According to the latest report by IMARC Group, titled “Polybutadiene Rubber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global polybutadiene rubber market is expected to grow at a CAGR of 3.65% during 2023-2028. Polybutadienerubber(PBR) is a synthetic general-purpose elastomer used as an alternative to natural rubber (NR). It is produced by anionic polymerization or by coordination polymerization of the monomer 1,3-butadiene in a non-polar solvent. As it offers excellent resilience, strength, abrasion and water resistance and low glass transition temperature, PBR finds extensive application in the formulation of tires for passenger cars, trucks, and racing cars.
Global Polybutadiene Rubber Market Trends:
At present, there is a rise in the adoption of liquid PBR to manufacture hoses, belts, shoes, rubber bands, coatings, and adhesives. This, along with the thriving automotive industry, represents one of the key factors strengthening the growth of the market.PBRprovidesa low fuel consumption rate, low rolling resistance and long life to the tires. As a result, it is used in the production of high-quality components in luxury and semi utility vehicles (SUVs). Besides this, an increase in the demand for electric vehicles (EVs) on account of rising environmental concernsis also contributing to the market growth. Furthermore, leading players are utilizing bio feedstock and other natural resources in the production of synthetic rubber. This, in confluence with rapid industrialization and increasing expenditure capacities of individuals, iscreating a favorable market outlook.
- Based on the product, the market has been divided into high cis, low cis, high trans, and high vinyl.
- On the basis of the distribution channel, the market has been bifurcated into online and offline segments.
- Based on the application, the market has been classified into tire manufacturing, polymer modification, and industrial rubber manufacturing.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Evonik Industries AG, JSR Corporation, Kuraray Co. Ltd., Lanxess AG, LG Chem Ltd., LyondellBasell Industries Holdings B.V., Nippon Soda Co. Ltd., Reliance Industries Limited, Saudi Arabia Basic Industries Corporation (SABIC), Synthomer plc, Synthos (FTF Galleon S.A.), The Goodyear Tire & Rubber Company and UBE Industries Ltd.
|Base Year of the Analysis
||Product, Distribution Channel, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Evonik Industries AG, JSR Corporation, Kuraray Co. Ltd., Lanxess AG, LG Chem Ltd., LyondellBasell Industries Holdings B.V., Nippon Soda Co. Ltd., Reliance Industries Limited, Saudi Arabia Basic Industries Corporation (SABIC), Synthomer plc, Synthos (FTF Galleon S.A.), The Goodyear Tire & Rubber Company and UBE Industries Ltd.
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