires across the globe. While,
remaining twenty-five percent is utilized as an additive to improve the
toughness and impact resistance of plastics like polystyrene and acrylonitrile
butadiene styrene (ABS).
The polybutadiene industry is divided by
region such as North America, Europe, Asia-Pacific, Latin America, Middle East,
and Africa. North America has shown major growth in recent years owing to the
presence of numerous petrochemical industries and existence of well-established
automobile sector. Asia-Pacific region is predicted to hold major market share
in the polybutadiene market with massive growth in forecast period.
Countries such as India, China and Japan
are leading the Asia-Pacific market with presence of large-scale automotive
manufactures, increase in the number of new cracker facilities, and substantial
investment by leading industry players considering potential opportunities in
the region. The key players in the polybutadiene industry are JSR Co., Reliance
Industries Limited, Lanxess, Synthos S.A., LyondelBasell Industries, Trinseo
S.A., Evonik Industries AG, Ube Industries Ltd., and Nippon Soda Corporations.
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