Polybutadiene Market Growth Accelerated by Adoption of Polybutadiene in Tire Manufacturing

Polybutadiene Market

 Polybutadiene is a synthetic rubber that is known for its durable properties. It is widely used in the production of tires owing to its strength and flexibility. Tires manufactured using polybutadiene can withstand high temperature and offer good tread wear. Apart from tires, polybutadiene also finds application in hoses, belts, footwear and various automotive components where high durability and flexibility is required. The global polybutadiene market is estimated to be valued at US$ 6.23 Bn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

 

Market Dynamics:

The growth of the polybutadiene market is majorly driven by the rising demand from the tire industry. According to data, the global production of tires reached around 3.5 billion units in 2020. Polybutadiene is used in over 90% of tires produced globally due to its strength and high elasticity properties. The growing automotive industry, coupled with increasing vehicle parc is expected to drive the demand for tires which in turn will boost the consumption of polybutadiene over the forecast period.

 

Another key driver for the market growth is the expanding rubber industry. Polybutadiene has wider applications in production of hoses, belts and various rubber products used in industries like construction, oil and gas etc. Factors such as rapid urbanization and industrialization in developing nations are positively impacting the growth of the rubber industry. This is anticipated to fuel the demand for polybutadiene in rubber goods manufacturing during the forecast period.

 

SWOT Analysis

Strength:

 

- Polybutadiene has high shock absorption and is cost effective making it suitable for various applications like tires, industrial rubber goods etc. Its high resistance to chemicals also makes it durable.

 

- It has excellent flexibility even at sub-zero temperatures due to its crystalline structure. This property allows it to perform well in extreme weather conditions.

 

- The manufacturing process of polybutadiene is standardized and production abilities of key players are well-established. This ensures consistent supply.

 

Weakness:

 

- As polybutadiene is a petroleum-based product, fluctuations in crude oil prices directly impact its price volatility.

 

- Compared to other synthetic rubbers, polybutadiene has lower tensile strength. This can limit its usage in applications requiring high strength.

 

Opportunity:

 

- Growing demand for specialized tires from off-road vehicles, premium cars, and aircrafts offer opportunities for high-value customized polybutadiene formulations.

 

- Usage of polybutadiene in newer applications like footwear, industrial/consumer goods and healthcare products is expanding due to its versatile properties.

 

Threats:

 

- Availability of substitute synthetic and natural rubbers like styrene-butadiene rubber and natural rubber poses competition.

 

- Stringent environmental regulations around emission levels during manufacturing act as a challenges.

 

Key Takeaways

The Global Polybutadiene Market Size is expected to witness high growth. It is being driven by increasing consumption in the tire sector supported by rising vehicle demand across developing nations.

Regional analysis: The Asia Pacific accounts for over 50% market share currently due to huge tire manufacturing capacities, growing automotive sector and availability of key feedstock suppliers. China leads the regional consumption on back of massive vehicle parc and presence of prominent rubber goods makers. India is also witnessing strong growth rate as automobile, electronics and industrial sectors flourish.

Key players operating in the polybutadiene market 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.


Get More Insights Here

https://www.pressreleasebulletin.com/polybutadiene-market-propelled-by-surge-in-tire-production/

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