WASHINGTON, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Global Butadiene Market is valued at USD 10.5 Billion in 2021 and is projected to reach a value of USD 29.0 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 18.5% over the forecast period 2022-2028.
Butadiene is a vital component in the steam cracking process, and the demand for synthetic rubbers has a considerable impact on the Butadiene Market, which in turn is driven by the automotive sector. Therefore, the supply-demand tensions in other markets considerably affect the Butadiene sector. Nevertheless, several factors are propelling the global market, including the advent of green methods for manufacturing polymer emulsions, the growing need for water-based solvents and coatings, and the development of new industrial sectors such as the automotive and consumer durables industries.
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The non-corrosive, colorless gas Butadiene is used to make a wide variety of polymers and rubbers. These include Butadiene rubber, styrene rubber, adiponitrile, polychloroprene, and nitrile rubber. Most of it comes from the distillation of steam cracker byproducts, such as ethylene and propylene.
According to Vantage Market Research, The demand for Butadiene decreased as a result of the increased demand for styrene-Butadiene rubber and polyButadiene rubber. These materials are utilized in tires, building crack fillers, concrete additives, etc. Nitrile rubber protective gloves, however, have become increasingly popular in light of the current scenario, driving up demand in the Butadiene Market.
During the forecast period, the Butadiene Market in Asia-Pacific is projected to expand at the highest CAGR. Countries like China, Japan, and India are located there and are among the world's top users of Butadiene. Tires, synthetic rubber, and plastics are just a few of the end-use industries driving the expansion of the Asia-Pacific Butadiene Market. When it comes to Butadiene consumption, China is among the world's leaders. Chemicals and polymers are two of the country's most valuable exports. In 2018, the country had a Butadiene production capacity of 4.6 million metric tonnes. A rise in demand from a wide range of end-use sectors has contributed to the rapid expansion of the country's polymer industry. Over the projected period, this is what we anticipate will drive demand for Butadiene in China.
Development of Bio-Based Butadiene to Drive the Market
Numerous market opportunities are projected as a result of manufacturers' attention to the development of bio-based production processes for Butadiene and the rising demand for nylon 66 resin in significant end-use industries like automotive and electronics. In addition, numerous academics are engaged in similar research, and governments support the use of bio-based substitutes in their respective countries. The transition from conventional petroleum-based sourcing to alternative sources like bio-Butadiene is one of the greatest themes in the Butadiene Market. Concerns about the effects of conventional Butadiene production on the environment and the high price of crude oil are the driving forces behind this movement. As a result, several businesses are spending money on developing new sources of Butadiene.
Increasing Demand From Ends User Industry Launches to Promote Market Growth
Since synthetic rubber offers higher performance at a lower price than natural rubber, it has become increasingly important to many end-user industries in response to rising global demand for consumer goods, footwear, and tires. As a key basic material in the production of synthetic rubber, Butadiene is seeing a rise in both production and consumption due to the increased demand for tires, shoes, and consumer goods.
Butadiene is also used to make ABS, a material with numerous commercial and industrial applications due to its high strength-to-weight ratio, high heat resistance, and ease of processing. It is widely used in sectors such as the automotive industry, electronics manufacturing, and communications. As a result, growth in these sectors would stimulate demand for ABS, which would, in turn, stimulate the Butadiene Market.
When Butadiene-based rubber is utilized as a starting ingredient, the resulting plastic is known as acrylonitrile-Butadiene-styrene (ABS) resin. Producing tires often requires the use of polyButadiene. According to estimates, tires account for roughly 70% of annual global polyButadiene production. Its most common application is as a tire sidewall, where it helps alleviate fatigue from the continual bending that occurs during running. In addition to its role in this, Butadiene is also useful in other auto parts.
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Top Trends in Global Butadiene Market
One trend that Vantage Market Research (VMR) expects to see in the Butadiene industry is the rising need for high-performance polymers. These polymers have several uses, including in automobile components, building supplies, and everyday consumer items. These polymers are gaining in popularity because of their excellent qualities, which include strength, durability, and resistance to heat.
Another trend that VMR predicts will continue in the Butadiene industry is Increased demand from Asia and shift from traditional petroleum-based sourcing to alternative sources such as bio-Butadiene. This year, increased demand from nations like India and South Korea has made Asia a key market for Butadiene. As Butadiene is used to create tires and other rubber products, its popularity has increased in these nations thanks to the expanding automobile sector.
