APAC is expected to hold the largest market size in the polybutadiene market

The report “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 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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APAC is estimated to account for the largest value share of the polybutadiene market in 2019. The market is primarily driven by the strong demand from the automotive industry. China is expected to boost the demand for polybutadiene during the forecast period. Increasing disposable income, huge consumer base, rising urban population, low labor costs, and easy availability of raw materials are attracting automobile manufacturers to shift their production facilities to the region, thus, creating a high demand for polybutadiene in this region.

The objectives of this study are:

• To analyze and forecast the size of the polybutadiene market, in terms of value and volume
• To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
• To define, describe, and forecast the market on the basis of type and application
• To analyze and forecast the polybutadiene market on the basis of key regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America
• To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
• To analyze competitive developments such as capacity expansions, new product developments, joint ventures, and mergers & acquisitions in the polybutadiene market

Key Market Players
The major players in 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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Key Strategies Adopted by Key Industry Players to Achieve Growth in the Polybutadiene Market

The report “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 2022″, The market size of polybutadiene is estimated to grow from USD 6.56 Billion in 2016 to USD 12.71 Billion by 2022, at a CAGR of 5.3% from 2017 to 2022.

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New product launches, mergers & acquisitions, partnerships & joint ventures, agreements, and expansions were the key strategies adopted by key industry players to achieve growth in the polybutadiene market between 2017 and 2022. Factors such as industrial advancements, technological upgrades, and demand for efficient polybutadiene with excellent physical properties, such as high wear resistance, toughness, excellent abrasion resistance, cold resistance, high tensile strength, high resilience, low rolling resistance, low glass transition, and hot tear strength have led to the rising adoption of polybutadiene across various applications. Polybutadiene are used in several industries, mostly automotive and plastics.

Companies operational in the polybutadiene market have adopted strategies such as new product launches, expansions, mergers, and joint ventures to achieve growth in the market. Some of the key players, including Reliance Industries Ltd. (India), Lanxess AG (Germany), UBE Industries ltd. (Japan), SABIC (Saudi Arabia), and Versalis S.p.A. (Italy), have adopted these strategies to develop their businesses globally.

Lanxess AG is a leading player in the global polybutadiene market. As a part of its growth strategy, in April 2016, the company entered into a joint venture with Saudi Aramco (Saudi Arabia) to form ARLANXEO (Netherlands) to produce polybutadiene and synthetic rubber to expand its product portfolio. The company also entered into a partnership with Hankook Tire (South Korea) in August 2015 to develop synthetic rubber technologies for high performance tires. Through these initiatives, the company is focusing on strengthening its position and expanding its product portfolio.

Versalis S.p.A is another major manufacturer of polybutadiene and one of the largest producers across the globe. As a part of its business strategy, Versalis focuses on new product development. The company focuses on manufacturing high quality products by employing state-of-the-art technology and improving efficiency of its operations. In February 2016, the company introduced new, innovative solutions for the rubber segment, including Europrene Neocis BR 450 dry grade, Europrene Neocis BRX 650 oil grade, and Europrene Neocis BRX 35 0E which can deliver green tires for better fuel consumption and environmental sustainability. Versalis is focusing on expanding its polybutadiene business globally through new product developments.

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