Bio-polybutadiene Market Size, Share & Trends Growth [2031]
Bio-polybutadiene Market Size, Share & Trends Growth [2031]
Segments - Bio-polybutadiene Market by Source (Biomass, Sugar, and Others), by Application (Tire, Head Lamps, PU-foam, 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 Middle East & Africa (MEA)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2031
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Report Description
Bio-polybutadiene Market Outlook
The Global Bio-polybutadiene Market was estimated at USD 40.66 Million in 2022 and is anticipated to reach USD 69.24 Million by 2031, expanding at a CAGR of 6.4% during the forecast period.
Bio-polybutadiene is a biopolymer that is produced by using renewable resources such as sugarcane, corn, and others, instead of fossil fuels. It is widely employed in the manufacture of tires, adhesives, sealants, and packaging materials. The Global Bio-polybutadiene Market size is expected to grow at a significant pace in the coming years, due to the increase in the demand for sustainable polymers.
Macro-economic Factors
Construction & Infrastructure Development
Bio-polybutadiene has various applications in construction such as adhesives & sealants, binder for dusty & dry quartz sand, binder for soil stabilization, modifier of silicone sealants, insulated glass sealants, joint sealants, and others.
According to Oxford Economics, in 2030, China, the US, and India are anticipated to account for 57% of all global construction, boosting the amount of construction output by 85% to USD 15.5 trillion globally by 2030. Building & construction activities in the southern US states are expected to surge in the coming years, due to rapid population expansion and growth in the economy.
Sustainability and Environmental Concerns
A large and growing number of manufacturers are reaping substantial financial, environmental, and product quality benefits from sustainable manufacturing technologies. Sustainable manufacturing of Bio-polybutadiene is deeply co-related with economically sound processes that minimize negative environmental impacts and are highly energy efficient.
In the bio-polybutadiene market, sustainable manufacturing practices help to raise production safety standards, which improve the industry compliance requirements with the growing the bio-polybutadiene sector. These factors related to sustainability and environmental concerns are expected to propel the Global Bio-polybutadiene Market during the forecast period.
Industrialization
Industrialization drives the demand for bio-polybutadiene in manufacturing, automotive, construction, electrical & electronics, and others, making a positive impact on the market. According to the Netherlands Bureau for Economic Policy Analysis (CPB), global industrial production increased by 3.3% in 2022. This reflects an increase in the output as compared to the 2.8% annual average for the previous ten years.
China, the US, Japan, Germany, India, South Korea, Italy, France, the UK, and Indonesia are the top 10 manufacturing nations across the globe. In advanced economies, industrial production exceeded pre-pandemic levels in 2022.
The main factor driving the production is rising output in other advanced economies. Industrial production has increased in 2022 by 4% as compared to the previous year (2021). This has brought industrial production to more than 8% above pre-pandemic levels in these advanced economies.
Bio-polybutadiene Market Dynamics
Market Driver - Increase in the Demand for Sustainable Polymers
Growing environmental concerns have led companies and consumers to search for alternatives to conventional materials derived from petroleum. Renewable resources such as biomass or feedstock obtained from plants are used to create bio-polybutadiene. It has a less carbon footprint as compared to the conventional polybutadiene.
This makes it an environmentally friendly substitute, lessening the negative effects of several industries on the environment such as the construction, automobile, and medical sectors. Therefore, the market for bio-polybutadiene is anticipated to rise during the forecast period, due to the increasing demand for sustainability.
Market Driver- Growing Automotive Industry
Rubber materials and bio-polybutadiene are widely and extensively used in the automobile industry. The global market has witnessed a surge in demand for bio-polybutadiene rubber, majorly from the automobile and tire industries. Synthetic rubber is popular in electric vehicles, as it performs better than conventional materials, which in turn increases the demand for these vehicles.
Government regulations and the improving regulatory environment encourage the use of synthetic rubber in the expansion of the electric vehicle sector. The demand for bio-polybutadiene is anticipated to rise during the forecast period, due to the global recovery of the automotive industry and the growing use of electric vehicles.
Market Driver- Government Initiatives and Regulations
Governments across the globe have designed policies and regulations to upstream the usage of bio-polybutadiene to reduce the usage of greenhouse gas emissions.
