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Increase in Usage of Liquid Polybutadiene in Various Sectors Fuel Market Growth

The volatile organic compound (VOC) is in an abatement, resulting in significant pressure for solvent-based coatings mostly used worldwide. Many applications to date demand better performance of a solvent-based coating. However, the decline in critical features such as viscosity has become more important over the years. Liquid polybutadiene (LPBD), a highly reactive liquid polymer, is a solvent-free coating formulation. These polymers have the same properties as other natural drying oils but are highly unsaturated. Due to this, the cure rate of LPBDs is faster than most natural oils and can also be stimulated using metal dryers.

The ongoing demand for chemical resistance is driving the liquid polybutadiene (LPBD) market. The liquid polybutadiene (LPBD) market report suggests rise in worldwide usage of liquid polybutadiene in various sectors including tire and rubber manufacturers in the upcoming years. The market is expected to surpass the revenue of US$ 4.5 Bn by 2031, at a CAGR of ~5% during the forecast period.

The rise in the use of plastic in the liquid polybutadiene (LPBD) market has been witnessed in recent years and is anticipated to grow in the near future. The increasing use of liquid polybutadiene in thermosetting plastic materials, curing, and handling by processes, such as for polyester resins, is contributing to the growth of the liquid polybutadiene (LPBD) market. However, strict regulations due to the impact of plastic on the environment can hamper the growth of the plastic segment. The rise in the production of biodegradable plastic and petroleum-based plastics can contribute in overcoming environmental restraints.

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Rise in Production Rate of Automobiles, Tire to Drive Liquid Polybutadiene (LPBD) Market

Synthetic rubbers are the byproducts of petroleum mostly used for its viscoelasticity. Liquid polybutadiene rubber is popularly used in tire components such as treads, rims, apex, and carcasses. As liquid polybutadiene is playing a significant role in tire manufacturing, with the rise in the number of vehicle sales, the liquid polybutadiene (LPBD) market is also expected to thrive during the forecast period.

Liquid polybutadiene holds a significant share of the automotive segment. The electric vehicle stocks segment is expected to increase by ~36% annually and can sell up to 245 million vehicles by 2030.  Developing countries including India, Brazil, and China are witnessing an increase in demand for automobiles, which is estimated to influence the expansion of the global liquid polybutadiene (LPBD) market.

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Regional Advantages of Asia Pacific Offer Lucrative Opportunities to Various Industries for Mutual Expansion

The liquid polybutadiene (LPBD) market is driven by various factors with the presence of several key players in the market. Several businesses are espousing strategies such as expansion through partnerships and agreements. For instance, Kuraray Co. Ltd, Sumitomo Corporation, and PTT Global Chemical (Thailand), in 2016, signed a MoU for a shared study for the potential expansion of butadiene derivatives in Thailand. These companies are also pursuing the global market for polybutadiene in the upcoming future.

Moreover, the liquid polybutadiene (LPBD) market in Asia Pacific is anticipated to expand at a significant rate during the forecast period. Many key manufacturers of liquid polybutadiene such as Nippon Soda Co. Ltd, Idemitsu Kosan Co. Ltd, and Kuraray Co. Ltd are based in the Asia Pacific, thus driving the regional market. In addition, the demand for liquid polybutadiene is expected to rise in Europe during the forecast period.

Limited Workflow Due to COVID-19 Pandemic Affecting Liquid Polybutadiene Market

Apart from various factors fueling the production of liquid polybutadiene, there is a growth in the demand due to the popularity of bio-adhesives, and the widening use of bio-based elements in tire production. It is expected to positively impact the growth of the liquid polybutadiene (LPBD) market.

However, the volatility of crude oil and raw materials prices, and the ongoing COVID-19 pandemic are expected to hinder the liquid polybutadiene (LPBD) market growth during the forecast period. The plastic segment may face several regulatory issues in various regions due to its non-degrading nature. However, as several new industries are finding their uses of liquid polybutadiene, the market is likely to rise overall during the projected timeframe.

