The Global Liquid Polybutadiene Market is estimated to be valued at USD 3,776.5 million by the end of 2023 and is expected to grow at a CAGR of 4.85% during the forecast period. Application of Liquid Polybutadiene in the transportation accounted for the largest market share. It has been projected to grow at the highest CAGR on account of increasing demand for manufacturing tires and hoses. The construction industry is the second major consumer of Liquid Polybutadiene. Furthermore, increasing tire manufacturing and construction activities across the globe are driving the growth of the market. However, the only bottleneck in a growth trajectory of the Global Liquid Polybutadiene Market is the threat posed by fluctuating prices of raw material. Nevertheless, in the coming years, construction industry in the Middle East & Africa and Asian market is expected to provide lucrative opportunity to help the market overcome existing growth constrains.
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The Global Liquid Polybutadiene Market has been segmented on the basis of application, end use, and region. On the basis of application, the market has been divided into tire manufacturing, industrial rubber, polymer modification, protective films, chemicals, coatings, adhesives & sealants, and others. Their major application of the product can be seen in tire manufacturing and industrial rubber. The tire manufacturing segment holds the largest of share of the Global Liquid Polybutadiene Market and is estimated to grow at the highest CAGR of 5.31%. This is attributed to the easy availability, and greater impact resistance and flexibility. Industrial rubber, is another important segment in the Global Liquid Polybutadiene Market, which held 19% share of the market in 2016.
Based on the end use, the Global Liquid Polybutadiene Market is segmented into transportation, construction, industrial, and others. Among these end uses, the consumption of Liquid Polybutadiene in transportation accounts for the largest market share owing to increasing use of Liquid Polybutadiene in the manufacturing of tires, hose, and other rubber parts in the automotive. During the forecast period, the transportation industry segment is estimated grow at the highest CAGR and expected to reach USD 1,548.3 million by the end of 2023. The construction industry is the second largest consumer of Liquid Polybutadiene, wherein they are used as in manufacturing sealants & adhesives and paints & coating. Other important applications of Liquid Polybutadiene can be found in industrial rubber.
Geographically, the Global Liquid Polybutadiene Market is segmented into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. As per MRFR analysis, Asia Pacific dominated the market, accounted for the largest share of the market in 2016, and is expected to grow at a CAGR of 5.34%. Country wise, China is the leading market, in terms of value and volume. This is attributed to the growing new technology and innovation in Polybutadiene Market, which tends to rise its end use applications. Asia Pacific market is followed by Europe, which accounted for considerable market share of the Global Liquid Polybutadiene Market in 2016. Europe is estimated to value at USD 627.6 million by 2016 end. North America is a substantial region in the market, which accounts for 16% share of market as of 2016.
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