Hydroxyl-Terminated Polybutadiene (HTPB) Market

Hydroxyl-Terminated Polybutadiene (HTPB) Market Analysis By Application (Rocket Fuel, Waterproof Coatings & Membranes, Adhesives, Sealants & Electrical & Electronics) By Region (North America, Latin America, Europe, APAC, Middle East & Africa HTPB Market) – Forecast 2022 to 2032

Analysis of Hydroxyl-Terminated Polybutadiene (HTPB) market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Hydroxyl-Terminated Polybutadiene (HTPB) Market Outlook (2022-2032)

Global hydroxyl-terminated polybutadiene (HTPB) market is set to witness a CAGR of 9.5% to reach a market valuation of US$ 498.7 million by 2032, up from US$ 203 million in 2022.

Report Attributes


Hydroxyl-Terminated Polybutadiene (HTPB) Market Size (2021A)

US$ 190.6 Million

Estimated Market Value (2022E)

US$ 203 Million

Forecasted Market Value (2032F)

US$ 498.7 Million

Global Market Growth Rate (2022-2032)

9.5% CAGR

North America Market Share (2021)


North America Growth Rate (2022-2032)

9.9% CAGR

U.S. Growth Rate (2022-2032)

9.8% CAGR

Market Share of Top 5 Companies


Key Companies Profiled

  • TotalEnergies
  • Evonik Industries
  • MACH I
  • Polymer Source
  • Idemitsu Kosan
  • RCS Rocket Motor Components
  • CRS Chemicals
  • Emerald Performance Materials
  • Island Pyrochemical Industries Corp
  • Monomer-Polymer & DAJAC Labs
  • Aerocon Systems Co.
  • Zibo Qilong Chemical Industry

Rocket fuel application of HTPB grew 5.5% to US$ 48.9 million in 2021, while HTPB application in waterproof coatings and membranes was up 5.7% to reach US$ 42.4 million in the same year.

Sales of rocket fuel, under application, are set to expand 12.6% to US$ 170.1 million by 2032, while demand for adhesives under application will increase 8.3% to reach US$ 77.1 million in the same fiscal year.

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Consumption Analysis of HTPB (2017-2021) Vs. Market Forecast Outlook (2022-2032)

As per latest market analysis by Fact.MR, a market research and competitive intelligence provider, market value for hydroxyl-terminated polybutadiene (HTPB) increased at a CAGR of around 6.7% from 2017 to 2021. In 2021, the HTPB market stood at around US$ 190.6 million.

Consumers are demanding more variable thrust and efficient rocket fuel. This trend is picking high pace in developed regions, which is positively driving rocket fuel demand. North America and Europe are major manufacturers and exporters of rocket fuel, and are fulfilling demand from the space industry with rapid technological progress in fuel properties.

Over the next ten years, the global market for hydroxyl-terminated polybutadiene is predicted to surge ahead at a CAGR of 9.5%.

Why is Demand for Hydroxyl-Terminated Polybutadiene Surging?

“High Demand for Sealants from Automotive & Transportation Industry”

In terms of sales, value, and volume, the automotive and transportation industry is the expanding tremendously. The expanding automobile industry is acting as a catalyst for the demand for sealants. Since they act as perfect resistance to corrosion and chemicals, sealants are replacing mechanical gaskets. Polyvinyl, polyurethanes, silicones, and other elastomeric rubbers are common automotive sealants.

Because plastics cannot be welded, increasing use of plastics, multifarious composites, and fibres in automotive and transportation manufacturing has aided demand growth of the sealants, which is directly impacting the growth of the hydroxyl-terminated polybutadiene market.

Hydroxyl terminated polybutadiene htpb market forecast by Fact.MR

Region-wise Insights

Which Regional Markets Should HTPB Suppliers Not Miss Out On?

“Europe to Remain Huge Consumer of HTPB”

Europe is a major consumer of rocket fuel and a producer of a variety of adhesives. Automotive and production facilities in Europe have been gradually growing even before the COVID-19 pandemic hit. As a result, demand for adhesives and sealants is expected to grow at a high rate.

Owing to this, the Europe is anticipated to remain a prominent growth generator in the hydroxyl-terminated polybutadiene market over the forecast period. The European regional market is anticipated to expand at a CAGR of 9.6% during the same time frame to reach US$ 135.5 million by 2032, with demand for adhesives anticipated to increase at a CAGR of 8.5% in the region.

“Asia Pacific’s Automotive Sector to Drive HTPB Consumption”

The Asia Pacific hydroxyl-terminated polybutadiene market holds 27.4% of the global market share. The East Asia and South Asia & Oceania HTPB market is expected to grow rapidly going forward.

High demand and growth in this regional market is attributed to the growing automotive sector, which is making use of sealants in vehicles for commercial activities, such as trucks, loaders, trolleys, etc. The rising automotive industry in developing nations such as India and China will hugely support HTPB market growth across the region.

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Country-Wise Insights

Will the U.S. HTPB Market Be a Lucrative One?

