Home Press Releases Global Butadiene Market Set for Robust Growth on Back of Booming Automobile Industry

Global Butadiene Market Set for Robust Growth on Back of Booming Automobile Industry

by Press Room


 


(EMAILWIRE.COM, April 13, 2023 ) The report, “Butadiene Market & Its Derivatives (SBR, PBR, ABS, SB Latex, Adiponitrile, NR & Others) Market by Applications & Geography – Trends and Forecasts to 2018” defines and segments the global butadiene market & its derivatives market with analysis and forecasting of the global consumption volume and value.

Butadiene is a highly reactive, colorless gas that is used in the production of synthetic rubber, plastic resins, and other chemicals. The butadiene industry encompasses the production, distribution, and use of butadiene and its derivatives.

The global butadiene market size was valued at USD 19.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028. The growth in demand for synthetic rubber, which is the largest application segment of butadiene, is a major factor driving the growth of the butadiene industry.

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The scope of the butadiene industry includes the production of butadiene by cracking of naphtha or other hydrocarbons, transportation and storage of butadiene, and the manufacture of downstream products such as synthetic rubber, styrene-butadiene rubber (SBR), acrylonitrile-butadiene-styrene (ABS), and adiponitrile.

The industry also includes the development of new technologies for butadiene production, as well as the research and development of new applications for butadiene derivatives. The growing demand for eco-friendly and bio-based materials is also driving the development of bio-based butadiene production technologies. Overall, the butadiene industry plays a vital role in the global economy by providing essential raw materials for a wide range of industries.

Browse in-depth TOC on “Butadiene Market”

114 – Market Data Tables

37 – Figures

265 – Pages

Asia-Pacific – Biggest Market of Butadiene

Asia-Pacific is the world’s largest market of butadiene, which consumed more than half of the total global demand, and also for most of its derivatives that includes styrene butadiene rubber (SBR), polybutadiene rubber (PBR), acrylonitrile butadiene styrene (ABS), and nitrile rubber (NR). Various countries in Asia-Pacific are ahead of them all to implement butadiene and its downstream derivatives in a diverse range of applications. Demand growth of butadiene in the region is projected to be well above the average growth rate of the market. China and South Korea are the biggest consumers of butadiene in the region while India and China are expected to be the fastest growing markets of butadiene. A few of the reasons for the high level growth in this region are growing population, vast economies–developed as well as developing, and favorable investment policies and government initiatives to promote industrial growth. The budding nature of the economies and rising consumption trends for various materials such as synthetic rubbers and ABS resin drives the demand of butadiene at a significant pace in the region.

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“Styrene Butadiene Rubber – The Biggest and Polybutadiene Rubber – The Fastest Growing” Butadiene Markets

Butadiene is a major feedstock to manufacture SBR, with just less than one third of its total global demand being consumed to manufacture SBR. Butadiene demand by SBR manufacturers is quite high in the U.S., followed by China, South Korea, and Japan. Subsequently, PBR manufacturers were the second largest consumers of butadiene with a butadiene consumption share difference of 2.4%, compared to SBR manufacturers. The PBR manufacturing segment is also the fastest growing end-use segment with an expected CAGR of about 4.9% from 2013 to 2018. Butadiene is majorly consumed by PBR manufacturers in countries that include China, U.S., South Korea, Japan, Russia, etc. Growth of the SBR & PBR market is largely associated with the growth in the automotive industry globally. The automotive industry is expected to push the tire industry to new heights, which in turn will help the styrene butadiene rubber and polybutadiene rubber market achieve greater volumes and revenues in the near future; hence this drives the demand for butadiene at a significant pace.

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Butadiene Market Key Players

LyondellBasell Industries N.V. (U.S.) was the second largest player with 4.9% of the market share. Currently, the company has its production facilities in the U.S., Germany, and France. Other key market participants include LG Chem Ltd. (South Korea), The Dow Chemical Company (U.S.), SABIC (Saudi Arabia), Repsol S.A. (Spain), ENI S.P.A (Italy), Braskem S.A. (Brazil), etc.

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