WASHINGTON, July 12, 2023 (GLOBE NEWSWIRE) -- The Global Butadiene Market is valued at USD 11.83 Billion in 2022 and is projected to reach a value of USD 38.35 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 18.3% over the forecast period 2023-2030.
One of the most significant economic areas is the Butadiene business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for Butadiene, including rising investment requirements, developing technology, and new laws.
Get Access to Free Sample Research Report with Latest Industry Insights @ https://www.vantagemarketresearch.com/butadiene-market-1917/request-sample
Market Overview
According to Vantage Market Research, some of the key factors anticipated to accelerate the Butadiene market growth over the forecast period. One of the main factors that favorably affect the demand for Butadiene is the increasing demand for synthetic rubber. Butadiene is a key raw material used in the production of synthetic rubber, which is used to produce a wide range of products such as tires, hoses, belts, seals, and adhesives. The accelerating demand for synthetic rubber across various industries, such as automotive, construction, and electronics, is driving the growth of the butadiene market.
Additionally, the growing demand for butadiene derivatives such as styrene-butadiene (SBR), polybutadiene rubber (PBR), and acrylonitrile-butadiene-styrene (ABS) resins is further contributing to the market growth. However, the volatile prices of raw materials, stringent regulations, and environmental concerns are some of the key challenges that will impact the global butadiene market in the coming years.
The Asia Pacific Butadiene Market is anticipated to grow significantly over the forecast period. The automobile industry's expanding demand for styrene-butadiene rubber (SBR) and polybutadiene rubber (BR) is driving the market growth. SBR and BR are essential components used in tires, making the region a prime market for butadiene. Additionally, the rising demand for butadiene in producing plastics, synthetic rubber, and resins aims to drive market growth further. The region's growth in the construction industry is also fueling the demand for synthetic rubbers and plastics, contributing to the development of the Asia Pacific Butadiene Market. However, fluctuations in raw material prices and volatility in supply may hamper market growth.
Market Dynamics
Rising Demand from The Automotive Industry to Drive the Market:
Butadiene is an essential component of the automotive industry, as it is used to manufacture tires, hoses, engine mounts, and other rubber and plastic parts. The global butadiene market is witnessing a growing demand from the automotive industry, and this trend is expected to continue in the coming years. The automotive industry is one of the largest consumers of butadiene, accounting for nearly 60% of the total demand. Butadiene is used to produce synthetic rubber, which is used to manufacture tires. With the growing demand for automobiles, especially in emerging countries, the need for tires is also increasing. Apart from tires, butadiene is also used to produce various other automotive components, such as hoses, belts, gaskets, and seals. These components are used in the automobile's engine, transmission, and other systems. With the increasing demand for automobiles, the need for these components is also expected to rise, thereby fuelling the growth of the butadiene market.
Moreover, the automotive industry is also focusing on producing lightweight and fuel-efficient vehicles. Butadiene is used to produce high-performance plastics such as acrylonitrile-butadiene-styrene (ABS) and styrene-butadiene rubber (SBR), which are used to make lightweight and durable vehicle parts. With the increasing demand for lightweight and fuel-efficient vehicles, the need for these high-performance plastics is also expected to rise, which will drive the growth of the butadiene market.
Growing Demand for Plastics and Polymers to Impact the Market:
The global butadiene market is growing significantly due to the rising demand for plastics and polymers. Butadiene is a vital industrial chemical primarily used to produce synthetic rubber, used in various sectors, including automotive, construction, and consumer goods. The demand for butadiene is increasing due to the rising need for efficient packaging solutions, lightweight automotive parts, and strong construction materials. The growing population, urbanization, and changing lifestyle patterns have increased consumer demand for various products, such as packaging materials, clothes, and electronics. This has resulted in a surge in demand for butadiene as it is used to produce a wide range of plastics and polymers used in these products. The demand for synthetic rubber is also high due to its eco-friendly nature and cost-effectiveness.
Furthermore, the increasing awareness about the harmful effects of plastic waste on the environment has resulted in the development of sustainable and eco-friendly butadiene-based materials. These materials are recyclable and can be reused instead of discarded, reducing the environmental burden. The development of bio-based butadiene is also gaining traction due to the need for sustainable and eco-friendly solutions.
Top Market Players in the Global Butadiene Market
- BASF SE
- Dow Chemicals Company
- Royal Dutch Shell Plc
- ExxonMobil Corporation
- Sinopec
- TPC Group Inc.
- Evonik Industries AG
- Formosa Plastics Corporation
- Braskem S.A.
- INEOS Group Limited
- LyondellBasell Industries Holdings B.V.
Budget Limitation? Contact us for Special Discount and Pricing
Top Trends in Global Butadiene Market
- One trend that Vantage Market Research (VMR) expects to see in the Butadiene industry is the shift toward bio-based alternatives. The use of bio-based alternatives to butadiene, such as bio-based butadiene and renewable feedstocks, is gaining traction due to environmental concerns and the volatility of crude oil prices. This trend is expected to impact the market growth of traditional butadiene.
- Another trend that VMR predicts will continue in the Butadiene industry is the technological advancements in production processes. The development of new technologies to improve the efficiency and environmental sustainability of the production processes of butadiene is another trend in the market. For example, the use of advanced catalysts in butadiene production is expected to reduce the energy consumption and greenhouse gas emissions associated with the process.
