PUBLISHER: Value Market Research | PRODUCT CODE: 1489170
PUBLISHER: Value Market Research | PRODUCT CODE: 1489170
The global demand for 1,3-Butadiene Market is presumed to reach the market size of nearly USD 75.96 Billion by 2032 from USD 43.02 Billion in 2023 with a CAGR of 6.52% under the study period 2024-2032.
1,3-Butadiene is a colorless, flammable gas with a mild aromatic odor, commonly used in the production of synthetic rubber. It is an important industrial chemical derived from petroleum processing. The primary use is in the manufacture of polybutadiene rubber and styrene-butadiene rubber, both of which are essential components in the production of tires, automotive parts, and various rubber goods. Additionally, it is used to produce plastics, resins, and latex. Due to high reactivity, it is a key building block in polymer chemistry, significantly contributing to manufacturing a broad range of commercial and industrial products.
The 1,3-butadiene market is significantly driven by its extensive synthetic rubber and plastics production application. The automotive industry, the largest synthetic rubber consumer, is pivotal in driving the market growth. The increasing production of vehicles, especially in emerging economies, boosts the need for tires, hoses, and other rubber components, fueling the market. Additionally, it is a key ingredient in manufacturing numerous plastics, such as acrylonitrile butadiene styrene (ABS), which is widely used in consumer goods, electronics, and construction materials. The growing demand for lightweight & durable materials in these sectors further propels the market.
Technological advancements in production processes and the development of bio-based 1,3-butadiene also contribute to the market's growth by offering sustainable and cost-effective alternatives. Moreover, expanding the petrochemical industry, particularly in regions with abundant raw materials, supports market growth. Regulatory support and investments in research and development to enhance the applications and efficiency of 1,3-butadiene also play a crucial role in driving the market. However, stringent regulatory requirements and volatility in raw material prices may challenge the market growth in the coming years.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of 1,3-Butadiene. The growth and trends of 1,3-Butadiene industry provide a holistic approach to this study.
This section of the 1,3-Butadiene market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the 1,3-Butadiene market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the 1,3-Butadiene market include BASF SE, LyondellBasell Industries Holdings B.V., ExxonMobil Corporation, Lanxess, China Petrochemical Corporation, Shell Plc, JSR Corporation, LG Chem Ltd., Idemitsu Kosan Co. Ltd., Evonik Industries AG. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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