세계의 HTPB 시장 : 시장 규모 분석(등급별, 용도별, 중합 프로세스별, 지역별) 및 예측(2025-2035년)

The Global Hydroxyl-Terminated Polybutadiene (HTPB) Market is valued at approximately USD 1.32 billion in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 4.95% during the forecast period from 2025 to 2035. HTPB, a telechelic polymer predominantly used as a prepolymer, has become a key functional material across a wide range of industrial and defense applications. Owing to its superior mechanical properties, hydrolytic stability, and excellent fuel resistance, HTPB has gained substantial traction in rubber modification, adhesives, sealants, aerospace, and coatings. As industries increasingly rely on high-performance polymers to endure extreme operational environments, the demand for both regular and modified grades of HTPB continues to surge, underpinned by ongoing material innovations and end-use expansion.

The upward trajectory of the HTPB market is primarily being driven by its burgeoning applications across sectors like automotive, construction, and aerospace, where resistance to harsh chemicals and flexibility at low temperatures are non-negotiable. Furthermore, the advent of advanced catalytic polymerization processes-such as cobalt and neo-based catalysts-has amplified production efficiencies while delivering enhanced control over molecular weight distribution and end-group functionality. In addition, demand for carboxyl-terminated and high hydroxyl variants of polybutadiene is gaining ground in niche applications like missile propellants and high-bond strength adhesives, especially in defense and industrial sectors. However, the rising shift toward greener alternatives and the tightening of VOC and safety regulations may impose certain limitations on the growth curve, particularly in regions with aggressive environmental compliance norms.

Regionally, North America dominated the HTPB market landscape in 2025, largely due to its highly developed defense sector, technological superiority in polymer chemistry, and a robust demand for high-performance elastomers across manufacturing industries. Meanwhile, Europe continues to demonstrate consistent growth, bolstered by environmental sustainability efforts and adoption of advanced polymer formulations in automotive lightweighting strategies. On the other hand, the Asia Pacific region is expected to witness the fastest CAGR during the forecast period, owing to industrial expansion in emerging economies like China, India, and South Korea. These nations are investing heavily in infrastructure, aerospace R&D, and defense manufacturing, catalyzing regional demand for specialty polymers such as HTPB. Additionally, growing export opportunities and the development of local supply chains further amplify the region's role in shaping the global HTPB ecosystem.

Major market player included in this report are:

• BASF SE
• Croda International Plc.
• Baker Hughes Company
• Halliburton Company
• Chevron Phillips Chemical Company
• Trican Well Service Ltd.
• Aubin Group
• ExxonMobil Corporation
• Schlumberger Limited
• Impact Fluid Solutions
• Petrobras
• Sasol Limited
• Sinopec Corp.
• IGI Wax
• M&D Industries Of Louisiana, Inc.

Global HTPB Market Report Scope:

• Historical Data - 2023, 2024
• Base Year for Estimation - 2024
• Forecast period - 2025-2035
• Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
• Customization Scope - Free report customization (equivalent up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segments of the market are explained below:

By Grade:

• Regular Hydroxyl Terminated Polybutadiene
• High Hydroxyl Terminated Polybutadiene
• Low Hydroxyl Terminated Polybutadiene
• Carboxyl Terminated Polybutadiene

By Application:

• Rubber and Plastic
• Industrial
• Automotive
• Construction

By Polymerization Process:

• Cobalt Catalytic
• Neo Catalytic

By Region:

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

Table of Contents

Chapter 1. Global HTPB Market Report Scope & Methodology

• 1.1. Research Objective
• 1.2. Research Methodology
  • 1.2.1. Forecast Model
  • 1.2.2. Desk Research
  • 1.2.3. Top Down and Bottom-Up Approach
• 1.3. Research Attributes
• 1.4. Scope of the Study
  • 1.4.1. Market Definition
  • 1.4.2. Market Segmentation
• 1.5. Research Assumption
  • 1.5.1. Inclusion & Exclusion
  • 1.5.2. Limitations
  • 1.5.3. Years Considered for the Study

Chapter 2. Executive Summary

• 2.1. CEO/CXO Standpoint
• 2.2. Strategic Insights
• 2.3. ESG Analysis
• 2.4. Key Findings

Chapter 3. Global HTPB Market Forces Analysis

• 3.1. Market Forces Shaping the Global HTPB Market (2024-2035)
• 3.2. Drivers
  • 3.2.1. Increasing demand for high-performance elastomers in defense, automotive, and aerospace sectors
  • 3.2.2. Technological advancements in catalytic polymerization processes
• 3.3. Restraints
  • 3.3.1. Environmental concerns and regulatory constraints regarding synthetic polymers
  • 3.3.2. Emergence of bio-based and sustainable alternatives
• 3.4. Opportunities
  • 3.4.1. Rising investments in space and defense R&D in emerging economies
  • 3.4.2. Expanding applications in industrial adhesives and sealants

