San Francisco, 21 November
2018: According to a report published by Grand View Research,
Inc.; the butadiene market is expected to reach a valuation of around USD 33.01 billion by
2020.
Increasing demand for tiers in
OEM as well as replacements due to growing automotive industry especially in
emerging countries can drive the market over the forecast period (2012 to
2020).
The product acts as a predecessor
to various processing materials and chemicals. Its key derivatives include
styrene butadiene rubber and acrylonitrile butadiene styrene (ABS), which are
extensively utilized in automotive industry in the making of tires and other
components. Additionally, growing use in the manufacturing of consumer products
is likely to support the market growth in the coming years.
However, product maturity along
with fluctuating raw material prices can restrain the market. Establishment of stringent regulatory policies
by regulatory authorities for maintaining safety standards in industries due to
rise in health concerns is also expected to have negative impact on the market.
Also, the industry is concentrating more on the development of bio-based
alternative to overcome this problem.
Worldwide butadiene market can
be segmented on the basis of application, and region.
Based on application, the
market can be bifurcated into butadiene rubber, acrylonitrile butadiene styrene
resins (ABS), styrene butadiene rubber (SBR), SB latex, nitrile butadiene
rubber (NBR), hexamethylenediamine (HMDA), and others.
Access
Research Report of 1,3
Butadiene (BD) Market@ www.grandviewresearch.com/industry-analysis/butadiene-market
In 2013, the butadiene rubber segment
was the leading segment and occupied 30.8% of the overall market. The segment
is mainly driven by the global tire industry as two third of butadiene rubbers
are utilized in tire manufacturing.
The hexamethylenediamine
(HMDA) segment is likely to display rapid growth at an estimated CAGR of 6.8%
during 2014 to 2020. Increasing demand for nylon 66 resin in main end-use
industries including electronics and automotive is anticipated to spur the
product demand in HMDA. Other segments are also expected to show considerable
demand.
The ABS as a terpolymer is utilized
for manufacturing lightweight electrical resistance products. The SBR is obtain
through polymerization of styrene and butadiene monomers. It is widely utilized
in rubber-based products and in adhesives and sealants as a modifier due to its
high strength, abrasion resistance, and viscosity. SB latex is a water-based
emulsion copolymer, which is made of styrene abd BD. It is utilized in coated
papers and carpet back coatings due to its high adhesive strength and elasticity.
NBR is widely accepted in automotive and
aeronautical industries for manufacturing oil handling hoses, grommets, and sealants.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Geographically, the market can
be divided into North America, Asia Pacific, Europe, and Rest of the World.
Asia Pacific is expected to be
the major regional market due to presence of countries such as China and India being
the key manufacturers and thriving automotive industry in these countries. Asia
Pacific estimated for over 56.6% of overall market volume. The region is projected
to grow at a CAGR of 5.5% from 2014 to 2020. Growth of end-use industries such
as automotive and consumer products and building and construction is expected
boost the market in this region.
The naphtha is considered as
the main petrochemical feedstock for the manufacture of BD. Though, development
of coal-based ammonia and methanol settings in Asia is anticipated to provide
other sources for the making of 1,3 butadiene.
Increasing demand for
elastomers in the tier and other downstream application is expected to fuel the
product demand in North America and Europe.
In 2013, North America appeared
as the second largest market and captured 23.6% of the overall volume. RoW is
also anticipated to exhibit significant growth due to growth in automotive, construction,
and other end-user industries in countries including Argentina, Brazil, and
South Africa. Latin America and Middle East are anticipated to expand at a CAGR
of 8% during 2014 to 2020 due to booming end-use industries including automotive
and construction.
Some of the leading companies operating
in the market include TPC Group Inc.; Royal Dutch Shell Plc.;
Nizhnekamskneftekhim OAO; LyondellBasell Industries N.V.; and ExxonMobil
Chemical Company.
Access
Press Release of 1,3 Butadiene (BD) Market@ www.grandviewresearch.com/press-release/global-butadiene-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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