According to Future Market Insights, the global polybutadiene rubber market is anticipated to witness significant growth, with a projected compound annual growth rate (CAGR) of 6.2% during the forecast period from 2023 to 2033. Starting at a value of US$ 7.2 billion in 2023, the market is expected to expand to US$ 13.14 billion by 2033, driven by increasing demand and applications across various industries.
The global polybutadiene rubber market has witnessed steady growth in recent years, driven by increased demand in the automotive, industrial, and consumer goods sectors. It is expected to continue growing at a moderate rate in the coming years, fueled by its exceptional performance characteristics and emerging applications.
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Key Market Drivers:
- Automotive Industry: Polybutadiene rubber is a crucial component in the manufacturing of tires, providing superior wear resistance and low rolling resistance. As the automotive industry evolves, there is a growing demand for fuel-efficient and environmentally friendly tires, boosting the demand for PBR.
- Tire Industry: PBR is extensively used in tire manufacturing, especially in high-performance and specialty tires. The demand for specialized tires for electric vehicles, sports cars, and off-road vehicles is on the rise, contributing to the growth of the polybutadiene rubber market.
- Infrastructure Development: Construction and infrastructure development projects require high-quality rubber for applications such as bridge bearings and expansion joints. PBR’s durability and resistance to weathering make it a preferred choice for these applications.
- Consumer Goods: Polybutadiene rubber is used in various consumer products like footwear, sporting goods, and adhesives due to its excellent impact resistance and flexibility. As consumer preferences continue to evolve, the demand for these products is expected to increase.
- Research and Development: Ongoing research and development efforts are resulting in innovative formulations of polybutadiene rubber with enhanced properties. These innovations are opening up new opportunities in industries such as electronics, medical devices, and aerospace.
Top Key Players in the Polybutadiene Rubber Market
- 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)
- Kuraray Co. Ltd (Japan)
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Key Segmentation of the Polybutadiene Rubber Market
By Type:
- Cis- Polybutadiene
- Trans Polybutadiene
By Application:
- Tires Manufacturing
- Footwear
- Wire insulation compounds
- Sporting Accessories
- Tape
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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