Polybutadiene Elastomers Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, Malaysia, Indonesia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3943
Polybutadiene Elastomers Market size is expected to grow substantially in the forecast period owing to increasing per capita income has given boost to the automobile sector of various emerging economies as these are primarily used in manufacturing tires. In terms of volume, polybutadiene elastomers are the second largest synthetic rubber produced after styrene butadiene elastomers. High abrasion resistance along with ability to recover shape and size after stress have make them ideal choice for manufacturing of tires. The product is also used as an impact modifier additive in the polymerization process of acrylonitrile-butadiene-styrene resin (ABS) and polystyrene. This makes these products ideal to be used in manufacturing of conveyor belts, hoses, transmission belts and other consumer products such as toys, golf balls, etc. The product also possesses high abrasion resistance and resistance to cut growth.
The global production of tire is expected to remain around 19 million tons in 2019 and is expected to reach 22 million tons by 2024 with growth rate of more than 3%. This is mainly driven by tire replacement/wear needs and growing sales of new vehicles. The above trend is expected to continue and will escalate the demand of polybutadiene elastomers as tire manufacturing is one of the major applications of it. Fluctuations in raw material prices as these are majorly petrochemical derivatives can impact the market in negative manner. Increasing environmental concerns regarding production of butadiene have shifted the manufacturers to develop sustainable solutions like use of bio-based butadiene products. This will hinder the growth rate of synthetic elastomers like polybutadiene over forecast timeframe.
On the basis of product, the polybutadiene elastomers market size is segmented into high cis, low cis, high vinyl and high trans. High cis polybutadiene elastomers increase cut growth resistance and green strength of the product. Both of these properties are important for tire manufacturing and better tire performance throughout its life. These types of product are also suitable in manufacturing the golf balls cores. Low cis polybutadiene elastomers have major applications in industrial applications as these possesses properties such as high purity, high consistency and low gel content. High trans polybutadiene elastomers are less commercialized as their crystalline properties has adverse effects on bonding properties. These are utilized in tire manufacturing by blending them with styrene butadiene, neoprene and natural rubber. Majorly, the product is manufactured through solution process using various transition metals as catalysts, which plays important role in this process. Lithium is the major catalyst used for manufacturing of high vinyl and high trans polybutadiene elastomers.
The product finds its application in various sectors such as tire manufacturing, industrial rubber manufacturing and polymer modification. Tire manufacturing is the major application segment for the product and its growth is propelled by flourishing automotive sector in countries such as China, Indonesia, Mexico, etc. Rising demand of performance plastics will also contribute towards the polybutadiene elastomers market growth rate as it is used in polymer modification processes.
On the basis of region, polybutadiene elastomers is expected to hold significant share in the overall market due to presence of large automobile companies along with large number of petrochemical complexes producing various downstream products. In North America and Europe, it is expected that the demand of product will move forward at a moderate rate due to reducing industrial production. The Middle East & Africa region is expected to show decent growth rate due to diversification of oil & gas sector due to crude price volatility and disruptions caused by increasing shale oil & gas production by the U.S. Countries in this region are now investing more in the downstream and petrochemical sector in order to boost employment and industrial development activities.
The companies in polybutadiene elastomers market share are adopting various organic and inorganic growth strategies such as regional expansion, mergers & acquisitions, increasing distribution base & production capacities, etc. Some of the prominent players in this market are LyondelBasell, Lanxess, Synthos, JSR Corporation, Versalis, Reliance Industries, LG Chem, UBE Industries, Kuraray Co., etc.
Polybutadiene Elastomers Market, By Product, 2014-2025 (USD Million)
- High cis
- Low cis
- High vinyl
- High trans
Polybutadiene Elastomers Market, By Application, 2014-2025 (USD Million)
- Tire manufacturing
- Polymer modification
- Industrial rubber manufacturing
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- JSR Corporation
- Reliance Industries
- LG Chem
- UBE Industries
- Kuraray Co.
- Kumho Petrochemical
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