Global Butadiene Market Size To Exceed USD 50.45 Billion By 2033 | CAGR Of 4.49%

Global Butadiene Market Size To Exceed USD 50.45 Billion By 2033

According to a research report published by Spherical Insights & Consulting, The Global Butadiene Market Size is Expected to Grow from USD 32.53 Billion in 2023 to USD 50.45 Billion by 2033, at a CAGR of 4.49% during the forecast period 2023-2033.

Browse key industry insights spread across 190 pages with 100 Market data tables and figures & charts from the report on the "Global Butadiene Market Size, Share, and COVID-19 Impact Analysis, By Application (Polybutadiene (PBR), Chloroprene, Styrene-butadiene (SBR), Nitrile Rubber (Acrylonitrile Butadiene NBR), Acrylonitrile Butadiene Styrene (ABS), Adiponitrile And Others), By End User (Plastic and Polymer, Tire and Rubber, Chemical, And Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/butadiene-market    

The butadiene market is the worldwide business engaged in butadiene production, distribution, and consumption. Butadiene is a very versatile organic chemical compound that finds most of its applications as a raw material for the production of synthetic rubber, plastics, and other chemicals. Moreover, styrene-butadiene rubber (SBR) and polybutadiene rubber (PBR), which are both butadiene derivatives, are crucial to high-quality tires and other rubber products. With the tire industry expanding across the world due to increasing vehicle manufacturing and demand for long-lasting tires, butadiene continues to be in demand. Butadiene is utilized in the manufacture of major polymers and plastics such as acrylonitrile-butadiene-styrene (ABS), which is extensively used in the automotive, electronics, and consumer products industries. The increasing use of plastics in packaging, electronics, and consumer goods is fueling the use of butadiene. However, with the increasing demand for sustainable and bio-based materials, there is a transition, albeit slow, towards the utilization of alternative raw materials, such as bio-butadiene from renewable sources. This development has the potential to disrupt the conventional butadiene market, especially if the development of bio-based butadiene becomes more prevalent and market-favored.

The styrene-butadiene (SBR) segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.

Based on the application, the butadiene market is divided into polybutadiene (PBR), chloroprene, styrene-butadiene (SBR), nitrile rubber (acrylonitrile butadiene NBR), acrylonitrile butadiene styrene (ABS), adiponitrile and others. Among these, the styrene-butadiene (SBR) segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed due to SBR can be manufactured in a range of grades, providing flexibility in its uses beyond tires. It's also economical, which makes it a desirable choice for a variety of rubber products like footwear, gaskets, and hoses, which contributes to its market share.

The tire and rubber segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.

Based on the end user, the butadiene market is divided into plastic and polymer, tire and rubber, chemical, and others. Among these, the tire and rubber segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segmental growth is due to SBR and PBR, both of which are butadiene-based, provide superior mechanical properties, including abrasion resistance, thermal resistance, and durability, and are therefore suitable for tire sidewalls and treads. These features are necessary to ensure that tires have a longer lifespan and function optimally under adverse conditions, including high heat and extreme wear, and for this reason, they are a must-have for automotive production.

Asia Pacific is expected to hold the majority share of the global butadiene market during the forecast period.

Asia Pacific is expected to hold the majority share of the global butadiene market during the forecast period. The Asia-Pacific, and specifically China, the globe's largest auto producer, is driving demand for synthetic rubber to be utilized in tire production. Since tire production is the most significant end-user of butadiene, regional dominance in motor vehicle manufacturing dictates a high proportion of butadiene consumption.

North America is anticipated to grow at the fastest pace in the global butadiene market during the forecast period. North America has numerous innovations in green and sustainable technologies, including the creation of bio-based butadiene and other environmentally friendly chemicals, which are driving the expansion of the butadiene market in the region.

Major vendors in the global butadiene market are ExxonMobil Chemical Company, Royal Dutch Shell Plc., BASF SE, Sinopec, TPC Group Inc., Braskem S.A., LyondellBasell Industries N.V., ENI S.p.A., Ineos Group AG, China Petroleum & Chemical Corporation, Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In May 2024, Michelin, together with IFPEN and Axens, opened France's first industrial-scale pilot plant for the production of bio-based butadiene at its facility near Bordeaux. This is a major milestone towards sustainable production of butadiene.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the butadiene market based on the below-mentioned segments:

Global Butadiene Market, By Application

• Polybutadiene (PBR)
• Chloroprene
• Styrene-butadiene (SBR)
• Nitrile Rubber (Acrylonitrile Butadiene NBR)
• Acrylonitrile Butadiene Styrene (ABS)
• Adiponitrile
• Others

Global Butadiene Market, By End User

• Plastic and Polymer
• Tire and Rubber
• Chemical
• Others

Global Butadiene Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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