The Butadiene Market size is expected to grow from USD 12.75 Billion in 2022 to USD 60.95 Billion by 2030, at a CAGR of 21.6 % during the forecast period.
The butadiene market is concerned with the production and distribution of 1,3-butadiene, an important industrial chemical that is frequently utilized in the creation of polymer resins and synthetic rubbers. In the production of polybutadiene rubber (PBR) and styrene-butadiene rubber (SBR), which are widely used in the tire industry and other industrial uses, it is an essential raw material. In response to the need for flexible polymers and elastomers, this market is essential to the worldwide petrochemical sector. Infrastructure development, improvements in polymer technology, and trends in the automobile industry all have an impact on the butadiene market. The market is important to many different industrial sectors because it is a necessary part of producing high-performance materials.
Top Key Players Covered In 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), and Other Major Players
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A vital component of the petrochemical industry, butadiene is used to produce synthetic rubbers and other chemicals. As such, the market for this commodity is rather large. The process of digesting hydrocarbons, especially ethylene steam cracking, yields butadiene, a colorless gas. For example, styrene-butadiene rubber (SBR) and polybutadiene rubber (PBR), which are widely used in the tire industry, automotive components, and a wide range of consumer goods, are manufactured in large part thanks to the market. Butadiene further benefits the chemical industry as a feedstock for the synthesis of numerous compounds.
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The Butadiene Market presents a stimulating opportunity for the investigation of sustainable production techniques and substitute feedstocks. There is a chance to fund research and development for butadiene production processes that are more environmentally friendly and sustainable, given the environmental issues raised by conventional feedstocks and production techniques. Furthermore, investigating substitute raw materials as feedstocks, including bio-based sources, can help lessen the environmental impact of butadiene production. Businesses can position themselves favorably in the market and satisfy the growing demand for environmentally friendly solutions by innovating in sustainable practices and alternative feedstocks.
Segmentation Analysis of the Butadiene Market
By Product
- Butadiene Rubber
- Styrene Butadiene Rubber
- Acrylonitrile Butadiene Rubber
- Nitrile Butadiene Rubber
- Others
By End-Users
- Automobile Industries
- Building & Construction
- Consumer Products Industries
- Healthcare
- Others
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The need from the tire manufacturing sector is one of the main factors propelling the butadiene market. Butadiene is a vital component in the creation of synthetic rubber, which is largely consumed by the tire industry. Butadiene demand is mostly influenced by the expansion of the global automotive industry and the growing need for tires, which is brought on by factors such growing vehicle production, the need for replacements, and growing transportation infrastructure. The butadiene market is a major driver of market expansion as it enjoys a simultaneous increase in demand as the tire industry expands globally.
By Region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Objectives of the Study:
- To offer a comprehensive analysis on the global Butadiene market by product type, by application and by region.
- To cater intricate information on factors influencing market growth (drivers, restraints, opportunities, and industry-specific restraints)
- To forecast and evaluate micro-markets and the overall market
- To predict the market size, in key regions (along with countries) North America, Europe, Asia Pacific, Latin America and Middle East and Africa
- To evaluate and analyze competitive landscape mapping- technological advancements, product launches, mergers and expansions
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