Various companies are adapting the usage of bio-polybutadiene and taking the initiative into tax benefits, grants, and subsidies, which are helping the companies to adapt the usage of bio-polybutadiene. The initiatives have impacted positively on the bio-polybutadiene market by creating a favorable environment.
Market Restraint- Limited Supply and High Cost
The bio-polybutadiene supply is still less as compared to petroleum that is used in vehicles. This crisis in the availability of bio-polybutadiene in an inexpensive manner is the main reason to increase in the cost value of bio-polybutadiene in the market. This limited supply restricts some industries from using bio-polybutadiene, and therefore, the usage of bio-polybutadiene is degraded at the industrial level.
Scope of Bio-polybutadiene Market Report
The report on the Global Bio-polybutadiene Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Bio-Polybutadiene Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016 and 2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
By Source (Biomass, Sugar, and Others), By Application (Tire, Head Lamps, PU Foams, Insulated Glass, Chlorinated Rubbers, Electrical Insulations, and Others), and By End-use Industry (Automotive, Polymer, Construction, Electrical & Electronics, and Others) |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered |
Evonik, MICHELIN, Versalis S.p.A., Synthos, ZEON CORPORATION, and Asahi Kasei Corporation |
Bio-polybutadiene Market Segmental Outlook
On the basis of source type, the market is divided into biomass, sugar, and others. The sugarcane segment held XX% market share in 2022 and is expected to hold XX% market share in 2031.
According to the bio-polybutadiene market trends, the market is expected to be dominated by sugarcane in terms of source over the forecast period. Sugarcane juice is transformed into bio-based butadiene using a fermentation method, which is then polymerized to create sugarcane-based bio-polybutadiene.
Sugarcane is a profitable source for the production of bio-polybutadiene, as it is a highly renewable crop that is produced in tropical and subtropical climates with plenty of sunshine and rainfall. It also contains a lot of sugar, which is easily transformed into bio-based compounds such as butadiene.
On the basis of application, the market is divided into tire, head lamps, PU-foam, insulated glass, chlorinated rubbers, Electrical insulations, and others.
The tire segment led the market and accounted for approximately XX% of global revenue in 2022, due to its high resilience and excellent wear resistance properties.
The usage of bio-polybutadiene in tire production is increasing as compared to conventional synthetic rubber. Bio-polybutadiene is a synthetic rubber type that has no negative impact on the environment, as it comes from renewable resources such as plant-based components. Moreover, it possesses certain qualities that raises the tire performance.
The potential of bio-polybutadiene to increase tire rolling resistance and wet traction is its key benefits in tire production. Bio-polybutadiene has a higher glass transition temperature as compared to conventional synthetic rubber, making it increasingly resistant to deformation at high temperatures. Therefore, the tires have reduced rolling resistance and enhanced traction on wet surfaces, which increases the fuel economy. In addition to these advantages, using bio-polybutadiene in tire production lessens the carbon footprint. Tire producers reduce their dependency on fossil fuels and their greenhouse gas emissions by producing synthetic rubber from renewable resources.
On the basis of the end-use industry, the market is fragmented into automotive, polymer, construction, electrical & electronics, and others.
The demand for bio-polybutadiene is driven by the automotive industry, which uses it to make tires, rubber parts, sealants, and adhesives. The application of bio-polybutadiene is in tires and additional automotive materials and devices. It has several advantages, including more sustainability, and lower greenhouse gas emissions.
Bio polybutadiene is also heavily used in this business for the manufacture of sealants, varnishes that improve durability and weather resistance. Bio-polybutadiene has high flexibility at low temperatures.
Regional Outlook
On the basis of region, the bio-polybutadiene market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in Asia Pacific is estimated to hold a significant share from 2023 to 2031.
The region accounted for XX% of the global market share in 2022. The increase in the demand for biobased materials in emerging economies such as China and India as well as rapid industrialization are boosting the market expansion in the region. Growth in the automotive and construction industries is also boosting the demand for bio-polybutadiene in Asia Pacific.
