Butadiene Market Size Worth USD 26.25 Billion in 2032 | Emergen Research

Vancouver, Dec. 27, 2023 (GLOBE NEWSWIRE) -- 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. Key drivers include the escalating demand for synthetic rubber, particularly in tire production, and the widespread adoption of butadiene across various industries. The tire sector, experiencing remarkable growth in developing countries, remains a primary contributor to the increasing need for butadiene in applications spanning tire manufacturing, automotive components, consumer goods, and industrial products.

The surge in plastics demand, prevalent in packaging, construction, and electronics, is a pivotal factor propelling market growth. Butadiene, a vital raw material, is instrumental in producing plastics like Acrylonitrile-Butadiene-Styrene (ABS), essential for manufacturing toys, appliances, and automotive parts.

Additionally, butadiene finds applications in adhesives, sealants, and the oilfield chemicals sector. A notable trend in recent years is the industry's shift towards lighter feedstock’s such as propane and butane, deviating from heavier alternatives like naphtha. This shift is driven by the desire to mitigate exposure to volatile prices associated with heavier feedstock’s. However, challenges arise from the environmental impact of the butadiene manufacturing process, acknowledged for its substantial air and water pollution. Stringent governmental regulations worldwide further pose potential constraints on market revenue growth.

The Styrene Butadiene Rubber (SBR) segment dominated the global butadiene market in 2022, attributing its success to the growing utilization of SBR as a feedstock in the production of polystyrene, ABS, and other technical plastics. The expanding plastics industry, driven by demand for robust, lightweight materials in packaging, construction, and automotive sectors, is expected to sustain the need for butadiene.

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The stream cracking segment is anticipated to witness robust revenue growth, supported by technological advancements and the development of new catalysts. These factors have rendered stream cracking a viable and economically feasible method for large-scale butadiene production. The automobile industry is poised to hold a substantial share in the global butadiene market during the forecast period. The pivotal role of butadiene in synthetic rubber, a key component in tire manufacturing, aligns with the growing demand for automobiles, particularly in developing economies like India, China, and Brazil. Additionally, the pursuit of fuel-efficient vehicles has spurred the development of high-performance tires that rely on butadiene-based synthetic rubber.

Asia Pacific: The region accounted for the largest revenue share in 2022, driven by increasing demand for acrylics and styrene-butadiene dispersions. Investments in capacity expansion, such as BASF's announcement in Indonesia, align with the rising trend of high-quality packaging in the ASEAN region.

Europe: The second-largest revenue share in 2022 can be attributed to the rising use of butadiene in manufacturing various auto parts, boosted by increasing automobile exports, particularly in Germany. The growth in global automobile production has further fueled demand for tires and rubber products.

North America: The region secured the third-largest revenue share in 2022, primarily due to the growing demand for synthetic rubber in tire and industrial synthetic rubber product manufacturing. Rapid expansion in the construction and automotive sectors, coupled with investments in infrastructure development, is expected to drive market growth. The global butadiene market is on a trajectory of robust growth, fueled by the tire and plastics industries' increasing demands. However, challenges related to environmental impact and regulatory constraints necessitate a balance between market expansion and sustainable practices.

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Scope of Research

Major 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.
Some of the major companies included in the global butadiene market report are:

• 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

Strategic Development

• 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.

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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
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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