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Analysts’ Viewpoint

Besides manufacturing, the construction industry is one of the leading consumers of liquid polybutadiene. The increasing demand for automobiles and tire manufacturing is influencing the growth of the liquid polybutadiene (LPBD) market. However, external factors such as fluctuations in raw material prices and COVID-19 limitations for workers may limit market growth in some regions. Nonetheless, upcoming construction projects in the Middle East & Africa and Asia can would offer opportunities to overcome the potential restraints. The market players are joining forces to expand their footprint in various new regions, which is likely to drive the demand for liquid polybutadiene.

Liquid Polybutadiene (LPBD) Market: Overview

  • Liquid polybutadiene is utilized as a binder for recycled rubber compounds, modifier in carbon black filled EPDM compounds, and plasticizer in rubber compounds. Liquid polybutadiene possesses high resistance to wear, and is employed in the manufacture of tires, which constitutes about 70% of the production.
  • Liquid polybutadiene exhibits good electrical insulating properties. Liquid polybutadiene resins are used as co-agent and modifier for elastomers (including chlorinated rubbers, electro coatings)
  • According to Transparency Market Research’s latest research report on the global liquid polybutadiene (LPBD) market for the actual year 2020, and the forecast period 2021 to 2031, rise in usage of liquid polybutadiene (LPBD) in tire manufacturing and rubber & elastomer manufacture is a key factor that is expected to boost the global liquid polybutadiene (LPBD) market during the forecast period
  • In terms of revenue, the global liquid polybutadiene (LPBD) market is expected to surpass the value of US$ 4.5 Bn by 2031, expanding at a CAGR of ~5% during the forecast period

Rise in Demand for Tire Manufacturing: Key Driver of Liquid Polybutadiene (LPBD) Market

  • Currently, liquid polybutadiene (LPBD) is extensively employed in the fabrication of tire and synthetic rubber. Polybutadiene (butadiene rubber BR) is a synthetic rubber. Polybutadiene rubber is a polymer formed from the polymerization of the monomer 1,3-butadiene. Polybutadiene possesses high resistance to wear and is employed in the manufacture of tires, which constitutes about 70% of the production.
  • According to IEA, sales of electric cars reached 2.1 million, globally, in 2019 to boost the stock to 7.2 million electric cars. Electric cars accounted for 2.6% of global car sales and about 1% of global car stock in 2019, which registered a 40% year-on-year growth. The global electric vehicle stocks (excluding two/three-wheelers) are estimated to increase by 36%, annually, reaching 245 million vehicles by 2030.
  • Increase in consumption of tires in the automotive industry is projected to propel the liquid polybutadiene (LPBD) market during the forecast period

Rise in Application of Liquid Polybutadiene (LPBD) in Tire Manufacturing

  • In terms of value, the tire manufacturing application segment is estimated to dominate the global liquid polybutadiene (LPBD) market during the forecast period. The segment is likely to expand at a CAGR of 5.2% between 2021 and 2031. The segment is estimated to maintain its dominance during the forecast period.
  • Liquid polybutadiene (LPBD) is widely used in the manufacture of tires due to its physical properties such as high resistance to wear, excellent thermal stability, etc.
  • Demand for automotive, such as passenger and commercial vehicles, is increasing across the world, which, in turn, is driving the consumption of tires. This factor is anticipated to propel the consumption liquid polybutadiene (LPBD) for tire manufacturing.

Automotive Dominates Liquid Polybutadiene (LPBD) Market

  • In terms of end use, the automotive segment held a major share of the liquid polybutadiene (LPBD) market in 2020, followed by housing and construction segments
  • Increase in demand for automobiles and their production in developing economies, such as China, India, Brazil, etc., is estimated to boost the liquid polybutadiene market across the globe
  • Substantial expansion of automotive and construction industries across the globe, especially in Asia Pacific, is expected to boost the demand for liquid polybutadiene (LPBD) during the forecast period

Liquid Polybutadiene (LPBD) Market: Competition Landscape

  • Detailed profiles of providers of liquid polybutadiene (LPBD) have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global liquid polybutadiene (LPBD) market are
    • Kuraray Co., Ltd.
    • Evonik Industries AG.
    • ​Synthomer plc.
    • NIPPON SODA CO., LTD.
    • SABIC.
    • SIBUR
    • Idemitsu Kosan Co.,Ltd.
    • Cray Valley
    • ARLANXEO

