The Global Butadiene Market size reached USD 14.3 billion in 2022 and is expected to reach around USD 54.2 billion by the end of 2030, expected to grow at a compound annual growth rate of 20.92% from 2022 to 2030.
Fundamentally speaking, butadiene is a highly reactive, colorless gas. It is an essential industrial substance used in creating synthetic rubber and plastic. The automotive industries employ rubber and plastic materials in construction, packaging, consumer goods, and protective apparel. They are utilised in many applications, including polybutadiene, chloroprene, styrene-butadiene, nitrile rubber, SB latex, acrylonitrile butadiene styrene, adiponitrile, sulfolane, and ethylidene norbornene.
Market Dynamics:
Drivers:
The primary drivers of the butadiene market growth rate include variables like increased end-use industry demand, enhanced functionality at reduced costs, and an increase in the number of automobiles. The variety of end-user industries in which butadiene is used, as well as the fact that it is used in the electrical industry as an insulation solution for wires and cables due to its excellent elastic properties, are the factors anticipated to restrain the growth of the butadiene market during the forecast period.
Additionally, its use in the production of golf balls, footwear, industrial parts, automotive components, inner tubes of hoses for sandblasting, covers for pneumatic and water hoses, rubber isolators and casters, conveyor belts, shoe soles, and polystyrene modifiers are further expected to restrain the butadiene market growth. Furthermore, butadiene market expansion is anticipated to be hampered by reasons including a drop in output brought on by the discovery of shale oil and negative acute and chronic effects. The unstable raw material prices and the strict regulatory environment are predicted to impede the Butadiene Market's overall growth.
Restraints:
The focus of manufacturers on developing bio-based methods to produce 1,3 butadiene and the growing demand for nylon 66 resin in vital end-use industries like automotive and electronics are expected to create several market possibilities. On the other hand, it is anticipated that the recent collapse of the automotive industry will provide a significant obstacle to the expansion of the butadiene market.
Key players:
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Nizhnekamskneftekhim.,
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SABIC,
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The Dow Chemical Company,
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TPC Group,
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Formosa Plastics Corporation,
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ZEON Corporation.,
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Shanghai Petrochemical
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And Others
Market Segmentation:
Butadiene Market, By Product Type
Butadiene Market, By Production Process
Butadiene Market, By Geography
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North America
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Europe
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Asia-Pacific
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Latin America
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Middle East & Africa (MEA)
Regional Analysis:
According to improved and favorable investment policies implemented by the government to support industrial expansion, population growth, and the development of regional economies, the Asia-Pacific region dominates the global butadiene market. As a result of their excellent resistance to solvents and oils and the fact that they can be utilized at greater temperatures than other types of rubber, North America will continue to experience profitable growth during the projection period.
Scope of the Report:
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Report Coverage |
Details |
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Base year |
2021 |
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Forecast period |
2030 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 20.92% |
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YoY growth (%) |
XX% |
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Regional analysis |
North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa |
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Current Market size |
USD 14.1 billion |
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Forecast market growth |
USD 54.2 billion |
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Introduction
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Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
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