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Liquid Polybutadiene is a chemical compound that carries low volatile organic compounds (VOCs). Market Research Future (MRFR) has published a research report regarding the Global Liquid Polybutadiene Market that forecasts increase in this market with 4.85% CAGR (Compound Annual Growth Rate) between 2017 and 2023. In terms of cash, this market is expected to be worth the US $ 3,776.5 mn during the forecast period.The Global Liquid Polybutadiene Market is driven primarily by growing consumer awareness and rising global concern in favor of environment-friendly products. These manufacturers are adopting the collaboration tactics in order to launch new products and occupy a substantial share in the market so that the growing demand form major end users can be met. Other factors driving market growth include the growth of the transportation sector, and continuous collaborations and agreements between manufacturers, distributors, and marketing firms.
The segmentation of the Global Liquid Polybutadiene Market has been done on the basis of application, end use, and lastly, by region. The application-based segmentation segments this market into adhesives & sealants, chemicals, coatings, industrial rubber, polymer modification, protective films, tire manufacturing, and others. Among all applications, the tire manufacturing applications hold the largest market share, and it is expected to grow at the highest CAGR of 5.31% during the forecast period. The second largest share in the market is held by industrial rubber application that holds 19% market share.
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As per the end use, the market has been segmented into construction, industrial, transportation, and others. During the forecast period, the transportation segment is expected to hold the largest market share. By the end of the forecast period, the worth of this market is expected to be US $ 1,548.3 mn. The second largest market share is held by the construction industry segment. Both of these segments are expected to grow during the forecast period.
The regional segmentation of the Global Liquid Polybutadiene Market segments the market into the continent-based regional markets known as North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa (MEA). Among these regional markets, Asia Pacific is the largest regional market. By the end of the forecast period, this market has been projected to grow with a CAGR of 5.34% and to be worth the US $ 1,483.2 mn. Factors aiding the market growth in this region include the cheap labor cost, the presence of a considerable number of producers, and the rapid industrialization in this region. The important regional markets in this region are China, India, and Japan, followed by the rest of the Asia Pacific region.
Europe is the second largest regional market due to the rising renovation and repair in the construction industry. Among all country-specific markets, Germany held the largest market share of 29.70% in Europe, and it is expected to remain a dominant market till the end of forecast period because many end-user industries are penetrating the German economy. Other country-specific markets in this region are France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the rest of Europe.
North America is another significant regional market. The United States of America (USA) is the major country-specific market in this region, in terms of value and volume, followed by Canada. The automotive sector in North America, especially in the USA, is an established sector and a strong market. Therefore, North America can be a strong and stable market.
Latin America and the MEA region are expected to grow at a moderate rate during the forecast period. Latin America, the strong economies that can be ideal markets are Brazil and Mexico, followed by the rest of Latin America. In the MEA region, the primary country-specific markets are Saudi Arabia and the United Arab Emirates (UAE).
Key Players
The key players in the Global Liquid Polybutadiene Market include Cray Valley (France), Evonik Industries AG (Germany), Idemitsu Kosan Co.,Ltd. (Japan), NIPPON SODA CO., LTD (Japan), Kuraray Co. Ltd (Japan), SIBUR International GmbH (Austria), and Versalis S.P.A (Italy).
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