The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Polybutadiene (BR) Global Market Report 2024, the polybutadiene (BR) market is expected to show significant growth in the forecast period.

The polybutadiene (BR) market has exhibited robust growth, escalating from $21.44 billion in 2023 to an anticipated $23.57 billion in 2024, registering a noteworthy Compound Annual Growth Rate (CAGR) of 10.0%. This growth in the historic period can be attributed to the pivotal role of polybutadiene in tire manufacturing, rubber goods production, adhesives, sealants, and as an impact modifier.

Navigating Future Expansion

Anticipating strong growth ahead, the polybutadiene (BR) market is projected to reach $33.23 billion in 2028, driven by a CAGR of 9.0%. Key factors fueling this growth in the forecast period include the adoption of green and sustainable materials, the growth of the automotive industry, tire industry innovations, and increased demand for advanced rubber goods. The market is poised to witness several major trends during this period.

Key Trends in the Forecast Period

• Bio-Based Polybutadiene: Growing emphasis on sustainable sourcing and production.
• High Cis Polybutadiene: Enhanced properties for improved performance.
• Customized Polymer Blends: Tailoring polymer properties for specific applications.
• Recycled Polybutadiene: Addressing environmental concerns with recycled materials.

Polybutadiene’s Crucial Role in High-Performance Tires

The increased utilization of polybutadiene in the production of high-performance tires has been a significant driver for market growth. Approximately 70% of the world’s polybutadiene production finds its application in tire manufacturing. Post the curing process, polybutadiene exhibits distinct properties, including abrasion resistance, low rolling resistance, and poor wet traction due to its low glass transition temperature. Major companies like UBE Industries manufacture polybutadiene, contributing to the production of tires with exceptional physical properties such as rebound, tensile strength, and heat buildup.

Key Market Players

• LG Chem Ltd.
• Versalis SPA
• China Petroleum & Chemical Corporation
• JSR Corporation
• Reliance Industries Limited
• Lanxess AG
• Kumho Petrochemical Co. Ltd.
• Goodyear Tire & Rubber Company
• UBE Industries Ltd.
• Synthos SA

Major Players Expanding Production Capacities

To meet the surging demand for polybutadiene, major companies are strategically expanding their production capacities. In February 2023, Arlanxeo LLC inaugurated a 65-kilotonne per annum polybutadiene rubber plant in Brazil. This move was part of Arlanxeo’s commitment to Latin America, aiming to strengthen its presence in the region. The increased production capacity is geared toward meeting the growing demand, offering a wider product range, creating job opportunities, and contributing to the local economy.

Arlanxeo’s Expansion Highlights

• New Production Plant: 65-kilotonne per annum polybutadiene rubber plant in Brazil.
• Capacity Increase: From the new line, overall capacity increased to 150 ktpa.
• Strategic Commitment: Reinforcing Arlanxeo’s commitment to Latin America.
• Economic Boost: Job creation and a positive impact on the local economy.

View More On The Polybutadiene (BR) Market Report 2024 – https://www.thebusinessresearchcompany.com/report/polybutadiene-br-global-market-report

European Approval Spurs Expansion and Modernization

In September 2022, Naftna Industrija Srbije (NIS), a Serbian oil and gas company, received approval from the European Commission to acquire HIP-Petrohemija LLC Pancevo (HIPP). This acquisition paves the way for NIS to embark on a journey of expansion and modernization in collaboration with HIP Petrohemija, a key player in petrochemicals and synthetic rubber manufacturing.

NIS and HIP Petrohemija Collaboration

• EU Approval: Granted for NIS to acquire HIP-Petrohemija LLC Pancevo (HIPP).
• Strategic Vision: Expansion and modernization of production capacities.
• Focus Areas: Developing new plants and enhancing energy and business efficiency.

Market Segmentation: Understanding Diversity

The polybutadiene (BR) market is segmented based on product type, sales, and industry verticals, offering a comprehensive view of its diverse applications.

1. Product Type:
   • Solid Polybutadiene
   • Liquid Polybutadiene
2. Sales:
   • Online
   • Offline
3. Industry Vertical:
   • Tire
   • Automotive
   • Chemical
   • Industrial Rubber Manufacturing
   • Other Industry Verticals

Asia-Pacific Dominates the Market

In 2023, Asia-Pacific emerged as the largest contributor to the polybutadiene (BR) market, underscoring the region’s dominance in steering market dynamics. With a robust presence and continued growth, Asia-Pacific is expected to maintain its lead during the forecast period.

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The Polybutadiene (BR) Global Market Report 2024  provides an in-depth analysis on the polybutadiene (BR) market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the polybutadiene (BR) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Butadiene Global Market Report 2023

Synthetic Rubber And Fibers Global Market Report 2024

Ethylene Propylene (EPDM) Global Market Report 2024

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