The report “Polybutadiene Marketby Type (Solid Polybutadiene (High Cis, Low Cis, High Trans, High Vinyl), Liquid Polybutadiene), Application (Tires, Polymer modification, Industrial rubber, Chemical), and Region – Global Forecast to 2024″, The polybutadiene market size is expected to grow from USD 10.8 billion in 2019 to USD 13.8 billion by 2024, at a CAGR of 5.1% during the forecast period. The polybutadiene market is driven by tire, polymer modification, and industrial rubber manufacturing industries. However, the fluctuating raw material prices can hinder the growth of the market.
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Tire application accounts for largest market size during forecast period
The tire industry is expanding due to the growing automotive industry. It accounted for the largest share of the overall polybutadiene market. Furthermore, this segment is estimated to grow significantly during the forecast period. Polybutadiene is widely used in tire manufacturing due to its toughness, good abrasion resistance, cold resistance, high tensile strength, high resilience, tear resistance, and durability.
Recent Developments
In February 2019,SIBUR decided to launch an investment project aimed at enhancing polybutadiene rubber (Nd-BR) production efficiency at its Voronezh facility (Voronezhsintezkauchuk). The project aims for a large-scale upgrade to boost operational efficiency of the existing facility and ensure production of consistently high quality of products. This project will enable SIBUR to produce quality products with improved operational efficiency.
ARALNXEO (Netherlands), UBE Industries Ltd (Japan), JSR Corporation (Japan), Kumho Petrochemical Co. Ltd (South Korea), Reliance Industries Ltd. (India), SABIC (Saudi Arabia), LG Chem Ltd (South Korea), Versalis SPA (Italy), PJSC SIBUR Holdings (Russia), Sinopec (China), and Kuraray Co. Ltd (Japan) are some of the major manufacturers of the polybutadiene market. The study includes in-depth competitive analysis of these key players in the polybutadiene market, with their company profiles, recent developments, and key market strategies.
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