The global polybutadiene market will grow at a CAGR of around 5% over the period 2022-2031; The market will earn approximately $ 17 billion in revenue by 2031 in the wake of the growing trend of low rolling resistance and improved performance tires

Kenneth research
Kenneth research

Key companies covered by Kenneth Research’s Polybutadiene Market Research Report are ALANXEO, JSR Corporation, UBE Corporation, Saudi Basic Industries Corporation, LG Corp., SIBUR Holding PJSC, China Petrochemical Corporation, KURARAY CO., LTD., ZEON CORPORATION , Fineotex Chemical Ltd. and other key market players.

New York, July 28, 2022 (GLOBE NEWSWIRE) – According to the World Bank, adjusted net national income per capita around the world has increased over the years. In 2015, the adjusted net national income per capita was $ 8,501 and had increased to $ 9,434 by 2019.

Kenneth Research released a detailed market report on ‘Global Polybutadiene Market‘which includes ongoing industry innovations and recent trends adopted by major industry players to achieve their business goals. On top of that, inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for market players along with global analysis on five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa was provided in the report.

Global production of natural and synthetic rubber was approximately 28 million tons in 2020. The global polybutadiene market is estimated to earn approximately $ 17 billion in revenue by 2031, growing at a CAGR of nearly 5% over the forecast period, or from 2022 to 2031. The growth in the market can be attributed to increasing production. of rubber around the world and the growing demand for inexpensive natural rubber substitutes. In 2020, the production volume of polybutadiene was nearly 4 million tons globally and is estimated to grow to nearly 5 million tons by 2026. In addition, rising per capita disposable income is also expected to fuel market growth.

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The production of light and fuel efficient vehicles is currently the focus of attention due to the growing need for low maintenance vehicles around the world, coupled with the increasing use of polybutadiene for tire production. Hence, this should be an important factor in stimulating the growth of the global polybutadiene market. Auto sales around the world are growing rapidly, which should translate into the growth of the global polybutadiene market. According to the IEA (International Energy Agency), around 73 million cars were sold worldwide in 2020. In addition, the volume of the world polybutadiene market has grown over the years and is expected to further increase over the projection period. It was noted that, globally, the market volume of polybutadiene amounted to around 4.5 million tonnes in 2021.

Regionally, the global polybutadiene market is segmented into five main regions, including North America, Europe, Asia Pacific, Latin America and the Middle East, and Africa. The Asia Pacific region is expected to see significant growth over the forecast period. This growth can be credited to the high demand from the auto industry for increased demand for cars based on the increased disposable income, huge consumer base and low labor costs. Furthermore, the population has been increasing rapidly throughout the region over the years. It was noted that the population was 1.86 billion in 2020 in the region. Hence, this should be a key factor in fueling the growth of the polybutadiene market in the region.

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On the other hand, the market in the North American region is estimated to hold the largest share in the forecast period due to the presence of major petrochemical companies, the increase in the downstream industry and the presence of major tire manufacturers. For example, by 2027, petrochemical production in the United States is estimated to be nearly 100 million tons. In addition, the North American area has seen very significant growth in overall national spending. Regional spending was noted to have been 22.3% of total regional GDP in 2019 and from there it rose to 32.6% of GDP in 2020. Hence, this is estimated to be an important factor in stimulating the growth of the polybutadiene market in the region.

The study further incorporates YOY ​​growth, supply and demand and predicts future opportunities in North America (US, Canada), Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands and Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark]Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman]North Africa, South Africa, Rest of the Middle East and Africa).

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The global polybutadiene market is segmented based on application in tires, polymer modification, industrial rubber and chemicals. Of these segments, the tire segment is expected to hold the largest share over the projection period. The growth of this segment can be attributed to the effect of polybutadiene on tires, such as toughness, good abrasion resistance, cold resistance, high tensile strength, high resilience, tear resistance and durability. Furthermore, the demand for the use of polybutadiene for the production of tires is increasing, particularly in the automotive sector, which is expanding rapidly. The global automotive industry turnover was approximately $ 2.5 trillion and is expected to increase significantly over the forecast period.

Furthermore, the global polybutadiene market is segmented by type into solid polybutadiene (high cis, low cis, high trans and high vinyl) and liquid polybutadiene. Of these, the solid polybutadiene segment is expected to hold a substantial market share over the forecast period due to high tire demand and production in emerging economies, new product introductions and increasing use in polymer modification applications. . World tire production in 2019 is estimated to have reached around 20 million tonnes.

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Some of the key players and their company profiling mentioned in the report include ALANXEO, JSR Corporation, UBE Corporation, Saudi Basic Industries Corporation, LG Corp., SIBUR Holding PJSC, China Petrochemical Corporation, KURARAY CO., LTD., ZEON Corporation, Fineotex Chimica Ltd. and others. Profiling encompasses growth opportunities, challenges, market trends and competitive analysis and positioning.

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