Global Synthetic and Bio-based Butadiene Market, By Product Type (Synthetic Butadiene and Bio-based Butadiene), By Application (Butadiene Rubber, Styrene Butadiene Rubber, Acrylonitrile Butadiene Rubber, Nitrile Butadiene Rubber, Styrene Butadiene Latex, Adiponitrile and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights: Global Synthetic and Bio-based Butadiene Market
Data Bridge Market Research analyses that the synthetic and bio-based butadiene market will witness a CAGR of 9.00% for the forecast period of 2022-2029. Growth in the demand for synthetic and bio-based butadiene especially in the developing economies like India and China, growing use of synthetic and bio-based butadiene for a wide range of end user applications such as butadiene rubber, styrene butadiene rubber, acrylonitrile butadiene rubber and other end user applications, increasing investment by the government for research and development activities and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the synthetic and bio-based butadiene market. Therefore, the synthetic and bio-based butadiene market value, which was USD 4,100 million in 2020, would rocket up to USD 8,904.76 million by 2029.
Butadiene is a non-corrosive, colourless, highly reactive and aromatic gas that is used for the production of plastic and synthetic rubber. It is one of the most important industrial gases that can be condensed to liquid at a specific temperature. Butadiene can be produced from both bio-based sources and synthetic sources.
Rise in demand for synthetic and bio-based butadiene by the automotive industry in developed and developing economies is the root cause fuelling up the market growth rate. Rising application areas for synthetic and bio-based butadiene such as in the nitrile butadiene rubber, styrene butadiene latex, and others, increased awareness about the benefits of using ABS (acrylonitrile butadiene styrene) and growth and expansion of various end user industries especially in the developing economies will also directly and positively impact the growth rate of the market. Rising demand for bio-based butadiene owing to the rising environmental concerns, rising expenditure for research and development proficiencies by the major companies, upsurge in the rate of industrialization and growing focus on the technological advancements and modernization in the production techniques will further carve the way for the growth of the market.
However, insufficiency in raw material demand and supply owing to the lockdown and volatility in their prices will pose a major challenge to the growth of the market. High cost of bio-based butadiene and costs associated with research and development proficiencies, surging geopolitical issues, and strict global trade restrictions will dampen the market growth rate. Stringent regulations imposed by the government for using toxic synthetic butadiene and slowdown in the automotive industry as an effect of pandemic will also create difficulties for the market.
This synthetic and bio-based butadiene market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on synthetic and bio-based butadiene market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Synthetic and Bio-based Butadiene Market Scope and Market Size
The synthetic and bio-based butadiene market is segmented on the basis of product type 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 type, the synthetic and bio-based butadiene market is segmented into synthetic butadiene and bio-based butadiene.
- On the basis of application, the synthetic and bio-based butadiene market is segmented into butadiene rubber, styrene butadiene rubber, acrylonitrile butadiene rubber, nitrile butadiene rubber, styrene butadiene latex, adiponitrile and others.
Synthetic and Bio-based Butadiene Market Country Level Analysis
The synthetic and bio-based butadiene market is analysed and market size, volume information is provided by country, product type and application as referenced above.
The countries covered in the synthetic and bio-based butadiene market report are 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.
Asia-Pacific dominates the synthetic and bio-based butadiene market owing to the increase in the research and development activities, favourable investment policies by the government in order to promote industrial growth, high economic growth in the emerging countries, abundant availability of raw materials, surging urbanization and industrialization and growth and expansion of various end user industries are some are important driving factors for this region.
The country section of the synthetic and bio-based butadiene market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Synthetic and Bio-based Butadiene Market Share Analysis
The synthetic and bio-based 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 synthetic and bio-based butadiene market.
Some of the major players operating in the synthetic and bio-based butadiene market report are Versalis S.p.A., LANXESS, ZEON CORPORATION., KUMHO PETROCHEMICAL., Synthos., JSR Corporation., SIBUR International GmbH, ARLANXEO., OMNOVA Solutions Inc., TSRC, LG Chem., PetroChina Company Limited, AirBoss of America Corp., Atlantic Gasket Corporation, Precision Associates, Inc., Hanna Rubber Company, Dow, BASF SE, NANTEX Industry Co., Ltd., and Polimeri Europa among others.
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