Polybutadiene Rubber Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Polybutadiene Rubber (PBR) Market is Segmented by Application (Tires Manufacturing, Footwear, Sports Accessories, And Other Applications) and Geography (Asia-Pacific, North America, Europe, South America, And Middle East and Africa). The Report Offers the Market Sizes and Forecasts for Polybutadiene Rubber in Revenue (USD) for all the Above Segments.

Polybutadiene Rubber Market Size

Polybutadiene Rubber (PBR) Market - Market Summary
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

Polybutadiene Rubber (PBR) Market - Key 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 Market Trends

Tire Manufacturing Application Segment to Dominate The Market

  • Butadiene is used in the manufacturing of synthetic rubbers and elastomers that include polybutadiene rubber (PBR), styrene-butadiene rubber (SBR), nitrile rubber (NR), and polychloroprene (Neoprene), all of which are used in the production of other goods and materials.
  • PBR is used in the manufacturing of tires. Polybutadiene is primarily utilized in the production of automotive tires. It is estimated that the tire manufacturing process consumes over 70% of the world's polybutadiene production. It is primarily utilized in tires as a sidewall to reduce fatigue caused by continual flexing throughout the run. Butadiene is also used in a variety of other automotive components.
  • In countries like the United States, the shipment of tires is increasing, which is driving the market for Polybutadiene rubber. According to the U.S. Tire Manufacturers Association (USTMA), the total shipments of tires are expected to reach 334.2 million units in 2023, as compared to 332.0 million units in 2022 and 332.7 million units in 2019.
  • Furthermore, according to the U.S. Tire Manufacturers Association (USTMA), in 2023, Original Equipment (OE) shipments for passenger, light truck, and truck tires are expected to change by 2.3%, 1.3% and -0.6%, respectively, with a total increase of 1.0 million units. Thus, the increasing demand for automotive OEM industries will drive the current studied market.
  • The increasing production volume of automotive vehicles is driving the market for Polybutadiene Rubber used in tire manufacturing. According to OICA, global automotive vehicle production reached 85 million in 2022, as compared to 80.2 million manufactured in 2021, at a growth rate of 6%. China, the United States, and India are the most prominent automotive vehicle markets globally.
  • The rising demand for electric vehicles in recent years, as well as an impending consumer shift to electric vehicles, are expected to provide opportunities for polybutadiene rubber (PBR) tires during the forecast period. In Europe, the production volume of electric vehicles is increasing in countries like Germany and the United Kingdom.
  • In Germany, automakers are investing heavily in producing electric vehicles in the country. For instance, In June 2023, Ford announced the inauguration of the Cologne Electric Vehicle Center, a hi-tech production facility in Germany that will build Ford's new generation of electric passenger vehicles for millions of European customers. According to Ford, the Cologne Center has an annual production capacity of 250,000 electric vehicles. Thus, the increasing production of electric vehicles is expected to drive the current studied market.
  • Thus, the tire manufacturing application segment to dominate the market during the forecast period.
Polybutadiene Rubber (PBR) Market - Segmentation Trends

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market for polybutadiene rubber during the forecast period. In countries like China, India, and Japan, the market is expected to grow exponentially owing to the increasing demand from applications such as tire manufacturing, industrial rubber manufacturing, and footwear.
  • China is the world's biggest automobile market in terms of both production and sales. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), vehicle production in China reached a total of 27.02 million units in 2022, which is an increase of 3% over 2021 for the same period.
  • In China, the automotive industry is witnessing switching trends as the consumer inclination toward battery-operated vehicles is higher. As per the China Passenger Car Association, the country sold 5.67 million EVs and plug-ins in 2022, almost double the sales figures achieved in 2021. These trends will increase the demand for automotive tires in the country, thereby driving the current studied market.
  • Furthermore, according to the China Rubber Industry Association (CRIA), the country is projected to produce 704 million tires per year by 2025, including 527 million passenger radial tires, 148 million truck/bus radial tires, 29 million bias truck tires, 20,000 extra-large industrial tires, 12 million agricultural tires, and 54,000 aircraft tires. Thus, the demand for polybutadiene rubber is expected to grow in the country.
  • India is also one of the largest producers and consumers of rubber in the Asia-Pacific region. The Indian rubber industry exhibits the co-existence of the rubber production sector and the fast-growing rubber products manufacturing and consuming sector.
  • According to the Automotive Tire Manufacturers' Association (ATMA), the Indian tire industry revenue is expected to reach USD 22 billion by FY 2032, as compared to USD 9 billion registered in FY 2022. Thus, the increase in demand for tires is expected to drive the market for the current studied market.
  • In India, about 12% of rubber is used to produce footwear. The penetration of international brands, coupled with urbanization, has driven the footwear market in the country. The government has focused on the footwear industry under the 'Make in India' initiative. The country is currently producing around 9% of the global annual production of footwear. The footwear sector in India is one of the largest in the region, behind China.
  • Due to all such factors, the market for polybutadiene rubber in the region is expected to grow during the forecast period.
Polybutadiene Rubber (PBR) Market - Regional Trends

Polybutadiene Rubber Industry Overview

The polybutadiene rubber market is partially consolidated in nature. Some of the major players in the market include (not in any particular order) ENEOS Materials Corporation, Arlanxeo, Zeop Co., Lanxees, and UBE Co., among others.

