Liquid Polybutadiene (LPBD) Market: Introduction
Transparency Market Research delivers key insights on the global liquid polybutadiene (LPBD) market. In terms of revenue, the global liquid polybutadiene (LPBD) market is estimated to expand at a CAGR of ~5% during the forecast period, owing to numerous factors regarding which, TMR offers thorough insights and forecasts in its report on the global liquid polybutadiene (LPBD) market.
The global liquid polybutadiene (LPBD) market is broadly affected by several factors, including fluctuation in prices of raw materials due to volatility in crude oil prices. Major applications for liquid polybutadiene in the tire industry include tire treads, tire carcass and sidewalls, under-treads, and cycle tires. The expansion of the tire industry is projected to boost the demand for liquid polybutadiene from tire manufacturers during the forecast period.
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Liquid Polybutadiene (LPBD) Market: Dynamics
Applications of liquid polybutadiene in the construction industry include insulated glass sealants, binder of dusty and dry quartz sand, binder for soil stabilization, and modifier of silicone sealants. Adhesives based on sulfur-cured liquid polybutadiene polymers can be formulated to suit a wide range of applications from joint sealing to structural bonding. The overall boost in the construction industry signifies high demand for adhesives and sealants over the next few years, which is estimated to boost the liquid polybutadiene market.
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Liquid polybutadiene is extensively utilized for the manufacture of tires in the automotive industry due to characteristics such as ability to control grip, high resistance to wear and tear, superior performance, high fuel-efficiency, and longer shelf life as compared to normal rubber.
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The demand for automotive vehicles, including passenger and commercial vehicles, is increasing across the world. The consistent demand is significantly boosting manufacturing and sales of automotive vehicles. Ongoing shift from conventional fuel automobiles to electric vehicles in the market is also estimated to propel the demand for tires. Factors mentioned above are projected to boost the demand for liquid polybutadiene during the forecast period.
Liquid Polybutadiene (LPBD) Market: Prominent Regions
Asia Pacific dominates the global liquid polybutadiene (LPBD) market. The market in the region is anticipated to expand at a CAGR of 5.6% during the forecast period. The demand for liquid polybutadiene is primarily driven by the presence of leading automotive manufacturers in Asia Pacific such as India, China, Japan, and South Korea. The presence of key producers of liquid polybutadiene (LPBD), such as Kuraray Co., Ltd, NIPPON SODA CO., LTD, Idemitsu Kosan Co. Ltd, and Evonik Industries AG are located in Asia Pacific, which, in turn, is driving the market.
Europe is also a key consumer of liquid polybutadiene (LPBD) across the globe. The presence of well-established liquid polybutadiene (LPBD) manufacturers in the region is driving the demand for liquid polybutadiene (LPBD) in Europe. The rise in usage of synthetic rubber in the rubber industry, owing to volatility in prices of natural rubber, has indicated the expansion in Europe. The usage of liquid polybutadiene as co-agent in the manufacturing process is expected to significantly drive the market in Europe.
Liquid Polybutadiene (LPBD) Market: Key Players
The global liquid polybutadiene (LPBD) products market was consolidated with the presence of key players. Prominent players operating in the global liquid polybutadiene (LPBD) market are Kuraray Co., Ltd., Evonik Industries AG., Evonik Industries AG., Synthomer plc., NIPPON SODA CO., LTD., SABIC., SIBUR, Idemitsu Kosan Co.,Ltd., Cray Valley, and ARLANXEO.