Butadiene Market – Growing Demand for Consumer Goods, Footwear, and Tires to Lead the Market Growth – Growing at a CAGR (Compound Annual Growth Rate) 18.5% from 2022 to 2028

As stated in our extensive report; the Global Butadiene Market accounted forUSD 10.5 Billionin 2021.

In essence, Butadiene is a highly reactive, colorless gas. It is a crucial industrial ingredient in the creation of synthetic rubber and plastic. The automotive industries employ the resulting rubber and plastic products for construction, packaging, consumer goods, and protective apparel. They are employed in a number of different materials and products, including polyButadiene, Chloroprene, Styrene-Butadiene, Nitrile Rubber, SB Latex, Acrylonitrile ButadieneStyrene, Adiponitrile, Sulfolane, Ethylidene Norbornene.

The automobile sector has a substantial impact on the demand for synthetic rubbers, which in turn has an impact on the Butadiene Market. On the other hand, because ethylene is a crucial component required for the steam cracking process, it has an impact on supply. As a result, the supply-demand issues in other markets greatly impact the Butadiene sector. Some of the factors driving the global market include the development of environmentally friendly methods for creating polymer emulsions, the rise in demand for water-based coatings and solvents, as well as the development of industrial sectors like automotive and consumer durables.

Segmentation

The Butadiene Market is segmented on the basis of products, End Users and 10;On the basis of products, the Butadiene Market is segmented into ButadieneRubber, Styrene ButadieneRubber, Acrylonitrile ButadieneRubber, Nitrile ButadieneRubber, Styrene ButadieneLatex and Hexamethylenediamine. Furthermore, based on the End Users, the Butadiene Market is divided into Automobile Industries, Building & Construction, Consumer Products Industries, Healthcare and Other End Users. In addition, on the basis of application into PolyButadiene, Chloroprene, Styrene-Butadiene, Nitrile Rubber, SB Latex, AcrylonitrileButadieneStyrene, Adiponitrile, Sulfolane, Ethylidene Norbornene and Other Applications. Region-wise, the Global Butadiene Market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Market Dynamics

Butadiene is a key raw material used to create a variety of elastomers, including acrylonitrile Butadiene styrene (ABS), polyButadiene, latex, styrene-Butadiene, and nitrile rubber. Steam cracking is the primary method, though butane or butene dehydrogenation can also be used to make it. The market for Butadiene has been driven by the product's demand and numerous applications.

Growing demand for consumer goods, footwear, and tires globally has made many end-user industries more reliant on synthetic rubber because it offers better performance at a lower cost than natural rubber. Because Butadiene is a key raw material used to make synthetic rubber, demand for tires, shoes, and consumer goods are driving up Butadiene production and consumption.

Furthermore, Butadiene is used to create ABS, a substance that is often used in commercial and industrial applications such as automotive, electronics, communications, etc., where it is important to have materials that are strong yet lightweight, heat resistant, and easily processed. Therefore, growth in these sectors would also increase demand for ABS, which would, in turn, drive up Butadiene prices. When Butadiene-based rubber is used as the starting material, the main component of acrylonitrile-Butadiene-styrene (ABS) resin, which has numerous uses, is utilized to manufacture plastics. For example, polyButadiene is typically used in tire manufacture. Tire production is believed to consume over 70% of the world's polyButadiene production. It is mostly used in tires as a sidewall to lessen strain caused by continual bending when running. In addition to this, Butadiene is utilized in other parts of vehicles.

Asia Pacific Region to Take Over the Market

During the forecast period, the Butadiene Market in Asia Pacificis anticipated to develop at the quickest rate. Because of its quick industrialization and rising demand for Butadiene in rubber and automotive applications, Asia-Pacific now has a dominating position in the Global Butadiene Market and is expected to grow at the greatest rate over the forecast period. China, which uses the most Butadiene in the region, is the market with the quickest growth, followed by India and other South-East Asian countries. This is a result of increased auto production. According to the China Association of Automobile Manufacturers, sales and production of commercial vehicles reached 5,01,000 and 4,68,000 units in April 2021, representing significant increases of 91 percent and 73.8 percent over March, respectively (CAAM). As a result, Butadiene Market participants can benefit financially. In addition, the regional market expansion is encouraged by the textile industry's growing use of Butadiene derivatives in the production of shoes, gloves, and belts.

Conclusion

Growing demand for consumer goods, footwear, and tires will have a favorable impact on the overall Butadiene Market.

Some of the key players in the Global Butadiene Marketinclude- China Petroleum & Chemical Corporation (China), Shell PLC (UK), Eni Corporations (Italy), Evonik Industries (Germany), INEOS Group Ltd. (UK), LANXESS Chemicals Company (Germany), LG Chemicals Company (South Korea), LyondellBasell Industries Holdings BV (Netherlands), PJSC "Nizhnekamskneftekhim" (Russia), Repsol S. A. (Spain), Saudi Basic Industries Corporation (Saudi Arabia), The Dow Chemical Company (US), TPC Group (US), Formosa Plastics Corporation (Taiwan), ZEON Corporation (Japan), China Petrochemical Corporation Borealis AG (China), Versalis . (Italy) and 160;