(MENAFN- Ameliorate Digital Consultancy)
Liquid polybutadiene is used as a supplementary compound or as an external additive that would add certain properties to a product or enhance its performance. Rising integration and growing manufacturers' adaptability to the positive network externalities across the rubber, adhesives & sealants, and coatings industry are set to provide an impetus to the market's growth. Sustainable and bio-based liquid polybutadiene is an additional advantage for the market's growth.
In 2022, the market for liquid polybutadiene is expected to be worth US$ 353.6 million, and by the end of 2032, it is expected to have grown at a CAGR of 6.1% to reach US$ 642.7 million. At the end of 2021, sales of liquid polybutadiene represented close to 3.1% of the worldwide polybutadiene market. The booming demand for paints and coatings drives the market's overall sales.
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Further, it has applications across paints and coatings. It is used in formulating the coatings to reduce the overall solvent content for the final coating formulation. Currently, Liquid Polybutadiene-A is majorly channeled in the market but the novel higher vinyl content liquid polybutadiene is gaining traction in the coatings industry. Thus, growth in the paints and coatings industry is expected to bolster the demand for liquid polybutadiene.
Moreover, growing demand for the product and the unavailability of substitutes not in the near future has ignited the price of the product. Price increase has hardly affected the demand for liquid polybutadienes which is set to grow strong on demand curves where the curve is set to provide a strong equilibrium over a medium-term forecast period even at higher price points.
Market Growth Drivers:
Demand in Adhesives and Sealants: Liquid polybutadiene is used as a tackifier and elastomer in adhesives and sealants, driving demand from industries such as construction and automotive. Elastomeric Applications: Its high flexibility, low glass transition temperature, and excellent resilience make it suitable for elastomeric applications, including footwear and conveyor belts. Coatings and Paints: Liquid polybutadiene's water resistance and chemical stability contribute to its use in coatings and paints for corrosion protection and improved durability. Tire Manufacturing: The tire industry utilizes liquid polybutadiene for its contribution to improved tire performance, including reduced rolling resistance and enhanced grip.
Key Takeaways from the Market Study
The global liquid polybutadiene market is valued at US$ 353.6 million in 2022 Worldwide demand for liquid polybutadiene is anticipated to reach US$ 642.7 million by 2032-end During 2017-2021, sales of liquid polybutadiene increased at 5.0% CAGR East Asia tops the global liquid polybutadiene market accounting for 36.3% market share Rubber manufacturing application of liquid polybutadiene account for 37.3% share of global sales
“Mushrooming Construction and Paints & Coating Industries will offer Immense Growth Opportunity to the Market Over the Assessment Period.” says a Fact.MR analyst.
Segmentation of Liquid Polybutadiene Industry Research
Liquid Polybutadiene Market by Application :
Rubber Manufacturing Adhesives & Sealants Polymer Modification Coating Formulations Others Liquid Polybutadiene Market by End-Use :
Paints & Coatings Elastomers Adhesives Construction Printing & inks Others Liquid Polybutadiene Market by Region :
North America Latin America Europe East Asia South Asia & Oceania MEA
Growing research and development and expansion of production capacity among the manufacturers such as Evonik and Nippon Soda, in liquid polybutadiene portrays a clear picture of the market's key strategy. Furthermore, investment by the firms to promote the product and collaborate with the tire manufacturers provides an image of the higher market potential over the medium-term forecast period.
This is set to create a wave in the market over utilization of the novel product. This is set to create a domino effect, which is also called positive network externalities, driving revenue growth. Further, market players are closely working with the customers to understand their specific requirements and develop innovative solutions to meet the demand.
Further, the market is highly consolidated and manufacturers are trying to maintain their long-run dominance in the market. Key manufacturers for instance are constantly involved in developing new product lines to enter the new application arena.
In June 2022, Evonik's Adhesives and Coatings company announced a new line of sustainable and durable liquid polybutadiene. The utilization of sustainably created butadiene in the production of this innovative product line is estimated to decrease the usage of fossil fuels by up to 99.9%.
Key Companies Profiled
Evonik Industries AG Nippon Soda Co., Ltd Synthomer TOTAL Cray Valley
Trends in the Market: Bio-based Alternatives: As sustainability gains importance, research into bio-based alternatives to traditional polybutadiene is ongoing, which could impact the market. Functionalized Variants: Manufacturers are developing functionalized liquid polybutadienes that offer enhanced properties for specific applications, such as improved adhesion. Customization: Tailoring liquid polybutadiene formulations to meet specific end-use requirements, such as varying levels of flexibility or resilience, is a growing trend.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global liquid polybutadiene market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of application (rubber manufacturing, adhesives & sealants, polymer modification, coating formulations, and others), end-use (paints & coatings, elastomers, adhesives, construction, printing & inks, and others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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