Top Report Findings
- Based on the Product Type, the Styrene Butadiene Latex segment is a major contributor to the global Butadiene market. This segment finds application in the production of synthetic rubber, which is extensively used in the automotive industry for tire manufacturing. The increasing demand for fuel-efficient vehicles has resulted in a significant rise in the need for synthetic rubber and, subsequently, the demand for Butadiene. The Asia Pacific region remains a lucrative market for the Styrene Butadiene Latex segment due to the rising automotive industry in the region.
- Based on the Production Process, the Steam Cracking category in the global market is expected to witness significant growth in the forecast period. Steam cracking is the most common method used to produce butadiene, involving the thermal cracking of hydrocarbons at high temperatures.
- Based on the End-User, the Automobile Industries category controls most of the Butadiene market's revenue. Butadiene is used to produce synthetic rubber, which is essential for manufacturing tires, belts, hoses, and other automotive components. The increase in demand for vehicles worldwide is driving the growth of the butadiene market in the Automobile Industries segment.
Buy this Premium Research Report with Discount | Immediate Delivery @ https://www.vantagemarketresearch.com/buy-now/butadiene-market-1917/0
Top 10 Players Generates Most of the Revenue of the Global Butadiene Market
The global butadiene market is highly competitive, with some dominant players operating. These players include BASF SE, Dow Chemicals Company, Royal Dutch Shell Plc, ExxonMobil Corporation, Sinopec, TPC Group Inc., Evonik Industries AG, Formosa Plastics Corporation, Braskem S.A., INEOS Group Limited, and LyondellBasell Industries Holdings B.V. These companies have a significant market share in the butadiene market owing to their extensive product portfolio and distribution networks. The market has seen a consolidation of some of the key companies through strategic mergers, joint ventures, and partnerships aimed at technology transfer, research and development, and expansion in the market. The increasing demand for butadiene in the automotive, construction, and packaging industries is expected to intensify the competition further in the coming years.
Styrene Butadiene Rubber Category in Butadiene Market to Generate Major Revenue
Styrene Butadiene Rubber (SBR) is a synthetic rubber produced by the copolymerization of styrene and butadiene. SBR is widely used to make automotive tire treads, conveyor belts, and shoe soles, among other industrial and commercial products. The Styrene Butadiene Rubber segment holds a significant share of the global butadiene market due to its versatile properties and high demand from various end-use industries.
The growth of the automotive industry is one of the key driving factors for the Styrene Butadiene Rubber segment in the global butadiene market. SBR is primarily used in the production of tire treads, making it a crucial component of the tire manufacturing process. The increasing demand for automobiles, particularly in emerging economies, has increased the need for SBR. Additionally, the rise in vehicles on the road has increased the demand for replacement tires, further driving the demand for SBR.
Furthermore, the construction industry is another significant contributor to the growth of the Styrene Butadiene Rubber segment in the global butadiene market. SBR is used to produce waterproof coatings, sealants, and adhesives, making it an essential component in the construction industry. The increasing demand for waterproofing solutions for various applications, including roofs, foundations, and bathrooms, drives the demand for SBR.
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on Butadiene Market Forecast Report (2023-2030).
Global Butadiene Market Segmentation
By Product Type
- Styrene Butadiene Latex
- Styrene Butadiene Rubber
- Butadiene Rubber
- Acrylonitrile Butadiene Rubber
- Nitrile Butadiene Rubber
- Hexamethylenediamine
By Production Process
- Extractive Distillation
- Steam Cracking
By End-User
- Automobile Industries
- Building & Construction
- Chemicals
- Plastics and Polymers
- Consumer Products Industries
- Healthcare
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Read Full Report with TOC @ https://www.vantagemarketresearch.com/industry-report/butadiene-market-1917
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 11.83 Billion |
| Revenue Forecast by 2030 | USD 38.35 Billion |
| CAGR | 18.3% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | BASF SE, Dow Chemicals Company, Royal Dutch Shell Plc, ExxonMobil Corporation, Sinopec, TPC Group Inc., Evonik Industries AG, Formosa Plastics Corporation, Braskem S.A., INEOS Group Limited, LyondellBasell Industries Holdings B.V. |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/butadiene-market-1917/customization-request |
Browse More Reports from Vantage Library:
- Adhesives and Sealants Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/adhesives-and-sealants-market-1858
- Polylactic Acid Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/polylactic-acid-market-1679
- Polyurethane Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/polyurethane-market-1856
- Cosmetics Packaging Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/cosmetics-packaging-market-1862
- Nylon Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/nylon-market-1873
- Synthetic Rubber Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/synthetic-rubber-market-1887
- Thermoformed Plastics Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/thermoformed-plastics-market-1925
About Vantage Market Research:
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.
Follow Us on: LinkedIn | Twitter | Facebook | YouTube
Contact us
Eric Kunz
6218 Georgia Avenue NW Ste 1 - 564
Washington DC 20011-5125
United States Tel: +1 202 380 9727
Email: sales@vantagemarketresearch.com
Website:
https://www.vantagemarketresearch.com/
Latest Vantage Market Research Press Releases
Latest Vantage Market Research Blog
Vantage Market Research All Reports
Blog:
