“The growing use of polybutadiene in the tire application is a key factor for the Growth Of The Polybutadiene Market.”
The global polybutadiene market size is estimated to reach USD 12.71 billion by 2031, at a CAGR of 5.3% from 2022 to 2031.
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 prices may restrain the growth of market.
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“Tires: the fastest-growing application segment”
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 makes 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.
“Asia Pacific is estimated to be the leading market for polybutadeine”
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.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
• By Company Type: Tier 1 – 60%, Tier 2 – 30%, and Others – 10%
• By Designation: C level – 25%, Manager level – 30%, and Others – 45%
• By Region: Asia-Pacific – 42%, North America – 20%, Europe – 18%, the Middle East & Africa – 10%, and South America – 10%
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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).
This research report categorizes the polybutadiene market on the basis of type, application, end-use industry, and region. The report includes detailed information regarding the major factors influencing the growth of the polybutadiene market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into business overviews, products & services, key strategies, expansions, mergers & acquisitions, new product developments, agreements, and recent developments associated with the market.
Reasons to Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the polybutadiene market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across end-use industries and regions.
2. The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business. The competitive landscape section includes expansions, acquisitions, and new product developments.
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Shibuya Data Count
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