Butadiene Market is set to increase at 9.60% CAGR by 2032 to reach a Valuation of US$ 24.64 billion | MRFR

Butadiene Industry Overview:

The study documents by MRFR state that the Butadiene Market Research Report Information by End User, Product Type, Production Process, and Region - Forecast Till 2032, the Butadiene market is likely to grow considerably throughout the valuation period from 2023 to 2032 at a notable CAGR of nearly 9.60%. The research reports provide predictions regarding the global market's rising revenue data, which is anticipated to acquire a market worth of USD 24.64 Billion by the end of 2032. The reports also tell that the market will be worth nearly USD 10.8 Billion in 2022. The Butadiene market has recently advanced. The main feature causing a rise in market performance is the escalating demand from end-use industries for improved functionality at lower cost. Furthermore, the rising number of automobiles across the globe is also likely to cause a surge in the performance of the global market over the coming years.

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Competitive Analysis

Formosa Plastics Corporation
China Petroleum & Chemical Corporation
Eni S.p.A.
Royal Dutch Shell Plc
Ineos Group AG
Borealis AG
LG Chem
Versalis S.p.A.
Nizhnekamskneftekhim
Evonik Industries AG
SABIC
LANXESS
TPC Group
LyondellBasell Industries Holdings B.V.
ZEON Corporation
Repsol
Shanghai Petrochemical
The Dow Chemical Company

Market Drivers

The Butadiene market has recently advanced. The main feature causing a rise in market performance is the escalating demand from end-use industries for improved functionality at lower cost. Furthermore, the rising number of automobiles across the globe is also likely to cause a surge in the performance of the global market over the coming years. Moreover, the growing carbon footprint across the world, along with the escalating demand for renewable energy sources, are also likely to enhance the development of the global market over the coming years. In addition, factors such as the increasing adoption of electric vehicles, the expanding chemical sector, and rapid technological innovations are anticipated to boost the growth of the global market.

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Market Restraints

However, several parameters may impede Butadiene's performance in the global market. One of the main parameters limiting the development of the market is the elevated prices associated with raw materials.

Segment Analysis

The global market for Butadiene has been segregated into various segments based on End User, Product Type, Production Process, and Region.

Based on the product type, the global market for Butadiene is divided into Hexamethylenediamine, Butadiene Rubber, Styrene Butadiene Latex, Styrene Butadiene Rubber, Nitrile Butadiene Rubber, and Acrylonitrile Butadiene Rubber.

Based on the production process, the global market for Butadiene is divided into butenes, ethanol, C4 hydrocarbon extraction, and n-butane dehydrogenation.

Based on the end-users, the global market for Butadiene is divided into Healthcare, Automobile Industries, Consumer Products Industries, Chemical, Building and construction, Plastics and Polymers, and Others.

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Regional Analysis

The data reports by MRFR state that the North American Region ensured the primary spot across the Butadiene market in 2022. The region has substantial development participants, such as the U.S., Canada, and Mexico. The primary parameter causing a surge in the performance of the regional Butadiene market is the fact that the automotive industry, a prime user of synthetic rubber, particularly for tire production, witnessed a significant rise in new sales of light-duty electric vehicles in 2021. In addition, the spending translates into higher vehicle sales, along with increased consumer confidence, which is also likely to catalyze the growth of the regional market over the coming years.

The European Region will grow substantially across the Butadiene market from 2023 to 2032. The region has substantial development participants, such as Germany, France, and the U.K. The primary parameter causing a surge in the performance of the regional Butadiene market is the substantial transition towards electric vehicles (E.V.s) and hybrid vehicles.

The Asia-Pacific region is estimated to grow at the highest pace across the Butadiene market over the assessment period. The region has substantial development participants, such as China, India, and Indonesia. The primary parameter causing a surge in the performance of the regional Butadiene market is the fact that China is one of the world's largest chemical manufacturing hubs with a wide variety of industries. Furthermore, the significant number of local industry players is also likely to enhance the performance of the regional market over the assessment period.

Related Pages:

Butadiene Market Size https://www.marketresearchfuture.com/reports/butadiene-market/market-size

Butadiene Market Trends https://www.marketresearchfuture.com/reports/butadiene-market/market-trends

Butadiene Market Analysis https://www.marketresearchfuture.com/reports/butadiene-market/market-analysis

Butadiene Market Share https://www.marketresearchfuture.com/reports/butadiene-market/market-share

US Butadiene Market https://www.marketresearchfuture.com/reports/us-butadiene-market-14070

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