The global polybutadiene market revenue is expected to expand at a lucrative CAGR over the forecast period. Rising demand for polybutadiene in end-use industries such as automotive and electronics owing to its properties such as high tensile strength and excellent abrasion resistance is expected to be a major factor driving revenue growth of the market. Moreover, increasing R&D activities by polybutadiene manufacturers is expected to support revenue growth over the forecast period.
The global polybutadiene market report has been segmented on the basis of type, application, and region.
On the basis of type, the global polybutadiene market has been segmented into high cis polybutadiene, low cis polybutadiene, high vinyl polybutadiene, and high trans polybutadiene. The low cis polybutadiene segment is expected to grow at a steady rate over the forecast period owing to growing usage of low cis polybutadiene in industrial rubber manufacturing and polymer modification.
On the basis of application, the global target market has been segmented into tire, polymer modification, industrial rubber manufacturing, chemical, and others. The polymer modification segment is expected to witness higher growth rate over the forecast period. Growing demand for performance plastics in various end-use industries is expected to increase demand for polybutadiene in this segment. Moreover, polybutadiene is used in the production of toys, golf balls, and latex.
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On the basis of region, the global polybutadiene market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market is expected to grow at a steady rate over the forecast period. Growing automobile industry in the US and Canada is expected to drive revenue growth of North America polybutadiene market.
Key players operating in the global polybutadiene market include Lanxess AG, JSR Corporation, Synthos S.A., Kumho Petrochemical Co. Ltd., Nippon Soda Co. Ltd., Saudi Arabia Basic Industries Corporation, Synthomer PLC, Evonik Industries AG, Versalis S.p.A., and Reliance Industries Limited.