Polybutadiene Market Growing at a CAGR of 5.3% During 2017 to 2022 - ReportsnReports
PUNE, India, July 12, 2017 /PRNewswire/ --
Growing use of polybutadiene in the tire application is a key factor for the growth of the polybutadiene industry; polybutadiene market size will reach $12.71 billion, at a CAGR of 5.3% from 2017-2022. Polybutadiene market is driven by the increasing demand from the automotive industry and growth in rubber industry.
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The global polybutadiene market size is estimated to reach USD 12.71 billion by 2022, at a CAGR of 5.3% from 2017 to 2022. The growth of the market can be attributed to the increasing adoption of polybutadiene across various industries, such as automotive, plastics, and chemical industries, owing to their properties including toughness, excellent abrasion resistance, high tensile strength, low rolling resistance, and low glass transition. However, fluctuations in raw material pricesmay restrain the growth of market.
Key companies profiled in this market research report are Reliance Industries Ltd (India), 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), PJSC Sibur Holdings (Russia), and Kumho Petrochemical Co. Ltd. (South Korea), Total Cray Valley (US).
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The main types of polybutadiene are solid polybutadiene rubber and liquid polybutadiene rubber. The solid polybutadiene rubber segment is estimated to lead the polybutadiene market during the forecast period, due to its suitability in several applications such as tires and plastics. Solid polybutadiene is further divided into high cis, low cis, high trans, and high vinyl polybutadiene. High cis is extensively used in the automotive industry, due to its properties such as toughness, high abrasion resistance, high rolling resistance, and less susceptibility to cracking. The high cis content in polybutadiene also provides better green strength and high cut growth resistance.
The tire industry is estimated to be the fastest-growing application segment of the polybutadiene market during the forecast period. Properties such as toughness, abrasion and cold resistance, high tensile strength, high resilience, and good hot tear strength make it suitable for tire manufacturing. A major driver of the tire industry is the growing automotive industry. The growing demand for fuel efficiency and eco-friendly tires are also driving the tire industry, and in turn, the demand for polybutadiene in tire application.
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Asia Pacific is expected to be the fastest-growing market for polybutadiene market, in terms of both value and volume. High economic growth, growing manufacturing industries, availability of cheap labor, increasing foreign investments, and rise in the adoption of polybutadiene across automotive and plastic industries are some of the major factors expected to fuel the growth of the market in the region. China, India, South Korea, and Thailand are the key markets for polybutadiene in Asia Pacific.
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