New York
City, 23 January 2019: Global Polybutadiene Market is anticipated to reach over $8
billion by 2026 according to a new research published by Polaris Market
Research. In 2017, the automotive segment dominated the global market, in terms
of revenue. Asia-Pacific is expected to be the leading contributor to the
global polybutadiene market revenue during the forecast period.
A
significant growth in the automotive industry, along with growing production of
motor vehicles is expected to support the growth of polybutadiene market. Other
driving factors include rising industrialization, modernization of vehicles,
and industrial automation. However, increasing environmental concerns, and
stringent government regulations are expected to restrict the growth of the
polybutadiene market. Increasing demand from developing nations, technological
advancements, increase use of polystyrene and ABS in production of consumer
goods, and rising adoption of eco-friendly tires are factors expected provide
numerous growth opportunities to the polybutadiene market players during the
forecast period.
Global
Polybutadiene Market Share By End-User, 2017 - 2026
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Competitive Landscape and Key Vendors:
Asia-Pacific
generated the highest revenue in the Polybutadiene market in 2017, and is
expected to lead the global market throughout the forecast period. The
increasing economic growth in the region, growth in automotive and
manufacturing industries, and rising standards of living are expected to drive
the market growth. Increasing disposable incomes in developing countries of
this region, increasing applications of polybutadiene, and rising vehicle
production are further expected to support market growth. Growing demand for
tire production, and industrial automation in the region are expected to further
provide growth opportunities during the forecast period.
The major
players operating in the polybutadiene market include China Petroleum &
Chemical Corporation, JSR Corporation, Reliance Industries Limited, Lanxess AG,
Kumho Petrochemical Co. Ltd., The Goodyear Tire & Rubber Company, UBE
Industries, Ltd., Synthos S.A., Evonik Industries, and LyondelBasell Industries
NV among others. These companies launch new products and collaborate with other
market leaders to innovate and launch new products to meet the increasing needs
and requirements of consumers.
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