Demand for synthetic rubber is Rising quickly due to the increasing need for tires in the automobile industry.
The global Bio-Based Butadiene Market size was USD 16.9 Billion in 2022 and is expected to reach USD 18.5 Billion in 2032, and register a rapid revenue CAGR of 3.8% during the forecast period.
Demand for synthetic rubber is Rising quickly due to the increasing need for tires in the automobile industry. The need for synthetic rubber, which in turn, is rising demand for butadiene, is increasing use for lightweight and fuel-efficient vehicles. In addition, Styrene-Butadiene Rubber (SBR), Polybutadiene Rubber (PBR), and Acrylonitrile-Butadiene-Styrene (ABS) resins, all of which are extensively utilized in the automotive sector, are produced using butadiene.
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Major Companies:
- LyondellBasell Industries Holdings B.V.
- The Dow Chemical Company
- Lanxess AG
- Shell Chemicals
- INEOS Group AG
- Eni S.p.A.
- Evonik Industries AG
- JSR Corporation
- SABIC
- TPC Group
Strategic Development:
- In 2021, Eni S.p.A. and Versalis (Eni’s chemical company) signed a Memorandum of Understanding with Versalis and Bridgestone for the supply of synthetic rubber. The agreement includes the construction of a renewable source-based butadiene production plant, aimed at increasing the sustainable production of synthetic rubber.
- In 2020, Lanxess AG announced the construction of a new butyl rubber plant in Singapore, with a capacity of 100,000 metric tons per year. The plant is expected to begin operations in 2023 and will cater to the growing demand for high-quality butyl rubber products in the Asia-Pacific region.
- In 2020, LyondellBasell Industries Holdings B.V. announced its plan to build a new Propylene oxide and tertiary butyl alcohol (PO/TBA) plant in the US Gulf Coast region. The plant will have a capacity of 470 kilotons per year and will be the largest PO/TBA facility in the world.
Key questions addressed in the report:
- What is the expected market size of the global Bio-Based Butadiene market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Bio-Based Butadiene market?
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Bio-Based Butadiene Market Segmentation:
By Type Outlook:
- Synthetic
- Bio-Based
By Application Outlook:
- Rubber and Polymer
- Chemical
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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