“1, 3 Butadiene Market: Global Demand Analysis & Opportunity Outlook 2024”
The global 1, 3 Butadiene market is segmented by applications such as butadiene rubber, styrene butadiene rubber, acrylonitrile butadiene rubber, nitrile butadiene rubber, SB latex hexamethylenediamine and others. Further, butadiene rubber segment grabbed major market share in 2016. Butadiene rubber is a synthetic polymer and due to its excellent wear resistance, rebound resilience and mechanical properties, it is widely used in manufacturing of products such as tire, golf balls, and shoe insoles. Further, other beneficial features of butadiene rubbers such as higher elasticity, wear resistance, cold resistance good process ability are likely to be the major factors which may bolster the growth of this segment in upcoming years.
Global 1, 3 Butadiene market is expected to register a notable CAGR over the forecast period. Moreover, the Global 1, 3 Butadiene Market is expected to reach at valuation of USD 33.5 Billion by the end of 2024. Riding on the back of growing automobile industry the 1, 3 Butadiene market is likely to showcase substantial growth over the forecast period.
Automobile industries and building & construction segments are envisioned to thrive at notable pace over the forecast period. Further, increasing use of 1, 3butadiene in vehicle tyre is predicted to drive the growth of global market over the forecast period. Likely, cost benefits of synthetic rubbers over natural rubbers are key factors which are predicted to bolster the growth of this segment during the forecast period.
Wide Range Applications
1, 3 Butadiene is extremely desirable in various industries such as automotive, chemical industries and consumer products industries. Further, features of 1, 3 Butadiene such as excellent fuel efficiency, excellent braking performance, wear resistance and good mechanical properties are also one of the key reasons which are augmenting the growth of market across the globe
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Growing Demand for Synthetic Rubbers
1, 3 Butadiene is mainly used in production of rubber, plastic and copolymers. Further, demand for synthetic rubbers is increasing in various industries due to their advantages over natural rubbers such as low cost, higher workability and a range of applications. Good heat resistance and heat-aging qualities of 1,3Butadiene synthetic rubber are envisioned to drive the growth of market in near future. Although, presence of other alternatives and fluctuating raw material prices are some of the factors that are likely to limit the growth of the 1, 3 Butadiene market in the near future.
The report titled “1, 3 Butadiene Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global 1, 3 Butadiene market in terms of market segmentation by product, by end-user and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global 1, 3 Butadiene market which includes company profiling of BASF S.E.,Braskem S.A, Exxon Mobil Chemical Company, ENI S.p.A, Lyondell Basell Industry N.V., Royal Dutch Shell PLC., Sinopec, TPC Group Incorporation, Nizhnekamskneftekhim O.A.O, and Lanxess A.G. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global 1, 3 Butadiene market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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