1,3 Butadiene Market size was valued at USD 2.66 Billion in 2023 and is expected to exceed USD 5.96 Billion by the end of 2036, expanding at over 6.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of 1,3 butadiene is evaluated at USD 2.81 Billion. The growth of the market can be attributed primarily to the increasing production of motor vehicles worldwide, as 1,3 butadiene offers elastomers which are highly used in the production of tires. A report by OICA reveals that the production of motor vehicles worldwide increased from 58374162 units in 2000 to 91786861 units in 2019.
The chemical compound 1,3-butadiene is a colorless, synthetic gas or liquid that is useful as a chemical intermediate or monomer (molecules that form polymers when attached to others). It is widely used in the manufacture of synthetic rubbers or elastomers and is highly soluble in ethanol, ether, acetone, and benzene, but highly insoluble in water. Moreover, the extensive use of product in end use industries such as automobile, construction, healthcare, and expansion of chemical industry are projected to drive 1,3 butadiene market growth during the forecast period. According to estimates, the Indian chemical industry is projected to grow by 10% and reach USD 300 billion in revenue by 2025.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
6.4% |
|
Base Year Market Size (2023) |
2.66 Billion |
|
Forecast Year Market Size (2036) |
5.96 Billion |
Product (Butadiene Rubber, Styrene Butadiene Rubber, Acrylonitrile Butadiene Rubber, Nitrile Butadiene Rubber, SB Latex, Hexamethylenediamine)
The global 1,3 butadiene market is segmented and analyzed for demand and supply by product into butadiene rubber, styrene butadiene rubber, acrylonitrile butadiene rubber, nitrile butadiene rubber, SB latex, hexamethylenediamine, and others. Among these segments, the styrene butadiene rubber (SBR) segment is anticipated to capture the largest market size in the global 1,3 butadiene market owing to the rising trade and exports of SBR globally. Styrene butadiene rubber exports were valued at USD 6,515,185 thousands in 2021, up from USD 4,508,649 thousands in the previous year, according to the International Trade Center (Trademap). Moreover, SBR is the major component of synthetic rubber, and it is mixed with natural rubber to create tires. It is commonly used when water, hydraulic fluids, or alcohol are present. Styrene-butadiene has strong water resistance as well as compressive strength. These factors are expected to fuel segment growth over the forecast period.
Our in-depth analysis of the global 1,3 butadiene market includes the following segments:
|
By Type |
|
|
By Product |
|
|
By End User |
|
Regionally, the global 1,3 butadiene market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2036 backed by the increasing production and trade of tyre rubber. As per the ITC data, tyre rubber exports in China in 2021 were valued at USD 24,765 thousand, up from USD 22,490 thousand the previous year. Moreover, the increasing R&D investments in industrial sectors, rising vehicle production, and rapid growth in the automobile industry along with the presence of market key players in the region are anticipated to drive 1,3 butadiene market growth in Asia Pacific over the forecast period.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?