1,3-Butadiene is a colorless gas that is highly flammable and has a faint petroleum-like odor. It is primarily used as a building block for the production of synthetic rubber, plastics, and various chemicals. The market for 1,3-butadiene has witnessed significant growth due to the rising demand for automotive tires and synthetic rubber in various industries. As one of the key components in the production of styrene-butadiene rubber (SBR), its applications extend to industries such as automotive, construction, Europe chemical, and technology.
Recent news indicates that major players are investing in research and development to find alternative methods of production that are less dependent on fossil fuels. For instance, companies like Braskem are exploring bio-based 1,3-butadiene from renewable sources, which is expected to have a substantial impact on the market by catering to the demand for sustainable products.
This product will be delivered within 1-3 business days.
Market Size
As of the latest reports, the global 1,3-butadiene market was valued at approximately $7.1 billion in 2023 and is projected to reach $10.3 billion by 2029, growing at a CAGR of around 6.4% during the forecast period. The growth is fueled by the expanding automotive sector, particularly in emerging economies, as well as increasing demand for high-performance materials. Furthermore, the growing awareness regarding sustainability and eco-friendly processes is pushing the industry towards adopting more responsible production methods.Share & Trends Analysis Report
By Product Type
- Styrene-Butadiene Rubber (SBR): This segment holds the largest share of the market due to high usage in tire manufacturing and is expected to grow steadily.
- Styrene-Butadiene Latex: Used in adhesives, coatings, and sealants; this segment is gaining traction owing to its application in the construction sector.
- Other Derivatives: This includes synthetic fibers and plastics, which also support moderate market growth.
By Key Players
Key players in the 1,3-butadiene market include:- Royal Dutch Shell
- Braskem
- ASAHI KASEI CORPORATION
- Reliance Industries Limited
- ExxonMobil Chemical
By Process
- C4 Fractionation: Predominantly used, where 1,3-butadiene is separated from C4 hydrocarbons.
- Steam Cracking: Second most common process, where hydrocarbons are subjected to high temperatures to produce 1,3-butadiene.
By Application
The application segments of the 1,3-butadiene market include:- Automotive: Leading application area due to the extensive use of synthetic rubber in tire production.
- Construction: Increasing use of adhesives and sealants.
- Consumer Goods: Application in plastics and household products.
By End-Use
- Transport: Strong demand from the automotive industry.
- Manufacturing: Used in manufacturing a wide array of plastic products.
By Region
- North America: Holds a sizeable market share driven by the automotive industry.
- Europe: Steady growth due to stringent regulations for eco-friendly products.
- Asia-Pacific: Rapidly growing region due to industrial expansion in countries like China and India.
Market News on Policy and Companies
The market for 1,3-butadiene is influenced by several policies and regulations aimed at reducing greenhouse gas emissions. Various governments are pushing for cleaner and more sustainable technologies which encourage companies to adopt greener production methods. For example, the establishment of emission control policies in the EU is driving a shift toward renewable feedstocks for the production of 1,3-butadiene.Recent news indicates that major players are investing in research and development to find alternative methods of production that are less dependent on fossil fuels. For instance, companies like Braskem are exploring bio-based 1,3-butadiene from renewable sources, which is expected to have a substantial impact on the market by catering to the demand for sustainable products.
Segment Forecasts, 2024-2029
Going forward, the market for 1,3-butadiene is expected to continue its trajectory of growth. Key forecasts include:- Increase in Automotive Production: Anticipated growth in automotive manufacturing in regions like Asia-Pacific and North America will continue to escalate the demand for synthetic rubber.
- Expansion in Emerging Markets: Developing nations are projected to experience an upsurge in construction and manufacturing sectors, thus driving 1,3-butadiene consumption.
- Regulatory Impact: Policies aimed at reducing carbon footprints are likely to drive changes in production methods, influencing both supply and demand.
This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1 Executive SummaryChapter 2 Abbreviation and Acronyms
Chapter 3 Preface
Chapter 4 Market Landscape
Chapter 5 Market Trend Analysis
Chapter 6 Industry Chain Analysis
Chapter 7 Latest Market Dynamics
Chapter 8 Trading Analysis
Chapter 9 Historical and Forecast 1,3-Butadiene Market in North America (2019-2029)
Chapter 10 Historical and Forecast 1,3-Butadiene Market in South America (2019-2029)
Chapter 11 Historical and Forecast 1,3-Butadiene Market in Asia & Pacific (2019-2029)
Chapter 12 Historical and Forecast 1,3-Butadiene Market in Europe (2019-2029)
Chapter 13 Historical and Forecast 1,3-Butadiene Market in MEA (2019-2029)
Chapter 14 Summary For Global 1,3-Butadiene Market (2019-2024)
Chapter 15 Global 1,3-Butadiene Market Forecast (2024-2029)
Chapter 16 Analysis of Global Key Vendors
List of Tables and Figures
Companies Mentioned
- DOW
- SABIC
- Eni
- LyondellBasell
- INEOS
- YEOCHUN NCC
- NOVA Chemicals
- Sinopec
- Petronas Chemicals Group
- Braskem
- Sumitomo Chemical
- Mitsui Chemicals