Polybutadiene (BR) Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope

Polybutadiene is a synthetic rubber that is formed from the polymerization process of the monomer 1,3-butadiene. Polybutadiene is abrasion-resistant and is used, especially in the manufacture of tires, as an additive to improve the mechanical strength of plastics such as polystyrene and acrylonitrile butadiene styrene (ABS). Polybutadiene is also used to coat or encapsulate electronic assemblies, offering high electrical resistivity.

Sizing and Forecast

The polybutadiene (br) market size has grown strongly in recent years. It will grow from $21.44 billion in 2023 to $23.57 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to tire manufacturing, rubber goods production, adhesives and sealants, impact modifier.

The polybutadiene (br) market size is expected to see strong growth in the next few years. It will grow to $33.23 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to green and sustainable materials, automotive industry growth, tire industry innovations, advanced rubber goods. Major trends in the forecast period include bio-based polybutadiene, high cis polybutadiene, customized polymer blends, recycled polybutadiene.

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Segmentation & Regional Insights

The polybutadiene (br) market covered in this report is segmented –

1) By Product Type: Solid Polybutadiene, Liquid Polybutadiene

2) By Sales: Online, Offline

3) By Industry Vertical: Tire, Automotive, Chemical, Industry Rubber Manufacturing: Other Industry Verticals

Asia-Pacific was the largest region in the polybutadiene (BR) market in 2023. Western Europe was the second-largest region in the global polybutadiene (br) market. The regions covered in the polybutadiene (BR) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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Major Driver Impacting Market Growth

Increased usage of polybutadiene in high-end tire manufacturing has contributed to the growth of the polybutadiene market. Nearly 70% of the world’s production of polybutadiene is used in tire manufacturing. After the curing process, BR possesses different properties such as abrasion resistance, poor wet traction, and low rolling resistance because of its low glass transition temperature. It is also widely used in the sidewall of truck tires to improve abrasion and reduce wear. For example, companies such as UBE Industries manufacture BR, which is used in tires with premier physical properties such as rebound, tensile strength, heat buildup, and grades with excellent processability such as mixing, roll banding, and extrusion.

Key Industry Players

Major companies operating in the polybutadiene (BR) market include LG Chem Ltd., Versalis SPA, China Petroleum & Chemical Corporation, JSR Corporation, Reliance Industries Limited, Lanxess AG, Kumho Petrochemical Co. Ltd., Goodyear Tire & Rubber Company, UBE Industries Ltd., Synthos SA, Evonik Industries AG, LyondelBasell Industries NV, Zeon Corporation, Nizhnekamskneftekhim, Firestone Polymers LLC, SIBUR International GmbH, Arlanxeo, China National Petroleum Corporation, PetroChina Company Limited, Formosa Petrochemical Corporation, Indian Synthetic Rubber Limited, Asahi Kasei Corporation, Sumitomo Chemical Co. Ltd., Saudi Aramco, Saudi Arabia’s Basic Industries Corporation, Kuraray Co. Ltd.

The polybutadiene (br) market report table of contents includes: