The report “Polybutadiene Market by Type (Solid Polybutadiene (High Cis, Low Cis, High Trans, High Vinyl), Liquid Polybutadiene), Application (Tires, Polymer modification, Industrial rubber, Chemical), and Region – Global Forecast to 2024″, The polybutadiene market size is expected to grow from USD 10.8 billion in 2019 to USD 13.8 billion by 2024, at a CAGR of 5.1% during the forecast period. The polybutadiene market is driven by tire, polymer modification, and industrial rubber manufacturing industries. However, the fluctuating raw material prices can hinder the growth of the market.
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APAC is estimated to account for the largest value share of the global polybutadiene market in 2019. The market is primarily driven by the strong demand from the automotive industry. China is expected to boost the demand for polybutadiene during the forecast period. Increasing disposable income, huge consumer base, rising urban population, low labor costs, and easy availability of raw materials are attracting global automobile manufacturers to shift their production facilities to the region, thus, creating a high demand for polybutadiene in this region.
The objectives of this study are:
To analyze and forecast the size of the global polybutadiene market, in terms of value and volume
To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
To define, describe, and forecast the market on the basis of type and application
To analyze and forecast the polybutadiene market on the basis of key regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America
To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
To analyze competitive developments such as capacity expansions, new product developments, joint ventures, and mergers & acquisitions in the polybutadiene market
Key Market Players
The major players in the polybutadiene market are ARLANXEO (Netherlands), JSR Corporation (Japan), UBE Industries Ltd. (Japan), SABIC (Saudi Arabia), LG Chem Ltd. (South Korea), Versalis SPA (Italy), PJSC SIBUR Holdings (Russia), Sinopec (China), and Kuraray Co. Ltd. (Japan). These companies adopted new product development, joint venture, and expansion as their major business strategies between January 2015 and August 2019 to earn a competitive advantage in the polybutadiene market.
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