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Liquid Polybutadiene Market

Liquid Polybutadiene Market

Liquid Polybutadiene Market By Application (Rubber Manufacturing, Adhesives & Sealants, Polymer Modification), By End-use (Elastomers, Adhesives, Construction, Printing & inks), By Region - Global Market Insights 2021 to 2031

Liquid Polybutadiene Market
FACT4143MR

Market Outlook for Liquid Polybutadiene

The global liquid polybutadiene market is projected to expand at a healthy CAGR of over 6% throughout the 2021-2031 forecast period, with application in rubber manufacturing growing the fastest over the coming years.

Liquid polybutadiene is a transparent and colourless chemical compound that is a highly reactive counterpart of solid polybutadiene. It is extensively used in formulating paint & coating intermediates. Owing to the hydrophobic nature of liquid polybutadiene, demand for liquid polybutadiene from the electronics industry is also rising. Moreover, it is used to modify polymers to change the properties of the product produced or to enhance its performance. Furthermore, liquid polybutadiene is available in two variants - LPBD-A and LPBD-B. These two variants differ with respect to vinyl content. Application of both liquid polybutadiene variants has been explained in detail in the recently published report by Fact.MR.

The compound is also ideal for tire manufacturing because of its superior property of high resistance to wear. Apart from tire manufacturing, it is also used for manufacturing several products such as bumpers, rim cushions, sidewall of tires, and bead fillers, which is set to provide an impetus to market growth.

The primary goal of Fact.MR's report on the liquid polybutadiene (LPBD) market is to provide insights on demand generators, market scenario, and technological advances in the field. The report also provides a breakdown detailing major sectors, which identifies insights into market dynamics, including the drivers, restraints, opportunities, trends, and price analysis, as well as key success factors. Market trends have been tracked in more than 20 high-growth countries, indicating that countries in North America, East Asia, and Europe have the largest share of the market. Fact.MR has detailed information about key liquid polybutadiene suppliers such as Evonik Industries AG, Nippon Soda Co., Ltd, Synthomer, TOTAL Cray Valley, and many more in its report.

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Historical Trends Vs Future Market Projections

Over the past half-decade, extensive consumption of rubber increased the market value of liquid polybutadiene. Gradual integration of liquid polybutadiene in rubber manufacturing has paved market growth over the same period. Key manufacturers utilizing liquid polybutadiene for manufacturing rubber are Michelin, Bridgestone, and Sumitomo Rubber Corporation. A number of large- and small-scale manufacturers have strengthened market expansion over the same period.

The COVID-19 pandemic squeezed the market for liquid polybutadiene in the first two quarters of 2020, owing to demand diminution mainly from the elastomers industry and paints & coatings industry. However, rise in demand across various industries in the fourth quarter of 2020 has provided impetus to market growth.

Market growth over the long-term forecast period has been evaluated by dividing the term (2021-2031) into three main periods. They are short-run, medium-run, and long-run.

Short-run: Growth of the market is anticipated to bolster with demand inclination from a number of applications of liquid polybutadiene over the first quarter of 2021 to the fourth quarter of 2023. The market will observe balanced growth over the same period.

Medium-run: Over the medium term, the market will grow at a nominal rate. Several regions such as East Asia and Europe will be witnessing increased demand.

Long-run: Considering the growing demand for liquid polybutadiene in rubber manufacturing and several other applications, the market will show a different outlook by 2031.

How is growing demand for moisture-resistant electronics increasing the need for liquid polybutadiene?

Key electronic product manufacturers market their products as moisture- and water-resistant or water-repellent. Consumers are preferring water-resistant devices to enhance the life of the product and lower the overall spending. This cascades the effect to manufacturers, as they tend to incline towards inexpensive, yet lucrative hydrophobic formulations. One such formulation is utilizing liquid polybutadiene as a precursor for processing hydrophobic films and compounds.

Growing hydrophobic films market set to bolster demand for liquid polybutadiene over the long-run forecast period. Moreover, increase in the need for inexpensive, low-cost formulations preferred by manufacturers will strengthen market potential by 2031.

liquid polybutadiene market application

How is the paints & coatings industry set to bolster demand for liquid polybutadiene?

According to Fact.MR insights, the paints and coatings market was evaluated at US$ 125 Bn in FY2020, and is anticipated to grow at a CAGR of more than 4% over the long-run forecast period. Paints & coatings are channeled under various resins in the market, such as vinyl acetate, pure acrylic, acetate, styrene acrylic, and alkyd resins. Of these, alkyd is set to capture a majority of the market share. Dominance of alkyd resin in the coatings market is due to its versatile application, but at the same time, it comes at a higher price point as compared to liquid polybutadiene.

Liquid polybutadiene is used in formulating coatings to reduce the content of overall solvent for the final coating formulation. Currently, liquid polybutadiene-A is majorly channeled in the market, but higher vinyl content liquid polybutadiene is gaining traction in the coatings industry. All in all, growth of the paints and coatings industry is expected to bolster demand for liquid polybutadiene.

liquid polybutadiene market application

Which region has great potential for liquid polybutadiene consumption?

