The Rising Demand Of The Polymer Industry To Boost The Butadiene Market Growth

Butadiene Market
Butadiene Market 

The Butadiene Market is segmented by Application (Polybutadiene (PBR), Chloroprene, Styrene-butadiene (SBR), Nitrile Rubber (Acrylonitrile Butadiene NBR), Acrylonitrile Butadiene Styrene (ABS), Adiponitrile, Sulfolane, Ethylidene Norbornene, Styrene Butadiene Latex, and Other Applications), End-user Industry (Plastic and Polymer, Tire and Rubber, Chemical, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa) )- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030

The global Butadiene Market is estimated to be valued at US$ XX million in XXX and is expected to exhibit a CAGR of XX% over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Butadiene is extracted by the processing of petroleum and is mostly utilized in the manufacturing of synthetic rubber, however is also observed in smaller quantities in plastics and gasoline. Butadiene has a benefit compared to other rubbers as it can be employed at high heat. This enables it to be utilized as an insulator in cable. Butadiene is utilized to produce biofuels. These fuels consist high energy content.

Competitive Landscape:

Major key players involved in the global Butadiene Market are LOTTE CHEMICAL TITAN HOLDING BERHAD, BASF SE, Braskem, China Petroleum & Chemical Corporation, Dow, Evonik Industries AG, LG Chem, Royal Dutch Shell Plc, Formosa Plastics Corporation, TPC Group, INEOS, Exxon Mobil Corporation, LyondellBasell Industries Holdings BV, Reliance Industries Limited., JSR, Corporation, Repsol, SABIC, and China National Petroleum Corporation.

Market Key Drivers:

The rising demand of the polymer industry is expected to augment the growth of global butadiene for market. For instance, as per IBEF, totally, the whole plastics exports amidst April-September 2022 reached US$ 6.38 billion in India.

The rising demand of tires is projected to propel the growth of global butadiene for market. For instance, as per USTMA, the total tire shipment in U.S reached 342.1 million units in 2022.

The Ethylene Carbonate Market is anticipated to expand significantly over the next few years as a result of its rising demand.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of global Butadiene Market due to the imposition of strict lockdown. The closure of manufacturing units and the disruption in supply chain had led to the decline in demand of automobiles. This is expected to impede the market growth.

Key Takeaways:

The global butadiene for market is expected to exhibit a CAGR of XX % during the forecast period due rising demand of rubber. For instance, as per European Tyre and Rubber Manufacturers' Association (ETRMA), there are above 6000 organizations manufacturing rubber goods in Europe.

Among region North America, Asia Pacific and Europe are anticipated to witness robust growth in the global Butadiene Market due to rising demand of vehicles, rising use of rubber and tires and rising industrial growth. For instance, as per OICA, in 2021, total number of vehicles produced in India was around 4,399,112.

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