Discover how the butadiene market is experiencing significant growth due to the rising demand for synthetic rubber in the tire industry

VANCOUVER, BC, CANADA, June 11, 2024 /EINPresswire.com/ -- The global butadiene market size was USD 10.74 billion in 2022 and is expected to register a rapid revenue CAGR of 9.4% during the forecast period. The global butadiene market is experiencing significant growth, fueled by the rising demand for synthetic rubber and its increasing adoption in the tire industry. Butadiene is a fundamental component in the production of synthetic rubber, which is essential for manufacturing tires. The rapid expansion of the tire industry, especially in developing countries, is a key driver of this demand. Butadiene's applications extend beyond tires to automotive parts, consumer goods, and various industrial products, further boosting market growth.

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Market Drivers

The demand for plastics, utilized across sectors such as packaging, construction, and electronics, is another crucial factor driving butadiene market revenue. Butadiene is a vital raw material for creating plastics like Acrylonitrile-Butadiene-Styrene (ABS), used in toys, appliances, and automotive parts. Additionally, butadiene is used in producing adhesives and sealants, which are widely employed in the construction and packaging industries.

A significant development in the butadiene market is Arlanxeo's announcement in May 2023 to build a rubber manufacturing facility in Jubail, Saudi Arabia. This plant, part of the USD11 billion Amiral complex by Saudi Aramco and Total Energies, will have an annual capacity of 140,000 metric tons and focus on producing ultra-high cis polybutadiene (NdBR) and Lithium Butadiene Rubber (LiBR).

Market Trends

A notable trend in the butadiene market is the shift towards lighter feedstocks like propane and butane, instead of heavier ones such as naphtha. This change is driven by the rising demand for flexible petrochemical feedstocks. Lighter feedstocks help producers mitigate exposure to volatile prices of naphtha and other heavier materials.

Market Restraints

The butadiene manufacturing process is highly polluting, posing significant environmental and health risks. This issue is a potential restraint on market growth, as governments worldwide impose stringent regulations on butadiene production to curb pollution.

Market Segment Insights

Product Insights

The global butadiene market is segmented by product type, including butadiene rubber, Styrene Butadiene Rubber (SBR), Acrylonitrile Butadiene Rubber (ABR), Nitrile Butadiene Rubber (NBR), styrene butadiene latex, and hexamethylenediamine.

The SBR segment dominated the market in 2022, driven by its use as a feedstock for producing polystyrene, ABS, and other technical plastics. The growing plastics industry and the demand for strong, lightweight materials from the packaging, construction, and automotive sectors are expected to further boost the need for butadiene. Moreover, butadiene's role in manufacturing drilling fluids and other chemicals for the oil and gas industry enhances its market significance.

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Production Process Insights

Based on production processes, the global butadiene market is segmented into extractive distillation and steam cracking.

The steam cracking segment is expected to register rapid growth during the forecast period due to technological advancements and the development of new catalysts, making steam cracking a viable and economically feasible method for large-scale butadiene production.

End-Use Insights

On the basis of end-use, the global butadiene market is segmented into automobile industries, chemicals, plastics and polymers, building and construction, healthcare, and others.

The automobile industry segment is anticipated to account for a significant revenue share during the forecast period. Butadiene is crucial for producing synthetic rubber used in manufacturing automobile tires. The rising demand for automobiles, particularly in developing economies like India, China, and Brazil, and the growing awareness of fuel-efficient vehicles, drive the need for high-performance tires made from butadiene-based synthetic rubber.

Butadiene Top Companies and Competitive Landscape

The global butadiene market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective butadiene products in the market.

CNPC

Shell

Borealis AG

Eni S.p.A.

Evonik Industries AG

INEOS

LANXESS

LG Chem

LyondellBasell Industries Holdings B.V.

SABIC

Dow

Repsol

Braskem

JSR Corporation

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Butadiene Latest Industry News

On 28 July 2022, Sinopec and INEOS Group will work together on three joint ventures to increase the production of petrochemicals to assist in satisfying the country’s burgeoning market demand.

On 8 June 2022, BASF expanded its line of Licity anode binders to produce Li-ion batteries. Licity 2698 X F, a second-generation SBR binder, makes using silicon contents above 20% possible. The device also offers a bigger capacity, more charge/discharge cycles, and quicker charging periods.

Butadiene Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global butadiene market on the basis of product, production process, end-use, and region:

Product Outlook (Revenue, USD Billion; 2019-2032)

Butadiene Rubber

Styrene Butadiene Rubber (SBR)

Acrylonitrile Butadiene Rubber (ABR)

Nitrile Butadiene Rubber (NBR)

Styrene Butadiene Latex

Hexamethylenediamine

Production Process Outlook (Revenue, USD Billion; 2019-2032)

Extractive Distillation

Stream Cracking

End-use Outlook (Revenue, USD Billion; 2019-2032)

Automobile Industries

Chemical, Plastics and Polymers

Building & Construction

Healthcare

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

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