Global Butadiene Market: Overview
Butadiene is also known as 1,3-butadiene. It is colorless and highly reactive in nature. In addition, it possesses noncorrosive and mild aromatic order at room temperature and pressure. It can be produced as a by-product manufactured from the propylene and ethylene manufacturing units, primarily as a monomer for the production of plastics and synthetic rubbers. It can also be used as chemical intermediate if utilized in small quantities. The resulting rubbers formed are used in various applications such as protective clothing, automobiles, household articles, computers & telecommunication equipment, construction materials, packaging, and appliance parts. Butadiene-based polymers provide safety at lower costs, improved functionality, and performance. Derivatives of butadiene consist of styrene butadiene latex, styrene-butadiene rubber, nitrile rubber, acrylonitrile butadiene styrene resins, polybutadiene rubber, adiponitrile, and others.
Global Butadiene Market: Growth Factors
Increasing use of polymers and synthetic rubbers in numerous end-use industries may drive the global butadiene market growth. However, carcinogenic nature of butadiene, strict regulations imposed by the government for the use of butadiene, and different acute & chronic harms caused by its fumes may hinder the global market to some extent.
Global Butadiene Market: Segmentation
The global butadiene market is classified based on applications as adiponitrile, ABS, SBR, NR, SB latex, PBR, and others. Of these, SBR is the leading segment in the global market due to its high consumption from the manufacturers across the world, which is followed by the polybutadiene. Geographic breakdown of the global market is given by North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Global Butadiene Market: Regional Analysis
Asia-Pacific is the largest market for butadiene and its derivatives. Additionally, China is the major consumer of the chemicals. Other developing countries such as India & China contributed to high growth of the global market due to favorable investment policies by the government in order to promote industrial growth, increase in population, and developing economies. The U.S. contributed for the largest market share owing to high growth opportunities in this region. Increasing demand for the butadiene derivatives is witnessed from China as many manufacturing industries are integrated with the butadiene facilities. This is expected to foster the global market growth in future. Hence, many market players rely on the supply of butadiene from the domestic Chinese market. Changing preferences in feedstock for manufacturing ethylene also drives the global butadiene market in this region. Moreover, low operating rates of ethylene crackers as compared to butadiene especially in the U.S may enhance the global market growth in the coming future. Hence, Chinese and U.S. markets may emerge as attractive markets for many players globally.
Global Butadiene Market: Competitive Players
Major players operating in the global butadiene market are ExxonMobil Chemical Company, Royal Dutch Shell Plc., BASF SE, Sinopec, TPC Group Inc., Braskem S.A., LyondellBasell Industries N.V., and ENI S.p.A. Other players include Ineos Group AG, China Petroleum & Chemical Corporation, Formosa Plastics Group, Evonik Industries AG, Lanxess AG, and JSR Corporation.
Global Butadiene Market: Regional Segment Analysis
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