Butadiene Derivatives Market 2023: Royal Dutch Shell Plc (The Netherlands), PJSC "Nizhnekamskneftekhim" (Russia), LyondellBasell Industries Holdings B.V. (The Netherlands), TPC Group (US)

Market Overview:

Butadiene is a highly reactive colorless gas, obtained as a byproduct of the production of ethylene or propylene by selective distillation of gas oil stream. It can be liquefied below -4.0°C and can be easily polymerized in the presence of oxygen. It is easily soluble in alcohol and ether but insoluble in water. Butadiene derivatives are copolymers produced from reacting butadiene and styrene and/or acrylonitrile, which include Styrene Butadiene Rubber (SBR), Polybutadiene Rubber (PBR), Acrylonitrile Butadiene Styrene (ABS), and others.

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Growing demand for butadiene derivatives, such as SBR mainly in tires and rubber products, drives the global market growth. The soft nature and fluctuating prices of natural rubber, improved properties of synthetic rubber, and geographical constraints of rubber plantation further drive the global market growth. Due to the increasing demand for raw materials in countries, such as China, manufacturing plants are commissioned to supply sustainable raw material which favors the market growth. International trading and technological advancements to enhance the properties of butadiene derivatives further provide opportunities to the market players.

Stringent regulations are issued over the usage of synthetic butadiene derivatives as they are carcinogenic in nature and produce toxic fumes, which hamper the market growth. Hence, there is a rising impetus to produce bio-based butadiene derivatives for eco-friendly tires and other injection-molded products. Surging demand for bio-based derivatives poses a challenge to the existing market players.

Regional Analysis:

The global butadiene derivatives market has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.

The Asia-Pacific market is projected to account for the largest share, during the forecast period, due to large consumer base and sustainable raw material supply. It is also expected to show the fastest growth. China is the leading country in this region and is expected to have the fastest CAGR owing to the presence of major manufacturing companies, such as China National Petroleum Corporation and China Petrochemical Corporation. India, Japan, and South Korea are other countries contributing to the regional market growth.

The North American market is the second-largest and is expected to register remarkable growth, owing to the rising applications of butadiene derivatives for tires in the automotive industry. The US is the leading consumer in the region owing to the surging demand for injection-molded products and adhesives. The European market is expected to account for a significant share, during the forecast period, owing to the rising applications of styrene butadiene rubber in the automotive industry. Germany, The Netherlands, and Russia are the major contributors to the regional market growth. The Latin American market holds a moderate share due to the rising applications of butadiene derivatives in adhesives and footwear industries.

Brazil and Argentina are the major economies in this region due to the increasing demand for butadiene derivatives in automotive, footwear, and paints and coatings industries. The Middle East & Africa market is projected to register a slow CAGR during the review period due to the limited demand for butadiene derivatives in the region. South Africa and Saudi Arabia are the prominent countries attributing to the regional market growth.

Segmentation Analysis:

The global butadiene derivatives market has been segmented based on product derivatives, application, and region.

On the basis of product derivatives, the global butadiene derivatives market has been categorized into Styrene Butadiene Rubber (SBR), Polybutadiene Rubber (PBR), Acrylonitrile Butadiene Styrene (ABS), styrene butadiene latex, adiponitrile, Nitrile Rubber (NR), and others.

Based on application, the global butadiene derivatives market has been classified into tires and rubber, injection-molded products, adhesives, paints and coatings, footwear, and others.

By region, the global butadiene derivatives market has been studied for five key regions-Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.

Key Players:

Some of the key players operating in the global butadiene derivatives market are Royal Dutch Shell Plc (The Netherlands), PJSC "Nizhnekamskneftekhim" (Russia), LyondellBasell Industries Holdings B.V. (The Netherlands), TPC Group (US), China Petrochemical Corporation (China), Exxon Mobil Corporation (US), BASF SE (Germany), DowDuPont (US), Braskem (Brazil), China National Petroleum Corporation (China), Eni S.p.A (Italy), and CNOOC Limited (China).

Target Audience:

Butadiene manufacturers
Butadiene derivatives manufacturers
Traders of butadiene derivatives
Distributors and suppliers of butadiene derivatives
Potential investors
Research institutes
Government bodies

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