Hyderabad, July 12, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Butadiene Market Report (2023-2028)," the market is estimated to have a volume of 13,612.12 kilotons in 2023. It is expected to register a CAGR of 3.71% during the forecast period.
The growth of the Butadiene market was halted in the year 2020 due to disruption in the supply chains and manufacturing activities. Production halts because of the nationwide lockdown during the COVID-19 pandemic also impacted the market aggressively. In 2021, however, the Butadiene market experienced a substantial surge because of the increase in demand for polymer, plastic, and automotive manufacturing units.
Report Summary:
| Report Attribute | Details |
| Market Volume (2023) | 13,612.12 kilotons |
| Market Volume (2028) | 16,331.61 kilotons |
| CAGR (2023-2028) | 3.71% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Middle East & Africa |
| Largest Market | Asia-Pacific |
| Forecast Units | Volume (kilotons) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The development of the downstream market in Asia-Pacific. |
| Innovations in the use of bio-butadiene to produce thermoplastic, nylon, elastomers, and synthetic rubber. |
Which are the Top Companies in the Butadiene Market?
The Butadiene market is highly competitive and fragmented in nature. It has popular and established players who have made substantial investments in the market from multiple regions in Asia-Pacific.
The most crucial players in the butadiene market are:
- BASF SE
- Braskem
- China National Petroleum Corporation
- China Petroleum & Chemical Corporation
- Dow
- Evonik Industries AG
- Exxon Mobil Corporation
- Formosa Plastics Corporation
- INEOS
- JSR Corporation
- LG Chem
- LOTTE CHEMICAL TITAN HOLDING BERHAD
- LyondellBasell Industries Holdings BV
- Reliance Industries Limited
- Repsol
- Shell PLC
- SABIC
- TPC Group
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Key Highlights from the Butadiene Market Report:
The Domination of the Market by Tire and Rubber
- Butadiene is a major component in the production of elastomers and synthetic rubbers, which include styrene-butadiene rubber (SBR), polychloroprene (Neoprene), and nitrile rubber (NR).
- Polybutadiene rubber (PBR) and styrene-butadiene rubber (SBR) are used in the production of tires. Neoprene and nitrile rubber are used for manufacturing products like wetsuits, hoses, gaskets, seals, and gloves.
Growing Demand for Butadiene in Asia-Pacific
- The downstream market in Asia-Pacific has witnessed rapid growth in the last few years, which in turn, has boosted the demand for butadiene.
- China, which is recorded as one of the biggest manufacturing hubs in the world, experiences the presence of multiple indigenous players. As a result, the Chinese butadiene market is expected to experience a substantial boost in the coming years.
What are the Latest Developments in the Butadiene Market?
- In July 2022, INEOS Group and Sinopec made an announcement of agreements to facilitate a collaboration on three joint ventures. These ventures aimed to expand the production of petrochemicals to help meet the overall demand boost in the Chinese Market.
- In June 2022, BASF amplified the production of Li-ion batteries by expanding its Licity anode binders’ series. The second-generation styrene butadiene rubber (SBR) facilitates the use of silicon contents that exceed 20%. Additionally, they also offer higher capacities, reduced charging times and an increased number of charge/discharge cycles.
Mordor Intelligence has Segmented the Butadiene Market Based on Application, End-user Industry, and Geography:
- By Application (Market Size and Forecast based on Volume (kilotons), 2018-2028)
- Polybutadiene (PBR)
- Chloroprene
- Styrene-Butadiene (SBR)
- Nitrile Rubber (Acrylonitrile Butadiene NBR)
- Acrylonitrile Butadiene Styrene (ABS)
- Adiponitrile
- Sulfolane
- Ethylidene Norbornene
- Styrene-Butadiene Latex
- Other Applications
- By End-user Industry (Market Size and Forecast based on Volume (kilotons), 2018-2028)
- Plastic and Polymer
- Tire and Rubber
- Chemical
- Other End-user Industries
- By Geography (Market Size and Forecast based on Volume (kilotons), 2018-2028)
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Asia-Pacific
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Butadiene Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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