Liquid Polybutadiene Market Forecast to 2023:
The Liquid
Polybutadiene Market is proliferating pervasively mainly due to the use of this
chemical in the tire manufacturing sector, worldwide. Moreover, extensive applications of liquid
polybutadiene in various rubber goods other than tires such as conveyor belts,
hoses, and gaskets are escalating the market on the global platform.
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Considering
the significant traction, the market is garnering currently; Market Research
Future (MRFR) in its recently published study report asserts that the global
liquid polybutadiene market will garner USD 3,776.5 MN by 2023, registering a
CAGR of 4.85% during the forecast period (2018 – 2023). Transportation is a key
consumer of liquid polybutadiene that accounts for the significant share of the
overall demand for the product.
Liquid
polybutadiene also finds its application in the manufacturing of bumpers, side
wall of tires, rim cushion, and bead filler among others. Furthermore, it
provides excellent electrical insulation and high cold resistance properties by
keeping good flexibility at low temperature, which makes it suitable for
electrical components manufacturing and as an additive in the plastic
production to improve the toughness of plastics.
Additional
factors increasing the size of the market include the increasing demand for the
product from the transportation & the tire manufacturing sector, and the
continually rising demand from the automotive industry. Apart from the tire
manufacturing industry, industrial rubber is another substantial application of
the liquid polybutadiene that is holding 19% of the market share.
On the
other hand, factors such as the stringent environmental regulations regarding
VOC emissions, and the demand and supply gap of raw materials required for the
production of liquid polybutadiene are some of the significant headwinds
impeding the growth of the market. Nevertheless, the rapidly quadrupling
consumer electronic market will support the growth of the market.
Global
Liquid Polybutadiene Market – Segments
For
enhanced understanding, the market has been segmented into three key dynamics:
-
By
Application : Tire Manufacturing, Industrial Rubber,
Polymer Modification, Protective Films, Chemicals, Coatings, and Adhesives
& Sealants among others.
By
End-use : Transportation, Construction, and Industrial
among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Liquid
Polybutadiene Market Regional Analysis
The Asia
Pacific region, heading with the presence of a large number of production
facilities dominates the global liquid polybutadiene market. The region also
accounts for the largest consumer of this chemical due to the rapid
industrialization that occurred over the past few years.
Moreover,
factors such as the high demand for liquid polybutadiene led by some of the
burgeoning industries such as the construction and automotive and the rapidly
developing countries such as India, China, Japan, and South Korea are driving
the growth of the market.
Furthermore,
the increased production from the new market entrants that are investing in
developing new products and application areas for liquid polybutadiene will
help the market to garner huge gains. The market in the APAC region is
projected to grow at the highest CAGR of 5.34% from 2018-2023, reaching USD
1,483.2 MN by the end of 2023.
The liquid
polybutadiene market in the European region accounts for the second-largest
market share, globally. Factors such as the rising renovation and upgradation
projects in the construction industry and the presence of a well-established
automotive industry drive the growth of market massively. Germany among other
European countries accounts for the largest as in 29.70% of the market share in
the regional market and is expected to remain dominant market throughout the
forecast period owing to higher penetration of end-user industries in the
country.
The North
America liquid polybutadiene market accounts for another significant market,
globally. The US dominates the regional market in terms of value and volume.
Rapid industrialization alongside the proliferating end-user sectors such as
the transportation and construction foster the growth of the liquid
polybutadiene market in the region.
Global
Liquid Polybutadiene Market – Competitive Analysis
Highly
competitive, the liquid polybutadiene market appears to be fragmented owing to
the presence of numerous large and small-scale players. The key strategic
initiatives traced from the analysis of recent developments of the key players
include product launch, agreement & partnership, acquisition, and
expansion. Companies are investing in R&D activities for innovations and
new product development, brand building, fostering strong relationships with
their clients to support their competitive position.
Always
looking for a competitive edge, manufacturers operating in the liquid
polybutadiene market apply the science and technologies to deliver competitive
products faster and more efficiently to customers. Manufacturers operating in the market strive
to deliver high-quality products based on the innovative technology that can
improve the manufacturing processes of a business around the world.
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