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Global Polybutadiene (BR) Market Comprehensive Study: Forecasted Market Size And Growth Rate | LG Chem Ltd., Versalis SPA, China Petroleum & Chemical Corporation, JSR Corporation, Reliance Industries Limited, Lanxess AG
Polybutadiene (BR) Market Size
The Business Research Company offers in-depth market insights through Polybutadiene (BR) Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth 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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Market Segmentation:
The main product types of polybutadiene are solid polybutadiene and liquid polybutadiene. Liquid polybutadienes (LPBds) are highly reactive liquid hydrocarbon polymers that are being formulated into solvent-free or low-solvent coating formulations. The applications involved are automotive, chemical, industrial, and other applications. The sales channels involved are online and offline. The industry verticals are tire, automotive, chemical, industrial rubber manufacturing, and other industry verticals.
Major Driver - Increased Utilization Of Polybutadiene In High-Performance Tire Production Drives Polybutadiene 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.
Competitive Landscape:
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.
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Top Trend - Neodymium Polybutadiene (ND-PBR) Rubber Production Revolutionizes The Polybutadiene Rubber Market
Neodymium polybutadiene (ND-PBR) rubber production is an emerging trend in the polybutadiene rubber market. Neodymium is a catalyzed synthetic polybutadiene that has high elasticity and is resistant to dynamic stress at both high and low temperatures. It is majorly used in the manufacturing of tires, conveyor belts, golf balls, footwear, and other industries. For instance, Lanxess, a producer of neodymium polybutadiene rubber, is producing 0.14 million tons of ND-PBR per year.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Polybutadiene (BR) Market Characteristics
3. Polybutadiene (BR) Market Trends And Strategies
4. Polybutadiene (BR) Market - Macro Economic Scenario
5. Polybutadiene (BR) Market Size And Growth
…..
27. Polybutadiene (BR) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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