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1,3 Butadiene Market Size Forecast to Reach $44.8 Billion by 2026

admin by admin
January 29, 2022
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(EMAILWIRE.COM, January 25, 2022 ) The 1,3 Butadiene Market size is forecast to reach $44.8 billion by 2026, after growing at a CAGR of 5.5% during 2021-2026. 1,3 butadiene is used primarily in the production of synthetic rubbers and polymers. 1,3 butadiene products such as styrene-butadiene rubber is highly used in automotive applications due to heat resistant and lightweight properties. These polymers are used in a wide variety of industrial and consumer products. Such polymers are used to produce tire products, paper coating, gloves, and also plastic materials. 1,3 butadiene is also used as an intermediate in the production of chloroprene, adiponitrile, and other basic petrochemicals. It helps to improve product functionality, performance, and safety. Hence, the growing demand from various industries such as automotive, building & construction, healthcare, and others are estimated to create a huge demand for 1,3 butadiene compounds.

Impact of COVID-19

Due to COVID 19, the market for 1,3 butadiene is highly impacted at the global platform. 1,3-butadiene is extremely flammable and it is available as liquefied gas, which is extracted from crude butylene concentration stream. 1,3 butadiene is a byproduct of naphtha that is used to reduce the viscosity of crude oil. Thus, the price of crude oil is fluctuating day by day during the lockdown, which is hampering the production of 1,3 butadiene.

Full Report Link @ https://www.industryarc.com/Research/1,3-Butadiene-Market-Research-503437

1,3 Butadiene Market Segment Analysis – By Product

Styrene-butadiene rubber segment held the largest share in the 1,3 butadiene market in 2020, because it is the primary material combined with natural rubber to make tires and produced plastic materials. Styrene-butadiene rubber is used for various applications such as cable insulation, drive belts, adhesives, hoses, and molded rubber goods. Apart from this, styrene-butadiene latex (SB latex) is used to produce paper coatings. Acrylonitrile butadiene styrene (ABS) is a heat and impact resistant lightweight material that can be used for toys. Furthermore, acrylonitrile butadiene styrene is used in various automotive applications such as doorknobs, grilles, and trims, which increases the demand for 1,3 butadiene products.

1,3 Butadiene Market Segment Analysis – By End-Use Industry

Automotive has been the primary end-user segment for the 1,3 butadiene market in 2020 and is growing at a CAGR of 6% during this forecast period because 1,3 butadiene is used in the production of styrene-butadiene rubber, acrylonitrile butadiene styrene resin, and nitrile rubber, which is used in tires on cars and trucks. Nitrile Butadiene Rubber (NBR) is an oil-resistant synthetic rubber used in automotive gaskets where oil resistance is required. Styrene-butadiene rubber (SBR) and polybutadiene rubber (PBR) are used to produce tires and plastic materials. Styrene-butadiene rubber is abrasion resistant with a replacement for natural rubber, which is produced from polyisoprene. Thus, increasing usage of 1,3 butadiene in the automotive industry is estimated to grow the market size.

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=503437

Report Price: $ 4500 (Single User License)

1,3 Butadiene Market Segment Analysis – By Geography

Asia Pacific dominated the 1,3 butadiene market in 2020 with 30%, due to growing demand for 1,3 butadiene from various end-use industries such as automotive, building & construction, healthcare, and packaging in the region. According to the China Association of Automobile Manufacturers, the production of electric buses is expected to increase 34% by 2025. According to the National Development and Reform Commission (NDRC), 14 construction investment projects were approved worth CNY177.8 billion (US$25.2 billion), following approvals of CNY68.9 billion (US$10.1 billion) in August 2020. Additionally, according to Central Sanctioning and Monitoring Committee (CSMC), 1,68,606 new homes were approved to construct in urban areas under Pradhan Mantri Awasa Yojana in 2021 Hence, all factors are estimated to grow the demand for 1,3 butadiene.

1,3 Butadiene Market Drivers

Rising Adoption from Automotive Industry

1,3 Butadiene is used primarily as a chemical intermediate and as a monomer in the manufacture of polymers such as synthetic rubbers or elastomers, including styrene-butadiene rubber (SBR), which is majorly used in the production of tires. 1,3 Butadiene is consumed in the manufacture of polymers, latexes, and plastic materials. Apart from this, acrylonitrile-butadiene rubber resin is used to reduce the weight of tires, thus the growing adoption of 1,3 butadiene in the automotive industry is estimated to grow the market size during the projected year. Additionally, it is widely used in tire production due to enhancing components to tires, such as rolling resistance, wear, and traction. Thus, increasing automotive tire production is estimated to the growing demand for 1,3 butadiene. According to U.S. Tire Manufacturers Association, the tire production of lightweight vehicles increased from 25.4 million to 26.7 million in 2018-2019 and the passenger car’s tire production increased from 14.4 million to 17.4 million in 2018-2019. Additionally, according to the India Brand Equity Foundation (IBEF), tire demand is estimated to grow by 7-9 percent during FY2019-FY23, and the tire market is forecast to reach USD 251.4-282.8 billion by 2026. Hence, all factors are growing demand for 1,3-butadiene.

Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=503437

1,3 Butadiene Market Challenges

Growing Concern towards Healthcare & Personal Care Products

1,3 butadiene is widely used in health care and personal care products but 1,3 butadiene is a problem carcinogen in humans. It causes lymph and blood cancer in humans. Due to this reason, the demand for 1,3 butadiene may decreased. Butadiene causes many diseases like headache and dizziness, due to which humans can die or go into a coma. These factors are increasing concern about health safety and hampering the market growth.

Fluctuation of Raw Material Prices

1,3 butadiene used in the production of synthetic rubbers. Styrene-butadiene rubbers and acrylonitrile butadiene rubber are used in the production of tires of vehicles. 1,3 butadiene is feedstock chemical of petrochemical industry which produced as a by-product from steam cracking of naphtha. 1,3 butadiene can also be produced by the dehydrogenation of butane. In recent years the production of naphtha has fluctuated massively due to fluctuation in crude oil prices which may hamper the production of 1,3 butadiene. According to the U.S. Energy Information Administration (EIA), crude oil prices decreased by US$ 41.69 per barrel in 2020 compared to US$ 64.34 per barrel in 2019.

1,3 Butadiene Market Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the 1,3 butadiene market. Major players in the 1,3 Butadiene Market are BASF, Exxon Mobil Corporation, TPC Group, Lanxess, Lyondellbasell, Ineos, Sabic, Dow, LG Chem, YEOCHUN NCC CO., LTD., Reliance Industries, Jiutai Energy Inner Mongolia Co., Ltd., Bangkok Synthetics Co. Ltd, JSR and Braskem, and among others.

Key Takeaways

Asia-Pacific dominates the 1,3 butadiene market owing to increase demand for synthetic rubbers in the automotive sector, which is made from 1,3 butadiene is likely to aid in market growth.

Increasing adoption for paper coating with high gloss and brightness, also for back coating in tufted carpets to provide stability is expected to grow the demand for styrene-butadiene latex.

Furthermore, increasing crude oil prices and growing awareness regarding health are estimated to hamper market growth.

Related Reports

A.Nitrile Elastomers Market

https://www.industryarc.com/Report/17709/nitrile-elastomers-market.html

B.Hydrogenated Nitrile Butadiene Rubber Market

https://www.industryarc.com/Research/Hydrogenated-Nitrile-Butadiene-Rubber-Market-Research-510788

For more Chemicals and Materials Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



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