Press release
Butadiene Market Projected to Hit USD 50.93 Billion by 2030 Amidst Automotive Demand
The global butadiene market is on a growth trajectory, propelled by the increasing demand from the automotive industry, particularly in tire manufacturing. According to recent market analyses, the market is projected to reach approximately USD 50.93 billion by 2030, reflecting a compound annual growth rate (CAGR) of 4.4% from 2024 to 2030.
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► Butadiene Market Overview
Butadiene serves as a fundamental raw material in the production of various synthetic rubbers and plastics, including styrene-butadiene rubber (SBR), polybutadiene, acrylonitrile butadiene styrene (ABS), and nitrile rubber. The automotive sector's demand for tires and other rubber components significantly influences the butadiene market's dynamics.
► Regional Demand and Competitive Landscape
The Asia-Pacific region, notably China, plays a pivotal role in the butadiene market, owing to its robust automotive industry and substantial production capacities. Major companies such as Reliance Industries, LG Chem, and SABIC are key players in this sector, contributing to market competitiveness through strategic expansions and technological advancements.
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► Country-Specific Developments
Vietnam: Growth Opportunities in Automotive Sector
Vietnam's burgeoning automotive industry presents significant opportunities for butadiene derivatives, especially in tire manufacturing. The government's supportive policies and infrastructure development are attracting investments, positioning Vietnam as a key player in the Southeast Asian market.
Thailand: Trends in Synthetic Rubber Production
Thailand's well-established synthetic rubber industry, primarily based on butadiene, continues to thrive. The country's strategic location and trade agreements enhance its role as a manufacturing hub, catering to both regional and global markets.
Japan: Consolidation in Chemical Manufacturing
Japan's chemical industry is witnessing consolidation, with companies like Mitsubishi Chemical and Sumitomo Chemical merging operations to streamline production and enhance competitiveness in the butadiene market.
South Korea: Updation of Petrochemical Facilities
South Korea is investing in upgrading its petrochemical facilities to produce higher-value butadiene derivatives. This strategic move aims to meet the evolving demands of the automotive and consumer goods sectors.
Singapore: Opportunities in Petrochemical Hub
Singapore's status as a global petrochemical hub offers opportunities for butadiene production and distribution. The country's advanced infrastructure and strategic location facilitate efficient supply chain operations.
United States: Growth in Synthetic Rubber Applications
The U.S. market is experiencing growth in synthetic rubber applications, particularly in automotive tires. Companies like ExxonMobil and LyondellBasell are expanding their butadiene capacities to meet domestic and international demand.
China: Trends in Automotive Industry Expansion
China's rapid expansion of its automotive industry drives the demand for butadiene. The country's focus on electric vehicles also influences the types of synthetic rubbers required, presenting both challenges and opportunities for producers.
Europe: Consolidation in Automotive Supply Chain
European automotive suppliers are consolidating to enhance efficiency and reduce costs. This trend impacts the demand for butadiene derivatives, as companies seek reliable and cost-effective materials for production.
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► Butadiene Market Recent Mergers and Acquisitions
The butadiene market has seen strategic mergers and acquisitions aimed at expanding production capabilities and market reach. For instance, LyondellBasell's acquisition of A. Schulman has strengthened its position in the butadiene derivatives market, enhancing its product portfolio and global presence.
► Butadiene Market Classifications
by Type
1Butadiene Rubber
2Styrene Butadiene Rubber
3Acrylonitrile Butadiene Rubber
4Nitrile Butadiene Rubber
Styrene Butadiene Latex
Hexamethylenediamine
by Application
Polybutadiene
Chloroprene
Styrene-Butadiene
Nitrile Rubber
SB Latex
Acrylonitrile Butadiene Styrene
Adiponitrile
Sulfolane
Ethylidene Norbornene
Other Applications
by Industry
Automobile Industries
Building & Construction
Consumer Products Industries
Healthcare
Others
For deeper market insights, peruse the summary of the research report: https://www.maximizemarketresearch.com/market-report/butadiene-market/13584/
► The following companies are included in the market for Butadiene :
North America
LyondellBasell Industries Holdings B.V.
The Dow Chemical Company
TPC Group
Exxon Mobil Corporation
Europe
Royal Dutch Shell Plc
Eni S.p.A.
Evonik Industries AG
Ineos Group AG
LANXESS
Nizhnekamskneftekhim.
Repsol
Borealis AG.
Versalis S.p.A.
BASF SE
Shell PLC
Asia Pacific
China Petroleum & Chemical Corporation
LG Chem
ZEON Corporation.
Shanghai Petrochemical
China National Petroleum Corporation
JSR Corporation
LOTTE CHEMICAL TITAN HOLDING BERHAD
Reliance Industries Limited
Middle East and Africa
SABIC
Formosa Plastics Corporation
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