The HTPB market size is estimated to be USD 131.9 Million in 2017 and is projected to reach USD 215.7 Million by 2022, at a CAGR of 10.3% between 2017 and 2022. HTPB is an oligomer produced by combining a hydroxyl-terminated polymer of butadiene and a cross-linking agent, either isocyanate or Methylene Diphenyl Diisocyanate (MDI). HTPB act as rocket fuel in the preparation of adhesives and sealants. It is also used in the production of adhesives for waterproof coatings and membranes. The growing use of HTPB as rocket fuel in solid rocket motor propellants is driving its market growth.
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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.
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) are leading players in the HTPB market. MACH I, (US), Polymer Source (Canada), and RCS Rocket Motor Components (US) are major distributors of HTPB globally.
Evonik is one of the leading specialty chemicals companies providing HTPB. The company manufactures HTPB under the brand name POLYVEST HT. HTPB provided by the company is used as a fuel in solid and composite rocket propellants and in the preparation of adhesives & sealants in the construction & civil engineering industry. The company is a leading player in the global HTPB market. The company is expecting high growth during the forecast period due to its strong product portfolio and focus on better positioning of HTPB. It is highly dependent on the European market as 50% of the company’s total revenue generated from HTPB is from this region.
TOTAL Cray Valley (TCV) is a developer, manufacturer, and supplier of hydrocarbon resins. It operates as a subsidiary of Total (France) since 2012. It forms a part of TOTAL’s refining and chemicals business segment. The company’s product offerings include functional diene-based polymers, (meth) acrylate functional metallic monomers, styrene maleic anhydride copolymers, and aromatic and aliphatic hydrocarbon resins based on C5 and C9 feed streams. These products are used in several applications such as adhesion, compatibility, cure chemistry, dispersion, property modification, rubber, and urethane chemistry. It offers HTPB commercially as Poly bd (Poly bd R-45HTLO resin, Poly bd R45M resin, and Poly bd R20LM resin). These are used in various applications such as potting and encapsulation, preparation of adhesives and sealants, polymer modification, and binders.
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