Global Butadiene market is expected to foresee significant growth due to increasing demand of synthetic rubber
- Himanshu Patni
- December 18, 2021
- CHEMICAL, NEWS
- Butadiene market, Butadiene market growth, Butadiene market share, Butadiene market size, Butadiene market trend
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The global Butadiene market is expected to demonstrate the growth of ~4% during the forecast period (2021-2027). Synthetic rubbers are commonly used in large number of industries started from tires to kitchen appliances. Further, low cost of synthetic rubber compared to natural rubber is propelling the market of synthetic as a result demand of butadiene is increasing.
The global increase in production of tire, footwear, and consumer goods products among others has increased the company’s reliance on synthetic rubber as it offers high performance at a lower cost compared to natural rubber. Since butadiene is an important raw material in the manufacturing of synthetic rubber, therefore increasing consumption of tire, footwear, and consumer goods is increasing the production and consumption of butadiene. Further, butadiene is used in manufacturing of ABS commonly used in commercial and industrial applications such as automotive, electronics, telecommunication, etc. where hard yet light weight, heat resistant and easily processed materials are required. Therefore, growth in these industry would also propel the demand of ABS which eventually drive the market of butadiene.
For a detailed analysis of the market drivers browse through – https://univdatos.com/report/butadiene-market/
However, crude oil & gas is the primarily raw material for the production of Butadiene. Therefore, volatility in the crude oil price affects the dynamics of Butadiene market. For instance, in 2020, crude oil & gas production and price fall to all time high owing to COVID-19 which has affected the global supply chain. This has resulted in the negative impact on Butadiene market.
Based on application, the market is categorized into butadiene rubber, SBR, ABS, SB latex, NBR, and others. Among these, the SBR category held the substantial market share in the global Butadiene industry. This can be mainly attributed to its preferential usage in the light duty products owing to its excellent abrasion resistance, crack endurance, and ageing characteristics. However, because of its inferior heat resistance to natural rubber, it’s used in lessening proportions in car tires up to high performance or heavy-duty tires. Although, increasing adoption of electric vehicle (EV) is opening a new hot revenue pocket for SBR manufacturers as EV has comparative less average life than ICE vehicle of around 8 years. Thus, demand for original equipment tire and increasing production of EV would increase the demand of SBR.
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For a better understanding of the market adoption of Butadiene, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific held the prominent position in the global Butadiene market owing to its large tire manufacturing industry and largest automobile production base across the globe. For instance, tire manufacturers like Bridgestone, Yokohama, Kumho, Hankook, Triangle, Apollo, and MRF are among the largest producer of tire, globally. Further, the regional is the largest producer footwear in the world, with country like China, Vietnam, Indonesia, and India has considerable market share. Therefore, region has large number of synthetic rubber manufacturing facilities in order to make a strong supply chain and take advantage of lower manufacturing cost. As a result, high consumption of butadiene by these facilities.
Global Butadiene Market Segmentation
Market Insight, by application
- Butadiene Rubber
- SB Latex
Market Insight, by Region
- North America Butadiene Market
- United States
- Rest of North America
- Europe Butadiene Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Butadiene Market
- Rest of Asia-Pacific
- Rest of World Butadiene Market
Top Company Profiles
- TPC Group
- Royal Dutch Shell Plc
- Exxon Mobil Corporation
- China National Petroleum Corporation
- BASF SE
- Braskem S.A.
- LyondellBasell Industries Holdings BV
- Repsol S.A.