A shift from traditional rocket fuel towards technologically efficient rocket fuel is the major trend witnessed in the hydroxyl-terminated polybutadiene market . The technological advanced rocket fuel contains a molecule that has the potential of boosting rocket fuel efficiency by 20 to 30% compared to the current fuel. This is resulting in a shift in preference of consumers towards more advanced fuel.
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The major growth drivers identified in the hydroxyl-terminated polybutadiene market are the rising investment in space technologies around the globe and growing aerospace and defense industry. The rising investment in space technologies by countries such as the U.S., China, and India is expected to drive the market growth.
Based on application, the global hydroxyl-terminated polybutadiene market is categorized into rocket fuel, waterproof coating and membranes, adhesives, sealants, electrical and electronics, and others. Rocket fuel is the largest application area in the market and expected to register the highest growth during the forecast period.
High price is identified as main restraints in the hydroxyl-terminated polybutadiene market, which is expected to hinder the market growth in the coming years. The high price of the polymer is significantly higher as compared to solid polybutadiene rubber, which is expected to directly affect it usage by small manufacturers.
North America held the largest share in the hydroxyl-terminated polybutadiene market. During the forecast period, the North American market is expected to remain the largest consumer, owing to the increasing usage of the polymer in the various applications areas including aerospace and defense, construction and civil engineering.
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Some of the major players operating in the global hydroxyl-terminated polybutadiene market are CRS Chemicals, Emerald Performance Materials LLC, Total Cray Valley, Evonik Industries AG, Aerocon Systems Co., RCS Rocket Motor Components Inc., Zibo Qilong Chemical Industry Co. Ltd., and Mach I Inc.
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