Stratview Research announces the launch of a new market research report on the Synthetic & Bio-based Butadiene Market by Product Type (Synthetic Butadiene and Bio-based Butadiene), by Application Type (SB Rubber, Butadiene Rubber, SB Latex, ABS, Adiponitrile, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Market Highlights
The synthetic & bio-based butadiene market was estimated at USD 16.42 billion in 2021 and is likely to grow at a CAGR of 4.96% during 2022-2028 to reach USD 23.13 billion in 2028.
What is synthetic & bio-based butadiene?
Synthetic & bio-based butadiene is chemically known as 1,3-butadiene, which is a non-corrosive and colorless gas that condenses to a liquid form at -4.5°C and is produced commercially by refinement of crude butylene concentration stream.
This strategic assessment report, from Stratview Research, provides a wide-ranging analysis that throws light on the present Synthetic & Bio-based Butadiene Market realities and future market possibilities for the forecast period of 5 years. The report has been segmented in a way to provide a complete and accurate view of the market. The vital data/information provided in the report can help market participants and investors recognize low-hanging fruit in the market and develop growth strategies.
Market Dynamics
Rapid growth in the tire and automotive industries globally, leading to increased product demand in automotive-related industries including raw materials for tires, body parts, and other accessories is the key factor expected to fuel the growth of the market during the forecast period.
Scope of the Synthetic & Bio-based Butadiene market:
The regional and national analysis segment examines the Synthetic & Bio-based Butadiene industry minutely. The report also compares the size of the market in each landscape, and historical and projected growth in the market. It evaluates the aftereffects of the Covid-19 pandemic and its recovery path for all geographies, advanced economies, and transition economies.
The segment on developments and strategies examines how the Synthetic & Bio-based Butadiene Market is recovering from the global crisis and suggests ways for businesses to grow as the economy recovers.
Here are the key players: -
- BASF SE
- Eni S.p.A
- Evonik Industries AG
- Exxon Mobil Corporation
- INEOS Group Ltd.
- LyondellBasell Industries N.V.
- Repsol S.A.
- Royal Dutch Shell Plc
- SABIC
- The Dow Chemical Company.
Segment Analysis
Based on the product type, the market is segmented as synthetic butadiene and bio-based butadiene. Synthetic butadiene held the largest share of the market in the past few years but due to increasingly stringent rules and regulations imposed by the government to use bio-based products in the current scenario, bio-based butadiene is expected to witness significant growth in the market during the forecast period.
Based on the application type, the market is segmented as SB rubber, butadiene rubber, SB latex, ABS, adiponitrile, and others. Butadiene rubber is estimated to account for the major share of the market during the forecast period on account of its capability of offering various added benefits such as better grip and low rolling resistance making it more preferable in the automotive industry. On the other hand, SB latex is estimated to witness significant growth in the market owing to its wide utilization in building and construction activities.
In terms of regions, Asia-Pacific is estimated to be the leading region of the market during the forecast period on account of the increasing disposable income of consumers with the growing population and China being the growth engine of the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Why should one invest in the Synthetic & Bio-based Butadiene Market report?
- Analyze how the coronavirus is affecting the industry
- How it is likely to arise and develop when the virus's effect fades?
- Recognize investment options in growth areas.
- Outdo competitions by utilising future projections as well as growth drivers and patterns.
- Most recent market research data is provided that can help users gain a better understanding of the target audience.
- Clear comparison with the market competitors.
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