The butadiene market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 3.1% in the above-mentioned forecast period. The factors such as growing demand form end-use industries and improved functionality at lower cost and rising number of automobiles are the root cause fueling up the market growth rate. The factors expected to cushion the growth of the butadiene market in the forecast period are the diversity in the usage of butadiene in end-user industries and owing to its excellent elastic properties it is also used in the electrical industry, as an insulation solution for wires and cables which will further carve the way for the growth of market. Moreover, its usage in the manufacturing of tire treads for commercial and passenger vehicles, golf balls, footwear, industrial parts, automotive components, rubber isolators and casters, inner tubes of hoses for sandblasting, covers for pneumatic and water hoses, conveyor belts, shoe soles, and polystyrene modifier are further expected to cushion the overall markets growth. On the other hand, the factors such as decline in the production due to shale oil discoveries, harmful acute and chronic effect are expected to impede the growth of the butadiene market. The volatile raw material prices coupled with the stringent regulatory scenario are also projected to hamper market’s overall growth.
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Market Analysis and Insights
Butadiene is basically highly reactive colorless gas. It is one of the vital industrial compounds used for the production of synthetic rubber and plastic. The resultant rubber and plastic products are used by the automotive industries, for construction material, packaging, as a consumer product and protective clothing. They are used in various application such as polybutadiene, chloroprene, styrene-butadiene, nitrile rubber, SB latex, acrylonitrile butadiene styrene, adiponitrile, sulfolane, ethylidene norbornene and other applications.
The growing demand for nylon 66 resin in major end-use industries such as automotive and electronics and focus of manufacturers towards focus towards developing bio-based routes to manufacture 1,3 butadiene are estimated to generate numerous opportunities for the market. On the flip side, the recent downfall in the automotive industry is projected to pose as a major challenge to the growth of the butadiene market.
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Butadiene Market Scope
The butadiene market is segmented on the basis of product, end user and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of product, the butadiene market is segmented into butadiene rubber, styrene butadiene rubber, acrylonitrile butadiene rubber, nitrile butadiene rubber, styrene butadiene latex and hexamethylenediamine.
- Based on end user, the butadiene market is segmented into automobile industries, building and construction, consumer products industries, healthcare and others.
- Butadiene market is also segmented on the basis of application into polybutadiene, chloroprene, styrene-butadiene, nitrile rubber, SB latex, acrylonitrile butadiene styrene, adiponitrile, sulfolane, ethylidene norbornene and other applications.
Competitive Landscape and Butadiene Market Share Analysis
The butadiene market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to butadiene market.
Some of the major players operating in the Butadiene market are,
China Petroleum Corporation, Shell, Eni ., corporate.evonik, Ineos, LANXESS, LG Chem, LyondellBasell Industries Holdings B.V., PJSC "Nizhnekamskneftekhim"., Repsol, SABIC, Dow, TPC Group, Formosa Plastics Corporation, U.S.A., ZEON Corporation., China Petrochemical Corporation Borealis AG., and Versalis S.p.A., among others.
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