Key Considerations for Market Forecast:
- Impact of supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Quarterly impact analysis and updates on market estimates
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Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.
BASF SE, Braskem SA, China National Petroleum Corp., Dow Inc., Evonik Industries AG, Exxon Mobil Corp., Formosa Petrochemical Corp, INEOS Group Holdings SA, Royal Dutch Shell Plc, and TPC Group among others are some of the few key vendors competing to maintain their market position in the market.
Top 3 Vendor Analysis of Butadiene Market
- BASF SE: Offers high purity butadiene obtained from butadiene extraction technology.
- Braskem SA: Offers production of butadiene, for a raw material used in the synthetic rubber industry in the manufacture of tires and rubber products in general.
- China National Petroleum Corp: Offers Styrene-Butadiene Thermoplastic Elastomer (SBS) under petro chemical products.
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
- Segmentation by Derivative type:
- Polybutadiene rubber:
- The butadiene market share growth by the polybutadiene rubber segment will be significant during the forecast period. The wide application of PBR in the manufacturing of tire treads for commercial and passenger vehicles, automotive components, covers for pneumatic and water hoses, golf balls, footwear, industrial parts, rubber isolators and casters, inner tubes of hoses for sandblasting, conveyor belts, shoe soles, and polystyrene modifiers is expected to support the growth in this segment.
- Styrene butadiene rubber
- Styrene butadiene latex
- Acrylonitrile butadiene styrene resins
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Regional Market Outlook
During the forecast period, APAC will account for 57 percent of market growth. Butadiene's main markets in APAC include China, India, and Japan. The market in APAC will increase at a quicker rate than the industry in other regions.
Butadiene market expansion in APAC would be aided by the presence of a high number of manufacturing industries in growing economies such as China throughout the forecast period. In addition, by 2025, China will produce 120.7 million motorcycle tires and 420 million bicycle tires each year. This has a significant impact on the country's market need for butadiene.
On the other hand, In India, there are numerous tire manufacturers such as MRF, TVS, Apollo Tires, and JK Tires and around 6,000 non-tire manufacturers producing seals, conveyor belts, and extruded and molded rubber profiles to be used in automotive, railway, defense, aerospace, and other applications. Indian truck and bus tire production increased by 35% in December 2020 as compared to the same month of the previous year.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Trends, Driving the Global Butadiene Market
- Market Driver:
- The increasing demand from the automotive industry:
Due to an increase in the price of natural rubber, tyre producers have been forced to replace it with synthetic rubber, of which SBR is one of the least expensive. Furthermore, due to an increase in demand for lightweight and fuel-efficient automobiles, the global automotive industry is predicted to develop during the forecast period. Due to an expansion in the middle-class population, high discretionary incomes, and a rise in the employed population, significant demand for passenger automobiles is projected in developed countries such as the United States and developing countries such as China and India.
- Market Trend:
- Rising demand for bio-based feedstock:
On the basis of achieving sustainability, the development of renewable chemicals for the production of rubber is quickly increasing. The use of renewable feedstock for the production of synthetic rubber has been spurred by high pricing and an unlimited supply of petroleum raw materials and natural rubber. Gevo, Amyris, and Genomatica, for example, are working on making synthetic rubber from bio-based raw materials including sugar, glycerin, and other plant-based raw materials. As a result, the key market participants' sporadic attention on achieving cost-effectiveness and sustainability through the development of bio-based feedstock would undoubtedly have an impact on the global butadiene market's growth throughout the forecast period.
Find additional information about various other market drivers & trends mentioned in our FREE sample report.
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Butadiene Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.15% |
Market growth 2022-2026 |
$ 10.77 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.90 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 57% |
Key consumer countries |
China, US, India, Germany, and Japan |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
BASF SE, Braskem SA, China National Petroleum Corp., Dow Inc., Evonik Industries AG, Exxon Mobil Corp., Formosa Petrochemical Corp, INEOS Group Holdings SA, Royal Dutch Shell Plc, and TPC Group |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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