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Global Butadiene Market 2023 Latest Trends, Industry Share, Future Outlook And Forecast To 2032 | Exxon Mobil Corporation, China Petroleum & Chemical Corporation, Shell plc., Eni S.p.A., Reliance Industries Limited
Butadiene Market
The Business Research Company's Butadiene Global Market Report 2023 identifies expansion of the automotive industry as the major driver for the Butadiene Market's growth in the forecast period. The automotive industry is the sector involved in designing, developing, manufacturing, selling, and maintaining automotive vehicles. Butadiene-based materials provide excellent durability, flexibility, and resistance to heat, chemicals, and mechanical stress, making them ideal for automotive applications such as seals, gaskets, hoses, belts, and under-the-hood components.
The global butadiene market size is expected to grow from $10.28 billion in 2022 to $12.41 billion in 2023 at a compound annual growth rate (CAGR) of 120.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of butadiene market is expected to reach $24.94 billion in 2027 at a CAGR of 19.1%.
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Major competitors in the butadiene market are Exxon Mobil Corporation, China Petroleum & Chemical Corporation, Shell plc., Eni S.p.A., Reliance Industries Limited, BASF SE, Repsol S.A., The Dow Chemical Company, Saudi Arabia's Basic Industries Corporation, Lyondellbasell Industries Holdings B.V., LG Chem Ltd., Ineos Group AG, INEOS Group Ltd., China National Petroleum Corporation, Evonik Industries AG, Borealis AG, Lanxess AG, Formosa Plastics Corporation, Zeon Corporation, Nova Chemicals Corporation, JSR Corporation, Lotte Chemical Titan Holding Berhad, Nizhnekamskneftekhim, TPC Group, Mallard Creek Polymers Inc., and AirBoss Rubber Solutions.
A key trend in the Butadiene Market includes product innovations. Major companies operating in the butadiene market are focused on innovating new products to meet demand and sustain their position in the market. For instance, in June 2022, Evonik Industries AG, a Germany-based specialty chemicals company, launched POLYVEST eCO, an innovative range of sustainable liquid polybutadienes that reduces the use of fossil raw materials by up to 99.9%. It meets the needs of an increasingly sustainable market and has identical physiochemical properties to fossil-based products. POLYVEST eCO is a raw material used in the automotive, electronics, and construction industries for adhesives and sealants. It can also be used as a rubber additive in tire manufacturing.
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The Butadiene Market is segmented -
By Product: Polybutadiene (PBR), Styrene-Butadiene (SBR), Chloroprene, Nitrile Rubber, Acronitrile Butadiene Styrene (ABS), Adiponitrile, Sulfonale, Ethylidene Norbornene, Styrene Butadiene Latex, Other Products
By Production Process: C4 Hydrocarbon Extraction, N-Butane Dehydrogenation, From Ethanol, From Butenes
By Sales Channel: Direct Sale, Indirect Sale
By End-User Industry: Plastic And Polymer, Tire And Rubber, Chemical, Other End-User Industries
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Butadiene Market.
The Business Research Company's "Global Butadiene Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Butadiene Market Include:
1. Executive Summary
2. Butadiene Market Characteristics
3. Butadiene Market Trends And Strategies
4. Butadiene Market - Macro Economic Scenario
5. Butadiene Market Segmentation
……
32. Global Butadiene Market Competitive Benchmarking
33. Global Butadiene Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Butadiene Market
35. Butadiene Market Future Outlook and Potential Analysis
36. Appendix
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