USD 3.9 Billion
Liquid Polybutadiene Market Size, Share, Growth Analysis, By Application (Adhesives & Sealants, Polymer Modification), By End-User (Automotive, Construction), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2536 |
Region:
Global |
Published Date: November, 2024
Pages:
184
|Tables:
67
|Figures:
70
Liquid Polybutadiene Market Insights
Global Liquid Polybutadiene Market size was valued at USD 3.9 Billion in 2022 and is poised to grow from USD 4.1 Billion in 2023 to USD 6.15 Billion by 2031, growing at a CAGR of 5.2% during the forecast period (2024-2031).
The global liquid polybutadiene market has witnessed significant growth and advancements in recent years. The market's expansion depends on various factors, including the rising need for liquid polybutadiene in tire applications, the growing demand for natural rubber, and the increasing use of liquid polybutadiene in construction applications. There has been a notable rise in the use of plastic within the liquid polybutadiene (LPBD) industry, and this upward track is anticipated to persist in the upcoming future. The upsurge in the utilization of liquid polybutadiene (LPBD) in thermosetting plastic materials, particularly in processes like curing and handling for polyester resins, is a key driver propelling the market's expansion. However, strict regulations concerning the environmental impact of plastic could hamper the growth of the plastic segment in this marketplace. To address these environmental concerns, the increased production of both biodegradable and petroleum-based plastics might provide a practical solution.
Synthetic rubbers, which are by-products of petroleum, find significant application due to their viscoelastic properties. Due to its prevalent use in tire production, the liquid polybutadiene (LPBD) market is poised for robust growth across the forecast period. Beyond the factors influencing liquid polybutadiene production, the surging popularity of bio-adhesives and the growing incorporation of bio-based elements in tire manufacturing are also contributing to the increased demand for liquid polybutadiene (LPBD). Moreover, the increasing adoption of low-rolling resistance and high-performance tires in the automotive industry is expected to significantly contribute to the expansion of the liquid polybutadiene market. Nevertheless, the market faces challenges, including the volatility of crude oil prices and the fluctuating costs of raw materials.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Automotives/ Rubber Manufacturing
Fastest Growth
Construction/ Polymer Modification
Growth Rate
5.2% CAGR
Global Liquid Polybutadiene Market ($ Bn)
Country Share for North America Region (%)
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Liquid Polybutadiene Market Segmental Analysis
Global Liquid Polybutadiene Market is segmented b, Application, End User and region. Based on application, the market is segmented into Tire Manufacturing, Industrial Rubber, Polymer Modification, Protective Films, Chemicals, Coatings, Adhesives & Sealants, and Others. Based on end user, the market is segmented into Automotive, Construction, Industrial, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis By Application
The largest segment in the global liquid polybutadiene market is the automotive/rubber manufacturing segment. In automotive and rubber manufacturing, liquid polybutadiene plays a crucial role, particularly in the production of tires, due to its exceptional elasticity and the property of low rolling resistance. Its incorporation in the tire industry is significant in enhancing overall tire performance and ensuring tire durability. Rubber manufacturing applications of liquid polybutadiene account for 38.4% of global sales. For instance, the increasing focus on research and development, coupled with the expansion of production capacity by manufacturers like Evonik and Nippon Soda, reveals a key strategy within the liquid polybutadiene market. Moreover, the investments made by these companies to promote the product and establish collaborations with tire manufacturers depict a promising market potential over the medium-term forecast period.
The fastest-growing segment of the liquid polybutadiene market is the construction sector. Within the construction sector, liquid polybutadiene finds application in diverse areas such as waterproofing, membrane seals, and coatings. Its use contributes significantly to shielding against moisture, elevating durability, and enhancing the overall structural integrity of construction materials. As a crucial component in coatings, liquid polybutadiene is known for its water resistance and chemical stability. These qualities make it a preferred choice for coatings and paints, delivering outstanding adhesion, resistance to chemicals, and flexibility. Its widespread use is observed in architectural coatings, industrial coatings, and protective coatings.
