Synthetic & Bio-based Butadiene Market Growth Analysis | 2022-2028

Market Insights

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.

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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.

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.

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Segment Analysis

By Product Type

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.

By Application Type

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.

Regional Insights

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.

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Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories.

By Product Type

• Synthetic Butadiene
• Bio-based Butadiene

By Application Type

• SB Rubber
• Butadiene Rubber
• SB Latex
• ABS
• Adiponitrile
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

Some of the key players in the market are-

• 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.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.