PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1608234
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1608234
Market Overview
The Chinese butadiene market is projected to reach 3.5 million tonnes in 2024, with an anticipated compound annual growth rate (CAGR) of 5.1% from 2024 to 2030, reaching 4.7 million tonnes by 2030. This growth is driven by China's position as the largest producer and consumer of butadiene, coupled with the expansion of the automotive industry, which utilizes butadiene in manufacturing tires, gaskets, seals, and exterior components. Additionally, the construction industry's growth, technological advancements, and supportive government policies are contributing to increased butadiene demand. The rising production of acrylonitrile-butadiene-styrene (ABS) plastics, used in electronic and consumer items like laptop casings and hair dryer bodies, further propels market expansion.
Key Insights
The automotive industry is the largest end-user category, driven by the demand for butadiene-based products such as tires and gaskets.
The Eastern region holds the largest market share and is also the fastest-growing area, attributed to significant industrial activities and infrastructure development.
Technological advancements and investments in petrochemical infrastructure are enhancing the productivity and efficiency of butadiene plants, supporting market growth.
A significant trend is the increasing demand for bio-based butadiene, driven by environmental concerns and stringent regulations promoting eco-friendly products.
The market is fragmented, with numerous players focusing on technological innovations and strategic partnerships to gain a competitive edge.
The growing production of ABS plastics, utilized in various electronic and consumer goods, is boosting the demand for butadiene.
Supportive government policies and investments in technological advancements are creating favorable conditions for market expansion.
The construction industry's growth is contributing to the increased use of butadiene in various applications, further driving market demand.