Hydroxyl-terminated polybutadiene (HTPB) is a viscous translucent liquid, which is an oligomer of butadiene terminated at each end with a hydroxyl group. Hydroxyl-terminated polybutadiene (HTPB) has low molecular weight. Hydroxyl-terminated polybutadiene (HTPB) has a variety of properties, as it is a mixture of compounds and not a pure substance. Hydroxyl-terminated polybutadiene has low volatile content and it has low glass transition temperature. Hydroxyl-terminated polybutadiene (HTPB) is hydrophobic in nature and is extremely reactive.

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In terms of application, the global hydroxyl-terminated polybutadiene (HTPB) market can be segmented into rocket fuel, waterproof coatings & membranes, adhesives & sealants, and potting & encapsulation. Among applications, rocket fuel is the leading segment of the global hydroxyl-terminated polybutadiene (HTPB) market, as hydroxyl-terminated polybutadiene (HTPB) is widely used in the production of solid rocket propellants. Hydroxyl-terminated polybutadiene (HTPB) is also employed for producing polyurethanes through its reaction with isocynates.

Based on end-user industry, the market for hydroxyl-terminated polybutadiene has been segmented into aerospace & defense, building & construction, automotive, electrical & electronics, and others. Aerospace & defense is the major end-user industry segment of the global hydroxyl-terminated polybutadiene (HTPB) market. The segment is anticipated to expand at a rapid pace during the forecast period, as hydroxyl-terminated polybutadiene (HTPB) shows better performance as a propellant compared to other butadiene homo-polymers with a hydroxyl group. Building & construction is estimated to be a rapidly expanding segment of the global hydroxyl-terminated polybutadiene (HTPB) market between 2018 and 2026, due to growing use of hydroxyl-terminated polybutadiene (HTPB) in adhesives used for construction.

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Hydroxyl-terminated polybutadiene (HTPB) is expensive as compared to polybutadiene and is subject to price fluctuations depending on prices of raw materials involved. Major players operating in the global hydroxyl-terminated polybutadiene (HTPB) market have patented technologies for developing HTPB. This acts as a barrier to the entry of new manufacturers in the global hydroxyl-terminated polybutadiene (HTPB) market. Despite its excellent properties, cost of HTPB would prove to be a restraining factor for the global hydroxyl-terminated polybutadiene (HTPB) market during the forecast period.

North America is the leading consumer of hydroxyl-terminated polybutadiene across the globe. This can be attributed to growth of automotive and aerospace industries in the region. Europe is a significant market for hydroxyl-terminated polybutadiene. The global hydroxyl-terminated polybutadiene (HTPB) market in Europe is estimated to expand at a moderate pace during the forecast period. Asia Pacific is projected to be the rapidly expanding global hydroxyl-terminated polybutadiene (HTPB) from 2018 to 2026, due to strong growth of the electronics & semiconductor manufacturing sector in the region. Latin America and Middle East & Africa are relatively small global hydroxyl-terminated polybutadiene (HTPB). Global hydroxyl-terminated polybutadiene (HTPB) market regions are expected to witness moderate increase in the demand between 2018 and 2026.