New York, October 11, 2021 – Reports and Data has published its latest report titled “Butadiene Market, By Product Type (Butadiene Rubber, Styrene-butadiene Rubber, Styrene-butadiene Latex, Acrylonitrile Butadiene Rubber, Nitrile Butadiene Rubber, Hexamethylenediamine, Others), By Production Process (C4 hydrocarbon extraction, n-butane dehydrogenation, From ethanol, From butenes), By End-use Industry (Building & Construction Industry, Healthcare Industry, Automobile Industry, Consumer Goods Industry, Textile Industry, Others), And Region – Global Forecast To 2028”
Growing use of synthetic rubbers and polymers in a wide range of industries including automobile, building & construction, and consumer goods industries is one of the key factors driving market growth
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According to Reports and Data, the global butadiene market size was USD 18.67 billion in 2020 and is expected to reach USD 24.26 billion in 2028 and register a revenue CAGR of 3.3% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
Butadiene is an organic compound chemically represented with the formula (CH₂=CH)₂. The colorless gas with a gasoline-like smell can be easily condensed to liquid and is extensively used as a chemical intermediate in the manufacture of rubber and plastics. The global butadiene market revenue growth is majorly attributed to factors such as increasing applications of butadiene in a wide range of industries including buildings & construction, automobile, packaging, electronics, manufacturing, and protective clothing, and growing use of butadiene derivatives including styrene-butadiene rubber (SBR), styrene butadiene latex (SB Latex), acrylonitrile butadiene styrene (ABS) resins, polybutadiene rubber (PBR), nitrile rubber (NR), and adiponitrile in construction materials, electronic appliance parts, IT and telecommunication equipment, automotive parts (tires and accessories), and various consumer goods.
Butadiene-based polymers offer advantages such as improved functionality, robust performance, increased safety, and higher cost-efficiency. Moreover, increasing use of bio-based butadiene in the manufacture of synthetic rubber and solvents & coatings and growing awareness of eco-friendly building materials further bolster the global market growth.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Acrylonitrile Butadiene Rubber Segment to Account for Fastest Revenue CAGR:
Based on product type, the acrylonitrile butadiene rubber segment is expected to register the fastest revenue growth rate over the forecast period. Growth of this segment is primarily attributed to increasing applications of acrylonitrile butadiene styrene (ABS) in the production of plastic face guards for wall sockets, protective coverings for power tools, and corrugated plastic structures. ABS is a sturdy thermoplastic polymer characterized by its lightweight and rigidity. Common uses of the product in the automotive and construction industries are further expected to boost this segment’s growth.
Automobile Industry Segment Dominated Other Segments in 2020:
Among end-use industry segments, the automobile industry segment reached the largest revenue share in the global butadiene market in 2020. Favorable factors for the robust growth of this segment include rise in global production and sales of vehicles, increasing applications of high-performance butadiene rubber in the manufacture of various automotive parts and components such as tires, hoses, gasket seals, and fuel lines, and growing demand for electric vehicles worldwide.
Asia Pacific to Lead in Terms of Revenue CAGR:
The butadiene market in Asia Pacific is projected to register the fastest growth in revenue over the forecast period due to favorable factors. The regional market growth is attributed to rapid industrialization and urbanization – mainly in developing economies including India, China, Indonesia, and Thailand – growing use of green building & construction materials, increasing production & sales of automobiles, and increasing demand for consumer electronics. Rising income levels of consumers are expected to create further growth opportunities for the Asia Pacific market.
Major Companies in the Market Include:
- BASF SE
- Reliance Industries Limited
- ExxonMobil Chemical Company
- Royal Dutch Shell Plc.
- TPC Group Inc.
- Sinopec
- LyondellBasell Industries N.V.
- Braskem S.A.
- Jiutai Energy Inner Mongolia Co. Ltd.
- Lanxess
- Evonik Industries AG
- Eni S.p.A
- Formosa Plastics Group
- Ineos Group AG
- JSR Corporation
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Market Segmentation:
For the purpose of this report, Reports and Data has segmented the global butadiene market based on product type, production process, end-use industry, and region:
Product Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
- Butadiene Rubber
- Styrene-butadiene Rubber
- Styrene-butadiene Latex
- Acrylonitrile Butadiene Rubber
- Nitrile Butadiene Rubber
- Hexamethylenediamine
- Others
Production Process Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
- C4 hydrocarbon extraction
- n-butane dehydrogenation
- From ethanol
- From butenes
End-use Industry Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
- Building & Construction Industry
- Automobile Industry
- Healthcare Industry
- Consumer Goods Industry
- Textile Industry
- Others
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- E.A
- South Africa
- Israel
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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