According to the report, the Butadiene market is expected to grow from USD 17,578 million in 2019 to USD 19,412 million by 2026, growing at a CAGR of 3.40% from 2019 to 2026.
Market Overview
The global Butadiene market is estimated to be USD 17,578 million in 2019 and is expected to reach USD 19,412million by 2026, with a CAGR of 3.40% during the forecast period.
With the recovery of the global economy and the development of emerging powers, the Butadiene market is endowed with a promising future. The market of the automotive industry around the globe is growing and will drive the demand for butadiene.
Butadiene, an organic compound, is obtained as a by-product during the production of ethylene and propylene. Conventionally, butadiene was produced through steam cracking of naphtha followed by extractive distillation. Dehydrogenation of butane or ethanol is also one of the processes used for producing butadiene. On account of the high cost involved in producing butadiene by conventional methods and recent discoveries shale gas, especially in the United States, producers are shifting to using lighter feedstock, such as ethane and propane, for producing butadiene. Synthetic rubber industry is the largest consumer of butadiene, wherein it is processed for producing derivatives such as Styrene Butadiene Rubber (SBR), Polybutadiene Rubber (PBR), Acrylonitrile Butadiene Styrene Resins (ABS), Styrene Butadiene Latex (SB Latex), Adiponitrile, and Nitrile Rubber (NR). These derivatives are majorly used across the automotive sector for manufacturing tires and other components.
Get FREE Sample of Butadiene Market Report at:
https://www.globalmarketmonitor.com/reports/154138-butadiene-market-report-2018.html#download-sample
Competitive Insights
Key players operating in this market include Sinopec, TPC Group, Braskem, Shell Chemical, CNPC, FPCC, BASF, ExxonMobil, JSR Corp, Lotte, LyondellBasell, Ineos O&P, LG Chem, Sabina, and Evonik.
Regional Insights
The top three markets (Asia Pacific, North America, Europe) accounted for 91.70% of total sales. The Asia Pacific is the global market leader at a share of 44.75%. North America is currently leading Europe with a share of 26.33% and 20.62%.
China and South Korea are the biggest consumers of butadiene in the region while India and China are expected to be the fastest growing markets of butadiene. A few of the reasons for the high-level growth in this region are growing population, vast economies–developed, and favorable investment policies and government initiatives to promote industrial growth. The budding nature of the economies and rising consumption trends for various materials such as synthetic rubbers and ABS resin drives the demand of butadiene at a significant pace in the region.
Purchase a copy of Butadiene report at:
https://www.globalmarketmonitor.com/reports/154138-butadiene-market-report-2018.html#download-sample
Based on the type, the Butadiene can be segmented into Extractive distillation and Oxidative dehydrogenation.
Application Insights
Based on application, the Butadiene market is divided into Styrene Butadiene Latex (SBL), Butadiene Rubber (BR), Styrene Butadiene Rubber (SBR), and others.
Tire and Rubber Industry is anticipated to dominate the market during the forecast period.
https://www.globalmarketmonitor.com/reports/154138-butadiene-market-report-2018.html#download-sample
Audience
l Butadiene manufacturers
l Distributors and resellers of Butadiene
l Butadiene industry associations
l Product managers, Butadiene industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
We provide more professional and intelligent market reports to complement your business decisions.
Chinese