Global Butadiene Market Analysis by Application, End-user Industry, and Geography - Forecast to 2024 - ResearchAndMarkets.com

The "Global
Butadiene Market - Segmented by Application, End-user Industry, and
Geography Growth, Trends, and Forecast (2019 - 2024)" report
has been added to ResearchAndMarkets.com's offering.

The global butadiene market (henceforth referred to as the market
studied) is expected to reach 12,347.03 kilo metric ton in 2018. It is
estimated to reach 15,357.81 kilo tons by 2023, at estimated CAGRs of
4.46% over the forecast period of 2018-2023 (henceforth referred to as
the forecast period).

Rapidly Increasing Automotive Production Creating a Demand for
Butadiene Rubber

The 1,3 butadiene is highly used in the manufacturing of synthetic
rubbers or elastomers. Different types of polymers and monomers can be
produced using 1,3 butadiene, such as styrene-butadiene rubber, nitrile
rubber, polychloroprene, and polybutadiene rubber. Thus, it has a high
demand from the automotive industry. ABS is majorly used for the
production of automotive components, such as wheel covers, dashboard
trims, and bumpers.

Moreover, it offers added advantages to the manufacturers, such as a
shiny and impervious surface, and the butadiene part, which is a rubbery
substance, provides resilience even at low temperatures and is
impact-resistant, tough, and heat-resistant. Additionally, the growing
demand for lightweight vehicles, globally, is expected to boost the
automotive production, thus, driving the demand for butadiene during the
forecast period.

Moreover, the popularity associated with electric vehicles is mainly due
to the eco-friendly nature of the product, when compared to its
conventional counterpart. The graph affixed on the right clearly
indicates the exponential growth experienced by the market. Further, the
market is expected to reach sales of over 1.9 million units in 2018,
recording an expected increase of 48% during the same year. With the
rapid increase in automotive production in the past few years, the
demand for butadiene has witnessed a quick surge.

Tire & Rubber Industry to Dominate the Market

Butadiene is majorly used in the manufacturing of synthetic rubbers and
elastomers that include polybutadiene rubber (PBR), styrene-butadiene
rubber (SBR), nitrile rubber (NR), and polychloroprene (Neoprene).
These, in turn, are used in the production of other goods and materials.
Plastics that are made using butadiene-based rubber mainly consist of
acrylonitrile-butadiene-styrene (ABS) resin, which has numerous
applications.

Polybutadiene is largely used in the manufacturing of automobile tires.
It has been estimated that the manufacturing process of tires consumes
about 70% of the world production of polybutadiene. It is primarily used
as a sidewall in tires to improve fatigue caused by continuous flexing
during the run. Beside this, butadiene also finds various applications
in other automobile parts.

Lately, volatility in raw material prices has affected the tire and
rubber industry. Tire manufacturers have reported modest increases in
raw material (including ABS) expenditure in 2017 and have stated that
there had been an increase in the price by 4.1%, since the fourth
quarter of 2016. Using butadiene in the production of rubber gives it a
low rolling resistance and a high resistance to wear. This provides the
tires a long life and low fuel consumption rate.

Asia-Pacific to Dominate the Market

Asia-Pacific is projected to dominate the butadiene market globally
during the forecast period, owing to the projected increase in the
automotive production and the growth of the plastics industry in the
region. Being the world's largest producer of vehicles and manufacturing
economy, China is expected to dominate the butadiene market in
Asia-Pacific.

Currently, China's automotive industry is majorly focusing on increasing
the production and sale of electric vehicles in the country. China is by
far the largest automotive manufacturer in the world since 2009, with
the current share of production of over 29%. In 2017, the Chinese
automotive industry recorded a growth of 3.19% and reached a total of
29,015,434 vehicles.

Additionally, the country's gradual focus on shifting to electric
vehicles is expected to drive the country's demand for butadiene. As per
China's Ministry of Industry and Information Technology, the country's
agenda is to ban all the internal combustion engines (ICEs) from the
roads in the coming years.

