Market Overview:

Global Hydroxyl-Terminated Polybutadiene (HTPB) Market is set to witness a CAGR of 9.5% to reach a market valuation of US$ 498.7 million by 2030, up from US$ 203 million in 2022.

Hydroxyl-terminated polybutadiene (HTPB) is an oligomer of the chemical substance butadiene with hydroxyl functional groups at each end. When hydroxyl-terminated polybutadiene is mixed with isocyanates, polyurethane polymers are made. It is a clear liquid that is about the same color as wax paper and has the same thickness as corn syrup. The main place where HTPB compounds are used is as solid rocket fuel. These polybutadienes are mostly used in the aircraft and defense industries because they have good water repellency, low glass transition temperatures, and low amounts of volatiles.

In the hydroxyl-terminated polybutadiene market, the biggest growth drivers are increasing investments in space technology and the growth of the aerospace and defense business around the world. The rise of the market is likely to be driven by countries like the US, China, and India investing more in space technology. A lot of coatings, packings, cushions, membranes, and adhesives use the qualities that drive growth. In composite propellant applications, it has become a potential binder for oxidants, metal fuels, and other additives. The growth of the global HTPB market should be helped by these reasons.

As the use of HTPB polyurethane as a flexible fuel binder for composite propellants becomes more common, more research will be done to make HTPBs that are more energetic and improve the ballistic performance of composite propellants. This is expected to lead the HTPB market over the next few years. It has also become a good way to hold oxidizers, metal fuels, and other additives together in composite propellants. Binders made from HTPB are strong and keep their shape, and they also have good mechanical qualities. This is likely to make the market grow over the next few years.

There are some limits and restrictions that will slow the growth of the business as a whole. The market for hydroxyl-terminated polybutadiene is held back by things like its high price. Compared to solid polybutadiene rubber, which is thought to be of little use to small producers, the price of polymer is quite high. Along with this, the cost of raw materials like butadiene monomer can go up and down, which could slow the growth of the global HTPB market as a whole. Still, growth possibilities are good because technology is getting better, polymers are being used more in building, and there is untapped potential in emerging markets.

Market Dynamics:

Market Drivers and opportunities :

• More and more people want innovative aircraft parts.

Aerospace parts are generally made from high-tech materials like hydroxyl-terminated polybutadiene, titanium alloys, nickel-based super alloys, and other ceramics. Material science has come a long way, which has helped airplane makers a lot. So, the use of hydroxyl-terminated polybutadiene in aerospace technology makes plane wings better and makes planes lighter and better at using fuel.

• Hydroxyl-terminated polybutadiene (HTPB) is becoming more popular in the auto business.

With more money in their pockets, people in the world's major economies are spending more. The number of people who want to buy cars has grown. This rise in car production can also be explained by the fact that loans are easy to get and people still want to move around on their own, especially after the pandemic. Trade has also led to more people wanting to buy commercial cars.

• The use of hydroxyl-terminated polybutadiene (HTPB) in solid rocket fuel

More and more governments are getting involved and interested in improving their space powers. Space agencies, study centers, and even private companies in some parts of the world are making more and more plans to launch unmanned space vehicles. More and more satellites are being sent up to help with contact. These are the main reasons why people want to buy more rocket power systems. The growth of the global aerospace business has a direct effect on the growth of the market for hydroxyl terminated polybutadiene.

• Have a positive view of consumer electronics

Consumer electronics or home electronics are electric items that are made to be used every day, usually in homes. Consumer electronics include things like cell phones, TVs, and circuit boards that are used for fun, connection, and entertainment. The consumer electronics and communications businesses keep the electronic manufacturing services (EMS) market going strong. As the competition in the industry gets tougher, EMS companies are using more innovative and strategic business plans. There is also a rise in the demand for hydroxyl-terminated polybutadiene. (HTPB).

