Butadiene Market Demand 2024, Analysis Key Players, Size, Share and Report By 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Butadiene Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The butadiene market size has grown exponentially in recent years. It will grow from $12.41 billion in 2023 to $14.95 billion in 2024 at a compound annual growth rate (CAGR) of 20.4%. The growth in the historic period can be attributed to automotive industry demand, petrochemical industry expansion, economic cycles, consumer electronics boom, oil and gas prices..

The butadiene market size is expected to see rapid growth in the next few years. It will grow to $29.48 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to renewable feedstocks, electric vehicle expansion, circular economy initiatives, focus on lightweight materials, healthcare sector expansion.. Major trends in the forecast period include supply chain localization, market consolidation and partnerships, rise of smart materials, adoption of advanced manufacturing techniques, resilience planning, customization and tailored solutions..

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Key Market Players:

Major companies operating in the butadiene market report 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., AirBoss Rubber Solutions

Market Drivers:

The expansion of the automotive industry is expected to boost the butadiene market. 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. For instance, according to Statistics Canada, a Canada-based Government agency, the total number of registered road motor vehicles in Canada climbed to 26.2 million in 2021. Further, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, electric car sales set a new high in 2021, climbing by 4%. Sales nearly doubled to 6.6 million, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the automotive industry's expansion is driving the butadiene market's growth.

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The butadiene market covered in this report is segmented -

1) By Product: Polybutadiene (PBR), Styrene-Butadiene (SBR), Chloroprene, Nitrile Rubber, Acronitrile Butadiene Styrene (ABS), Adiponitrile, Sulfonale, Ethylidene Norbornene, Styrene Butadiene Latex, Other Products
2) By Production Process: C4 Hydrocarbon Extraction, N-Butane Dehydrogenation, From Ethanol, From Butenes
3) By Sales Channel: Direct Sale, Indirect Sale
4) By End-User Industry: Plastic And Polymer, Tire And Rubber, Chemical, Other End-User Industries

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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