Overview and Scope
Butadiene, obtained from petroleum, refers to the colorless and highly flammable gaseous open-chain hydrocarbon C4H6 that is used in making synthetic rubbers. It belongs to a class of organic compounds called dienes, which are hydrocarbons that contain two carbon-carbon double bonds. Butadiene is a highly reactive and versatile compound used primarily as a monomer, a molecule that can join together to form a polymer to produce synthetic rubbers.
Sizing and Forecast
The butadiene market size has grown exponentially in recent years. It will grow from $12.41 billion in 2023 to $14.95 billion in 2024 at a compound annual growth rate (CAGR) of 20.4%. The growth in the historic period can be attributed to automotive industry demand, petrochemical industry expansion, economic cycles, consumer electronics boom, oil and gas prices..
The butadiene market size is expected to see rapid growth in the next few years. It will grow to $29.48 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to renewable feedstocks, electric vehicle expansion, circular economy initiatives, focus on lightweight materials, healthcare sector expansion.. Major trends in the forecast period include supply chain localization, market consolidation and partnerships, rise of smart materials, adoption of advanced manufacturing techniques, resilience planning, customization and tailored solutions..
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Segmentation & Regional Insights
The butadiene market covered in this report is segmented –
1) By Product: Polybutadiene (PBR), Styrene-Butadiene (SBR), Chloroprene, Nitrile Rubber, Acronitrile Butadiene Styrene (ABS), Adiponitrile, Sulfonale, Ethylidene Norbornene, Styrene Butadiene Latex, Other Products
2) By Production Process: C4 Hydrocarbon Extraction, N-Butane Dehydrogenation, From Ethanol, From Butenes
3) By Sales Channel: Direct Sale, Indirect Sale
4) By End-User Industry: Plastic And Polymer, Tire And Rubber, Chemical, Other End-User Industries
Asia-Pacific was the largest region in the butadiene market in 2023. The Middle East and Africa are expected to be the fastest-growing regions in the forecast period. The regions covered in the butadiene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The expansion of the automotive industry is expected to boost the butadiene market. The automotive industry is the sector involved in designing, developing, manufacturing, selling, and maintaining automotive vehicles. Butadiene-based materials provide excellent durability, flexibility, and resistance to heat, chemicals, and mechanical stress, making them ideal for automotive applications such as seals, gaskets, hoses, belts, and under-the-hood components. For instance, according to Statistics Canada, a Canada-based Government agency, the total number of registered road motor vehicles in Canada climbed to 26.2 million in 2021. Further, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, electric car sales set a new high in 2021, climbing by 4%. Sales nearly doubled to 6.6 million, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the automotive industry’s expansion is driving the butadiene market’s growth.
Key Industry Players
Major companies operating in the butadiene market report are Exxon Mobil Corporation, China Petroleum & Chemical Corporation, Shell plc., Eni S.p.A., Reliance Industries Limited, BASF SE, Repsol S.A., The Dow Chemical Company, Saudi Arabia’s Basic Industries Corporation, Lyondellbasell Industries Holdings B.V., LG Chem Ltd., Ineos Group AG, INEOS Group Ltd., China National Petroleum Corporation, Evonik Industries AG, Borealis AG, Lanxess AG, Formosa Plastics Corporation, Zeon Corporation, Nova Chemicals Corporation, JSR Corporation, Lotte Chemical Titan Holding Berhad, Nizhnekamskneftekhim, TPC Group, Mallard Creek Polymers Inc., AirBoss Rubber Solutions
The butadiene market report table of contents includes:
1. Executive Summary
2. Butadiene Market Characteristics
3. Butadiene Market Trends And Strategies
4. Butadiene Market – Macro Economic Scenario
5. Global Butadiene Market Size and Growth
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32. Global Butadiene Market Competitive Benchmarking
33. Global Butadiene Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Butadiene Market
35. Butadiene Market Future Outlook and Potential Analysis
36. Appendix
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