Research Nester published a report titled “1 3 Butadiene Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global 1 3 butadiene market in terms of market segmentation by type, product, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The global 1 3 butadiene market is anticipated to grow with a CAGR of ~6% during the forecast period, i.e., 2023-2033. The market is segmented by product into butadiene rubber, styrene butadiene rubber, acrylonitrile butadiene rubber, nitrile butadiene rubber, SB latex, hexamethylenediamine, and others. Out of these, the styrene butadiene rubber (SBR) segment is anticipated to garner the largest revenue by the end of 2033 backed by the rising exports of SBR. For instance, international trade in styrene butadiene rubber reached USD 6,515,185 thousands in 2021, up from USD 4,508,649 thousands 2020.
The global 1 3 butadiene market is estimated to garner revenue of ~USD 7,600 million by the end of 2033, up from revenue of ~USD 2,500 million in the year 2022 owing to the growing motor vehicle production globally. A report by OICA states that the total number of motor vehicles produced worldwide rose from 58374162 units in 2000 to 91786861 units in 2019. Moreover, the rapid growth in end use industries including automobile, construction, and healthcare coupled with increasing exports of butadiene rubber worldwide are some of the major factors anticipated to drive the growth of the market during the forecast period.
Geographically, the global 1 3 butadiene market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific is projected to garner the largest revenue by the end of 2033 owing to the rising rubber tyre manufacturing. increasing production and trade of tyre rubber. In 2021, ITC data showed that tyre rubber exports to China amounted to USD 24,765 thousand, up from USD 22,490 thousand in 2020. In addition, the growing R&D investments, high vehicle production, along with the escalating construction and automobile industry are expected to drive the regional market during the forecast period.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Automotive Sector Expansion Worldwide to Drive the Market Growth
The Indian passenger car market accounted for USD 31 billion in 2021 and is anticipated to reach USD 53 billion by 2027, growing at a CAGR of over 9% between 2022 and 2027027.
SBR is mostly used in the production of tires in combination with natural rubber, while 1,3-butadiene is used in the production of synthetic rubber. Growth in the automotive sector and the increasing use of 1,3 butadiene in rubber tyres and other automotive components is expected to drive market growth over the forecast period.
However, higher cost associated with raw materials is expected to operate as key restraint to the growth of global 1 3 butadiene market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global 1 3 butadiene market which includes company profiling of BASF S.E., Braskem S.A, Exxon Mobil Chemical Company, S&P Global Inc., Lyondell Basell Industry N.V.
Royal Dutch Shell PLC., DYNASOL Group, TPC Group Incorporation, Nizhnekamskneftekhim O.A.O, Lanxess A.G. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global 1 3 butadiene market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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