Polybutadiene Rubber Market Leaders

  1. ARLANXEO

  2. ZEON CORPORATION

  3. LANXESS

  4. UBE CORPORATION

  5. ENEOS Materials Corporation

*Disclaimer: Major Players sorted in no particular order

Polybutadiene Rubber (PBR) Market - Market Concentration
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Polybutadiene Rubber Market News

  • February 2023:Arlanxeo revealed the commencement of a 65 ktpa polybutadiene rubber production plant in southern Brazil. This new facility, situated in the Triunfo petrochemical complex in Rio Grande do Sul, underlines the company's dedication to strengthening its presence in Latin America.
  • March 2022, Indian Oil Corporation Limited unveiled its plans to construct a 60 ktpa polybutadiene rubber (PBR) plant at the existing naphtha cracker complex in Panipat. With an investment of INR 14.6 billion (USD 169 million), the company aims to source the required feedstock, butadiene, from the 138 ktpa butadiene extraction unit (BDEU) at the Panipat complex for PBR production. This strategic move signifies Indian Oil Corporation Limited's commitment to expanding its capabilities in the petrochemical sector.

Polybutadiene Rubber Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand From the Automobile Industry

      2. 4.1.2 Growth in the Synthetic Rubber Industry

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Stringent Enviornmental Regulations

      2. 4.2.2 Health Concerns Regarding Exposure to Polybutadiene

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Application

      1. 5.1.1 Tire Manufacturing

      2. 5.1.2 Footwear

      3. 5.1.3 Sports Accessories

      4. 5.1.4 Other Applications (Chemicals, Polymer Modification, etc.)

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Indonesia

        6. 5.2.1.6 Malaysia

        7. 5.2.1.7 Thailand

        8. 5.2.1.8 Vietnam

        9. 5.2.1.9 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 Italy

        4. 5.2.3.4 France

        5. 5.2.3.5 Spain

        6. 5.2.3.6 Russia

        7. 5.2.3.7 NORDIC Countries

        8. 5.2.3.8 Turkey

        9. 5.2.3.9 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Colombia

        4. 5.2.4.4 Rest of South America

      5. 5.2.5 Middle East and Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 Qatar

        4. 5.2.5.4 UAE

        5. 5.2.5.5 Nigeria

        6. 5.2.5.6 Egypt

        7. 5.2.5.7 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ARLANXEO

      2. 6.4.2 Indian Oil Corporation Ltd

      3. 6.4.3 ENEOS Materials Corporation

      4. 6.4.4 KUMHO PETROCHEMICAL

      5. 6.4.5 LANXESS

      6. 6.4.6 LG Chem

      7. 6.4.7 Reliance Industries Limited

      8. 6.4.8 SABIC

      9. 6.4.9 SIBUR International GmbH

      10. 6.4.10 Synthos

      11. 6.4.11 Trinseo

      12. 6.4.12 UBE Corporation

      13. 6.4.13 THE YOKOHAMA RUBBER CO., LTD

      14. 6.4.14 ZEON CORPORATION

      15. 6.4.15 KURARAY CO., LTD.

      16. 6.4.16 Versalis S.p.A.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Upcoming Consumer Shift to Electric Vehicles

    2. 7.2 Other Opportunities

**Subject to Availability
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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).

Application
Tire Manufacturing
Footwear
Sports Accessories
Other Applications (Chemicals, Polymer Modification, etc.)
Geography
Asia-Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Thailand
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Russia
NORDIC Countries
Turkey
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Qatar
UAE
Nigeria
Egypt
Rest of Middle East and Africa
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Polybutadiene Rubber Market Research FAQs

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.

In 2024, the Polybutadiene Rubber Market size is expected to reach USD 7.71 billion.

ARLANXEO, ZEON CORPORATION, LANXESS, UBE CORPORATION and ENEOS Materials Corporation are the major companies operating in the Polybutadiene Rubber Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Polybutadiene Rubber Market.

In 2023, the Polybutadiene Rubber Market size was estimated at USD 7.41 billion. The report covers the Polybutadiene Rubber Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Polybutadiene Rubber Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Polybutadiene Rubber Industry Report

Statistics for the 2024 Polybutadiene Rubber market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Polybutadiene Rubber analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Polybutadiene Rubber Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)