Polybutadiene is a polymer made by 1, 3-butadiene polymerization. It's a synthetic rubber that's usually used to make tires, but it's also used to make polystyrene and ABS more resistant (acrylonitrile butadiene styrene). Polybutadiene is also used in the manufacture of golf balls and the covering of electronics. Polybutadiene's high resistance is a crucial factor driving up demand in tire manufacturing plants.
The fast rise of the automotive and plastic sectors is one of the major drivers of the global polybutadiene market. Polybutadiene is in high demand because of properties such as low transition, high resistance, high tensile strength, abrasion resistance, and toughness. Furthermore, the global polybutadiene market is being driven by rising demand for environmentally friendly and fuel-efficient tires.
Market Outlook for Polybutadiene
During the projection period, Asia Pacific is expected to be the Polybutadiene Market. The rubber market in this region is expanding rapidly, thanks to strong economic growth and rising foreign direct investment (FDI) in recent years. Thailand is the world's leading producer of natural rubber, trailed by Malaysia, Indonesia, and Vietnam. The region's automobile industry, which is the region's largest end-use industry, is driving up demand for polybutadiene. In July 2017, China sold 2,167,000 cars, according to CAAM (China Association of Automobile Manufacturers).
During the forecast period, the Polybutadiene Market in North America is expected to increase significantly. Polybutadiene demand is boosted by the presence of important end-use sectors such as automotive and tires. The value of automotive components exports from the United States was US$ 81 billion in 2015, according to the International Trade Administration.
Over the last few years, the European tire market has experienced moderate expansion. However, the region sees a lot of tire imports. The European Tire and Rubber Manufacturers Association reported that 206,672 tires were sold in 2016, a 2% increase over the previous year.
Key Developments in the Polybutadiene Market:
Mitsubishi Corporation, Ube Industries, Ltd., Lotte Chemical Corporation, and Lotte Chemical Titan, a wholly-owned Lotte Chemical subsidiary, formed a three-company joint venture in Malaysia to manufacture and sell polybutadiene rubber in March 2013. This joint venture was formed in order to meet Asia's growing demand for polybutadiene rubber.
SIBUR, a leading Russian gas processing, and petrochemicals business agreed to form a joint venture with China Petroleum and Chemical Corporation ("Sinopec") to build a 50 ktpa butadiene nitrile rubber (or "NBR") factory at the Shanghai Chemical Industry Park in May 2014.
SIBUR, a leading Russian gas processing, and petrochemicals business agreed to form a joint venture with China Petroleum and Chemical Corporation ("Sinopec") to build a 50 ktpa butadiene nitrile rubber (or "NBR") factory at the Shanghai Chemical Industry Park in May 2014.
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