Butadiene Global Market 2024 To Reach $29.48 Billion By 2028 At Rate Of 18.5%

The Business Research Company's Butadiene Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 16, 2024 /EINPresswire.com/ -- The butadiene market has experienced robust growth in recent years, expanding from $12.41 billion in 2023 to $14.95 billion in 2024 at a compound annual growth rate (CAGR) of 20.4%. The growth in the historic period can be attributed to automotive industry demand, petrochemical industry expansion, economic cycles, consumer electronics boom, oil and gas prices.

Strong Future Growth Anticipated
The butadiene market is projected to continue its strong growth, reaching $29.48 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to renewable feedstocks, electric vehicle expansion, circular economy initiatives, focus on lightweight materials, healthcare sector expansion. Major trends in the forecast period include supply chain localization, market consolidation and partnerships, rise of smart materials, adoption of advanced manufacturing techniques, resilience planning, customization and tailored solutions.

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Growth Driver Of The Butadiene Market
The expansion of the automotive industry is expected to boost the butadiene market. The automotive industry is the sector involved in designing, developing, manufacturing, selling, and maintaining automotive vehicles. Butadiene-based materials provide excellent durability, flexibility, and resistance to heat, chemicals, and mechanical stress, making them ideal for automotive applications such as seals, gaskets, hoses, belts, and under-the-hood components.

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Major Players And Market Trends
Key players in the butadiene market include Exxon Mobil Corporation, China Petroleum & Chemical Corporation, Shell plc., Eni S.p.A., Reliance Industries Limited, BASF SE, Repsol S.A., The Dow Chemical Company, Saudi Arabia's Basic Industries Corporation, Lyondellbasell Industries Holdings B.V., LG Chem Ltd., Ineos Group AG, INEOS Group Ltd., China National Petroleum Corporation, Evonik Industries AG, Borealis AG, Lanxess AG, Formosa Plastics Corporation, Zeon Corporation, Nova Chemicals Corporation, JSR Corporation, Lotte Chemical Titan Holding Berhad, Nizhnekamskneftekhim, TPC Group, Mallard Creek Polymers Inc., AirBoss Rubber Solutions.

Major companies operating in the butadiene market are focusing on innovative products such as expanded polystyrene (EPS) to drive revenues in their market. Post-consumer recycled (PCR) content in EPS contributes to sustainability efforts by reducing the demand for new raw materials, conserving resources, and diverting plastic waste from landfills.

Segments:
1) By Product: Polybutadiene (PBR), Styrene-Butadiene (SBR), Chloroprene, Nitrile Rubber, Acronitrile Butadiene Styrene (ABS), Adiponitrile, Sulfonale, Ethylidene Norbornene, Styrene Butadiene Latex, Other Products
2) By Production Process: C4 Hydrocarbon Extraction, N-Butane Dehydrogenation, From Ethanol, From Butenes
3) By Sales Channel: Direct Sale, Indirect Sale
4) By End-User Industry: Plastic And Polymer, Tire And Rubber, Chemical, Other End-User Industries

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the butadiene market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of butadiene.

Butadiene Market Definition
Butadiene, obtained from petroleum, refers to the colorless and highly flammable gaseous open-chain hydrocarbon C4H6 that is used in making synthetic rubbers. It belongs to a class of organic compounds called dienes, which are hydrocarbons that contain two carbon-carbon double bonds. Butadiene is a highly reactive and versatile compound used primarily as a monomer, a molecule that can join together to form a polymer to produce synthetic rubbers.

Butadiene Global Market Report 2024 from THE BUSINESS RESEARCH COMPANY covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Butadiene Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on butadiene market size, butadiene market drivers and trends, butadiene market major players, butadiene competitors' revenues, butadiene market positioning, and butadiene market growth across geographies. The butadiene market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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