The polybutadiene market comprises key products like solid polybutadiene and liquid polybutadiene that are primarily used in the manufacturing of tires and rubber products owing to properties like flexibility, elasticity and abrasion resistance. Polybutadiene provides strength and puncture resistance to tires and also acts as a binder and reinforcer in rubber compounds. It improves processability, reinforcement characteristics, and crack and wear resistance of rubber products.

The Global Polybutadiene Market is estimated to be valued at US$ 11.02 Bn in 2024 and is expected to exhibit a CAGR of 8.3% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the polybutadiene market are ABET Technologies, Asahi Spectra, Iwasaki Electric, Meyer Burger Technology, Newport Corporation, Gsolar Power, OAI, Nisshinbo, Sciencetech, Endeas Oy, Solar Light Company, Spectrolab, Eternalsun Spire, WASAKI Electric, ETS Solutions Asia, Spire Solar, Caeleste, AESCO Telecom, Eternal Sun, Class One Equipment. Key players like Kumho Petrochemical and JSR Corporation account for over 60% of the global polybutadiene production capacity.

Polybutadiene Market Demand for tires from the automotive industry is propelling the polybutadiene market. Over 2.5 billion tires are produced annually across the world. Furthermore, construction activities and manufacturing output are increasing globally which is positively impacting the demand for various rubber products where polybutadiene is used.

The polybutadiene market is expanding globally with the increasing automotive and tire manufacturing in developing economies like India and China. Tire recycling and reclaiming efforts are also on the rise to increase the sustainability of the polybutadiene supply chain and address the growing scrap tire volumes.

Market key trends

One of the key Polybutadiene Market Size and Trends in the polybutadiene market is the shift towards more sustainable solutions through increasing recycling and use of reclaimed polybutadiene. Based on a study, over 1 billion scrap tires are generated annually worldwide presenting an opportunity to recover valuable resources like polybutadiene. Companies are investing in innovative pyrolysis and devulcanization technologies to break tires down into their core components to derive reclaimed or recycled polybutadiene. This trend is expected to gather more momentum in the coming years as sustainability becomes a priority.

Porter’s Analysis

Threat of new entrants: New entrants face high capital requirements to enter the Polybutadiene market due to well established players occupying a large market share.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of multiple alternatives in the market. However, buyers prefer branded and quality products.

Bargaining power of suppliers: A few major players dominate the raw material supply chain exerting pressure on profit margins of Polybutadiene producers.

Threat of new substitutes: Alternatives like neoprene rubber have limited threat currently due to Polybutadiene's cost advantage and performance benefits.

Competitive rivalry: Intense competition exists among leading players to gain greater market share through product differentiation and innovation.

Geographical Regions

Asia Pacific dominates the global Polybutadiene market in terms of value owing to large production capacities and presence of emerging economies like China and India with growing end-use industries. China accounts for more than 50% of the global Polybutadiene demand led by tire, polymer modification applications.

Middle East and Africa is projected to witness the fastest growth during the forecast period on account of rising automobile production along with infrastructure development activities particularly in GCC countries. The growing tire replacement market will further support the Polybutadiene demand from the region.

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About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)