Butadiene Market is Estimated To Witness High Growth Owing To Increasing Demand for Butadiene Based Synthetic Rubber

Butadiene Market
Butadiene Market

The Butadiene Market is estimated to be valued at USD 12682.54 Kilo MT in 2022 and is expected to exhibit a CAGR of 3.6% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:


Butadiene is an important organic chemical used mainly to produce synthetic rubber. The key applications of butadiene include styrene-butadiene rubber, acrylonitrile butadiene styrene and polybutadiene rubber. Butadiene-based synthetic rubbers exhibit high tensile strength, elasticity and resistance to heat and abrasion. These properties make the synthetic rubbers derived from butadiene suitable for use in various industries like automotive, footwear and construction.

Market key trends:

Increasing demand for butadiene based synthetic rubber from the automotive industry is a major trend driving the butadiene market. Butadiene-based elastomers like styrene butadiene rubber and polybutadiene rubber are extensively used in the manufacture of tires, hoses, belts and other components in vehicles. According to International Organization of Motor Vehicle Manufacturers, global production of passenger and commercial vehicles was around 79 million units in 2019. Growing vehicle fleet around the world is positively impacting consumption of butadiene-based rubbers. Furthermore, the use of butadiene in applications such as footwear, construction seals and adhesives is also fueling market growth.

Porter’s Analysis


Threat of new entrants: New players entering the butadiene market face high capital investment barriers as this is a capital intensive industry to build facilities for butadiene production. Bargaining power of buyers: Individual buyers of butadiene have low bargaining power due to presence of many established players however buyers in concentrated industries can negotiate prices. Bargaining power of suppliers: Suppliers of raw materials like ethanol and naphtha used for butadiene production have moderate bargaining power over producers as shifting costs affect profits. Threat of new substitutes: Substitutes like natural rubber and acrylonitrile-butadiene styrene plastics pose minimal threat currently to butadiene demand. Competitive rivalry: Intense competition exists among key established players to gain market share through expansion and product differentiation.

SWOT Analysis


Strength: Butadiene has diverse applications in synthetic rubber manufacturing for automobile tires accounting for over 60% demand. Weakness: Volatility in raw material prices affects production costs and profit margins. Opportunities: Growth in automobile industry in Asia Pacific drives demand for tires and rubber boosting butadiene consumption. Threats: stringent environmental regulations on VOC emissions during production pose compliance challenges.

Key Takeaways


The global Butadiene Market size is expected to reach USD 19,724.32 million by 2030, expanding at a CAGR of 3.6% during the forecast period. The market has been growing steadily supported by increasing consumption of synthetic rubber in automobile tire manufacturing. Asia Pacific dominates the global butadiene market, accounting for over 50% of the total demand led by China, India and other developing nations. Rapid growth of the automobile industry in Asia Pacific propels butadiene consumption for tire manufacturing. Key regional markets include North America and Europe where synthetic rubber demand is derived from tire and automotive component manufacturing industries.

Key players operating in the butadiene market are BASF SE, Braskem, China Petroleum & Chemical Corporation, Dow, Evonik Industries AG, Exxon Mobil Corporation, Formosa Plastics Corporation, INEOS, JSR, Corporation, LG Chem, LOTTE CHEMICAL TITAN HOLDING BERHAD, LyondellBasell Industries Holdings BV, Reliance Industries Limited., Repsol, Royal Dutch Shell Plc, SABIC, TPC Group, and China National Petroleum Corporation.

Read More :https://www.newswirestats.com/the-growing-applications-of-butadiene-offers-promising-growth-prospects/

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