North America held XX% market share in 2022 and it is expected to hold XX% of share of the global market in 2031. The rise in the demand for sustainable materials in the automotive and construction industries as well as the presence of major bio-based chemical manufacturers in the region are fueling the demand for bio-polybutadiene. Favorable government policies promoting the usage of sustainable materials are augmenting the demand for bio-polybutadiene in North America as well.
Key Benefits for Industry Participants & Stakeholders
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In-depth Analysis of the Global Bio-Polybutadiene Market
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Historical, Current, and Projected Market Size in terms of Value
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Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
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Industry Drivers, Restraints, and Opportunities Covered in the Study
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Recent Industry Trends and Developments
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Competitive Landscape & Strategies of Key Players
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Neutral Perspective on Global Bio-polybutadiene Market Performance
Segments
By Source
- Biomass
- Sugar
- Others
By Application
- Tire
- Head Lamps
- PU-Foam
- Insulated Glass
- Chlorinated Rubbers
- Electrical Insulations
- Others
By End Use Industry
- Automotive
- Polymer
- Construction
- Electrical & Electronics
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Market Players Profiled in the Report
- Evonik
- MICHELIN
- Versalis S.p.A.
- Synthos
- ZEON CORPORATION
- Asahi Kasei Corporation
Competitive Landscape
Manufacturers operating in the Global Bio-polybutadiene Market include Evonik, MICHELIN, Versalis S.p.A., Synthos, ZEON CORPORATION, and Asahi Kasei Corporation.
Key Developments
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In June 2022, the Coating & Adhesive Resins business line of Evonik introduced a new line of environmentally friendly liquid polybutadienes. It has been demonstrated that using sustainably produced butadiene in the production of this cutting-edge product line that reduces the usage of fossil raw materials by up to 99.9%.
Frequently Asked Questions
Additional company profiles can be provided on request. For a discussion related to the above findings, click Speak to Analyst.
Supply chain disruptions, fluctuation of raw material prices, environmental regulations, and construction & infrastructure development are some of the macroeconomic factors impacting the market.
Major manufacturers include Evonik, MICHELIN, Versalis S.p.A., Synthos, ZEON CORPORATION, and Asahi Kasei Corporation.
COVID-19 hampered the bio-polybutadiene market moderately, as it is used in various end-use industries.
In addition to market size (in USD Million) company market share (in % for the base year 2020), the tire Industry Statistics, market opportunities in the US, Canada, & Europe, automotive industry & correlation with tire Industry.
The base year considered for the Global Bio-polybutadiene Market report is 2022. The complete analysis period is 2016 to 2031, wherein, 2016, and 2021 are the historic years, and the forecast is provided from 2023 to 2031.
Table Of Content
Chapter 1 Executive SummaryChapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Bio-Polybutadiene Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Bio-Polybutadiene Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Bio-Polybutadiene Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Bio-Polybutadiene Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Bio-Polybutadiene Market Size & Forecast, 2016-2031
4.5.1 Bio-Polybutadiene Market Size and Y-o-Y Growth
4.5.2 Bio-Polybutadiene Market Absolute $ Opportunity
Chapter 5 Global Bio-Polybutadiene Market Analysis and Forecast By Source
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Source
5.1.2 Basis Point Share (BPS) Analysis By Source
5.1.3 Absolute $ Opportunity Assessment By Source
5.2 Bio-Polybutadiene Market Size & Volume Forecast By Source
5.2.1 Biomass
5.2.2 Sugar
5.2.3 Others
5.3 Market Attractiveness Analysis By Source
Chapter 6 Global Bio-Polybutadiene Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Bio-Polybutadiene Market Size & Volume Forecast By Application
6.2.1 Tire
6.2.2 Head Lamps
6.2.3 PU-Foam
6.2.4 Insulated Glass
6.2.5 Chlorinated Rubbers
6.2.6 Electronical Insulations
6.2.7 Others
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Bio-Polybutadiene Market Analysis and Forecast By End-Use Industry
