Global Butadiene Market (2021 to 2026) - Growth, Trends, COVID-19 Impact, and Forecasts - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Mar 16, 2021--
The “Butadiene Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Global Butadiene Market size was estimated at 12,432 kilotons in 2020 and the market is projected to register a CAGR of over 3.5% during the forecast period (2021-2026).
- BASF SE
- China Petroleum & Chemical Corporation
- Evonik Industries AG
- Exxon Mobil Corporation
- Formosa Plastics Group
- JSR Corporation
- LG Chem
- LOTTE CHEMICAL TITAN HOLDING BERHAD
- LyondellBasell Industries Holdings B.V.
- Reliance Industries Limited
- Royal Dutch Shell PLC
- Saudi Arabian Oil Co.
- TPC Group
- Lion Elastomers
Key Market Trends
Polybutadiene (PBR) to Dominate the Market
- The automotive industry relies on PBR for non-tire applications, such as hoses, belts, gaskets, and other automotive components, because of its high resistance to cold temperatures.
- The increasing number of automobiles across the world and the increasing demand for PBR for numerous applications are expected to stimulate the growth of the global butadiene market. However, the recent downfall in automobile production and sales is likely to hinder the market growth.
- PBR consumption is dominated by Northeast Asia, particularly China. West Europe and North America are the next largest consumer regions for PBR.
- As of Q3 2019, about 67.47 million vehicles were produced globally and has reached about 52 million vehicles up to Q3 2020, registering a decline rate of about 23%, thus led to a decrease in the demand for PBR based automotive parts like hoses and belts, which in turn negatively impacts the market growth of butadiene.
- On the supply side, the PBR plants in Asia are running at full rates to meet the strong demand. Deep-sea supplies from Europe and the Middle-East are also expected to head to Asia, in order to help meet the strong demand.
- Leading producers of PBR around the world include Saudi Arabian Oil Co., KUMHO PETROCHEMICAL, Michelin, Zeon Corporation, Petkim Petrokimya Holding A.S., Petrochim, and TSRC.
- Owing to all these factors, the market for butadiene is likely to grow globally during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the global butadiene market. The downstream market in Asia-Pacific witnessed a huge spur in the past few years, owing to which, the demand for butadiene has witnessed a rapid increase due to its requirement.
- China has achieved some milestones in shale gas exploration, both in capacity and drilling techniques, making it one of the top shale gas suppliers worldwide.
- India, with the support of the United States, is working on developing the shale gas exploration in its coastal regions, with US companies joining the exploration process. India has recoverable shale gas reserves, which are estimated to have a capacity of 96 trillion cubic feet (tcf), mainly in Tamil Nadu, Andhra Pradesh, and Rajasthan. The Krishna-Godavari basin, located in eastern India, holds the country’s largest shale gas reserves, extending over 7,800 gross square miles, with a prospective area of 4,340 square miles.
- Apart from this, the Asia-Pacific region is the largest producer of vehicles across the globe. Butadiene is used to produce intermediates like styrene-butadiene (SBR) and others, which are further used to manufacture automotive products include tires, conveyor belt, etc.
- In 2019, the total volume of tires produced in India was about 191.98 million, with a growth rate of about 7.5% compared to the previous year, which in turn stimulates the demand for the butadiene market.
- As of Q3 2019, China had produced 18.17 million vehicles and reached 16.96 million vehicles by Q3 2020, registering a decline rate of about 6.66%, which in-turn has led to a decrease in the consumption of parts made up of styrene-butadiene (SBR) and others, thus creating a negative effect on the regional butadiene market growth.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Developing Downstream Market in Asia-Pacific
4.1.2 Other Drivers
4.2.1 Hazardous Effects Caused by Butadiene
4.2.2 Unfavorable Conditions Arising due to the Impact of COVID-19
4.3 Industry Value-Chain Analysis
4.4 Porter’s Five Forces Analysis
4.5 Feedstock Analysis
4.6 Technological Snapshot
5 MARKET SEGMENTATION (Market Size by Volume)
5.2 End-user Industry
5.3.2 North America
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Innovation of Bio-butadiene
For more information about this report visit https://www.researchandmarkets.com/r/gpt8k8
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INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING TIRES & RUBBER AUTOMOTIVE CHEMICALS/PLASTICS
SOURCE: Research and Markets
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PUB: 03/16/2021 12:50 PM/DISC: 03/16/2021 12:50 PM