According to recent market research Polybutadiene Market by Type (Solid Polybutadiene (High Cis, Low Cis, High Trans, High Vinyl), Liquid Polybutadiene), Application (Tires, Polymer modification, Industrial rubber, Chemical), and Region – Global Forecast to 2024″, The polybutadiene market size is expected to grow from USD 10.8 billion in 2019 to USD 13.8 billion by 2024, at a CAGR of 5.1% during the forecast period. The polybutadiene market is driven by tire, polymer modification, and industrial rubber manufacturing industries. However, the fluctuating raw material prices can hinder the growth of the market.
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Polybutadiene is a homopolymer of butadiene that is usually produced by a solution polymerization process. Polybutadiene rubber is the second-largest group of elastomers consumed after synthetic butadiene rubber. It is widely used in the manufacturing of tires. The properties of polybutadiene such as toughness, excellent abrasion resistance, cold resistance, high tensile strength, high resilience, low rolling resistance, low glass transition, and hot tear strength make it suitable for tire manufacturing. The tire industry is experiencing decent growth because of the growing automotive industry. The global market for polybutadiene is projected to register a moderate CAGR during the forecast period. The major applications of polybutadiene are tires, conveyor belts, hoses, chemicals, polymer modification, industrial rubber goods, sporting goods, and footwear products.
Emerging economies such as China, India, Indonesia, and Thailand are experiencing high demand for polybutadiene. Increasing disposable income, huge consumer base, rising urban population, low labour costs, and easy availability of raw materials are attracting global automobile manufacturers to shift their production facilities to the region, thus, creating a high demand for polybutadiene in this region.
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ARLANXEO is one of the leading players in the polybutadiene market. The company has been focusing on expansion and collaboration strategies to maintain its leading position in the market.
ARLANXEO is one of the world’s leading manufacturers in the polybutadiene market with a strong product portfolio and geographic presence across major regions. The company has established competitiveness through significant spending on R&D to develop new and advanced products in the market. Furthermore, the company is collaborating with other organizations to meet varied requirements of the customers. It has aggressive expansion plans to develop new products. It has established a strong reputation in the polybutadiene market.
For example, in July 2019, ARLANXEO announced to expand its R&D efforts into the Kingdom of Saudi Arabia by entering into a collaboration framework with Dhahran Techno Valley Company. The collaboration will involve setting up an elastomers-related R&D center in Dhahran Techno Valley, Saudi Arabia.
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