Liquid Polybutadiene (LPBD) Market: Key Developments

  • Key providers of liquid polybutadiene (LPBD), such as Kuraray Co., Ltd., Evonik Industries AG., Evonik Industries AG., and ARLANXEO are focusing on research & development, mergers, joint ventures, collaborations, and product innovation of liquid polybutadiene (LPBD). Major developments in the global liquid polybutadiene (LPBD) market are highlighted below:
    • On February 192021, SIBUR announced the expansion of its development and innovations team in order to engage their international experts in managing new technologies and products with their expertise in petrochemical business
    • On December 2017, Kuraray Co., Ltd. has developed liquid farnesene rubber for tire manufacturing. Sumitomo Rubber Industries, Ltd. has adopted liquid farnesene rubber (LFR) as performance enhancing additive in stud less tire WINTER MAXX 02. This LFR is developed by Kuraray using bio-technology derived monomer called Farnesene with help of Amyris, Inc
    • In 2016, Kuraray Co. Ltd, Sumitomo Corporation, and PTT Global Chemical (Thailand) signed a MoU for joint study for potential development of butadiene derivatives in Thailand. Kuraray is expected to pursue global expansion for butadiene, along with competitive supply of raw materials.
  • In the global liquid polybutadiene (LPBD) market report, we have discussed individual strategies, followed by company profiles of providers of liquid polybutadiene (LPBD). The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global liquid polybutadiene (LPBD) market.

Liquid Polybutadiene (LPBD) Market – Scope of the Report

The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global liquid polybutadiene (LPBD) market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the expansion of the global liquid polybutadiene (LPBD) market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global liquid polybutadiene (LPBD) market would expand during the forecast period of 2021 to 2031.

The report offers intricate dynamics about different aspects of the global liquid polybutadiene (LPBD) market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global liquid polybutadiene (LPBD) market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global liquid polybutadiene (LPBD)  market and estimates statistics related to growth of the market in terms of volume (Kilo Tons)  and value (US$ Mn).

This study covers a detailed segmentation of the global liquid polybutadiene (LPBD) market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global liquid polybutadiene (LPBD) market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on Liquid Polybutadiene (LPBD) Market

The report provides detailed information about the global liquid polybutadiene (LPBD) market on the basis of a comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global liquid polybutadiene (LPBD) market, so as to help them design successful strategies and make target-driven decisions.

  • Which application segment of the global liquid polybutadiene (LPBD) market would emerge as a major revenue generator during the forecast period?
  • How are key market players successfully earning revenue out of advantages of liquid polybutadiene (LPBD)?
  • What would be the Y-o-Y growth trend of the global liquid polybutadiene (LPBD) market between 2021 and 2031?
  • What are the winning imperatives of leading players operating in the global liquid polybutadiene (LPBD) market?
  • Which technology segment is expected to create lucrative opportunities for the global liquid polybutadiene (LPBD) market during the forecast period?
  • Which are the leading companies operating in the global liquid polybutadiene (LPBD) market?

Research Methodology – Liquid Polybutadiene (LPBD) Market

The research methodology adopted by analysts for compiling the global liquid polybutadiene (LPBD) market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible sources, analysts have offered riveting observations and authentic forecasts for the global liquid polybutadiene (LPBD) market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global liquid polybutadiene (LPBD) market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global liquid polybutadiene (LPBD) market.

Liquid Polybutadiene (LPBD) Market – Segmentation

TMR’s research study assesses the global liquid polybutadiene (LPBD) market in terms of end use, application, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global liquid polybutadiene (LPBD) market.

End Use
  • Automotive
  • Chemical
  • Industrial
  • Housing & Construction
  • Electronics
  • Others (Sports, etc.)
Application
  • Adhesives & Sealants
  • Rubber Compounds & Elastomers
  • Tire Manufacturing
  • Electrical Insulation
  • Polymer/Resin Modification
  • Paints & Coatings
  • Others (Plasticizer, Protective Films, etc.)
Region
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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Liquid Polybutadiene Market