Chapter 4. Global HTPB Industry Analysis

• 4.1. Porter's 5 Forces Model
  • 4.1.1. Bargaining Power of Buyer
  • 4.1.2. Bargaining Power of Supplier
  • 4.1.3. Threat of New Entrants
  • 4.1.4. Threat of Substitutes
  • 4.1.5. Competitive Rivalry
• 4.2. Porter's 5 Force Forecast Model (2024-2035)
• 4.3. PESTEL Analysis
  • 4.3.1. Political
  • 4.3.2. Economical
  • 4.3.3. Social
  • 4.3.4. Technological
  • 4.3.5. Environmental
  • 4.3.6. Legal
• 4.4. Top Investment Opportunities
• 4.5. Top Winning Strategies (2025)
• 4.6. Market Share Analysis (2024-2025)
• 4.7. Global Pricing Analysis and Trends 2025
• 4.8. Analyst Recommendation & Conclusion

Chapter 5. Global HTPB Market Size & Forecasts by Grade 2025-2035

• 5.1. Market Overview
• 5.2. Global HTPB Market Performance - Potential Analysis (2025)
• 5.3. Regular Hydroxyl Terminated Polybutadiene
  • 5.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 5.3.2. Market Size Analysis, by Region, 2025-2035
• 5.4. High Hydroxyl Terminated Polybutadiene
  • 5.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 5.4.2. Market Size Analysis, by Region, 2025-2035
• 5.5. Low Hydroxyl Terminated Polybutadiene
  • 5.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 5.5.2. Market Size Analysis, by Region, 2025-2035
• 5.6. Carboxyl Terminated Polybutadiene
  • 5.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 5.6.2. Market Size Analysis, by Region, 2025-2035

Chapter 6. Global HTPB Market Size & Forecasts by Application 2025-2035

• 6.1. Market Overview
• 6.2. Global HTPB Market Performance - Potential Analysis (2025)
• 6.3. Rubber and Plastic
  • 6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 6.3.2. Market Size Analysis, by Region, 2025-2035
• 6.4. Industrial
  • 6.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 6.4.2. Market Size Analysis, by Region, 2025-2035
• 6.5. Automotive
  • 6.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 6.5.2. Market Size Analysis, by Region, 2025-2035
• 6.6. Construction
  • 6.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 6.6.2. Market Size Analysis, by Region, 2025-2035

Chapter 7. Global HTPB Market Size & Forecasts by Polymerization Process 2025-2035

• 7.1. Market Overview
• 7.2. Cobalt Catalytic
  • 7.2.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 7.2.2. Market Size Analysis, by Region, 2025-2035
• 7.3. Neo Catalytic
  • 7.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
  • 7.3.2. Market Size Analysis, by Region, 2025-2035

Chapter 8. Global HTPB Market Size & Forecasts by Region 2025-2035

• 8.1. HTPB Market, Regional Market Snapshot
• 8.2. Top Leading & Emerging Countries
• 8.3. North America HTPB Market
  • 8.3.1. U.S.
    • 8.3.1.1. Grade Breakdown Size & Forecasts, 2025-2035
    • 8.3.1.2. Application Breakdown Size & Forecasts, 2025-2035
  • 8.3.2. Canada
    • 8.3.2.1. Grade Breakdown Size & Forecasts, 2025-2035
    • 8.3.2.2. Application Breakdown Size & Forecasts, 2025-2035
• 8.4. Europe HTPB Market
  • 8.4.1. UK
    • 8.4.1.1. Grade Breakdown Size & Forecasts, 2025-2035
    • 8.4.1.2. Application Breakdown Size & Forecasts, 2025-2035
  • 8.4.2. Germany
  • 8.4.3. France
  • 8.4.4. Spain
  • 8.4.5. Italy
  • 8.4.6. Rest of Europe
• 8.5. Asia Pacific HTPB Market
  • 8.5.1. China
  • 8.5.2. India
  • 8.5.3. Japan
  • 8.5.4. Australia
  • 8.5.5. South Korea
  • 8.5.6. Rest of Asia Pacific
• 8.6. Latin America HTPB Market
  • 8.6.1. Brazil
  • 8.6.2. Mexico
• 8.7. Middle East and Africa HTPB Market
  • 8.7.1. UAE
  • 8.7.2. Saudi Arabia
  • 8.7.3. South Africa
  • 8.7.4. Rest of Middle East and Africa

Chapter 9. Competitive Intelligence

• 9.1. Top Market Strategies
• 9.2. BASF SE
  • 9.2.1. Company Overview
  • 9.2.2. Key Executives
  • 9.2.3. Company Snapshot
  • 9.2.4. Financial Performance (Subject to Data Availability)
  • 9.2.5. Product/Services Port
  • 9.2.6. Recent Development
  • 9.2.7. Market Strategies
  • 9.2.8. SWOT Analysis
• 9.3. Croda International Plc.
• 9.4. Baker Hughes Company
• 9.5. Halliburton Company
• 9.6. Chevron Phillips Chemical Company
• 9.7. Trican Well Service Ltd.
• 9.8. Aubin Group
• 9.9. ExxonMobil Corporation
• 9.10. Schlumberger Limited
• 9.11. Impact Fluid Solutions
• 9.12. Petrobras
• 9.13. Sasol Limited
• 9.14. Sinopec Corp.
• 9.15. IGI Wax
• 9.16. M&D Industries Of Louisiana, Inc.