The increasing focus on eco-friendly substitutes & the requirement to reduce the dependence on fossil fuels is propelling the desire for bio-polybutadiene. Moreover, strict policies on emissions & waste management in several nations are further fueling the demand. Further developments & advancements in biotechnology are leading to production at a larger scale. Environmental policies including the Clean Water Act & Clean Air Act are pivotal factors propelling the need for eco-friendly materials in the U.S. These policies are supporting the integration of bio-polybutadiene across several sectors. Key sector participants in the United States, including, Trinseo LLC, Kraton Corporation, Dow Chemical Company, & ExxonMobil Chemical Company, etc are proactively involved in enhancing their manufacturing capabilities & innovating new offerings to fulfill the growing requirements for bio-polybutadiene within the nation.
Bio-polybutadiene finds application in creating biodegradable packaging materials, leading to a reduction in waste in sectors such as construction & packaging. Furthermore, within the field of construction, it acts as a sustainable substitute for traditional materials in items like adhesives & sealants, thereby increasing the need for bio-polybutadiene.
Market Dynamic
One of the key consumers of bio-polybutadiene worldwide is the United States, with a steady growth trajectory expected by 2032. The growing desire for environmentally friendly & sustainable items across various sectors is driving the market in the United States. A significant end-user of bio-polybutadiene is the automotive sector in the nation which uses bio-polybutadiene in the tire manufacturing process.
Moreover, the utilization of bio-based polybutadiene in adhesives, sealants, & other construction materials makes the construction sector its significant end user. Additionally, the biomedical sector is also observing a rising demand because of its compatibility with living organisms & advantageous characteristics. The usage of bio-polybutadiene in tire production represents several challenges such as the higher cost of production of bio-polybutadiene compared to traditional synthetic rubber, which might discourage some manufacturers from accepting it. Furthermore, the presence of raw materials required for the production of bio-polybutadiene on a large scale could pose limitations.
Nevertheless, notwithstanding these hurdles, the need for bio-polybutadiene in tire production is anticipated to increase consistently in the upcoming years. Manufacturers of tires are nowadays seeking ways to improve the performance of products while supporting environmentally friendly initiatives. Therefore, the sector is looking for continued R&D efforts, along with increased in the production of bio-polybutadiene.
Research Scope and Analysis
By Type
The segment of high cis polybutadiene products dominates the market, accounting for the maximum share in this particular segment in 2023. The market encompasses several types of products like high cis polybutadiene, low cis polybutadiene, high vinyl polybutadiene, & high trans polybutadiene. The growing demand for high cis polybutadiene can be attributed to its enhanced resistance to growth and increased durability, making it highly coveted across diverse sectors. The sector of tire manufacturing is a major driver of demand for high cis polybutadiene derivatives, further propelling its growth.
On the contrary, the low cis polybutadiene segment is anticipated to observe significant growth for the forecast period. This growth is expected due to the widening scope of its applications in the modification of polymer & manufacturing of industrial rubber. Consisting of 54% trans, 36% cis, & 10% vinyl contents, low cis polybutadiene is utilized in the manufacturing of tires & mixed with several other polymers of the tire. Moreover, it acts as a plastics additive as it has a lower content of gel. Furthermore, the low cis polybutadiene serves in the manufacturing of high-impact polystyrene & polystyrene ABS grades. These features lead to the increasing demand for low cis polybutadiene in the bio-polybutadiene market.
By Application
The segment of tire manufacturing dominates the market with a maximum share in the global bio-polybutadiene market in 2023, propelled by because of its wear-resistance characteristics. The usage of bio-polybutadiene in tire production has various benefits when compared to conventional synthetic rubber. Bio-polybutadiene is a kind of synthetic rubber obtained from renewable resources, like plant-dependent products, making it a sustainable substitute. It also has unique properties that can improve the performance of tires.