Top Report Findings
Based on product, most of the Butadiene Market's revenue is controlled by the styrene-Butadiene (SB) latex category. Styrene-Butadiene latex, sometimes referred to as SB latex, is a well-known example of an emulsified polymer with numerous uses in both commercial and industrial settings. Thus, driving the market growth over the projected period.
Based on End user, the Automobile industry dominated the Butadiene Market. The increased need for synthetic rubber based on Butadiene in the tire industry is what has led to this dominance. However, the footwear sector is another significant user of synthetic rubber based on Butadiene. Because of its excellent abrasion resistance and hardness, synthetic rubber derived from Butadiene is a great choice for shoe soles.
Key Points Covered in Butadiene Industry Survey:
Market Estimates and Forecasts (2016-2028)
Key Drivers and Restraints Shaping Market Growth
Segment-wise, Country-wise and Region-wise Analysis
Competition Mapping and Benchmarking
Market Share Analysis
Assessment by Product Grade / Purity / Formulation Standards
Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
Leading Export - Import Destinations
Certifications and Compliance Requirements
COVID-19 Impact on Demand for Organic Acids and How to Navigate
Recommendation on Key Winning Strategies
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Top 8 Players Generates More Than 25% of the Global Butadiene Market Revenue
In 2021, the top six competitors controlled around 25% of the market. The dominant player on the market with the biggest market share was Royal Dutch Shell Plc. (The Netherlands). The business, which has upstream, downstream, and corporate business segments, is one of the largest producers of chemical products in the world. Its chemical products are used in a variety of application industries, including the automotive, building & construction, electronics, plastic & polymers, and others.
Top Players in the Global Butadiene Market
China Petroleum & Chemical Corporation (China)
Shell PLC (UK)
Eni Corporations (Italy)
Evonik Industries (Germany)
INEOS Group Ltd. (UK)
LANXESS Chemicals Company (Germany)
LG Chemicals Company (South Korea)
LyondellBasell Industries Holdings BV (Netherlands)
PJSC "Nizhnekamskneftekhim" (Russia)
Repsol S. A. (Spain)
Saudi Basic Industries Corporation (Saudi Arabia)
The Dow Chemical Company (US)
TPC Group (US)
Formosa Plastics Corporation (Taiwan)
ZEON Corporation (Japan)
China Petrochemical Corporation Borealis AG (China)
Versalis S.P.A. (Italy)
Global Butadiene Market Segmentation
Styrene Butadiene Rubber
Acrylonitrile Butadiene Rubber
Nitrile Butadiene Rubber
Styrene Butadiene Latex
By End Users
Building & Construction
Consumer Products Industries
Other End Users
Acrylonitrile Butadiene Styrene
Middle East & Africa
January 2020: According to reports, CPC Corporation's naphtha cracker in Taiwan, which has the capacity to manufacture 380 tons/year of ethylene and 193,000 tons/year of propylene, a major feedstock for Butadiene, has begun operations following extensive renovations to the facility.
The global elastomers business of JSR Corporation, which encompasses the production and marketing of synthetic rubber, was acquired by ENEOS Corporation, the Japanese oil firm, in June 2021. By dividing the business, JSR will create a new company and transfer the elastomer business and the shares of worldwide subsidiaries and affiliates associated with this business to the new firm. Subsequently, ENEOS will purchase all of the new company's shares, converting them into a wholly-owned subsidiary.
Sinopec-SK Petrochemical Co. Ltd., a partnership between Sinopec and SK Global Chemical (a division of SK Innovation), announced in April 2021 that it intended to finish expanding new petrochemical facilities and launch commercial operations in the second half of 2021.
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on Butadiene Market Forecast Report (2022-2028).
Scope of the Report:
Market Size in 2021
USD 10.5 Billion
Revenue Forecast by 2028
USD 29.0 Billion
18.5% from 2022 to 2028
2022 to 2028
China Petroleum & Chemical Corporation, Shell PLC, Eni Corporations, Evonik Industries, INEOS Group Ltd., LANXESS Chemicals Company, LG Chemicals Company, LyondellBasell Industries Holdings BV, PJSC "Nizhnekamskneftekhim", Repsol S. A., Saudi Basic Industries Corporation, The Dow Chemical Company, TPC Group, Formosa Plastics Corporation, ZEON Corporation, China Petrochemical Corporation Borealis AG, Versalis S.P.A.
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