East Asia accounted for the highest demand for liquid polybutadiene, due to a wide range of industries, including rubber manufacturing, adhesives & sealants, polymer modification, coating formulations, and others in the region. China, being the largest consumer of natural rubber, is a major demand hub for liquid polybutadiene.

North America is also has a prominent contributor to global demand for liquid polybutadiene. In terms of application, the U.S. dominates the overall market in North America.

Further, Europe also has the potential to grow the market of liquid polybutadiene, because of its growing rubber manufacturing industry and other industries such as adhesives and coatings

South East Asia and Oceania is also one of the growing regions for the consumption of liquid polybutadiene. India, among all countries in the region, has witnessed highest demand for liquid polybutadiene because of growing end-use industry application in the country.

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Country-wise Analysis

Why is China showcasing huge scope for liquid polybutadiene consumption?

China is the major contributor to surging demand for liquid polybutadiene, owing to the rapid industrialization and large number of end users. The country witnessed a modest CAGR of 5% from 2016 to 2020, and expected to continue at the same scale by producing approx. quarter ton per year.

Most demand for liquid polybutadiene in China comes from rubber manufacturing applications. It is the largest consumer of natural rubber worldwide; the country consumed approx. 5.5 million metric tons 2019. These factors are set bolster demand growth of liquid polybutadiene over the long-run forecast period.

Why is demand for liquid polybutadiene consistently rising in Germany?

Germany is known for its branded cars with a huge amount of production. With increase in the manufacturing of automobiles, the requirement for tires is also increasing, which leads to rising demand for liquid polybutadiene in Germany.

Additionally, use of liquid polybutadiene adhesives and sealants is also high in Germany. Other details regarding price of the product in the country and changing dynamics of liquid polybutadiene have been mentioned in detail in the report.

Category-wise Insights

Which liquid polybutadiene application is witnessing highest growth?

In FY2019, the tire market was evaluated at 3 Bn units, and the growth rate over the period of FY2016-19 at 5% CAGR. Without tires, the automobile industry stands incomplete. Liquid polybutadiene is a key ingredient for manufacturing tires. Therefore, rising demand for liquid polybutadiene in tire manufacturing is set to bolster market growth over the long-run forecast period.

Liquid polybutadiene is extensively used as a coagent and modifier in manufacturing elastomers. High heat, chemical, and solvent resistance are key characteristics of liquid polybutadiene-made elastomers. Owing to these characters, various end-use industries ranging from electronics, paints and coatings, and tire industry have inclined towards utilization of the product to manufacture downstream products. Despite its diversified potential in the market, trade winds over the medium-term forecast period are inclined towards the tire industry. Tire manufacturers using liquid polybutadiene are Michelin, Toyo, Avon, Bridgestone, Goodyear and Continent AG.

Will the rubber manufacturing industry offer high potential for market expansion?

Rubber is a highly useful raw material in various end-use industries. Its heat and abrasion resistance property makes it useful in several applications. Rubber is mostly used in manufacturing products such as crap tubes, tires, adhesives, gaskets, hoses, etc.

The global industrial rubber market was valued at US$ 31 Bn in FY2019, and is expected to expand at a high CAGR over the medium-run forecast period. Demand for rubber is expected to be high during the forecast period, and is set to grow on the back of the automotive industry. Growing R&D in changing the properties of the rubber is set to propel demand for liquid polybutadiene from the automotive industry.

Demand for liquid polybutadiene is mainly driven by its increased usage in rubber manufacturing. Promising growth in rubber manufacturing and paints and coatings is aiding market expansion for liquid polybutadiene. On the basis of application, rubber manufacturing will account for around 37% of the global demand for liquid polybutadiene in 2021.

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Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Rest of the World

Key Countries Covered

  • U.S.
  • Mexico
  • Venezuela
  • Germany
  • U.K.
  • Russia
  • BENELUX
  • China
  • Japan
  • India
  • GCC

Key Segments Covered

  • Application
  • End Use
  • Region

Key Companies Profiled

  • Evonik Industries AG
  • Nippon Soda Co., Ltd
  • Synthomer
  • TOTAL Cray Valley

Customization & Pricing

Available upon Request

Key Market Segments Covered

  • Application

    • Liquid Polybutadiene for Rubber Manufacturing
    • Liquid Polybutadiene for Adhesives & Sealants
    • Liquid Polybutadiene for Polymer Modification
    • Liquid Polybutadiene for Coating Formulations
    • Others
  • End Use

    • Liquid Polybutadiene for Paints & Coatings
    • Liquid Polybutadiene for Elastomers
    • Liquid Polybutadiene for Adhesives
    • Liquid Polybutadiene for Construction
    • Liquid Polybutadiene for Printing & inks
    • Others
  • Region

    • North America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Rest of the World

- FAQs -

Fact.MR projects the market to register a CAGR close to 6% by volume across the 2021-2031 assessment period. Higher penetration in the elastomer end-use industry will bolster demand over the coming years.
As per Fact.MR’s projections, East Asia is expected to account for highest demand for liquid polybutadiene. Demand is rising for rubber manufacturing end use.
China was first the country badly affected by the COVID-19 pandemic, and at the same time, was the first country that recovered fast and accounted for high demand growth for liquid polybutadiene.

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