WASHINGTON, Sept. 28, 2023 (GLOBE NEWSWIRE) -- 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.
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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 favorably affecting the demand for Butadiene is the growth of the automotive and construction industries.
We forecast that the automobile industries category in Butadiene market sales will account for more than 30% of total sales by 2030 due to rising demand for butadiene-based synthetic rubber in tire manufacturing. The increasing demand for fuel-efficient, lightweight, and durable tires from the automobile industry has led to a rise in the consumption of butadiene.
Asia-Pacific dominates the market, and this trend of dominance will continue throughout the projection period. Factors like a growth of the automotive and construction industries in countries like China, India, and Japan., increasing demand for synthetic rubber, favorable government policies, drive increased demand for Butadiene in this region.
Top Players in the Global Butadiene Market
- Royal Dutch Shell
- ExxonMobil Chemical
- LyondellBasell Industries
- BASF SE
- Sinopec Corporation
- INEOS Group AG
- Dow Chemical Company
- Braskem S.A.
- Eni S.p.A.
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Market Dynamics
Growing Demand from Automobile Sector to Drive the Market:
Butadiene is mainly used in the manufacturing of synthetic rubber, which is extensively used in the automobile sector. The increasing demand for automobiles is expected to drive the growth of the global butadiene market.
Technological Advancements to Promote Market Growth:
The increasing efforts towards innovation and development of new technologies are expected to result in the development of new methods for producing butadiene. The use of advanced techniques is expected to contribute to the growth of the market.
Top Trends in Global Butadiene Market
- One trend that Vantage Market Research (VMR) expects to see in the Butadiene industry is the growing use in adhesives and sealants. Apart from its use in the automobile industry, butadiene is also used in the production of adhesives and sealants. The increasing demand for these products is expected to drive the growth of the market.
- Another trend that VMR predicts will continue in the Butadiene industry is Growing Demand for styrene butadiene rubber (SBR). SBR is the largest application segment in the butadiene market. The growing demand for SBR in the tire industry is expected to be a major driver of the market.
Top Report Findings
- Based on products, most of the butadiene market's revenue is controlled by the styrene butadiene latex category. Factors include the rising demand from various industries such as coatings, adhesives, and paper and paperboard manufacturing, driving its significant market share.
- Based on applications, the styrene-butadiene category dominated the Butadiene market. This trend is anticipated to continue because of increasing demand for styrene-based products such as polystyrene, acrylonitrile butadiene styrene (ABS), and styrene-butadiene rubber (SBR) from various end-use industries such as automotive, construction, and packaging.
- Based on end users, the automobile industries category dominated the Butadiene market, and it is anticipated that this trend will continue because of the rising demand for butadiene-based synthetic rubber in tire manufacturing.
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Styrene-Butadiene (SB) latex Category in Butadiene Market to Generate Over 30% Revenue
Butadiene is an expensive investment. Vantage Market Research has analyzed the market for Butadiene to understand its current state and potential future growth factors. For better understanding, based on products the Butadiene market is divided into: butadiene rubber, styrene butadiene rubber, acrylonitrile butadiene rubber, nitrile butadiene rubber, styrene butadiene latex, hexamethylenediamine
During the forecast period, the market for styrene butadiene (SB) latex is anticipated to experience the highest CAGR because of its increasing demand for eco-friendly and sustainable products across the globe. SB latex is a type of copolymer made from styrene and butadiene monomers. It is used for a wide range of applications, including paper and non-woven industries, adhesives, carpet backing, and gloves, among others.
On the other hand, the butadiene rubber category is anticipated to grow significantly over the forecast period because of its use in the tire manufacturing industry, where it is used as a reinforcing agent in the production of tire treads. SBR is also used in other rubber products, such as conveyor belts, hoses, and shoe soles.
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 Products
- Butadiene Rubber
- Styrene Butadiene Rubber
- Acrylonitrile Butadiene Rubber
- Nitrile Butadiene Rubber
- Styrene Butadiene Latex
- Hexamethylenediamine
By End Users
- Automobile Industries
- Building & Construction
- Consumer Products Industries
- Healthcare
- Other End Users
By Applications
- Polybutadiene
- Chloroprene
- Styrene-Butadiene
- Nitrile Rubber
- SB Latex
- Acrylonitrile Butadiene Styrene
- Adiponitrile
- Sulfolane
- Ethylidene Norbornene
- Other Applications
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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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 | Royal Dutch Shell, ExxonMobil Chemical, LyondellBasell Industries, BASF SE, Sinopec Corporation, INEOS Group AG, Dow Chemical Company, Braskem S.A., Eni S.p.A. |
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