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Liquid Polybutadiene Market Analysis to 2023 | Global Industry Analysis and Opportunity Assessment
Liquid Polybutadiene Market
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Global Top 10 Key Players:
The prominent players in the Global Liquid Polybutadiene Market are Kuraray Co. Ltd (Japan), SIBUR International GmbH (Austria), Idemitsu Kosan Co.,Ltd. (Japan), Versalis S.p.A (Italy), Evonik Industries AG (Germany), Cray Valley (France), and NIPPON SODA CO., LTD (Japan), among others.
Liquid Polybutadiene is a colorless and transparent chemical compound with low Volatile Organic Compounds (VOCs). It consists of carbon and hydrogen, which make it excellent chemical resistant material. The superior properties offered by Liquid Polybutadiene are high resistance to wear, which makes it ideal for tire manufacturing. It is also used in bumpers, side wall of tires, rim cushion and bead filler among others. Furthermore, with excellent electrical insulation and high cold resistance properties by keeping good flexibility at low temperature, it is suitable for electrical component parts manufacturing and is used as additive to improve toughness of plastics. Liquid Polybutadiene is used in various rubber goods other than tires such as conveyor belts, hoses, and gaskets.
Intended Audience
Manufacturers and Distributors of Liquid Polybutadiene.
Manufacturers and Distributors of Liquid Polybutadiene.
Suppliers and traders.
Government, Associations and Industrial Bodies.
Investors and Trade experts.
Consulting in Chemical Experts
The Global Liquid Polybutadiene Market is estimated to reach USD 3,776.5 million by 2023 at a CAGR of 4.85% during the forecast period. This is attributed to increasing demand for the product from the transportation sector. Based on the application, the Global Liquid Polybutadiene Market is characterized into tire manufacturing, industrial rubber, polymer modification, protective films, chemicals, coatings, adhesives & sealants, and others. Among these applications, the tire manufacturing accounts for the largest market share as of 2016 and is estimated to grow at the highest CAGR of 5.31% during the forecast period. In the coming years, the tire manufacturing segment is anticipated to retain its dominance due to the constantly rising demand from the automotive industry. Apart from tire manufacturing industry, industrial rubber is another substantial application of the Liquid Polybutadiene and is holding 19% share of the market.
On the basis of end use, the Global Liquid Polybutadiene Market is segmented into transportation, construction, industrial, and others. Transportation is the leading segment and it is expected to grow at the highest CAGR to reach USD 1,548.3 million by the end of 2023. This industry is the key consumer of Liquid Polybutadiene and accounts for the major share of the overall demand for the product. The construction industry is closely following the leading transportation industry, and is estimated to grow at a considerable CAGR over the review period.
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Segmentation:
The Global Liquid Polybutadiene Market is segmented on the basis application, end use, and region. On the basis of application the market is divided into tire manufacturing, industrial rubber, polymer modification, protective films, chemicals, coatings, adhesives & sealants, and others. On the basis of end use, the market is segmented transportation, construction, industrial, and others. Geographically, the Global Liquid Polybutadiene Market is spanned across: Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Geographic Analysis:
The Global Liquid Polybutadiene Market is projected to grow at a CAGR of 4.85% during the review period 2017-2023. Asia Pacific accounted for the largest share due to growth of the major end use industries in the region. Transportation industry likely to dominate the Global Liquid Polybutadiene Market during the forecast period.
Regional Analysis:
The Global Liquid Polybutadiene Market is segmented into five key regions Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among them, Asia Pacific accounted for the largest market share in 2016, and is projected to grow at the highest CAGR of 5.34% to reach USD 1,483.2 million by the end of 2023. The dominance of Asia Pacific region is mainly attributed to the rapid industrialization in the region along with the presence of considerable number of producers coupled with cheap labor cost. Asia Pacific region is followed by Europe, which accounted for the second largest market share owing to rising renovation and repair in construction industry. As of 2016, Germany accounted the largest market share of 29.70% in Europe and expected to remain dominance throughout the forecast period owing to greater penetration of end user industries in the country.
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