Press release
1,3-Butadiene Market Poised to Reach USD 73.6 Billion by 2034 with 6.0% CAGR: Exclusive Report by Transparency Market Research Inc.
1,3-Butadiene Market
1,3-Butadiene is an unsaturated hydrocarbon and a significant building block in the chemical industry. Its primary use is in manufacturing synthetic rubber, including polybutadiene and styrene-butadiene rubber (SBR), which are crucial for automotive tires and industrial applications. It is also a precursor for the production of ABS plastics, adhesives, and other specialty chemicals. It is estimated to grow at a CAGR of 6.0% from 2024 to 2034 and reach US$ 73.6 Bn by the end of 2034.
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Top Companies:
BASF SE
LyondellBasell Industries Holdings B.V.
ExxonMobil Corporation
Lanxess
China Petrochemical Corporation
Shell plc
JSR Corporation
LG Chem Ltd.
Idemitsu Kosan Co., Ltd.
Evonik Industries AG
Key Market Drivers
Automotive Industry Growth: Increased demand for synthetic rubber in tire manufacturing drives the consumption of 1,3-Butadiene.
Rising Plastic Production: Use in ABS plastics for durable and lightweight automotive, electronics, and consumer goods applications boosts market demand.
Industrial Expansion: Growing construction and infrastructure activities fuel the demand for materials derived from 1,3-Butadiene.
Technological Advancements: Innovations in extraction and production processes improve efficiency and reduce environmental impact.
Recent Developments
Sustainability Initiatives: Development of bio-based 1,3-Butadiene to reduce dependency on fossil fuels and lower carbon emissions.
Capacity Expansions: Investment in new production facilities, particularly in Asia-Pacific, to meet rising global demand.
Innovative Applications: Advancements in polymer chemistry have expanded the use of 1,3-Butadiene in high-performance materials.
Regulatory Compliance: Enhanced safety and environmental measures in production processes due to stringent regulations.
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Key Segmentation:
By Technique
Extractive Distillation
Oxidative Dehydrogenation
By Product
Butadiene Rubber
Styrene Butadiene Rubber
Acrylonitrile Butadiene Rubber
Nitrile Butadiene Rubber
SB Latex
Hexamethylenediamine
Others
By End-use
Automotive
Building and Construction
Consumer Products
Healthcare
Others
By Region
North America
Europe
Asia Pacific
Middle East & Africa
South America
Conclusion
The 1,3-Butadiene market is set to grow steadily, supported by its critical role in synthetic rubber and plastics production. The rising demand from automotive, construction, and industrial applications offers significant opportunities for expansion. However, addressing challenges such as environmental concerns and raw material price volatility will be vital for sustainable market growth. Investments in bio-based solutions and advanced production technologies will further strengthen the market's prospects.
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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