Global polybutadiene market to grow at a CAGR of ~5% during 2022-2031; Market to generate US$17 billion in revenue by 2031 due to growing trend of low rolling resistance and better performance tires

Kenneth Research

Kenneth Research

Major companies included in the Polybutadiene Market Research Report by Kenneth Research are ARLANXEO, 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 major market players.

NEW YORK, July 28, 2022 (Globe Newswire) — According to the World Bank, the world’s per capita adjusted net national income has been increasing throughout the years. In 2015, the per capita adjusted net national income was US$8,501 and had risen to US$9,434 by 2019.

Kenneth Research has published a comprehensive market report on ‘.Global Polybutadiene Market’ Including ongoing industry innovation and recent trends being adopted by major industry players to achieve their business goals. In addition, analysis of market size, growth rate, market revenue share, growth opportunities and market players along with worldwide analysis on five key regions – North America, Latin America, Europe, Asia Pacific and Middle East & Africa – Inclusive data for challenges. given in the report.

Global production of natural and synthetic rubber was approximately 28 million metric tons in 2020, The global polybutadiene market is projected to grow at a CAGR of around 5% over the forecast period, i.e. 2022 – 2031, to generate revenues of around USD 17 billion by 2031. The growth of the market can be attributed to the increasing production of rubber. worldwide, and the growing demand for cheaper alternatives to natural rubber. In 2020, polybutadiene production amounted to approximately 4 million metric tons globally, and is projected to increase to about 5 million metric tons by 2026. Besides, increase in per capita disposable income is also expected to boost the growth of the market.

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The manufacturing of lightweight and fuel-efficient vehicles is currently in the limelight due to the increasing need for low-maintenance vehicles around the world along with the increasing use of polybutadiene to make tyres. Therefore, it is expected to be a major factor driving the growth of the global polybutadiene market. Car sales are increasing rapidly across the world, resulting in the growth of the global polybutadiene market. According to the IEA (International Energy Agency), around 73 million cars were sold worldwide in 2020. Additionally, the worldwide market volume of polybutadiene has been increasing throughout the years and is anticipated to increase further in the launch period. It was observed that, globally the market volume of polybutadiene was around 4.5 million metric tonnes in 2021.

Regionally, the global polybutadiene market has been segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Significant growth is anticipated in the Asia Pacific region over the forecast period. This growth can be attributed to the automotive industry’s high demand for automobiles due to rising disposable income, huge consumer base and low labor costs. Additionally, the population throughout the region has been growing rapidly over the years., It was observed that the region had a population of 1.86 billion in 2020. Therefore, it is expected to be a major factor driving the growth of the polybutadiene market in this region.

Browse through to access the in-depth research report on the Global Polybutadiene Market with detailed charts and statistics: https://www.kennethresearch.com/report-details/polybutadiene-market/10070762

On the other hand, North America region market is anticipated to hold the major share in the forecast period due to presence of major petrochemical companies, growth in downstream industry and presence of major tire manufacturers. For example, by 2027, petrochemical production in the United States is projected to be approximately 100 million metric tons. In addition, the North America region showed a very significant increase in overall national expenditure. It was observed that the sectoral expenditure in 2019 was 22.3% of the total regional GDP, and from there it increased to 32.6% of the GDP in 2020. Hence, it is anticipated to be a major factor driving the growth of the polybutadiene market in this region.

The study includes forecast of YOY growth, demand and supply and future opportunities in North America (USA, 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, the rest of the Middle East and Africa).

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The global polybutadiene market has been segmented on the basis of application into tyres, polymer modifications, industrial rubber, and chemicals. Out of these segments, the tire segment is expected to account for the major share in the launch period. The growth of this segment can be attributed to the impact of polybutadiene on tyres, such as hardness, good abrasion resistance, cold resistance, high tensile strength, high ductility, tear resistance and durability. Additionally, there is a growing demand for the use of polybutadiene to make tyres, especially in the automotive sector, which is rapidly expanding. The worldwide automotive industry revenue was approximately USD 2.5 trillion and is expected to grow significantly over the forecast period.

Furthermore, the global polybutadiene market is segmented on the basis of type into solid polybutadiene (high cis, low cis, high trans, and high vinyl), and liquid polybutadiene. Of these, the solid polybutadiene segment is anticipated to hold a substantial market share during the forecast period owing to high demand in emerging economies and increasing usage in tyres, production of new products, and polymer modification applications. Global tire production is estimated to reach around 20 million tonnes in 2019.

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Some of the major players mentioned in the report and their company profiling include ARLANXEO, 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 others. Profiling analyzes and positions growth opportunities, challenges, market trends and competitors.

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