The U.S. hydroxyl-terminated polybutadiene market has been growing at a million dollar pace, owing to increasing demand for waterproof coatings & membranes adhesives, along with high awareness about enhanced technology, growing space travel, increased demand for rocket fuel, etc.

Increase in demand for adhesives, sealants, and waterproof coatings & membranes has been observed over the past decade across the region of North America. Commercial usage of these applications is growing rapidly, which has thereby propelled the sales of adhesives and other related applications.

The automotive industry showing tremendous growth post COVID-19, and demand for sealants is increasing. New technologies are push consumers to buy newer automotive vehicles. Adhesives sales are boosted by growing demand from the industrial and automotive sectors in the United States.

From a revenue standpoint, the U.S. dominates the global hydroxyl-terminated polybutadiene market, and by 2032, demand for hydroxyl-terminated polybutadiene is predicted to have grown 2X in the country.

The United States market is expected to remain a major growth source during the forecast period, expanding at a CAGR of 9.5%. Moreover, hydroxyl-terminated polybutadiene (HTPB) market size for adhesive manufactures, under the umbrella of application, is projected to surge at a CAGR of 10% across North America.

Category-Wise Analysis

Which HTPB Application is Expected to Bring in High Revenue Streams?

Rocket fuel is one of the prominent categories having tremendous potential going ahead. Till March 2022, 146 orbital launches took place. Rocket fuel prices are increasing due to rising raw material demand as private companies are also participating in space travel projects.

Increased use of adhesives in a wide range of waterproofing applications, from corrugated construction of boxes, printed sheet lamination, to packaging coatings used for all types of consumer products to prevent oxidation and corrosion, is being witnessed. Owing to this, the adhesive segment is anticipated to grow at a higher rate.

Hydroxyl-terminated polybutadiene consumption is increasing rapidly due to rising demand from the global space industry and industrial manufacturing units.

Owing to the aforementioned factors, demand for HTPB use in rocket fuel and adhesives is projected to touch US$ 170.1 million and US$ 77.8 million, respectively by 2032, surging at a CAGR of 12.6% and 8.3% during the same time frame.

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Competition Landscape

TotalEnergies, Evonik Industries, MACH I, Polymer Source, Idemitsu Kosan, RCS Rocket Motor Components, CRS Chemicals, Emerald Performance Materials, Island Pyrochemical Industries Corp, Monomer-Polymer & DAJAC Labs, Aerocon Systems Co., and Zibo Qilong Chemical Industry are major suppliers of hydroxyl-terminated polybutadiene.

  • In 2022, TotalEnergies increased its hydroxyl-terminated polybutadiene (HTPB) properties to provide hydrolytic stability, resistance to aqueous acids and bases, and excellent adhesion to a variety of substrates. TotalEnergies holds around 8% share in the North American market.

Fact.MR has provided detailed information about the overall strategies adopted by players in the hydroxyl-terminated polybutadiene market, along with their detailed overviews of sales analysis by application, including SWOT analysis and sales generated from target HTPB applications of top hydroxyl-terminated polybutadiene (HTPB) manufacturers positioned across geographies.

Key Segments of HTPB Industry Research

  • HTPB Market by Application :

    • Rocket Fuel
    • Waterproof Coatings & Membranes
    • Adhesives
    • Sealants
    • Electrical & Electronics
    • Other Applications
  • HTPB Market by Region :

    • North America HTPB Market
    • Latin America HTPB Market
    • Europe HTPB Market
    • APAC HTPB Market
    • Middle East & Africa HTPB Market

- FAQs -

What is the current valuation of Hydroxyl-Terminated Polybutadiene (HTPB) industry?

Currently, hydroxyl-terminated polybutadiene (HTPB) market is pegged at US$ 203 million in 2022.

At what CAGR is the Hydroxyl-Terminated Polybutadiene (HTPB) market volume demand poised to grow?

Hydroxyl-terminated polybutadiene (HTPB) utilization is anticipated to grow at a CAGR of around 9.5% during the period 2022-2032.

How has been the performance of Hydroxyl-Terminated Polybutadiene (HTPB) market over the past half-decade?

Hydroxyl-terminated polybutadiene (HTPB) market size, grew with a CAGR of around 6.7% during 2017-2021

Which are the top Hydroxyl-Terminated Polybutadiene (HTPB) companies?

Top companies in the production of hydroxyl-terminated polybutadiene (HTPB) are TotalEnergies, Evonik Industries, MACH I, Polymer Source, Idemitsu Kosan, RCS Rocket Motor Components, CRS Chemicals, Emerald Performance Materials etc.

What is the imperative market strategy for manufacturers?

Manufacturer should focus on providing low glass transition temperature in hydroxyl terminated polybutadiene. Manufacturer should also give a thought on to provide efficient resistance to aqueous bases and acids.

What outlook does the US provides for Hydroxyl-Terminated Polybutadiene (HTPB) market?

US is estimated to hold around 21.6% of the global hydroxyl-terminated polybutadiene (HTPB) market value.

Hydroxyl-Terminated Polybutadiene (HTPB) Market