Global polybutadiene market is anticipated to reach over $8 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
According to the study, significant growth in the automotive industry coupled with increase in production of automotive vehicles worldwide will boost polybutadiene market growth. Factors like rising industrialization, industrial automation, and advancements in the automotive industry will further supplement market size. Reportedly, in 2017, the automotive end-user segment effectively dominated the global polybutadiene market, in terms of revenue.
However, with increasing environmental concerns along with stringent federal regulations, the polybutadiene market growth is expected to face restrains in recent years. Nevertheless, factors like increasing demand from emerging economies, growing use of polystyrene and ABS in manufacturing of consumer goods, rapid technological advancements, and rising adoption of environmentally friendly automotive tires are likely to offer new growth opportunities to companies operating in polybutadiene market over the coming years, cites the study.
Speaking of regional growth, the Asia-Pacific market is anticipated to become the leading contributor to the global polybutadiene market revenue over the forecast period. Based on the findings of the report it can be claimed that in 2017, the region generated the highest revenue in the global market. Moreover, increasing economic growth, advancements in the automotive and manufacturing industries, and rising consumers standards of living are expected to expand regional market size.
Increasing disposable incomes across developing countries of the region, rising vehicle production, and growing adoption of polybutadiene are factors likely to further amplify regional business outlook. Furthermore, rapid growth in the tire industry along with increase in industrial automation will offer growth impetus to the Asia Pacific polybutadiene market during the forecast period, claims the report.
The leading firms operating in the polybutadiene market include JSR Corp., Reliance Industries Ltd., Lanxess AG, China Petroleum & Chemical Corporation, Kumho Petrochemical Co. Ltd., UBE Industries, Ltd., Synthos S.A., Evonik Industries, LyondelBasell Industries N.V., and The Goodyear Tire & Rubber Company among others.
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The company profiles of these firms are mentioned in the report alongside their product benchmarking, business overview, financials, and recent developments. Industry partakers are increasingly launching new products into the market, primarily in a bid to expand their user base and business reach. These companies are also collaborating with other market players to develop innovative products that can satisfy evolving customer requirements and demands.
The report offers a summary of polybutadiene market with respect to market forces, ecosystem analysis, industry trends, competitive ranking analysis, Porter’s five forces, and PEST analysis. It also provides an extensive quantitative and qualitative analysis of potential growth prospects and future trends in polybutadiene market between 2018-2026.