Liquid polybutadiene-based adhesives form an ideal position for themselves by offering high strength, flexibility, and resistance to chemicals and moisture. These adhesives find various applications across industries, including automotive, aerospace, and electronics.
For instance, Kuraray Co. Limited, Sumitomo Corporation, and PTT Global Chemical (Thailand), in 2016, signed an MoU for a shared study for the potential expansion of butadiene derivatives in Thailand. These companies are also pursuing the global market for polybutadiene in the upcoming future.
Global Liquid Polybutadiene Market By Application
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Liquid Polybutadiene Market Regional Insights
The dominating region in the global liquid polybutadiene market is North America. The substantial share of this region can be attributed to the prominent presence of automotive and construction industries. The demand for liquid polybutadiene in applications like style manufacturing, sealants, and coatings is a key driver propelling market growth in this region.
Meanwhile, Europe stands out as another significant market for liquid polybutadiene, propelled by the increasing demand for high-performance rubber materials within the automotive and construction sectors. The region's emphasis on sustainable and environmentally friendly solutions further contributes to the overall growth of the market.
The Asia Pacific region is currently the fastest-growing regional market, undergoing rapid industrialization and urbanization, leading to a heightened demand for liquid polybutadiene. The presence of a robust manufacturing base and the expansion of infrastructure projects, particularly in countries like China and India, are instrumental in fostering market growth in this region. For instance, many key manufacturers of liquid polybutadiene such as Nippon Soda Co. Limited, Idemitsu Kosan Co. Limited, and Kuraray Co. Limited are based in Asia Pacific, thus driving the regional market.
Latin America is also experiencing steady growth in the liquid polybutene market, primarily propelled by the automotive and construction industries. Favorable economic conditions and investments in infrastructure development present growth opportunities for market players in the region.
The Middle East and Africa region exhibit significant potential for market growth, primarily due to the expansion of the construction and automotive sectors. The increasing pace of urbanization and infrastructure projects in the region are driving the demand for liquid polybutadiene.
Global Liquid Polybutadiene Market By Geography
- Largest
- Fastest
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Liquid Polybutadiene Market Dynamics
Drivers
Increase in Demand for High-Performance Rubber Materials
- The growing demand for high-performance rubber materials, characterized by their exceptional properties like elasticity, durability, and resistance to chemicals and abrasion, is a key driver behind the increasing need for liquid polybutadiene. Various industries, including automotive, construction, and coatings, heavily depend on these materials for many applications thereby driving market growth
Growth in Applications in Automotive Industry
- It is widely used in the automotive industry, playing a crucial role in applications such as tire manufacturing, the production of vibration-dampening parts, and the formulation of automotive adhesives. Given the global expansion of the automotive sector, the demand for liquid polybutadiene is anticipated to experience substantial growth. The global demand for automotive vehicles, including both passenger and commercial vehicles, is on the rise. This surge is directly influencing the consumption of tires. Consequently, there is an estimated increase in the consumption of liquid polybutadiene for tire manufacturing, driven by the increasing need in response to the growing automotive market worldwide.
- According to IEA, sales of electric cars have been increasing and are boosting the stock of electric cars. The global electric vehicle stocks excluding (two/three-wheelers) are estimated to increase 36% annually, reaching 246 million by 2030. Developing countries like India, China, and Brazil are witnessing an increase in demand for automobiles is expected to surge the liquid polybutadiene market during the estimated period.
Increase in Construction Activity
- Liquid polybutadiene is employed in various applications within the construction industry, including waterproofing membranes, sealants, and coatings. The construction sector's rapid growth, especially in developing regions, is driving increased demand for liquid polybutadiene. The significant growth of construction industries, particularly in the Asia Pacific region, is anticipated to drive an increased demand for liquid polybutadiene throughout the forecasted period.
Advancements in Coatings and Adhesives
- Liquid Polybutadiene stands out for its remarkable adhesion and chemical resistance properties, making it a preferred choice for coatings and adhesives. The ongoing advancements in coating and adhesive technologies are actively contributing to the growing demand for liquid polybutadiene in these applications.