One of the major benefits of adding bio-polybutadiene in the manufacturing of tires lies in its capability to enhance wet traction & improve rolling resistance. As compared to traditional rubber, bio-polybutadiene enhances the properties of resistance towards higher temperatures & prevents form deformation due to more temperature conditions. Hence, tires made with bio-polybutadiene provide better grip on wet roads. Additionally, the acceptance of bio-polybutadiene in the manufacturing of tires leads to a reduction in the carbon footprint of the sector. By obtaining synthetic rubber from renewable resources, manufacturers of tires can reduce their dependency on fossil fuels.
The Global Bio-polybutadiene Market Report is segmented on the basis of the following
By Type
- Low Cis-Butadiene
- High Cis-Butadiene
- High Trans Butadiene
- High Vinyl Butadiene
By Application
- Polymer Modification
- Tire Manufacturing
- Industrial Rubber Manufacturing
Regional Analysis
The Asia Pacific region dominates the global bio-polybutadiene market, accounting for the maximum share of 47.5% in 2023. The region has witnessed a rising desire for bio-based products, driven by the growing demand for eco-friendly products & initiatives taken by the government to reduce carbon emissions. The automotive sector’s growth in nations such as Japan, India, & China and the existence of key manufacturers including SAIC, Toyota, & KIA Motors, is anticipated to further propel the market for bio-based polybutadiene in the Asia-Pacific region.
Moreover, enhancement in capacity generation in the Canada & U.S. is expected to foster the demand for polybutadiene in North America by 2032. North America has emerged as a pivotal hub for bio-polybutadiene owing to the increasing need for eco-friendly alternatives, leading to a surge in demand for sustainable products. This region saw several initiatives focusing on the use of renewable resources in production techniques, such as in rubber production.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The market participants are actively involved in expanding the range of bio-polybutadiene products and exploring new applications. With rapid technological advancements, the focus of bio-polybutadiene manufacturers also lies in streamlining both pre- and post-production processes.
A notable development in the industry occurred in July 2022, when Evonik Industries AG introduced Sustainable Bio-based Liquid Polybutadiene under the brand name POLYVEST eCO at its manufacturing facility in Marr, Germany. This innovative product is designed to reduce the reliance on fossil raw materials by an impressive 99.9%, aligning with the growing demand for sustainable and eco-friendly alternatives in the market. This launch showcases the industry's commitment to enhancing sustainability and marks a significant step towards reducing the environmental impact of bio-polybutadiene production.
Some of the prominent players in the Global Bio-polybutadiene Market are:
- Lanxess AG
- Kuraray Co., Ltd.
- Kraton Corporation
- Sibur
- Zeon Corporation
- JSR Corporation
- Sinopec
- LG Chem
- Trinseo LLC
- Goodyear Tire & Rubber Company
- Evonik Industries
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Bio-polybutadiene Market
The COVID-19 pandemic and the subsequent global recession had a notable impact on the global bio-butadiene market. During the pandemic, lockdowns and disruptions in industrial activities led to reduced demand for bio-butadiene, particularly from industries like automotive and tire manufacturing. The recession further exacerbated the situation, causing financial constraints and delaying investments in the bio-butadiene sector. However, amidst the challenges, there has been an increasing focus on sustainability, prompting interest in bio-based alternatives like bio-butadiene. As industries and governments prioritize eco-friendly practices, the bio-butadiene market may find opportunities for growth in the post-pandemic era.
The full extent of the impact and recovery of the bio-butadiene market will depend on how the pandemic situation evolves, global economic conditions, and the extent of adoption of sustainable practices in various industries. Market players are expected to adapt their strategies to navigate through these challenging times and leverage potential growth opportunities in the future.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 598.7 Mn |
| Forecast Value (2032) |
USD 3,550.8 Mn |
| CAGR (2023-2032) |
21.9% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Type (Low Cis-Butadiene, High Cis-Butadiene, High
Trans Butadiene, and High Vinyl Butadiene), and By
Application (Polymer Modification, Tire
Manufacturing, and Industrial Rubber
Manufacturing). |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Lanxess AG, Kuraray Co., Ltd., Kraton Corporation,
Sibur, Zeon Corporation, JSR Corporation, Sinopec, LG
Chem, Trinseo LLC, Goodyear Tire & Rubber
Company, Evonik Industries, and Other Key Players. |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |