Butadiene Market Global Sales are Expected to Reach US$ 71.50 Billion by 2032
SANTA ROSA, CALIFORNIA, USA, April 18, 2023/EINPresswire.com/ — The Global Butadiene Market Share, Trends, Analysis and Forecasts, 2019-2032 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The global butadiene market size was estimated to be US$ 13.89 Billion in 2022 and is expected to reach US$ 71.50 Billion by 2032 at a CAGR of 17.8%. Butadiene is a colorless, flammable gas with a pungent odor, and it is an important industrial chemical. It is used as a monomer, or building block, in the production of synthetic rubber, plastics, and fibers.
Butadiene is important because of its widespread use in various end-use industries such as automotive, construction, and tire manufacturing. Synthetic rubber made from butadiene is used in various applications like tire production, hoses, conveyor belts, and flooring. Plastics made from butadiene, such as ABS and PVC, are used in various consumer goods, construction materials, and electrical and electronic products. Butadiene-based fibers, such as nylon and spandex, are widely used in clothing, upholstery, and industrial applications.
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Growth driving factors of Global Butadiene Market
Growing demand for synthetic rubber, plastic, and synthetic fibers, technological advancements improving production to quality, and growing demand from emerging economies are some of the major factors driving the global butadiene market.
Growing demand for synthetic rubber: Butadiene is a key raw material in the production of synthetic rubber, such as SBR (styrene-butadiene rubber), BR (butadiene rubber), and NBR (nitrile rubber), used in various end-use industries like tire manufacturing, automotive, and construction. The increasing demand for synthetic rubber in these industries is expected to drive the demand for butadiene. For example, the rising demand for vehicles and the need for higher fuel-efficient tires are expected to drive the growth of the tire manufacturing industry, which will in turn drive the demand for butadiene.
Increase in plastic consumption: Butadiene is used as a building block in the production of various plastics, including ABS (acrylonitrile-butadiene-styrene) and PVC (polyvinyl chloride). The increasing demand for plastics in various end-use industries like consumer goods, construction, and electrical and electronic products is expected to drive the demand for butadiene. For example, the growing demand for consumer electronics and the increasing use of plastics in construction are expected to drive the demand for butadiene.
Growing demand for synthetic fibers: The demand for butadiene-based synthetic fibers, such as nylon and spandex, is increasing due to their widespread use in clothing, upholstery, and industrial applications. For example, the growing demand for athletic wear is driving the demand for spandex used in their production.
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Technological advancements: Technological advancements have been a major driver of the global butadiene market, affecting various aspects of the industry from production to product quality. The development of new and more efficient production processes, such as dehydrogenation, has increased production efficiency and reduced costs. This has made the production of butadiene more economically feasible and has contributed to the growth of the market. Additionally, the increase in production capacity has helped meet the growing demand for butadiene and its derivatives, creating opportunities for new players to enter the market.
New butadiene-based derivatives have also been developed as a result of technological advancements. These new derivatives, such as bio-butadiene, have wider applications in various end-use industries, driving the growth of the market and creating new opportunities for market players. In addition, technological advancements have improved the quality of butadiene and its derivatives, making them more suitable for various applications and increasing their demand.
Growing demand from emerging economies: The increasing demand for synthetic rubber and plastics in emerging economies, like India and China, is expected to drive the demand for butadiene. For example, the growing construction industry in India and China is expected to drive the demand for butadiene, as it is used in various construction materials.
The leading market segments of Global Butadiene Market
The butadiene rubber segment is the largest in the butadiene market based on product type due to its widespread use in various end-use industries, including the tire industry, automotive industry, and construction industry. Butadiene rubber is used in the production of various types of tires, such as passenger car tires, commercial vehicle tires, and off-the-road tires. In the automotive industry, butadiene rubber is used in the manufacture of various components, such as hoses, belts, and seals.
One key trend in the butadiene rubber segment is the growing demand for green tires, which are made from eco-friendly materials and have lower carbon emissions. This trend is driven by increasing environmental concerns and the need to reduce carbon emissions in the tire industry. As a result, there is a growing demand for butadiene rubber with low carbon footprint, which is produced using environmentally friendly production processes.
Another key trend in the butadiene rubber segment is the increasing demand for high-performance tires, which have improved fuel efficiency and longer life compared to traditional tires. This trend is driven by the growing demand for fuel-efficient vehicles and the need to reduce fuel consumption in the automotive industry. High-performance tires require butadiene rubber with high elasticity and strength, which is used to produce high-performance tires that provide better handling and grip on the road.
On the basis of end-user industry the automobile industry is the largest end-user industry in the butadiene market. This is due to the widespread use of butadiene derivatives, such as synthetic rubber, in the production of various components in the automobile industry, including tires, hoses, belts, and seals. Butadiene is used in the production of various types of tires, such as passenger car tires, commercial vehicle tires, and off-the-road tires. The increasing demand for vehicles, both passenger cars and commercial vehicles, is driving the growth of the automobile industry and, in turn, the demand for butadiene.
One key trend in the automobile industry is the growing demand for electric vehicles (EVs), which are powered by electric motors instead of traditional internal combustion engines. This trend is driven by the increasing concern for the environment and the need to reduce carbon emissions. The growing demand for EVs is expected to drive the demand for butadiene and its derivatives, as they are used in the production of various components in EVs, including tires, hoses, and belts.
Geographically, the Asia-Pacific region is the largest market for butadiene, accounting for the largest share of the global butadiene market. This is due to the presence of major butadiene-producing countries, such as China, Japan, South Korea, and India, in the Asia-Pacific region. These countries are among the largest producers and consumers of butadiene and its derivatives, such as synthetic rubber and plastic, in the world.
One key trend in the Asia-Pacific region is the growing demand for butadiene and its derivatives in various end-use industries, including the automobile, chemical, plastics and polymers, building and construction, and consumer products industries. The growing demand for these products in the Asia-Pacific region is driven by the increasing population, rising incomes, and urbanization, which are leading to increased demand for vehicles, consumer goods, and building and construction materials.
The key players of the Global Butadiene Market are:
Borealis AG., China Petroleum & Chemical Corporation, Eni S.p.A., Evonik Industries AG, Ineos Group AG, LANXESS, LG Chem, LyondellBasell Industries Holdings B.V., Nizhnekamskneftekhim., Royal Dutch Shell Plc, Repsol, Shanghai Petrochemical, SABIC, The Dow Chemical Company, TPC Group, Formosa Plastics Corporation, Versalis S.p.A., ZEON Corporation., and Others.
Global Butadiene Market Key Segments:
By Product Type
• Butadiene Rubber
• Styrene Butadiene Rubber
• Acrylonitrile Butadiene Rubber
• Nitrile Butadiene Rubber
• Styrene Butadiene Latex
By Production Process
• Steam Cracking
• Automobile Industries
• Plastics and Polymers
• Building & Construction
• Consumer Products Industries
• North America
* United States
* Rest of North America
* United Kingdom
* Rest of Europe
• Asia Pacific
* South Korea
* Rest of Asia Pacific
• Middle East & Africa
* Saudi Arabia
* South Africa
* Rest of the Middle East & Africa
• South America
* Rest of South America
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