Global polybutadiene market will grow at a CAGR of approximately 5% between 2022 and 2031; Market will be worth around $17 billion by 2031 on rising trend towards low rolling resistance tires and improved performance – Yahoo Finance | Region & Cash

Kenneth Research

Kenneth Research

Key Companies covered in Kenneth Research Polybutadiene Market Research Report are ARLANXEO, JSR Corporation, UBE Corporation, Saudi Basic Industries Corporation, LG Corp., SIBUR Holding PJSC, China Petrochemical Corporation, KURARAY CO., LTD., ZEON CORPORATION, Fineotex chemical ltd and other important market participants.

New York, July 28, 2022 (GLOBE NEWSWIRE) — According to the World Bank, adjusted net national income per capita has increased worldwide over the years. In 2015, adjusted net national income per capita was $8,501, rising to $9,434 by 2019.

Kenneth Research has published an in-depth market report on “Global Polybutadiene Market‘, which encompasses the ongoing industry innovations and recent trends that are being adopted by the key industry players to achieve their business goals. Apart from that, the comprehensive data on market size, growth rate, market revenue share, growth opportunities and challenges faced by the market players, as well as worldwide analysis on five major regions – North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa has been provided in the report.

The global production of natural and synthetic rubber was around 28 million tons in 2020. The global polybutadiene market is estimated to generate around US$17 billion in revenue by 2031 by growing at a CAGR of almost 5% during the forecast period ie 2022 – 2031. The growth of the market is attributed to the increasing production of rubber across the world and an increasing demand for cheap substitutes for natural rubber. In 2020, the global production volume of polybutadiene was nearly 4 million tons and is expected to grow to nearly 5 million tons by 2026. In addition, rising per capita disposable income is expected to boost market growth.

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The manufacture of lightweight and fuel-efficient vehicles is currently in the spotlight due to the increasing global need for low-maintenance vehicles, coupled with the increasing use of polybutadiene in tire manufacturing. Hence, it is expected to be a major factor driving the growth of the global Polybutadiene market. Global auto sales are growing rapidly which is expected to lead to growth of the global polybutadiene market. According to the IEA (International Energy Agency), around 73 million cars were sold worldwide in 2020. Moreover, the market volume of polybutadiene has been growing globally over the years and it is expected to keep increasing during the forecast period. The market volume of polybutadiene was observed to be about 4.5 million tons worldwide in 2021.

Regionally, the global polybutadiene market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region is expected to witness significant growth during the forecast period. This growth can be attributed to high demand from the auto industry versus increasing auto demand due to rising disposable income, huge consumer base and low labor costs. In addition, the population across the region is increasing rapidly over the years. The population in the region was found to be 1.86 billion in 2020. Hence, it is expected to be a major factor driving the growth of the Polybutadiene market in the region.

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On the other hand, it is estimated that the market in the North America region will hold the largest share during the forecast period due to the presence of large petrochemical companies, the rise of downstream industry and the presence of large tire manufacturers. For example, petrochemical production in the United States is estimated at nearly 100 million tons by 2027. In addition, the North America region saw very significant growth in total government spending. It was observed that the regional expenditure accounted for 22.3% of the total regional GDP in 2019 and increased from there to 32.6% of the GDP in 2020. Hence, it is estimated that this is an important factor to impel the growth of Polybutadiene Market in the region.

The study further considers YOY ​​growth, demand and supply and projected future opportunities in North America (US, Canada), Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands and Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark]Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand). , Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman]North Africa, South Africa, Rest of Middle East and Africa).

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By application, the global polybutadiene market is segmented into tires, polymer modification, industrial rubber and chemicals. Out of these segments, the tire segment is expected to hold the largest share over the forecast period. The growth of this segment is attributed to the effect of polybutadiene on tires such as B. Toughness, good abrasion resistance, cold resistance, high tensile strength, high resilience, tear resistance and durability. In addition, there is an increasing demand for the use of polybutadiene in the manufacture of tires, particularly in the automotive sector, which is expanding rapidly. That The revenue of the global automotive industry has been valued at approximately US$2.5 trillion and is estimated to grow significantly over the forecast period.

Further, by type, the global polybutadiene market is segmented into solid polybutadiene (high-cis, low-cis, high-trans, and high-vinyl) and liquid polybutadiene. Of these, the solid polybutadiene segment is expected to hold a significant market share during the forecast period due to the high demand and production of tires in emerging markets, the launch of new products, and the increasing use in polymer modification applications. It is estimated that global tire production reached about 20 million tons in 2019.

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Some of the prominent players and their company profiles mentioned in the report include ARLANXEO, JSR Corporation, UBE Corporation, Saudi Basic Industries Corporation, LG Corp., SIBUR Holding PJSC, China Petrochemical Corporation, KURARAY CO., LTD., ZEON Corporation , Fineotex Chemical Ltd. and other. Profiling includes growth opportunities, challenges, market trends, and competitive analysis and positioning.

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