New York, March 25, 2020 (GLOBE NEWSWIRE) -- The global Butadiene market is forecast to reach USD 23.49 Billion by 2027, according to a new report by Reports and Data. Global Butadiene market is expected to grow due to the ever-growing automotive industry. It is a colorless organic compound with an aromatic gasoline-like odor.
Butadiene is produced as a byproduct of ethylene steam cracking of naptha feedstock. It is also used as a chemical intermediate and as a monomer for the manufacture of plastics and rubber and is applicable in several consumer and industrial products, such as construction, automobile, electronics, packaging, protective clothing, and appliance parts.
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The growing interest of the green tires that are manufactured from synthetic rubber is derived from bio-butadiene. A major share of bio-butadiene is consumed in the production of synthetic rubber and coatings that are used in the manufacture of automotive accessories and tires. Factors such as increasing use of rubber substitutes, like guayule or rice husk, and manufacture of new version of rubber are hindering the market growth.
Asia Pacific held half the market share. This is due to the significant advancement done by the emerging countries. China has achieved new milestones in the exploration of shale gas, both in drilling techniques and capacity, making it one of the top shale gas suppliers globally. India is also working in developing shale gas exploration with the help of the U.S. The country has recoverable shale gas reserves and is expected to have a capacity of 96 trillion cubic feet, in Andhra Pradesh, Tamil Nadu, and Rajasthan.
Further key findings from the report suggest
- Acrylonitrile butadiene styrene (ABS) is a sturdy engineering thermoplastic and amorphous polymer that is used in the production of lightweight, rigid, and molded products which are used in a diverse set of end-use applications.
- ABS is usually used to manufacture protective housing for power tools and plastic face guards for a wall socket. It is also commonly used in the automotive industry for manufacturing of items including plastic alloys and decorative interior car parts. In the construction industry, this polymer finds application in the production of plastic tubing and corrugated plastic structures.
- In developed regions such as Japan, the United States, and Western Europe, butadiene is produced as a byproduct of the steam cracking process used to manufacture ethylene and other alkenes. The amount of butadiene produced in C4 hydrocarbon extraction process depends on the hydrocarbons used as feed. Ethane, a light feed, give ethylene when cracked, but heavier feeds produced heavier butadiene.
- Asia Pacific has the highest growth rate during the study, and it is expected that it would dominate the growth-share. Credit for this goes to the rapid development of the economies. China has invested heavily in research and development and in the expansion of production capacity. Growing automotive industry in Indonesia and Thailand, along with increasing construction activities mainly in India, China, and Indonesia, is anticipated to create growth opportunities in the region.
- Key participants BASF SE, Reliance Industries Limited, Braskem, ExxonMobil Chemical Company, Royal Dutch Shell Plc., TPC Group Inc., Sinopec, LyondellBasell Industries N.V., Jiutai Energy Inner Mongolia Co. Ltd., and Lanxess among others.
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For the purpose of this report, Reports and Data have segmented into the global Butadiene market on the basis of production process, product, end-user, and region:
Production Process Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- C4 hydrocarbon extraction
- n-butane dehydrogenation
- From ethanol
- From butenes
Product Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- Styrene-Butadiene Rubber
- Styrene Butadiene Latex
- Butadiene Rubber
- Acrylonitrile Butadiene Rubber
- Nitrile Butadiene Rubber
- Hexamethylenediamine
End-User Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- Building and Construction
- Healthcare
- Automobile Industries
- Consumer Products Industries
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/butadiene-market
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