DUBLIN, Sept. 22, 2023 /PRNewswire/ -- The "Polybutadiene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global polybutadiene market size reached US$ 5.2 Billion in 2022. Looking forward, the market is set to reach US$ 6.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.
Polybutadiene, a synthetic elastomer produced through the free radical polymerization of multiple 1,3-butadiene monomers to form long polymer chain molecules, boasts remarkable properties such as exceptional elasticity, resistance to abrasion, low hysteresis loss, minimal heat buildup, low coefficient of friction, and impressive strength characteristics.
Notably, these attributes make it a prime choice for tire manufacturing worldwide, contributing to the production of high-quality tires. Additionally, polybutadiene serves as a valuable additive for enhancing the toughness and impact resistance of various plastics, including polystyrene, high-impact polystyrene (HIPS), and acrylonitrile butadiene styrene (ABS).
The surging global sales of vehicles have significantly boosted the demand for high-performance tires, presenting a pivotal driver of market growth. Furthermore, polybutadiene's resistance to low temperatures has led to its increased adoption in the automotive sector for producing belts, gaskets, inner tubes, sandblasting hoses, and covers for pneumatic and water hoses.
Beyond the automotive industry, the thriving construction sector is fueling the requirement for polystyrene plastics, widely utilized in insulated panel systems for walls, roofs, and concrete floors in both residential and commercial buildings. These plastics find application in civil engineering projects, road and railway development, as well as the manufacturing of pontoons and marinas, contributing significantly to market expansion.
Moreover, polybutadiene is gaining popularity as a substitute for natural rubber (NR) in manufacturing golf ball cores and various elastic objects, as well as for coating or encapsulating electronic assemblies, offering excellent electrical resistivity. Combined with the growing focus of major global players on mergers and acquisitions (M&A) activities, these factors are anticipated to propel market growth.
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The competitive landscape of the industry has also been examined along with the profiles of the key players being
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