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities By End-Use Industry
7.1.2 Basis Point Share (BPS) Analysis By End-Use Industry
7.1.3 Absolute $ Opportunity Assessment By End-Use Industry
7.2 Bio-Polybutadiene Market Size & Volume Forecast By End-Use Industry
7.2.1 Automotive
7.2.2 Polymer
7.2.3 Construction
7.2.4 Electrical & Electronics
7.2.5 Others
7.3 Market Attractiveness Analysis By End-Use Industry
Chapter 8 Global Bio-Polybutadiene Market Analysis and Forecast by Region
8.1 Introduction
8.1.1 Key Market Trends & Growth Opportunities by Region
8.1.2 Basis Point Share (BPS) Analysis by Region
8.1.3 Absolute $ Opportunity Assessment by Region
8.2 Bio-Polybutadiene Market Size & Volume Forecast by Region
8.2.1 North America
8.2.2 Europe
8.2.3 Asia Pacific
8.2.4 Latin America
8.2.5 Middle East & Africa (MEA)
8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
9.1 Introduction
9.2 Current & Future Impact Analysis
9.3 Economic Impact Analysis
9.4 Government Policies
9.5 Investment Scenario
Chapter 10 North America Bio-Polybutadiene Analysis and Forecast
10.1 Introduction
10.2 North America Bio-Polybutadiene Market Size & Volume Forecast by Country
10.2.1 U.S.
10.2.2 Canada
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 North America Bio-Polybutadiene Market Size & Volume Forecast By Source
10.6.1 Biomass
10.6.2 Sugar
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis By Source
10.8 Absolute $ Opportunity Assessment By Source
10.9 Market Attractiveness Analysis By Source
10.10 North America Bio-Polybutadiene Market Size & Volume Forecast By Application
10.10.1 Tire
10.10.2 Head Lamps
10.10.3 PU-Foam
10.10.4 Insulated Glass
10.10.5 Chlorinated Rubbers
10.10.6 Electronical Insulations
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
10.14 North America Bio-Polybutadiene Market Size & Volume Forecast By End-Use Industry
10.14.1 Automotive
10.14.2 Polymer
10.14.3 Construction
10.14.4 Electrical & Electronics
10.14.5 Others
10.15 Basis Point Share (BPS) Analysis By End-Use Industry
10.16 Absolute $ Opportunity Assessment By End-Use Industry
10.17 Market Attractiveness Analysis By End-Use Industry
Chapter 11 Europe Bio-Polybutadiene Analysis and Forecast
11.1 Introduction
11.2 Europe Bio-Polybutadiene Market Size & Volume Forecast by Country
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 U.K.
11.2.5 Spain
11.2.6 Russia
11.2.7 Rest of Europe
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Europe Bio-Polybutadiene Market Size & Volume Forecast By Source
11.6.1 Biomass
11.6.2 Sugar
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis By Source
11.8 Absolute $ Opportunity Assessment By Source
11.9 Market Attractiveness Analysis By Source
11.10 Europe Bio-Polybutadiene Market Size & Volume Forecast By Application
11.10.1 Tire
11.10.2 Head Lamps
11.10.3 PU-Foam
11.10.4 Insulated Glass
11.10.5 Chlorinated Rubbers
11.10.6 Electronical Insulations
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
11.14 Europe Bio-Polybutadiene Market Size & Volume Forecast By End-Use Industry
11.14.1 Automotive
11.14.2 Polymer
11.14.3 Construction
11.14.4 Electrical & Electronics
11.14.5 Others
11.15 Basis Point Share (BPS) Analysis By End-Use Industry
11.16 Absolute $ Opportunity Assessment By End-Use Industry
11.17 Market Attractiveness Analysis By End-Use Industry
Chapter 12 Asia Pacific Bio-Polybutadiene Analysis and Forecast
12.1 Introduction
12.2 Asia Pacific Bio-Polybutadiene Market Size & Volume Forecast by Country
12.2.1 China
12.2.2 Japan
12.2.3 South Korea
12.2.4 India
12.2.5 Australia
12.2.6 South East Asia (SEA)
12.2.7 Rest of Asia Pacific (APAC)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Asia Pacific Bio-Polybutadiene Market Size & Volume Forecast By Source
12.6.1 Biomass
12.6.2 Sugar
