Market overview
The Global Bio-polybutadiene Market is expected to reach a valuation of USD 598.7 million in 2023 with a projected CAGR of 21.9% for the forecast period (2023-2032).
Bio-polybutadiene is a polymer derived from renewable feedstocks such as corn, sugarcane and vegetable oils. It serves as a sustainable substitute to synthetic polybutadiene rubber commonly used in tires, seals, coatings, etc.
Market Demand Drivers:
- Increasing regulations supporting consumption of bio-based polymers instead of fossil fuel-derived options.
- Shift in tire manufacturing towards developing green tires using natural rubber substitutes like bio-polybutadiene.
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Market Leading Segmentation
By Type
• Low Cis-Butadiene
• High Cis-Butadiene
• High Trans Butadiene
• High Vinyl Butadiene
By Application
• Polymer Modification
• Tire Manufacturing
• Industrial Rubber Manufacturing
Market Top Players
• 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
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Market Trends:
- Proliferation in RD activities to improve properties and performance efficiency of bio-polybutadiene.
- Strategic alliances between market players across the value chain to accelerate technology innovation and product deployment.
Key Opportunities:
- High applicability potential as sustainable alternative to traditional polybutadiene in tire manufacturing enhancing growth avenues.
- Favorable regional regulatory scenario and positive perception regarding eco-friendly materials expected to support rapid market penetration.
- Scope for cost optimization through process improvements in bio-based feedstock supply and manufacturing efficiency.
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