Butadiene Derivatives Market: —
Butadiene derivatives are copolymers produced from reacting butadiene and styrene and/or acrylonitrile, which include Styrene Butadiene Rubber (SBR), Polybutadiene Rubber (PBR), Acrylonitrile Butadiene Styrene (ABS), and others.
Growing demand for butadiene derivatives, such as SBR mainly in tires and rubber products, drives the global market growth.
The soft nature and fluctuating prices of natural rubber, improved properties of synthetic rubber, and geographical constraints of rubber plantation further drive the global market growth. Due to the increasing demand for raw materials in countries, such as China, manufacturing plants are commissioned to supply sustainable raw material which favors the market growth.
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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.
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.
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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.
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 material and increasing consumer demand. Increasing purchasing power, rapid industrialization, and high-demand from end-use industries are the major factors positively influencing the 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.
LyondellBasell Industries Holdings B.V. (The Netherlands), BASF SE (Germany), Royal Dutch Shell Plc (The Netherlands), PJSC "Nizhnekamskneftekhim" (Russia), TPC Group (US), Exxon Mobil Corporation (US), DowDuPont (US), Braskem (Brazil), Eni S.p.A (Italy), China National Petroleum Corporation (China), China Petrochemical Corporation (China), and CNOOC Limited (China) are some of the key players in the global butadiene derivatives market.
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