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis By Source
12.8 Absolute $ Opportunity Assessment By Source
12.9 Market Attractiveness Analysis By Source
12.10 Asia Pacific Bio-Polybutadiene Market Size & Volume Forecast By Application
12.10.1 Tire
12.10.2 Head Lamps
12.10.3 PU-Foam
12.10.4 Insulated Glass
12.10.5 Chlorinated Rubbers
12.10.6 Electronical Insulations
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
12.14 Asia Pacific Bio-Polybutadiene Market Size & Volume Forecast By End-Use Industry
12.14.1 Automotive
12.14.2 Polymer
12.14.3 Construction
12.14.4 Electrical & Electronics
12.14.5 Others
12.15 Basis Point Share (BPS) Analysis By End-Use Industry
12.16 Absolute $ Opportunity Assessment By End-Use Industry
12.17 Market Attractiveness Analysis By End-Use Industry
Chapter 13 Latin America Bio-Polybutadiene Analysis and Forecast
13.1 Introduction
13.2 Latin America Bio-Polybutadiene Market Size & Volume Forecast by Country
13.2.1 Brazil
13.2.2 Mexico
13.2.3 Rest of Latin America (LATAM)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Latin America Bio-Polybutadiene Market Size & Volume Forecast By Source
13.6.1 Biomass
13.6.2 Sugar
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis By Source
13.8 Absolute $ Opportunity Assessment By Source
13.9 Market Attractiveness Analysis By Source
13.10 Latin America Bio-Polybutadiene Market Size & Volume Forecast By Application
13.10.1 Tire
13.10.2 Head Lamps
13.10.3 PU-Foam
13.10.4 Insulated Glass
13.10.5 Chlorinated Rubbers
13.10.6 Electronical Insulations
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
13.14 Latin America Bio-Polybutadiene Market Size & Volume Forecast By End-Use Industry
13.14.1 Automotive
13.14.2 Polymer
13.14.3 Construction
13.14.4 Electrical & Electronics
13.14.5 Others
13.15 Basis Point Share (BPS) Analysis By End-Use Industry
13.16 Absolute $ Opportunity Assessment By End-Use Industry
13.17 Market Attractiveness Analysis By End-Use Industry
Chapter 14 Middle East & Africa (MEA) Bio-Polybutadiene Analysis and Forecast
14.1 Introduction
14.2 Middle East & Africa (MEA) Bio-Polybutadiene Market Size & Volume Forecast by Country
14.2.1 Saudi Arabia
14.2.2 South Africa
14.2.3 UAE
14.2.4 Rest of Middle East & Africa (MEA)
14.3 Basis Point Share (BPS) Analysis by Country
14.4 Absolute $ Opportunity Assessment by Country
14.5 Market Attractiveness Analysis by Country
14.6 Middle East & Africa (MEA) Bio-Polybutadiene Market Size & Volume Forecast By Source
14.6.1 Biomass
14.6.2 Sugar
14.6.3 Others
14.7 Basis Point Share (BPS) Analysis By Source
14.8 Absolute $ Opportunity Assessment By Source
14.9 Market Attractiveness Analysis By Source
14.10 Middle East & Africa (MEA) Bio-Polybutadiene Market Size & Volume Forecast By Application
14.10.1 Tire
14.10.2 Head Lamps
14.10.3 PU-Foam
14.10.4 Insulated Glass
14.10.5 Chlorinated Rubbers
14.10.6 Electronical Insulations
14.10.7 Others
14.11 Basis Point Share (BPS) Analysis By Application
14.12 Absolute $ Opportunity Assessment By Application
14.13 Market Attractiveness Analysis By Application
14.14 Middle East & Africa (MEA) Bio-Polybutadiene Market Size & Volume Forecast By End-Use Industry
14.14.1 Automotive
14.14.2 Polymer
14.14.3 Construction
14.14.4 Electrical & Electronics
14.14.5 Others
14.15 Basis Point Share (BPS) Analysis By End-Use Industry
14.16 Absolute $ Opportunity Assessment By End-Use Industry
14.17 Market Attractiveness Analysis By End-Use Industry
Chapter 15 Competition Landscape
15.1 Bio-Polybutadiene Market: Competitive Dashboard
15.2 Global Bio-Polybutadiene Market: Market Share Analysis, 2022
15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
15.3.1 Asahi Kasei Corporation
15.3.2 Evonik
15.3.3 MICHELIN
15.3.4 Versalis S.p.A.
15.3.5 Synthos
15.3.6 ZEON CORPORATION
Methodology
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