Synthetic & Bio-based Butadiene Market

Synthetic & Bio-based Butadiene Market size was
more than USD 16.5 billion in from 2017 to 2024:
Global Market Insights Inc.
The Biomass industry report “Synthetic & Bio-based Butadiene Market Size By Product
(Synthetic, Bio-based), By Application (SB Rubber, Butadiene Rubber, SB Latex, ABS,
Adiponitrile), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK,
France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico,
South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast,
2017 – 2024”, by Global Market Insights, Inc. says Synthetic & Bio-based Butadiene
Market size was more than USD 16.5 billion in 2016 and will witness 5% growth over the
projected timespan.
Escalating tire and automotive industry across the globe is the major factor which is likely to
stimulate the synthetic & bio-based butadiene market size by 2024. The rise in automotive
industry is expected to drive product demand in automotive related industries including raw
material for body parts, tires and other accessories which will subsequently boost synthetic
& bio-based butadiene market size by 2024. SB rubber (E-SBR and S-SBR) and butadiene
rubber are the major raw materials used in the production of tires across automotive
industry as they possess various advantages including better grip and low rolling resistance
which provides improved fuel economy and reduced carbon dioxide emissions.
In terms of volume, global tire market is accounted for over 2.5 billion units in 2016 and is
expected to reach approximately 3.90 billion units by 2024 attaining a CAGR of over 4%
during the forecast period. In addition, the overall vehicle production in 2016 was
approximately 90 million units. These factors will subsequently boost the synthetic & biobased
butadiene market as automotive and tire industry accounts for approximately more
than half of the overall share in the industry.
Rising demand for ABS (Acrylonitrile Butadiene Styrene) which has wide range of
applications in automotive sector to produce automotive parts including sliding roof
supports, air conditioning grates, etc. due to various advantages such as high impact &
chemical resistance, heat stability, rigidity, and processing ease, makes it desirable in
manufacturing automotive parts. Volatile raw material prices are likely to hamper the
synthetic & bio-based butadiene market size, as these raw materials are petrochemical
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derivative. In addition, stringent government regulations for using toxic synthetic butadiene
is expected to hinder the synthetic & bio-based butadiene market size by 2024.
U.S. Synthetic & Bio-Based Butadiene Market size, by application, 2013 - 2024 (USD
Billion)
Browse key industry insights spread across 132 pages with 143 market data tables & 13
figures & charts from this 2017 report Synthetic & Bio-based Butadiene Market in detail
along with the table of contents at:
https://www.gminsights.com/industry-analysis/synthetic-and-bio-based-butadiene-market
Synthetic & bio-based butadiene market size was fragmented in 2016 with major industry
share contributors accounting for less than 30% of the overall share. Key companies in the
business are BASF SE, Eni S.p.A, Evonik Industries AG, Exxon Mobil, INEOS Group,
LyondellBasell Industries N.V., Royal Dutch Shell Plc, The Dow Chemical Company, PCS,
Repsol, SABIC, TPC Group and Yeochun NCC.
Major product manufacturers are in the long-term procurement contract with the end-user
industries such as automobile, construction, etc. as the industry requires bulk use of product
for manufacturing tires, automotive parts, water proofing system, etc. This helps the
company in attaining better market presence across the industry ecosystem. Few major
manufacturers including BASF SE and Royal Dutch Shell plc have presence across the
multiple stages of industry ecosystem which helps them in accomplishing competitive
advantage in the business. Furthermore, the product manufacturers are investing in R&D
activities to develop bio-based butadiene products which will eventually help in attaining
promising future growth opportunities.
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Synthetic & Bio-Based Butadiene Market, By Product
Synthetic led the overall industry by capturing a major chunk of the synthetic & bio-based
butadiene market size in 2016. In terms of revenue, the synthetic butadiene market was
valued at over USD 15 billion in 2016 and is expected to reach USD 20 billion in 2024,
attaining a CAGR of over 4% during the forecast period. However, due to changing
regulatory trends, there is shift in the market as government is encouraging use of biobased
product over synthetic to attain sustainability. Synthetic butadiene is highly volatile
and exhibit lower water solubility and therefore has the tendency to evaporate easily, which
is likely to pose serious threat to environment and human.
By Application
Butadiene rubber was valued more than USD 5 billion in 2016. It is chiefly used in
manufacturing automotive tires owing to its ability to offers various value added advantage
such as better grip and low rolling resistance making it desirable in the automotive industry.
Thus, increasing automotive sales across the globe will boost the synthetic & bio-based
butadiene market size by 2024.
SB latex butadiene finds widespread applications in building and construction for sealing
and binding applications as it provides better durability, increased flexibility and reduced
shrinkage. Furthermore, synthetic & bio-based butadiene market size for SB latex will
exhibit growth more than 3% over the forecast timespan. It is also used in waterproofing
system owing to value adding advantages including bond strength, reduces shrinkage and
flexibility which will drive the global synthetic & bio-based butadiene market size by 2024.
By Region
Asia Pacific led the overall synthetic & bio-based butadiene market size and accounted for a
major chunk of the total market size in 2016, as key automobile manufacturers are based in
China which drives the product demand in the region. Domestic product demand has
increased due to increasing disposable income of consumers. The automotive production in
China was over 23 million units in 2016. Additionally, Asia Pacific accounted for over 45%
share of the global production in 2016, which signifies ample industry growth opportunities
in the region.
China is inclined towards plastic use for manufacturing automotive parts to reduce the
overall weight of the car and improve fuel efficiency. For example, ABS are extensively
utilized in manufacturing automobile parts. In terms of revenue, China ABS synthetic and
bio-based butadiene market size was over USD 740 million in 2016. Rise in automobile
production in China is expected to boost the ABS demand in Asia Pacific which will
subsequently have a positive impact on the synthetic & bio-based butadiene market size by
2024.
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Synthetic & Bio-Based Butadiene Industry Background
Synthetic & bio-based butadiene market has applications across various end-user industries
including automotive, construction, etc., as it possesses various advantages including high
impact and chemical resistance, toughness, heat stability, rigidity, and ease of processing.
Thus, increasing automotive industry across the globe will positively influence the synthetic
& bio-based butadiene market size during the forecast period.
In addition, rapid industrialization and urbanization primarily in Asia Pacific will result in
increasing construction industry and will subsequently help the synthetic & bio-based
butadiene market size by 2024. Synthetic butadiene led the overall industry in 2016 because
its widespread applications. Stringent government regulations have shifted the market focus
to bio-based butadiene use which is expected to drive the segment by 2024.
Table of Contents
1 Methodology and Scope
1.1. Methodology
1.2. Data sources
2. Executive Summary
3. Synthetic & Bio-based Butadiene Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
4. Synthetic & Bio-based Butadiene Market, By Product
5. Synthetic & Bio-based Butadiene Market, By Application
6. Synthetic & Bio-based Butadiene Market, By Region
Continued...
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