Northbrook, IL -- (SBWIRE) -- 09/20/2019 -- The HTPB market projected to reach USD 215.7 Million by 2022, at a CAGR of 10.3% between 2017 and 2022. The HTPB market is driven by the rising demand for HTPB from various applications, such as HTPB-based rocket fuel, adhesives, sealants, waterproof coatings & membranes, potting and encapsulation & hard-plastic parts, and others.
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Rocket fuel is estimated to be the largest application of HTPB in 2017
Rocket fuel is estimated to be the largest application of the HTPB market in 2017, due to its use as a fuel and a binder in the production of solid rocket motor propellants. Propellants on burning produce thrust in rockets and are required to achieve terminal conditions such as range and speed. Due to HTPB's configuration, polyurethane solid rocket propellant binders based on HTPB polymer have better stress-strain properties (higher elongation) and better low-temperature properties than similar butadiene homopolymers with higher hydroxyl group functionality.
Construction & civil engineering is expected to be the fastest-growing end-use industry of the HTPB market
HTPB is used extensively in the preparation of adhesives for waterproof coating membranes and sealants for the construction & civil engineering industry. HTPB is used in elastomeric polyurethanes and shows high hydrophobicity due to the polybutadiene backbone. HTPB-based sealants are used worldwide in insulating glass windows. HTPB is used in sealants for insulating glass windows and is capable of providing excellence in adhesion, UV exposure resistance, and physical properties over a wide range of temperature.
On the basis of end-use industry:
- Construction & Civil Engineering
- Aerospace & Defense
- Automotive
- Electrical & Electronics
- Others (Rubber Industry, Textile Industry, Sports & Leisure Industry)
On the basis of region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
North America accounted for the largest share in the global HTPB market in 2017
North America is estimated to be the largest market for HTPB. The US is estimated to be the major market for HTPB in North America. Canada and Mexico are other major countries contributing to the growth of the HTPB market in the region. The increasing demand for HTPB from applications such as rocket fuel, adhesives, and sealants is expected to drive the HTPB market in these countries.
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Key companies profiled in the HTPB market research report are TOTAL Cray Valley (France), Evonik Industries (Germany), Idemitsu Kosan (Japan), CRS Chemicals (US), Emerald Performance Materials (US), ISLAND PYROCHEMICAL INDUSTRIES CORP (US), Monomer-Polymer & DAJAC Labs (US), Zibo Qilong Chemical Industry (China), and Aerocon Systems Co. (US). MACH I, (US), Polymer Source (Canada), and RCS Rocket Motor Components (US) are major distributors of HTPB globally.
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