Market Restraints:

• The hydroxyl-terminated polybutadiene has a high strain rate and good shock qualities. (HTPB)

Hydroxyl-terminated polybutadiene (HTPB) is a polymer glue that is used in solid rocket propellants and polymer-bonded explosives (PBXs). Even though it is only used in small amounts, the elastomeric binder takes up a lot of the energy from the blow. To correctly simulate how PBXs will react when they are put through large strains and strain rates, it is necessary to carefully model how they work.

• Hydroxyl-terminated polybutadiene (HTPB) grain can't be reshaped, reused, or recovered.

hydroxyl-terminated polybutadiene (HTPB), the most common type of hybrid rocket fuel, is an old thermosetting polymer that is often used as a glue for solid rocket propellant grains. The chemical and structural properties of hydroxyl-terminated polybutadiene (HTPB) are well known in the business, so it is still the main polymer used for hybrid fuel grain material.

Key Market Updates:

• In July 2019, Entegris announced that it had acquired MPD Chemicals, the parent company of Monomer-Polymer & Dajac Labs. This acquisition helped to grow and diversify Entegris' engineered materials portfolio
• In June 2017, TOTAL Cray Valley started commercial production of Krasol F 3000 diol. This product is an extension of the Ricon and Krasol product lines of liquid polybutadiene resins.
• In April 2017 Evonik introduced new products to the coatings and adhesives market at the European Coatings Show. The product portfolio consists of different types of coatings, extending the product range. New products will help the company increase its profits.
• In November 2014, Evonik Industries AG opened a new plant for hydroxyl-terminated polybutadiene (HTPB) in Marl. Evonik marketed HTPB under the brand name POLYVEST HT, and along with it, the company had extended its polybutadienes product portfolio by a further functionalized grade. This development helped the company to create goodwill for the company.

Major Market Segments:

By Type: 

• Free radical polymerization

The new method on the market is called free radical polymerization (FRP). It used to be used to make polyurethane foam and other thermoplastics, but now HTPB Sales Market is where it is mostly used. The high demand from end-use industries like automotive, building, electrical and electronics, and packaging, among others, is what drives this market.

• Anionic polymerization

Anionic polymerization is a kind of chemical process that is used to make polymers with anions. Adding sulfuric acid to water is the most usual way to make an anionic polymer. In another method, peroxides are used as starters and methanol is used as a solvent. The anionic ring-opening polymerization (AROP) process is the name for this method.

By Region:

North America dominated the Htpb market share at over 38%, followed by APAC and Europe. The increasing use of HTPB has increased its use in both the aerospace and defense sectors and the construction and civil engineering sectors in the region. By 2022, the US will hold the largest share of the North American market. The major manufacturers of HTPB are based in North America, including CRS Chemical (USA), Emerald Performance Materials (USA), and Monomer-Polymer & DAJAC Labs (USA).

The Asia-Pacific region is anticipated to dominate the market for hydroxyl-terminated polybutadiene over the forecast period, on account of rising demand from India and China.

In the electrical and electronic industries, hydroxyl-terminated polybutadiene is utilized as encapsulants and potting compounds. In the automotive industry, hydroxyl-terminated polybutadiene-based sealants are used for sealing headlamps, speakers, bumpers, and damping material. In 2019, China and India will produce approximately 30,2 million vehicles, a decrease of 7.5% and 12%, respectively, from their 2018 production levels. However, increasing ecological initiatives and the success of electric and hybrid vehicles are anticipated to drive market growth.

In the formulation of solid rocket propellants, hydroxyl-terminated polybutadiene is utilized to bind the fuel and oxidizing agent. Increasing space explorations by nations such as China and India are anticipated to drive the market during the forecast period.

In addition, the expanding construction industries in India and China are anticipated to propel market growth. According to the National Development and Reform Commission, the Chinese government approved 26 infrastructure projects in 2019 with an estimated investment of approximately USD 142 billion, with completion anticipated by 2023. In addition, the Indian government has allocated USD 63 billion for infrastructure in 2019-20 and plans to spend USD 1,400 billion over the next five years.

