Butadiene is produced as a byproduct during the steam cracking process of ethylene and propylene. It is a highly reactive colorless gas, considered as a vital feedstock for manufacturing various chemicals and materials in automotive, paints, and textile end-use industries.
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Based on product derivatives, the global Butadiene Derivatives Market has been divided into styrene butadiene rubber (SBR), polybutadiene rubber (PBR), acrylonitrile butadiene styrene (ABS), styrene butadiene latex, adiponitrile, nitrile rubber (NR), and others. Among these, SBR is the leading segment during the forecast period owing to its rising applications in tires and rubber products. Due to its exceptional properties such as better processability and heat and abrasion resistance, it finds applications in gaskets and seals, footwear, and adhesives. These materials offer better grip and low rolling resistance, thus, resulting in reduced CO2 emissions and improved fuel economy. PBR is also expected to account for a significant market share as it offers superior wear resistance and low-temperature properties and finds application as an impact modifier for ABS resin and polystyrene.
On the basis of application, the global butadiene derivatives market has been segmented into tires and rubber products, injection-molded products, adhesives, paints and coatings, footwear, and others. The tires and rubber is projected to account for the largest market share during the assessment period owing to the surging demand for SBR and ABS in the automotive industry. Rapid industrialization and increasing number of automobiles propel the global market growth. Rubber products such as hoses, gaskets, and seals, shoe heels, and soles drive the growth of the global butadiene derivatives market. Adhesives and paints and coatings segments hold a moderate market share.
Key Players
Royal Dutch Shell Plc (Netherlands), LyondellBasell Industries Holdings B.V. (Netherlands), TPC Group (US), China Petrochemical Corporation (China), Exxon Mobil Corporation (US), BASF SE (Germany), Dow (US), Braskem (Brazil), China National Petroleum Corporation (China), and Eni S.p.A (Italy).
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Market Segmentation
The global butadiene derivatives market has been classified into product derivatives, application, and region.
Based on product derivatives, the global butadiene derivatives market has been segmented based on styrene butadiene rubber (SBR), polybutadiene rubber (PBR), acrylonitrile butadiene styrene (ABS), styrene-butadiene latex, adiponitrile, nitrile rubber (NR), and others.
By application, the global butadiene derivatives market has been categorized into tires and rubber, injection-molded products, adhesives, paints and coatings, footwear, and others.
The global butadiene derivatives market has been analyzed for five prominent regions —Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
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Regional Analysis
Geographically, the global butadiene derivatives market has been analyzed for five regions —Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The Asia-Pacific market is expected to be the fastest-growing and is projected to account for the largest share during the assessment period. China is the largest and fastest-growing market in this region owing to the easy availability of raw materials and increasing consumer demand. Increasing purchasing power, rapid industrialization, and high demand from end-use industries are the major factors positively influencing regional market growth. Japan, India, and South Korea are other prominent countries attributing to the regional market growth. The North American market is projected to account for a significant market share in the coming years owing to the rising applications of butadiene derivatives mainly in tires, rubber, and injection-molded product segments. The US accounts for the largest market share in the region due to the increasing demand for consumer goods such as wetsuits, gloves, hoses, and gaskets and seals.
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