Press release
What will boost the Synthetic & Bio-based Butadiene Market growth? Key Players are BASF, The Dow Chemical Company, Evonik, INEOS, LyondellBasell, Royal Dutch Shell, SABIC
Butadiene Market
Robust growth in the global construction industry will drive the overall synthetic & bio-based butadiene market during the forecast years. Product is chiefly employed as a sealant and binding agent in the construction industry.
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Key Players:
• BASF SE
• Eni S.p.A
• Evonik Industries AG
• Exxon Mobil
• INEOS Group
• LyondellBasell Industries N.V.
• PCS
• Repsol
• Royal Dutch Shell Plc
• SABIC
• The Dow Chemical Company
• TPC Group
• Yeochun NCC
• Nizhnekamskneftekhim
Adverse effects of synthetic butadiene products on human health and environment is a cause of concern for synthetic & bio-based butadiene market participants. Butadiene is also considered to be a carcinogenic compound and can be toxic to animal life. These factors may hamper the industry growth in the forecast years. However, substitution of synthetic butadiene with their bio-based counterparts is anticipated to mitigate these negative effects.
Global synthetic & bio-based butadiene market has two product segmentations including synthetic and bio-based butadiene. Synthetic segment has the major share of total industry and will experience moderate growth rates as product is widely used in automotive parts and tire manufacturing.
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Bio-based segment is anticipated to grow by CAGR of 13% in the forecast timeframe. The segments growth will likely be augmented by environment friendly properties of the product compared to its synthetic counterpart.
Synthetic & bio-based butadiene market is segmented into five major categories namely SB rubber, butadiene rubber, SB latex, ABS, and adiponitrile. SB latex application segment will be the major contributor to the synthetic & bio-based butadiene market growth owing to its usage in building & construction activities and tire manufacturing. It is used as a sealant and a water proofing material and the segments anticipated growth will be around 3% CAGR in the forecast timeframe.
Synthetic & Bio-Based Butadiene Market By Application:
• SB rubber
• Butadiene rubber
• SB latex
• ABS
• Adiponitrile
• Others
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Synthetic accounted for the largest share of the business in 2016. The product is majorly used in tire manufacturing and other automotive parts, particularly due to its characteristics such as superior grip and reduced rolling resistance. However, the segment will exhibit moderate CAGR during the projected timespan mainly due to volatility in raw material prices along with its potential threat for health as well as the environment.
Bio-based will exhibit gains close to 13% CAGR from 2017 to 2024. The growth will be mainly attributed to favoring government norms towards bio-based material use on account of its ecofriendly characteristics.
SB latex will experience growth close to 3% CAGR by 2024. It is widely used across building & construction industry for sealing & binding applications mainly due to its high flexibility, reduced shrinkage and extended durability. Furthermore, high bond strength of SB latex makes it preferred in waterproofing applications. In 2016, butadiene rubber generated revenue close to USD 5 billion. This segment led the application base in the same year due to its prevalent application in the tire manufacturing business.
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