Mr.Xin Guobin, the Vice Minister for Industry and Information
Technology, proposed initial targets that vehicles with electric engines
may account for 8% of new car sales in 2018, 12% in 2020, and 20% by
2025. With such a rise in electric vehicle production and sale, the
application of butadiene products is expected to increase during the
forecast period, further boosting the demand for butadiene market.

Key Developments

• March 2018: Kuraray Co., Ltd, PTT Global Chemical, and Sumitomo Corp.
  have signed an agreement to establish a joint venture company focused
  on the progression of a feasibility study for the manufacturing and
  sales of butadiene derivatives in Thailand.

The major players include: BASF, China Petroleum &
Chemical Corporation, ExxonMobil Chemical Company, LyondellBasell
Industries, Saudi Basic Industries Corporation (SABIC), and DowDuPont,
among others.

Key Topics Covered

1. Introduction

1.1 Research Phases

1.2 Study Assumptions

1.3 Study Deliverables

1.4 Scope of the Report

2. Executive Summary

3. Market Insights

3.1 Industry Value-Chain Analysis

3.2 Industry Attractiveness - Porter's Five Forces Analysis

3.3 Feedstock Analysis

3.3.1 Global Capacity, by Key Feedstock

3.3.2 Trends

3.4 Technological Snapshot

3.4.1 Production Process

3.4.2 Technology Licensing and Patent Analysis

3.5 Supply Scenario

3.5.1 Capacity and Production Analysis

3.5.2 Major Plants and Locations (Installed Capacities)

4. Market Dynamics

4.1 Drivers

4.1.1 Rapidly Increasing Automotive Production Creating a Demand for
Butadiene Rubber

4.1.2 Developing Downstream Market in Asia-Pacific

4.2 Restraints

4.2.1 Hazardous Effects Caused by Butadiene

4.3 Opportunities

4.3.1 Innovation of Bio-butadiene

5. Market Segmentation and Analysis (Market Size, Share and
Forecast)

5.1 By Application

5.1.1 Polybutadiene (PBR)

5.1.2 Chloroprene

5.1.3 Styrene-Butadiene (SBR)

5.1.4 Nitrile Rubber (Acrylonitrile Butadiene NBR)

5.1.5 Acrylonitrile Butadiene Styrene (ABS)

5.1.6 Adiponitrile

5.1.7 Sulfolane

5.1.8 Ethylidene Norbornene

5.1.9 Styrene Butadiene Latex

5.1.10 Other Applications

5.2 By End-User Industry

5.2.1 Plastic and Polymer

5.2.2 Tire and Rubber

5.2.3 Automobile

5.2.4 Chemical

5.2.5 Other End-user Industries

6. Regional Market Analysis (Market Size, Share and Forecast)

6.1 Asia-Pacific

6.2 North America

6.3 Europe

6.4 South America

6.5 Middle East & Africa

7. Future of the Market

8. Competitive Landscape

8.1 Mergers and Acquisitions, Joint Ventures, Collaborations and
Agreements

8.2 Market Share Analysis

8.3 Strategies Adopted by Leading Players

9. Company Profiles (Overview, Financials, Products & Services
and Recent Developments)

9.1 BASF SE

9.2 Braskem S.A.

9.3 China Petroleum & Chemical Corporation (Sinopec)

9.4 Evonik Industries AG

9.5 Exxonmobil Chemical Company

9.6 Formosa Plastics Group

9.7 Ineos Group AG

9.8 JSR Corporation

9.9 Lanxess AG

9.10 LG Chem Limited

9.11 Lyondellbasell Industries N.V.

9.12 Reliance Industries Limited

9.13 Repsol S.A.

9.14 Royal Dutch Shell PLC

9.15 Saudi Basic Industries Corporation (SABIC)

9.16 TPC Group

9.17 Lotte Chemical Titan Holding Berhad

9.18 DowDuPont Inc.

For more information about this report visit https://www.researchandmarkets.com/r/r8u24t

View source version on businesswire.com: https://www.businesswire.com/news/home/20190328005831/en/