Global 1, 3 Butadiene Market is estimated to exhibit a CAGR of 9.75% during the forecast period of 2021-2028. The market is witnessing an upward trend due to the rising preference of butadiene in production of consumer products.
On the other hand, growing health concerns regarding the 1, 3 butadiene and renewable alternatives for the product are factors projected to obstruct the 1, 3 butadiene market growth. Fluctuation in the cost of raw materials for the production and maturity of 1, 3 butadiene are factors expected to challenge the market in the above mentioned forecast period.
According to Data Bridge Market Research, the 1, 3 butadiene market will exhibit a significant rise in its market value. The increase in adoption of 1, 3 butadiene in various end-use industries such as construction, automotive and healthcare is the key factor driving the 1, 3 butadiene market. The high demand of the product in the automotive industrial activities such as production of tires and other parts, increase in disposable income and consumer’s purchasing capabilities, growing population and change in lifestyles accelerate the 1, 3 butadiene market growth. Furthermore, the need to conserve resources and reduce fuel cost increases the demand of 1, 3 butadiene which extends profitable opportunities to the market players.
Currently, Asia-Pacific dominates the global 1, 3 butadiene market in terms of market share and market revenue owing to developing economies, implementation of favourable investment policies to promote industrial growth by the governments, increase in end-user industries such as automotive, consumer products and construction and increase in population in this region.
Now the question is which other regions are the global 1, 3 butadiene market is targeting? Data Bridge Market Research has estimated a large growth in North America owing to the rising growth and expansion of end user industries.
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The global 1,3 butadiene market is segmented on the basis of countries into U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Key Market Competitors Covered in the 1,3 Butadiene Market report
Above are the key players covered in the report, to know about more and exhaustive list of paraffins market companies contact us https://www.databridgemarketresearch.com/toc/?dbmr=global-1-3-butadiene-market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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Global 1, 3 Butadiene Market – Industry Trends and Forecast to 2027