Restraints
Environmental Regulations
- The liquid polybutadiene market faces challenges due to strict environmental regulations governing the production and disposal of rubber materials. This pressure has led the industry to actively seek and develop more sustainable alternatives, aiming to reduce its environmental impact and adopt practices that align with stringent regulatory requirements.
Volatile Raw Material Prices
- The liquid polybutadiene market is affected by the unpredictability of the cost of raw materials, notably butadiene, used in its production. The volatility in raw material prices has the potential to influence the profitability of manufacturers, posing a challenge that may hinder overall market growth.
Lack of Awareness and Limited Availability
- In specific regions, there might be a lack of awareness and limited availability of liquid polybutadiene. This could potentially impede the market's growth, particularly in emerging economies where the adoption of this substance may be hindered by a combination of insufficient awareness and restricted accessibility.
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Liquid Polybutadiene Market Competitive Landscape
The global liquid polybutadiene market is highly competitive and characterized by the presence of several key players. Companies are investing in research and development activities to enhance the properties of liquid polybutadiene and cater to the evolving market demands. The market is dominated by a few big companies, and they're working hard to stay in control for a long time. These major manufacturers are always working on creating new products to enter different areas of use. In alignment with this trend, various companies are expanding their production capacities and establishing manufacturing facilities in strategic regions. This strategic move aims to ensure a consistent and steady supply of the product, particularly in emerging markets.
Top Player’s Company Profile
- Cray Valley (TotalEnergies)
- Kuraray Co., Ltd.
- Evonik Industries
- Synthomer Plc
- Nippon Soda Co., Ltd.
- Idemitsu Kosan Co., Ltd.
- Efremov Synthetic Rubber Enterprise
- Tianyun Chemical Research
- SIBUR Holding
- UBE Industries Ltd.
- Zeon Corporation
- JSR Corporation
- Lion Elastomers
- Arlanxeo
- Polysar GmbH
- Nizhnekamskneftekhim PJSC
- China National Petroleum Corporation (CNPC)
- Kumho Petrochemical
- SK Global Chemical Co., Ltd.
- LG Chem
Liquid Polybutadiene Key Market Trends
- Bio-based Alternatives: With the growing emphasis on sustainability, ongoing research into bio-based alternatives to traditional polybutadiene is gaining significance. This exploration has the potential to impact the market as industries seek more environmentally friendly alternatives.
- Functionalized Variants: Manufacturers are actively working on developing functionalized liquid polybutadienes molded to provide enhanced properties for specific applications, such as improved adhesion.
- Modifications: A growing trend in the industry involves modifying liquid polybutadiene formulations to meet specific requirements, such as achieving different levels of flexibility or resilience.
Liquid Polybutadiene Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our Global liquid polybutadiene market analysis, several factors shape the path of the liquid polybutadiene market owing to the exceptional properties and versatile application scope of liquid polybutadiene. The increasing need for high-performance rubber materials, advancements in automotive applications, and ongoing infrastructure development activity are key factors propelling market growth. However, challenges exist in the form of environmental regulations and volatile raw material prices. Nevertheless, there are opportunities for sustainable solutions through product innovations and strategic collaborations with a focus on customer solutions. The rubber manufacturing/automotive segment is likely the largest in terms of market share due to the extensive use of liquid polybutadiene in the automotive industry. One big trend right now is using bio-based alternatives because people are focusing more on sustainability. North America holds the highest share of the liquid polybutadiene market. The markets' prominent manufacturers include Evonik Industries AG, Nippon Soda Co., Limited, Synthomer, and TOTAL Cray Valley, among others. Technological advancements and expansion into emerging economies further contribute to the positive outlook for the liquid polybutadiene market's future.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.9 Billion |
| Market size value in 2031 | USD 6.15 Billion |
| Growth Rate | 5.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Liquid Polybutadiene Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Liquid Polybutadiene Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Liquid Polybutadiene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Liquid Polybutadiene Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Liquid Polybutadiene Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Liquid Polybutadiene Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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