Bio-polybutadiene Market Size, Share & Trends Analysis Report By Product (High CIS Polybutadiene, Low CIS Polybutadiene, High Trans Polybutadiene), By Application (Tire Manufacturing, Polymer Modification), By Region, And Segment Forecasts, 2023 - 2030

Bio-polybutadiene Market Growth & Trends

The global bio-polybutadiene market size is expected to reach USD 1.93 billion by 2030, registering a CAGR of 20.1% from 2023 to 2030, according to a new study by Grand View Research, Inc. The demand for bio-polybutadiene is driven by a growing global focus on sustainability and the need to reduce reliance on fossil fuels. Additionally, increasing regulations on emissions and waste management in many countries are also driving the demand for sustainable materials.

The market for bio-polybutadiene is still in its early stages of development, and the availability and cost of biomass sources can be a limiting factor for large-scale production. However, advances in biotechnology and process engineering are making it more feasible to produce bio-polybutadiene on a larger scale, which is expected to drive market growth over the forecast period.

Moreover, growing interest in bio-based materials across the globe is driven by the increasing demand for sustainable products and the government's focus on reducing carbon emissions. The market is also driven by the growing automotive industry in countries such as China, India, and Japan and the presence of large-scale automotive manufacturers in the world such as General Motors, Ford, Tesla, Honda, Toyota, Volkswagen Group, BMW Group, Kia, and Tata Motors is expected to boost the demand for bio-based polybutadiene in the region.

Tire manufacturing application segment led the market and accounted for more than 75.0% share of the global revenue in 2022. The use of bio-polybutadiene in tire manufacturing offers several advantages over traditional synthetic rubber. Bio-polybutadiene is a type of synthetic rubber that is derived from renewable resources, such as plant-based materials, which makes it more environmentally friendly and excel the demand for bio-polybutadiene across the globe.

The products in the market comprise High cis polybutadiene, high vinyl polybutadiene, low cis polybutadiene, and high trans polybutadiene. The increase in demand for high cis polybutadiene derivatives can be attributed to the elevated growth resistance and durability exhibited by these products. Demand for high cis polybutadiene derivatives is expected to grow rapidly due to increasing tire manufacturing applications, which will propel the growth of the market.

Bio-polybutadiene Market Report Highlights

• Asia Pacific dominated the market for bio-polybutadiene and accounted for more than 46% share of the global revenue in 2022 with a CAGR of 20.2% over the forecast period due to the increasing demand for sustainable products and the government's focus on reducing carbon emissions
• High cis polybutadiene was estimated to be the largest and fastest growing product segment in global market in 2022 and is also anticipated to dominate the market over the forecast period
• Tire manufacturing application segment dominated the market and accounted for more than 75.0% share of the global revenue in 2022 due to its high resilience and excellent wear resistance properties
• In July 2022, Evonik Industries AG launched a Sustainable Bio-based Liquid Polybutadiene in its manufacturing facility based in Marr, Germany with the brand name POLYVEST eCO which will reduce the feedstock of fossil raw materials by 99.9%.

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