Liquid Polybutadiene Market-Regional Analysis
The regional evaluation of the liquid polybutadiene market consists of regions such as the Middle East, Africa, Asia Pacific, Europe, North America, and Latin America. Among the regions, the Asia Pacific region is responsible for the main market portion in 2016 and is expected to develop at the highest CAGR of 5.34% to reach USD 1,483.2 million by the conclusion of 2023. The control of the Asia Pacific region is chiefly credited to the speedy industrialization in the region along with the incidence of an extensive number of producers together with cheap labor cost. Asia Pacific region is trailed by Europe, which accounted for the next largest market share due to intensifying renovation and repair in the construction industry. As of 2016, Germany was responsible for the largest market share of 29.70 % in Europe and likely to remain dominant through the forecast period owing to greater penetration of end-user industries in the country. North America is another noteworthy region in the liquid polybutadiene market. The US controls the North American market in terms of value and volume. The Latin America and the Middle East & Africa are projected to develop at a modest rate during the forecast period.
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Competitive Analysis
The forces that are having a considerable pull in the market’s development are dynamically changing, leading to the creation of novel opportunities. The stronger influence of buyer purchasing behavior is dictating the expansion of the market to a great extent. The allocation of assets is being done judiciously so as to ensure improved growth opportunities. The pricing of goods in the market is done in a manner that ensures advantages to individuals and competitors. The industry cost make-up is also likely to modify with time. The role of the government in the market is substantially motivating the market. Also, the development of technology has increased momentum, guiding to improved market growth. The competition in the market is conducive to the overall growth of the market. The new players in the market are motivated by the presence of conducive factors prevailing in the market.
The prominent companies in the liquid polybutadiene market are
- Kuraray Co. Ltd (Japan)
- Evonik Industries AG (Germany)
- NIPPON SODA CO., LTD (Japan)
- SIBUR International GmbH (Austria)
- Versalis S.p.A (Italy)
- Cray Valley (France)
- Idemitsu Kosan Co., Ltd. (Japan)
Liquid Polybutadiene Market – Insight
The growing requirement for low volatile organic compounds is instrumental in increasing the progress of the liquid polybutadiene market in recent years. Reports that gauge the materials industry have been made available by Market Research Future, which creates reports on several industry verticals that review the market growth and prospects. The market is estimated to gain USD 3,776.5 million in revenues by 2023 while progressing at a CAGR of 4.85% in the forecast period.
The escalated use of plastics is encouraging the use of liquid polybutadiene at an accelerated pace in the coming period. The surge in tire manufacturing is anticipated to reinforce the development of the liquid polybutadiene market in the coming years. The surge in the usage of liquid polybutadiene in the transportation sector is expected to create new avenues for growth in the impending period.
Global Liquid Polybutadiene Market – Segments
For enhanced understanding, the market has been segmented into three key dynamics: –
By Application
- Tire Manufacturing
- Industrial Rubber
- Polymer Modification
- Protective Films
- Chemicals
- Coatings
- Adhesives & Sealants
By End-use
- Transportation
- Construction
- Industrial
By Regions
- North America
- Asia Pacific
- Europe
- Rest-of-the-World
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