According to a recent market study published by Growth Market Reports, titled, "Global Bio-Polybutadiene Market" By Source (Biomass, Sugar, and Others), By Application (Tire, Head Lamps, PU Foams, Insulated Glass, Chlorinated Rubbers, Electrical Insulations, and Others), By End-use Industry (Automotive, Polymer, Construction, Electrical & Electronics, and Others) and Region (North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa): Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at 40.66 Million in 2022 and is expected to expand at a growth rate of 6.4% by 2031.

As per Growth Market Reports industry analyst, Swati Muthe, the global bio-polybutadiene market is anticipated to register significant growth during the forecast period, 2023-2031. Bio-polybutadiene is a biopolymer that is manufactured using renewable resources, such as corn or sugarcane, and plant oils, instead of fossil fuels.

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The demand for bio-based polybutadiene has increased, due to several factors. Growth in the automotive industry is driving the demand for bio-polybutadiene. Vehicle manufacturers are looking for ways to create lightweight vehicles while maintaining quality standards. Bio-polybutadiene offers improved impact resistance and elasticity, which makes it a main constituent in the production of high-performance tires. These tires boost fuel efficiency by reducing rolling resistance and increasing traction of tires to the surface, which offers great handling. It also increases the durability of tires and minimizes wear & tear of tires. Such factors are driving the market.

Urbanization is leading to a rise in the consumption of products, such as roofing materials, coatings, adhesives, sealants, and other construction chemical materials, which boosts the demand for bio-polybutadiene.

Bio-polybutadiene is extensively used in packaging industries for coatings, adhesives, and flexible films to provide biodegradable and sustainable solutions.

Bio-polybutadiene is used in the consumer goods industry to make toys, athletic goods, footwear, electronics, and other products. It provides excellent elasticity and imparts resistance to products. The medical and healthcare sectors use bio-polybutadiene to manufacture gloves, surgical instruments, medical gadgets, and other products.

Growth in electric vehicle sales is boosting the sales of bio-polybutadiene. The government of India has outlawed diesel vehicles that are older than ten years, and the number of electric vehicles being produced has increased. Specialized bio-polybutadiene tires that support the weight of the vehicle are utilized in the production of electric automobiles. The bio-polybutadiene market is being driven by the rise in the use of electric vehicles in both the private and business sectors.

The tire industry is already using a variety of renewable materials such as bio-based rubber, silica, natural and plant-derived oils, resins, and filler material tire industry is moving towards reducing energy dependency from non-renewable energy sources. Additionally, it is shifting towards reducing the total energy consumption.

Consumption of raw materials is proportionately growing, as the rubber industry is growing. By reducing the raw material consumption, reducing the tire weight and improving the quality parameters, increasing the consumption of bio based and renewable resources and reducing the dependency from the resources of petroleum origin. Further, industry is increasing its energy efficiency and reducing non-renewable energy source.

After styrene butadiene elastomer (SBR), polybutadiene elastomers (PBR) account for the second-largest volume of synthetic rubber produced globally. Vulcanized polybutadiene elastomers are ideal elastomers in the tire industry, due to its high resilience, abrasion resistance, and resistance. PBR is also used for manufacturing automotive parts, such as hoses, belts, and others.

Primary and secondary research methodology is used for keen observation and study of bio-polybutadiene. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information about the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to be updated with the latest market trends & developments. Validation of the estimated market size, and current and future trends is done by the key opinion leaders (KOLs). These KOLs are the CXO level people from key companies in the industry and possess experience of around 10-20 years in the industry. Secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, SEC filings, annual reports, broker & financial reports, and investor presentations are scanned to understand the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The outbreak of coronavirus disease in 2019 (COVID-19) restrained the global economy, created global interdependence, and challenged the governments of various nations. The pandemic raised concerns among economies and businesses by shifting focus to the online supply of consumer electronic gadgets & automotive components and creating manufacturing issues.

In January, the WHO labeled the COVID-19 outbreak as a public health emergency of global concern and proclaimed it a global pandemic in March 2020. This deadly virus has become one of the biggest pandemics in human history. The COVID-19 outbreak is a public health emergency that affected almost every industry. The long-term effects of the pandemic are expected to affect the growth of various industries during the forecast period, especially across Eastern Europe, the European Union, the US, and Eastern & Central Asia.

As of February 13, 2023, this pandemic had infected over 678,724,789 people, and over 6,791,202 people died from the disease. COVID-19 cases have been registered in more than 231 countries and territories. Many countries are economically weak, while others have poor healthcare systems that affect the economy and lives of people.

Key Takeaways from the Study:

Key players in the market include Evoni, MICHELIN, Versalis S.p.A., Synthos, ZEON CORPORATION, and Asahi Kasei Corporation.

Report Scope:

Report Metric

Details

Market Value in 2022

USD 40.66 Million

Market Growth Rate (from 2023 to 2031)

6.4%

Historical Data

2016 & 2021

Base Year

2022

Forecast Period

2023 – 2031

Units Considered

Value (USD Million)

Market Segments

By source (Biomass, Sugar, and Others), By Application (Tire, PU Foams, Insulated Glass, Chlorinated Rubbers, Electrical Insulations, and Others), By End-use Industry (Automotive, Polymer, Construction, Electrical & Electronics, and Others)

Key Companies Profiled

Evonik, MICHELIN, Versalis S.p.A., Synthos, ZEON CORPORATION, Asahi Kasei Corporation

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Raw material suppliers and Manufacturers

  • Demand Side: Bio-polybutadiene manufacturing companies

  • Regulatory Side: Concerned government authorities and other regulatory bodies