Key Insights of Butadiene Market Covering Prime Factors and Competitive Outlook Till 2023 - BASF SE, Braskem SA, Evonik Industries AG, Exxonmobil Chemical, Formosa Plastics Group, Ineos Group AG, Lanxess AG

Marketprognosis.com Publish a New Market Research Report On “Global Butadiene Market 2018 - 2023” which contains global key player’s survey information and forecast to 2023.

Overview of the Global Butadiene Market:

The Global Butadiene Market is expected to witness a CAGR of 3.0% during the forecasted period (2018 - 2023), majorly driven by the increasing demand and production of light-weight and electric vehicles. Besides this, growing application of plastics and innovation of new products is expected to increase the demand for butadiene market.

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Butadiene is extensively used in the automotive industry in manufacturing tires, hoses, gasket seals, fuel lines, and other parts of the vehicles. The increasing popularity of light-weight and fuel efficient cars has been increasing the production of vehicles. The global production of light commercial vehicles reached 19.39 million units in 2017. Besides this, electric vehicles are also gaining popularity. The automakers have been investing substantially in innovation and development of electric vehicles. Mercedes-Benz has planned to build electric vehicles in volume at six factories across three continents and a global battery network. Volkswagen has planned to make its Zwickau factory in Saxony, Germany, a major hub for the production of its next-generation electric cars, and is investing heavily with a plan to manufacture 1,500 electric cars per day. With the rising demand for lightweight cars and electric vehicles, the demand for butadiene in automotive parts production is expected to rise. This is projected to drive the demand for butadiene during the forecast period.

By end-user industry, tire and rubber industry is expected to dominate the market demand for butadiene. The butadiene rubber is used majorly in tires with over 70% of the polymer produced going into sidewalls and treads. Besides this, nitrile butadiene rubber is used in the production of various cables, molded and extruded products, belts, gloves, adhesives & sealants, foamed products, etc.

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Asia-Pacific is projected to dominate the butadiene market globally during the forecast period, owing to the projected increase in the automotive production and the growth of the plastics industry in the region. Being the world’s largest producer of vehicles and manufacturing economy, China is expected to dominate the butadiene market in Asia-Pacific. Currently, China’s automotive industry is majorly focusing on increasing the production and sale of electric vehicles in the country. For this purpose, the country has planned to increase the production of electric vehicles (EVs) to two million a year by 2020, and seven million a year by 2025. The target, if achieved, will increase the share of electric vehicles to 20% of the total new car production for China by 2025. With such a rise in electric vehicle production and sale, the application of butadiene products is expected to increase during the forecast period, further boosting the demand for butadiene market.

Major Key Players:

1 BASF SE

2 Braskem S.A.

3 China Petroleum & Chemical Corporation

4 Evonik Industries AG

5 Exxonmobil Chemical Company

6 Formosa Plastics Group

7 Ineos Group AG

8 JSR Corporation

9 Lanxess AG

10 LG Chem Limited and More………….

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What Information does this report contain?

1 A detailed analysis of regulatory trends, drivers, industry pitfalls, challenges and growth opportunities for participants

2 Which are the leading market products, applications & regions and how will they perform by 2023?

3 What are the technologies & innovation trends, how will they evolve by 2023?

4 Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?

In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of Butadiene Market.

Table of Contents:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Key Inferences

5 Market Overview

6 Drivers, Restraints, Opportunities and Challenges Analysis (Droc)

7 Market Segmentation

8 Competitive Landscape

9 Key Players

10 Future Outlook of the Market

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This release was published on openPR.