In addition to government support, the aforementioned factors are driving the rising demand for hydroxyl-terminated polybutadiene in the Asia-Pacific region over the forecast period.

Scope Of Report:

Market Key Players:

Evonik, Total Cray Valley, Idemitsu Kosan, CRS Chemicals, Emerald Performance Materials, Island Pyrochemical Industries, Zibo Qilong Chemical Industry, Aerocon Systems, Monomer-Polymer and Dajac Labs, RCS Rocket Motor Components

• Evonik

Evonik Industries AG is a publicly traded German chemical corporation with headquarters in Essen, North Rhine-Westphalia. It is one of the largest specialty chemicals companies in the globe and the second largest chemical company in Germany.

They provide Specialty Chemicals, Animal Nutrition, Specialty Additives, Smart Materials, Health, Care, Cosmetic Solutions, High Performance Polymers, Membranes, Silica, Innovation, Sustainability, Resource Efficiency, and Nutrition

• Zibo Qilong Chemical Industry

As one of the chemical industry, Zibo Qilong Chemical Industry Co., Ltd. is engaged in research and development, production, and sales of liquid rubber and specialty SBR. As a legal subsidiary, Zibo Elim Co. engages in the export of all products.

The terminal reactive functional group of the low molecular weight telechelic polymer is butadiene, with styrene as the main chain and reactive functional groups at both extremities. As a result of these functional groups by liquid rubber chain extension reaction, polymer formation. Liquid rubber is primarily used for elastomers, adhesives, epoxy resins, polyurethane material modification, and electrical potting and encapsulating material aspects. This category includes not only solid rubber rubber characteristics, but also casting materials and sealing materials. Additionally, the tire's pouring aspect can be used alone.
Product of this company Htpb, Ctpb, Ctbn, SBR Latex, Dicyclopentadiene, Isoprene, Luhorez a-1095, Luhorez a-1110, Luhorez a-1100s, Carboxylated NBR Latex

• CRS Chemicals 

CRS chemical clients include makers and suppliers to the U.S. and other international militaries, as well as specific chemical industries. They offer key chemical products for the refractory, metal coating, and metal recovery businesses. This adds to the range of services they offer. CRS Chemicals helps clients reach their goals by giving them the technical support and goods they need to meet today's strict standards for making chemicals.

• Island  Pyrochemical Industries

IPI keeps strategic partnerships and alliances with the world's top chemical companies to buy and create chemicals that it doesn't make itself. IPI tests all products independently before sending them out. This makes sure that they meet all of  customers' requirements.

All of IPI's factories and offices are approved to meet ISO 9001:2008 standards for how they work.

Market segmentation

By Use:

• Construction and civil engineering 
• Aerospace and defense 
• Automotive 
• Electrical and electronics 
• Others

By Type: 

• Free radical polymerization

• Anionic polymerization

By Region:

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Conclusion :

The global market for hydroxyl-terminated polybutadiene (HTPB) is projected to increase at a CAGR of 9.5% between 2022 and 2030, from US$ 203 million in 2022 to US$ 498.7 million.

Hydroxyl-terminated polybutadiene (HTPB) is an oligomer of the chemical compound butadiene that contains hydroxyl functional groups at both ends. When hydroxyl-terminated polybutadiene and isocyanates are combined, polyurethane polymers are produced. It is a transparent liquid with the same consistency as maize syrup and the same color as wax paper. The primary application of HTPB compounds is as solid rocket propellant. These polybutadienes are predominantly used in the aerospace and defense industries due to their high water repellency, low glass transition temperatures, and low volatile content.

The largest growth drivers for the hydroxyl-terminated polybutadiene market are increasing investments in space technology and the global expansion of the aerospace and defense industries. Countries like the United States, China, and India are likely to propel the market's growth by investing more in space technology. Numerous coatings, packings, cushions, membranes, and adhesives utilize growth-promoting properties. It has become a potential binder in composite propellant applications for oxidants, metal fuels, and other additives. These factors should aid the expansion of the international HTPB market.