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Butadiene Derivatives Market Price Trend, Current Industry Status, Growth Opportunities, Top Key Players, Target Audience and Forecast to 2023
Mar 01, 2019 (AB Digital via COMTEX) —
The Global Butadiene Derivatives Market has been analyzed for five prominent regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The Asia-Pacific market is expected to register the highest CAGR during the forecast period and is projected to account for more than half of the market share in 2017, owing to the surging demand for Butadiene Derivatives in automotive and rubber applications. Rapid industrialization, increasing per capita income, rising population, and increasing demand from end-use industries are the major market drivers in this region. China is the leading country in this region and is expected to have a robust CAGR in the coming years. There is an increased demand for butadiene derivatives in automotive and injection-molded products, due to the commissioning of new manufacturing plants. Styrene Butadiene Rubber (SBR) and Polybutadiene Rubber (PBR) dominate the Butadiene Derivatives Market owing to their applications in gaskets and seals, adhesives, and tires. The North American market is projected to account for a remarkable market share during the review period due to the presence of leading manufacturing companies, such as DowDuPont, Exxon Mobil Corporation, and TPC Group. Butadiene derivatives such as SBR and ABS also find applications mainly in consumer goods such as wetsuits, gloves, gaskets and seals, and golf balls. The US is the leading market in the region and is expected to retain its dominance in the coming years due to the presence of leading automobile companies, such as Toyota, Ford, and General Motors.
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The European market is projected to grow at a substantial CAGR during the review period. There is an increasing demand for styrene butadiene rubber (SBR) largely in the manufacturing of car tires and in adhesives, sealants, and coatings. Germany, Italy, Russia, and the Netherlands are the prominent economies boosting the regional market growth, due to the presence of leading manufacturing companies such as Royal Dutch Shell Plc, PJSC "Nizhnekamskneftekhim”, and BASF SE.
The Latin American market is expected to register steady growth in the coming years owing to the surging demand for acrylonitrile butadiene styrene (ABS) and styrene butadiene latex in footwear, adhesives, and paints and coatings industries. Brazil holds the largest market share in the region due to the presence of Braskim, a leading petrochemical industry, which manufactures tires for the automotive industry and special-grade rubbers for medical equipment.
The Middle East & Africa market is expected to grow at a slow pace during the forecast period due to insufficient raw material supply and limited consumer base. Some of the prominent countries such as Saudi Arabia, the UAE, and South Africa contribute to the regional Butadiene Derivatives Market growth.
Some of the prominent players in the Global Butadiene Derivatives Market are DowDuPont (US), Exxon Mobil Corporation (US), TPC Group (US), Royal Dutch Shell Plc (The Netherlands), PJSC "Nizhnekamskneftekhim" (Russia), Eni S.p.A (Italy), LyondellBasell Industries Holdings B.V. (The Netherlands), China Petrochemical Corporation (China), BASF SE (Germany), Braskem (Brazil), China National Petroleum Corporation (China), and CNOOC Limited (China).
The Global Butadiene Derivatives Market has been Segregated Based on Product Derivatives, Application and Region.
Based on Product Derivatives, the Global Butadiene Derivatives Market has been categorized as styrene butadiene rubber (SBR), polybutadiene rubber (PBR), acrylonitrile butadiene styrene (ABS), styrene butadiene latex, adiponitrile, nitrile rubber (NR), and others.
On the Basis of Application, the Global Butadiene Derivatives Market has been classified into tires and rubber, injection-molded products, adhesives, paints and coatings, footwear, and others.
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The Global Butadiene Derivatives Market has been studied for five regions —Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
The Global Butadiene Derivatives Market has been analyzed across five major regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
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