Butadiene (BD) Market Is Expecting Growth in Demand from Automotive Industries in Emerging Markets, Growing at CAGR 4.4% from 2014 to 2020: Grand View Research, Inc.
San Francisco, California (PRWEB) October 29, 2014 -- The global market for 1,3 butadiene is expected to reach USD 33.01 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for tires (both OEM and replacement) on account of an upturn in the automotive industry, particularly in China, India and Brazil, is expected to remain a key driving factor for the global market. In addition, growing demand for ABS on account of increasing demand for high performance plastics from automotive industry is also expected to have a positive influence on the global market. Volatile raw material prices coupled with stringent regulatory scenario is expected to remain a key challenge for market participants. In order to overcome such challenges, the industry has shifted its focus towards developing bio-based routes to manufacture 1,3 butadiene.
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Butadiene rubber emerged as the leading application segment for BD and accounted for 30.8% of total market volume in 2013. More than two-thirds of butadiene rubber goes for manufacturing tires, thus global tire industry dynamics are a key factor for the growth of this market. HMDA (hexamethylenediamine) is expected to be the fastest growing application market for BD, at an estimated CAGR of 6.8% from 2014 to 2020. Growing demand for nylon 66 resin in major end-use industries such as automotive and electronics is expected to fuel the demand for BD in HMDA.
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Further key findings from the study suggest:
- Global BD market volume was 10,500 kilo tons in 2013 and is expected to reach 14,179.9 kilo tons by 2020, growing at a CAGR of 4.4% from 2014 to 2020.
- Asia Pacific emerged as the largest regional market for BD and accounted for 53.6% of total market volume in 2013. Growth of automotive industry particularly in emerging markets of China and India is expected to remain a key driving factor for the regional market. Asia Pacific is expected to grow at a CAGR of 5.5% from 2014 to 2020.
- Growth of major end-use industries such as automotive and construction in Latin America and Middle East is expected to push BD demand for these regions to grow at an estimated CAGR of 8% from 2014 to 2020.
- Naphtha remained the primary petrochemical feedstock for the production of BD. However, emergence of coal based ammonia and methanol facilities in Asia is expected to provide alternative sources for the production of 1,3 butadiene..
- The global market is moderately concentrated with the top four companies including Dow Chemical Company, Shell, Lyondell Basell and Shanxi Sanwei accounting for over 55% of the global market in 2013. Other companies in the market include XioJiang Markor, Sinopec and TPC Group, Inc.
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For the purpose of this study, Grand View Research has segmented the 1,3 butadiene market on the basis of application and region:
Global 1,3 Butadiene Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Butadiene Rubber
• Acrylonitrile Butadiene Styrene Resins (ABS)
• Styrene Butadiene Rubber (SBR)
• SB Latex
• Nitrile Butadiene Rubber (NBR)
• Hexamethylenediamine (HMDA)
• Others
Global 1,3 Butadiene Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For more information, visit http://www.grandviewresearch.com/
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
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Email: sales(at)grandviewresearch(dot)com
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Sherry James, Grand View Research, Inc., http://www.grandviewresearch.com/, +1 4153490058, [email protected]
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