Press release
Butadiene Market : Global Forecast over 2024 - 2031 | BASF SE, Braskem, China Petroleum & Chemical Corporation
Butadiene Market
Butadiene is primarily used in the production of synthetic rubbers such as styrene-butadiene rubber (SBR) and polybutadiene rubber (BR). These synthetic rubbers derived from butadiene find wide applications in the automotive and tire industry.
Market Dynamics:
The global butadiene market is expected to witness significant growth over the forecast period owing to increasing demand from the rubber industry. Rubber is widely used in the automotive industry for manufacturing tires, hoses, belts, gaskets, and others automotive components. According to Coherent Market Insights analysis, the growing automotive industry especially in developing countries of Asia Pacific is expected to boost the demand for synthetic rubbers which in turn is likely to propel the butadiene market growth during the forecast period. Furthermore, increasing infrastructural activities are also augmenting the growth of the construction industry which is another major end-user of synthetic rubbers. This is further expected to drive the butadiene market growth during the forecast period.
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Two Major Drivers Influencing the Butadiene Market
The growing rubber industry is driving butadiene demand globally. Butadiene is a key raw material for producing synthetic rubber. It is primarily used for manufacturing tires which see huge demand from the automotive industry. With rising vehicle production and ownership worldwide, the need for tires has increased substantially. This is directly boosting consumption of butadiene in rubber manufacturing.
Developments in butadiene derivatives augment market growth. Beyond synthetic rubber production, butadiene also finds numerous applications as an intermediate chemical. It is used to make resins, plastics, latex, and nylon keytone. The market has witnessed innovative product formulations utilizing butadiene. For example, butadiene-styrene rubber is finding increasing usage in applications like footwear soles and adhesive tapes due to its good abrasion resistance and flexibility. Expansion of end-use industries employing butadiene derivatives is fueling market revenues.
Major Opportunity for Butadiene Market- Developing Countries
Emerging economies in Asia Pacific and Latin America present a lucrative arena for expansion owing to their rapidly developing end-use industries. As driving becomes more accessible in developing nations via fiscal incentives and infrastructure growth, tire demand is escalating at a swift pace. Additionally, domestic manufacturing capacities for automotive components, consumer goods, and construction materials are being augmented across developing regions. This rising indigenous production allows greater absorption of butadiene-based materials. Market players can gain a competitive edge by enhancing distribution networks and establishing manufacturing sites in high-growth developing markets.
Transition Towards More Sustainable Production Trends the Butadiene Industry
With sustainability becoming a strategic priority, players in the butadiene sector are investing in greener production technologies. There is a growing trend of adopting renewable feedstocks and recyclable materials to manufacture butadiene and its derivatives. For example, some companies are developing processes to yield butadiene from biomass instead of crude oil. Others focus on incorporating recycled rubber content in synthetic tires. Such eco-friendly innovations help boost brand reputation while reducing dependency on fossil fuels over the long run. The market is poised to transition towards more sustainable practices going forward with favorable policy push and customer preference for green chemicals.
Top Companies Featured in This Report:
β BASF SE
β Braskem
β China Petroleum & Chemical Corporation
β Dow
β Evonik Industries AG
β Exxon Mobil Corporation
β Formosa Plastics Corporation
β INEOS
β JSR Corporation
β LG Chem
β LOTTE CHEMICAL TITAN HOLDING BERHAD
β LyondellBasell Industries Holdings BV
β Reliance Industries Limited.
β Repsol
β Royal Dutch Shell Plc
β SABIC
β TPC Group
β China National Petroleum Corporation
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Market Segmentation:
By Product Type:
β By End-use Industry: Plastic and Polymer, Tire and Rubber, Chemical, Others
By Applications:
β By Application: Polybutadiene, Chloroprene, Styrene-Butadiene, Nitrile Rubber, SB Latex, Acrylonitrile Butadiene Styrene, Others
Key Regions/Countries are Classified as Follows:
Β» North America (U.S., Canada, Mexico)
Β» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Β» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Β» South America (Brazil, Argentina, Rest of SA)
Β» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Why Choose Our Comprehensive Market Report:
β’ Evaluate numerous aspects of the Butadiene Market outlook through Porter's Five Forces analysis.
β’ Examine the growth rate and market shares of various product types and applications/end-users within the Butadiene Market.
β’ Gain insights into the Butadiene Market dynamics across different regions.
β’ Conduct a thorough Covid-19 Impact Analysis using a robust research methodology.
β’ Stay updated on the latest developments, market shares, and strategies of key players in the Butadiene Market.
β’ Delve into a detailed assessment of the market strategies, geographical presence, and business segments of the top players in the Butadiene Market.
β’ Anticipate key challenges, product advancements, and potential solutions that may influence the market's progress and risks.
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Key Inquiries Addressed in this Report include:
β’ What was the size of the Butadiene Market in 2024, and what is the projected value by 2030?
β’ What is the present global market landscape for the Butadiene Market?
β’ What strategies offer optimal opportunities for growth maximization in the business?
β’ What recent trends are shaping the Butadiene Market?
β’ How does the market share of Butadiene Market revenue, sales, and size vary across specific geographical regions?
β’ Who are the prominent industry players in the Butadiene Market?
β’ Which segment of the Butadiene Market is experiencing heightened demand?
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About Us
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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