Liquid Polybutadiene Market – Market Overview
Polybutadiene is a polymer based synthetic rubber formed by the polymerization of 1, 3-butadiene linkage. It is highly resistant to wear and tear, which enable its application in manufacturing tire, protective films and other coating products. Apart from this, it is also used as an additive in vast number of plastics such as polystyrene and acrylonitrile butadiene styrene (ABS)The major applications of Liquid Polybutadiene includes bumpers, side wall of tires, rim cushion, golf balls and bead filler, among others. Moreover, due to the excellent electrical insulation properties and high cold resistance by keeping good flexibility at low temperature, it is suitable in electrical component parts.
The Global Liquid Polybutadiene Market is projected to reach USD 3,776.5 million till 2023, expanding at CAGR of 4.85% during review period. The primary factor favoring this growth is an increasing demand of the product from transportation sector. The tire manufacturing segment holding the largest market share, as of 2016 and is growing at a highest CAGR of 5.31% during the forecast period. During the years to follow, this segment is anticipated to remain dominant due to the rise in demand from automotive industry. Regionally, Asia Pacific held the largest market share in 2016, and is growing at the highest CAGR of 5.34% to reach USD 1,483.2 million by the end of 2023. The major factor favoring growth of this region is the rapid industrialization, along with presence of considerable number of producers coupled with cheap labor cost. However, the fluctuations in the raw material prices is anticipated to hamper market growth.
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Industry/ Innovation/ Related News:
June 29, 2017- Total Cray Valley introduced a new PolyFarnesene diol in line of Krasol- brand and Ricon-brand which is liquid polybutadiene resin. It is based on trans-β-farnesene, a renewable alternative to petroleum-based feedstocks like butadiene. Krasol F 3000 can replace polyether and polyester diols.
February 20, 2017– Kuraray Co., Ltd. has developed liquid farnesene rubber for tire manufacturing. Sumitomo Rubber Industries, Ltd. has adopted liquid farnesene rubber (LFR) as performance enhancing additive in studless tire WINTER MAXX 02. This LFR is developed by Kuraray using bio-technology derived monomer called Farnesene with help of Amyris, Inc.
September 15, 2016- Kuraray Co. Ltd, Sumitomo Corporation and PTT Global Chemical (Thailand) signed MOU for joint study for potential development of Butadiene derivatives in Thailand. In this Kuraray will pursue the global expansion for butadiene and isobutene derivatives along with competitive supply of raw materials.
February 16, 2016- Versalis and Genomatica has successfully advanced pilot scale production of bio-butadiene which is used to produce bio-polybutadiene (bio-BR). These bio-butadiene is produced from feedstock of sugars rather than hydrocarbon feedstock. The project started in 2013. The company aims to demonstrate its compatibility with downstream plastic technologies such as styrene butadiene rubber (SBR), styrene-butadiene-styrene rubber (SBS) and Acrylonitrile Butadiene-Styrene (ABS).
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Key Findings:
The Global Liquid Polybutadiene Market is projected to reach USD 3,776.5 million by 2023 with 4.85% CAGR during the review period 2017-2023. Asia Pacific market is accounted for largest share and estimated to grow at CAGR of 5.34% to reach USD 1,483.2 million by 2023. The Global Liquid Polybutadiene Market is a fragmented market, however, tier 2 manufacturers dominate the market. China is the largest producer and consumer of Liquid Polybutadiene and accounts for 42.8% of the overall production of Liquid Polybutadiene.
Key Players:
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) are some of the prominent players at the forefront of competition in the global liquid polybutadiene market and are profiled in MRFR Analysis.
Liquid Polybutadiene Market- Competitive Landscape
The Global Bioresorbable Chemical Market is witnessing rapid growth primarily driven by growing consumer awareness and rising global sentiments in favor of environmental. Kuraray Co. Ltd., Evonik Industries AG, Versalis S.p.A are the key players in this market. These manufacturers are engaged in adopting the collaboration tactics and launch of new products to have substantial share in the market and meet the growing demand form major end users. Growing transportation sector, and continuous collaborations and agreements between manufacturers, distributers, and marketing firms are prominent factors favoring growth of liquid polybutadiene in the global market. Taking these competitive trends into account the Global Liquid Polybutadiene Market is expected to foresee considerable competition during the review period of 2017-2023.
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