Global Butadiene Market: Industry Trends and Forecast Analysis (2022-2029)

The global butadiene market is expected to reach a value of USD 28.8 billion by 2029, according to a new report by Million Insights. It is estimated to grow at a CAGR of 5.4% during the forecast period, 2020 to 2029. Butadiene is a colorless, flammable gas with a pungent odor. It is a hydrocarbon and is used in the production of synthetic rubber and other chemicals. It is also used in the production of polybutadiene rubber, styrene-butadiene rubber, and nitrile rubber.

Drivers

The increasing demand for butadiene from the automotive and construction industries is expected to drive the growth of the global butadiene market. The increasing demand for synthetic rubber in the automotive industry is expected to drive the growth of the global butadiene market. The increasing demand for butadiene in the production of tires is expected to drive the growth of the global butadiene market. The increasing demand for butadiene in the production of plastics is also expected to drive the growth of the global butadiene market.

Restraints

The fluctuating prices of raw materials is expected to restrain the growth of the global butadiene market. The increasing environmental concerns associated with the production of butadiene is also expected to restrain the growth of the global butadiene market.

Regional Analysis

Asia Pacific is expected to dominate the global butadiene market during the forecast period. The increasing demand for butadiene from the automotive and construction industries in the region is expected to drive the growth of the regional butadiene market. The increasing demand for butadiene in the production of tires in the region is also expected to drive the growth of the regional butadiene market.

Competitive Landscape

The global butadiene market is highly competitive and is dominated by a few major players. The major players in the global butadiene market are ExxonMobil Corporation, Royal Dutch Shell plc, BASF SE, The Dow Chemical Company, and SABIC.

Summary

The global butadiene market is expected to reach a value of USD 28.8 billion by 2029, according to a new report by Million Insights. It is estimated to grow at a CAGR of 5.4% during the forecast period, 2020 to 2029. The increasing demand for butadiene from the automotive and construction industries is expected to drive the growth of the global butadiene market. Asia Pacific is expected to dominate the global butadiene market during the forecast period. The global butadiene market is highly competitive and is dominated by a few major players.

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