The global polybutadiene market is estimated to be valued at USD 10.8 billion in 2019 and is projected to reach USD 13.8 billion by 2024, at a CAGR of 5.1% during the forecast period. The demand for polybutadiene in the automotive industry for manufacturing tires is expected to be driven by the growing automotive sales, mainly in the Asian countries such as China and India.
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.
The key players of the polybutadiene market are ARLANXEO (Netherlands), JSR Corporation (Japan), UBE Industries Ltd. (Japan), SABIC (Saudi Arabia), LG Chem Ltd. (South Korea), Versalis SPA (Italy), PJSC SIBUR Holdings (Russia), Sinopec (China), and Kuraray Co. Ltd. (Japan). These companies adopted new product development, joint venture, and expansion as their major business strategies between January 2015 and August 2019 to earn a competitive advantage in the polybutadiene market.
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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.
In July 2018, ARLANXEO announced modernizing the production facility of PBR rubber in Triunfo, Brazil. Post completion of modernization, the company will be able to produce advanced PBR types Nd-BR (neodymium butadiene rubber) by 2020. This will help the company increase its regional presence in the South American market.
ARLANXEO offers polybutadiene products for various applications such as tires, golf ball, sports, band conveyor, belt conveyor, machine & equipment construction, rubber covered roll, seals, side wall, technical rubber goods, wiper, buffers, injection molding, shock absorber, and tubes.
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
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