Press release
Butadiene Industry to Witness an Outstanding Growth by 2024 - 2031 | BASF SE, Braskem, China Petroleum & Chemical Corporation
Butadiene Industry
Global butadiene market is estimated to be valued at USD 35.38 Bn in 2024 and is expected to reach USD 53.55 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.
Market Dynamics:
Increasing demand for tires from the automotive industry is expected to be a major driver for the butadiene market during the forecast period. Tires account for over 60% of butadiene consumption globally. With rising vehicle ownership, especially in developing countries, tire demand is steadily growing. This is projected to positively impact the butadiene market. Furthermore, rapidly expanding plastic and rubber industries where butadiene is used as a prime raw material are also likely to fuel market expansion. However, environmental concerns around butadiene emissions may act as a restraint. Supply chain disruptions due to geopolitical issues can also affect butadiene availability.
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Rising Requirement from Polymer Industries
Apart from tires, butadiene also has important applications in the production of various polymers. It is used to make plastic polymers and synthetic rubbers like acrylonitrile butadiene styrene (ABS) resins, styrene butadiene latex, nitrile rubber etc. The demand for these butadiene-based polymers is rising notably owing to their use in a wide range of end-use industries such as appliances, automotive, construction and more. ABS resins see significant consumption in the automotive sector for interior and exterior automotive parts. Meanwhile, the construction industry employs styrene butadiene latex and nitrile rubber gloves on a large scale. Increasing construction activities and growing needs of infrastructure development are raising the demand for these polymers. This upsurge in polymers production driven by different end markets has boosted the butadiene consumption globally over the past few years.
Major Market Opportunity: Expanding Applications in ABS Resins
Acrylonitrile butadiene styrene or ABS resin is emerging as one of the major application areas for butadiene. ABS is renowned for its versatility, durability and aesthetic appeal. It is increasingly replacing metallic components across varied industries due to its lightweight and corrosion resistance properties. Growing consumption of ABS resins in automotive, electrical and electronics, construction industries presents a promising opportunity for butadiene market players. In the automotive sector, ABS is preferred for exterior automotive parts owing to its resistance to heat, chemicals and weathering. Electronics manufacturers use ABS for housings and interiors of consumer products like computers, printers, TVs etc. Its corrosion resistant properties make it ideal for use in wash basins, showers, sinks in bathrooms. Expanding APPLICATIONS OF ABS resins in industries will keep fuelling the demand for butadiene going ahead.
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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
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 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)
Key Insights from the Global Butadiene Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the Butadiene market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the Butadiene market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the Butadiene market.
Segment Analysis: Examining the market value and sales volume of Butadiene by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the Butadiene market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Butadiene sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )
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