by The butadiene market plays a vital role in the production of synthetic rubber. Butadiene is a colorless gas with a mild aromatic odor, which is widely used to manufacture rubbers such as styrene-butadiene rubber and polybutadiene rubber. These rubbers find extensive application in the automotive, construction, footwear and other industrial sectors. The growing demand for automotive and tires from the expanding automotive industry is propelling the butadiene market.
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.
Butadiene is majorly used to produce synthetic rubbers and plastics, which are further employed in various end-use industries like automotive, construction, healthcare, consumer goods etc. Properties like robustness, resistance to heat, abrasion and chemicals make synthetic rubbers and plastics highly useful.
Key Takeaways
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.
Key opportunities in the butadiene market include growing demand for tires from expanding automotive industry, rising usage of synthetic rubbers in footwear and healthcare sectors. The market is also witnessing growing demand from Asia Pacific region owing to surge in automotive sales and construction activities in China and India.
The Butadiene Market Size is witnessing expansion due to rising automotive production across Asia Pacific and Americas. Countries like China, USA, Germany, Japan and India are major contributors to the growing demand. Increasing government investments in infrastructure development and construction activities are further aiding market growth globally.
Market drivers
The primary driver boosting the butadiene market is rising application of synthetic rubbers in tire manufacturing. As the automotive sector expands steadily worldwide, demand for tires is surging which in turn is propelling the market. Thermoplastic elastomers produced using butadiene also observe rising usage in the footwear industry. Growing healthcare expenditures across developed nations are augmenting consumption of plastics and rubber based medical devices.
PEST Analysis
Political: The Butadiene Market is influenced by government regulations and policies regarding environmental protection and emissions standards. Stringent norms can impact production capacity and trade volumes.
Economic: Factors such as global economic growth, demand from end-use industries especially automotive and construction influence butadiene demand and prices. A recession may negatively impact consumption.
Social: Growing population and urbanization are leading to increased demand for housing, infrastructure and mobility. This augments the need for butadiene in applications like tires, appliances and pipes.
Technological: Process innovations to improve extraction yields from crude oil and natural gas can help lower manufacturing costs. Adoption of bio-based and recyclable polymers using butadiene as a feedstock promotes sustainable development.
The geographical region where the butadiene market in terms of value is most concentrated is Asia Pacific. Several emerging economies in the region have vigorous manufacturing sectors and massive infrastructure development programs spurring high consumption.
North America is expected to witness the fastest growth in the butadiene market over the forecast period. This can be attributed to expanding end-use industries, implementation of favorable policies promoting eco-friendly materials, and investments in research for discovering novel applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
