As per the ChemAnalyst report titled “Butadiene Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, 2015-2035,” the Butadiene market is poised for expansion and is anticipated to reach 22 million tonnes by 2035, with a Compound Annual Growth Rate (CAGR) of 4.79% during the forecast period. This growth is primarily attributed to the increasing demand for Butadiene from various end-use industries such as Styrene Butadiene Rubber, Poly Butadiene Rubber, Acrylonitrile Butadiene Styrene, and others.
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Butadiene, also known as 1,3-butadiene, is a colorless gas produced either through the dehydrogenation of butanes or by the cracking of petroleum derivatives, such as distillates, at elevated temperatures. In the presence of a catalyst, Butadiene transforms into a stretchy elastic material and exhibits properties similar to rubber. It finds extensive applications in the synthesis of rubbers and plastics, including Styrene Butadiene Rubber, Poly Butadiene Rubber, and Acrylonitrile Butadiene Styrene. Butadiene possesses high elasticity and excellent insulation properties against heat and electricity. Its applications range from rubber insulators, conveyor belts, and golf balls to industrial components, automobile tires, shoe soles, and more.
The primary driver of the global Butadiene market is the synthesis of rubbers and plastics, which are further used to manufacture various goods and commodities, such as tires. In 2021, the Styrene Butadiene Rubber industry accounted for approximately 55% of the global Butadiene market and is expected to maintain its dominant position in the market in the coming years. The high resistance to wear and tear of Styrene Butadiene Rubber makes it a preferred material for manufacturing tires, wire belting, roll covers, carpets, hoses, gaskets, and abrasion-resistant seals, thus boosting the demand for Butadiene in the forecast period. Additionally, Butadiene is used to enhance the properties of polymers, contributing to the growth of the Butadiene market.
The Butadiene market is categorized based on end-use, sales channels, and regions. In terms of end-use, it is segmented into Styrene Butadiene Rubber, Poly Butadiene Rubber, Acrylonitrile Butadiene Styrene, and others. The Styrene Butadiene Rubber industry globally dominates the market, utilizing around 55% of global Butadiene in 2021. Styrene Butadiene Rubber is expected to continue its dominance in the forecast period, growing at a CAGR of 4.80%. The Acrylonitrile Butadiene Styrene sector is also witnessing steady growth, with a projected CAGR of 5.02%.
Regionally, Asia Pacific holds the leading position in the Butadiene market, consuming approximately 54% of global Butadiene in 2021. The region is expected to remain the largest consumer, driven by the growing demand for tires for personal and commercial vehicles, for which Butadiene serves as a vital raw material. Europe follows Asia Pacific in terms of global Butadiene consumption.
Major players in the Butadiene market include TPC Group, Petrochina, Haldia Petrochemicals Limited, Lyondell Basell, Formosa Plastics Corporation, Shell Chemicals, Braskem, Sabina Petrochemical, Ineos, Evonik Industries AG, ExxonMobil Corporation, Dow Chemical, and Versalis.
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https://www.chemanalyst.com/industry-report/butadiene-market-623
Mr. Karan Chechi, Research Director at TechSci Research, a research-based management consulting firm affiliated with ChemAnalyst, noted, “The growing demand for Butadiene for the synthesis of various rubbers and plastics used in the production of everyday commodities is expected to drive the Global Butadiene market in the forecast period until 2035. The consistent demand for Butadiene in the synthesis of Styrene Butadiene Rubber (SBR) due to its properties like flexibility and insulating capabilities, which are employed in tire manufacturing in the automobile industry, is expected to further expand the Butadiene market in the forecast period.”
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