Polybutadiene Market Anticipated to Witness High Growth Owing to Rising Applications in Tires and Rubber Industry
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Polybutadiene Market |
Polybutadiene, commonly known as
butadiene rubber or BR, is a synthetic rubber produced from butadiene. It is
known for its excellent flexibility, tensile strength and resistance to
abrasion. Polybutadiene finds extensive applications as a raw material in tire
and rubber products manufacturing. Its low rolling resistance and high traction
properties make it suitable for tire treads. Other key applications of
polybutadiene include hoses, belts, gaskets and footwear.
The Global Polybutadiene Market
is estimated to be valued at US$ 6.23 Bn in 2024 and is expected to exhibit a
CAGR of 8.8% over the forecast period 2024 to 2030.
Rising automotive production
along with growing demand for affordable and fuel-efficient tires is a major
growth driver for polybutadiene demand. Replacement of aging vehicles also
supports market growth.
Key Takeaways
Key players operating in the Global
Polybutadiene Market Size are Envista Holdings Corporation, Planmeca
Oy, Acteon Group, DENTSPLY Sirona, Carestream Dental, VATECH Co. Ltd., Owandy
Radiology, Durr Dental SE, Midmark Corporation, Genoray Co. Ltd., Asahi
Roentgen Co. Ltd., 3Shape, PreXion Inc., Cefla Medical Equipment, Apteryx
Imaging (Canada), Yoshida Dental Mfg. Co. Ltd, and Align Technology Inc.
The polybutadiene market offers
significant growth opportunities particularly in developing economies
experiencing rapid automobile production and sales growth in Asia Pacific and
Latin America. Key market players are investing in capacity expansions to tap
the potential offered by emerging markets.
Global polybutadiene demand is
expanding as major market players pursue geographic and capacity expansion
strategies. Manufacturers are setting up new production facilities worldwide to
meet the rising demand from international rubber product manufacturers.
Market drivers:
- Growing automobile production
and sales, particularly in developing nations owing to rising disposable
incomes and economic growth. Tires remain a key end-use sector for
polybutadiene.
- Replacement demand for aging
vehicles fleet helps sustain polybutadiene consumption over the long term.
Market restraints:
- Increased preference for
fuel-efficient and eco-friendly materials like silica in tire manufacturing
limits polybutadiene use to some extent.
- Volatility in crude oil and
butadiene prices poses risks to stable polybutadiene supply and manufacturing
costs.
Segment Analysis
The polybutadiene market is
dominated by the styrenic segment which accounts for over 50% of the total
market share. Styrenic polybutadiene is useful for manufacturing tires as it
imparts good wear resistance, traction and low rolling resistance properties.
These special characteristic makes them preferred in the tire industry.
Global Analysis
The Asia Pacific region dominates
the global polybutadiene market and accounted for over 45% of the total market
share in 2024. China is the largest producer and consumer of polybutadiene
owing to large scale tire manufacturing in the country. The demand for
polybutadiene is expected to grow rapidly in Asia Pacific due to increasing
automotive sales driven by emerging economies like India and Indonesia. North
America is another major market for polybutadiene owing to stable demand from
the tire industry. Stringent environmental regulations regarding fuel
efficiency and low rolling resistance in countries like the US and Canada
drives the polybutadiene consumption.
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https://www.newsanalyticspro.com/polybutadiene-market-size-share-growth-outlook-2023/
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