Butadiene Market is Estimated to Witness High Growth Owing to Opportunity in Synthetic Rubber Production

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Butadiene Market is Estimated to Witness High Growth Owing to Opportunity in Synthetic Rubber Production
The global Butadiene Market is estimated to be valued at US$ 15681.17 Bn in 2023 and is expected to exhibit a CAGR of 28% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Butadiene is an important chemical feedstock used in the production of synthetic rubbers such as styrene-butadiene rubber and polybutadiene rubber. These synthetic rubbers find widespread applications in the automotive industry for manufacturing tires, rubber belts and hoses. Additionally, butadiene is also used to produce plastics and specialty chemicals. The demand for synthetic rubbers has been increasing at a significant pace owing to rising automotive sales and growing construction activities across the globe. The global butadiene market is estimated to be valued at US$ 15681.17 Bn in 2024 and is expected to exhibit a CAGR of 28% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

The rapid growth of the automotive industry has been a major factor propelling the demand for butadiene in synthetic rubber production. Synthetic rubbers such as styrene-butadiene rubber and polybutadiene rubber account for over 60% of the total rubber consumed in tire manufacturing. As automotive ownership increases in developing nations, substantial opportunities exist for butadiene producers to cater to the escalating rubber needs of prominent tire brands. Furthermore, growing infrastructure development projects across the world have augmented the consumption of construction materials like rubber hoses and conveyor belts that utilize butadiene-based rubbers.

Segment Analysis

The global butadiene market is dominated by the synthetic rubber sub-segment. Synthetic rubber accounts for over 60% of total butadiene consumption globally. Butadiene is a key raw material in the production of styrene-butadiene rubber and polybutadiene rubber. Both these synthetic rubbers find widespread application in the tire industry. As over 60% of synthetic rubber goes into tire manufacturing, this industry is the major end-user of butadiene.

 

Key Takeaways

The Global Butadiene Market Share is expected to witness high growth over the forecast period of 2024 to 2031. The market size is projected to reach US$ 15681.17 Bn by 2024, expanding at a CAGR of 28%.

 

Regional analysis: Asia Pacific accounts for the largest share of over 40% of the global butadiene market in 2024. The region is driven by strong demand from China, which is the largest producer and consumer of synthetic rubber globally. Other Asian countries such as India, Indonesia and Thailand are also emerging high growth markets for butadiene.

 

Key players related content comprises: Key players operating in the butadiene market are Thermo Fisher Scientific, Synbio Technologies, Merck KGaA, Agilent Technologies, Inc., GenScript, Amyris, Eurofins Genomics GmbH, Integrated DNA Technologies, Inc., Codexis, Inc., EnBiotix, Inc., Synthego, New England Biolabs (UK) Ltd., Scarab Genomics, LLC and Genomatica, Inc.


Get More Insights Here

https://www.newswirestats.com/butadiene-market-size-share-growth-outlook-2023/

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