Market Size of Polybutadiene Rubber (PBR) Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 7.71 Billion |
| Market Size (2029) | USD 9.31 Billion |
| CAGR (2024 - 2029) | 3.95 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players_Market-_Key_Players.webp "Polybutadiene Rubber (PBR) Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
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Polybutadiene Rubber Market Analysis
The Polybutadiene Rubber Market size is estimated at USD 7.71 billion in 2024, and is expected to reach USD 9.31 billion by 2029, growing at a CAGR of 3.95% during the forecast period (2024-2029).
The COVID-19 pandemic had negatively impacted the market for polybutadiene rubber market. The nationwide lockdowns and strict social distancing measures had resulted in a halt in automotive vehicle manufacturing, thereby affecting the market for polybutadiene rubber. However, post-COVID pandemic, the market recovered well after the restrictions were lifted. The market recovered significantly, owing to the rise in demand for polybutadiene rubber in tire manufacturing, footwear, and sports accessories applications.
- The increasing demand from the automobile industry and the growth in the synthetic rubber industry are expected to drive the polybutadiene rubber market.
- The stringent environmental regulations and the health concerns regarding exposure to polybutadiene are expected to hinder the market's growth.
- The upcoming consumer shift to electric vehicles is expected to create opportunities for the market during the forecast period.
- The Asia-Pacific region is expected to dominate the market. It is also expected to register the highest CAGR during the forecast period due to rising demand for polybutadiene rubber in tire manufacturing, footwear, and sports accessories applications.
Polybutadiene Rubber Industry Segmentation
Polybutadiene rubber is a synthetic rubber formed from the polymerization of the monomer 1,3-butadiene. PBR is primarily used in the tire industry due to its high wear, low coefficient of friction and strength properties, excellent elastic properties, low hysteresis loss, and resistance to low temperatures.
The polybutadiene rubber market is segmented by application and geography. By application, the market is segmented into tire manufacturing, footwear, sports accessories, and other applications (chemicals, polymer modification, etc.). The report also covers the market sizes and forecasts for the polybutadiene rubber market in 27 countries across the significant region.
For each segment, the market sizing and forecasts have been done based on value (USD).
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| Footwear | |
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Polybutadiene Rubber (PBR) Market Size Summary
The polybutadiene rubber market is poised for steady growth over the forecast period, driven by increasing demand from the automotive and synthetic rubber industries. The market experienced a downturn due to the COVID-19 pandemic, which disrupted automotive manufacturing and subsequently affected polybutadiene rubber demand. However, the market has shown resilience and is recovering, with significant demand arising from its primary application in tire manufacturing, as well as in footwear and sports accessories. The Asia-Pacific region, particularly countries like China, India, and Japan, is expected to dominate the market, fueled by the burgeoning automotive sector and the rising production of electric vehicles. Despite the positive outlook, the market faces challenges from stringent environmental regulations and health concerns related to polybutadiene exposure.
The tire manufacturing segment is anticipated to maintain its dominance in the polybutadiene rubber market, as it consumes a substantial portion of global production. The shift towards electric vehicles presents new opportunities for market expansion, particularly in regions with strong automotive industries. Major players in the market, such as ENEOS Materials Corporation, Arlanxeo, and Lanxess, are actively expanding their production capabilities to meet the growing demand. Recent developments, such as the establishment of new production facilities in Brazil and India, underscore the industry's commitment to enhancing its presence in key markets. As the demand for tires and rubber products continues to rise, the polybutadiene rubber market is expected to experience sustained growth, with significant contributions from the Asia-Pacific region.
Polybutadiene Rubber (PBR) Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand From the Automobile Industry
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1.1.2 Growth in the Synthetic Rubber Industry
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Stringent Enviornmental Regulations
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1.2.2 Health Concerns Regarding Exposure to Polybutadiene
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Application
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2.1.1 Tire Manufacturing
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2.1.2 Footwear
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2.1.3 Sports Accessories
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2.1.4 Other Applications (Chemicals, Polymer Modification, etc.)
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 Indonesia
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2.2.1.6 Malaysia
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2.2.1.7 Thailand
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2.2.1.8 Vietnam
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2.2.1.9 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 Italy
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2.2.3.4 France
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2.2.3.5 Spain
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2.2.3.6 Russia
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2.2.3.7 NORDIC Countries
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2.2.3.8 Turkey
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2.2.3.9 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Colombia
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2.2.4.4 Rest of South America
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2.2.5 Middle East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Qatar
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2.2.5.4 UAE
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2.2.5.5 Nigeria
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2.2.5.6 Egypt
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2.2.5.7 Rest of Middle East and Africa
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Polybutadiene Rubber (PBR) Market Size FAQs
How big is the Polybutadiene Rubber Market?
The Polybutadiene Rubber Market size is expected to reach USD 7.71 billion in 2024 and grow at a CAGR of 3.95% to reach USD 9.31 billion by 2029.
What is the current Polybutadiene Rubber Market size?
In 2024, the Polybutadiene Rubber Market size is expected to reach USD 7.71 billion.
