The Butadiene Rubber market is expected to grow at a CAGR of 4.6% to reach $3,258.9 million in 2030.
The second main type of synthetic rubber is butadiene rubber produced by butadiene polymerization. Rising demand for the butadiene rubber in the automotive industry is one of the major growth factors that drives the global butadiene rubber industry.
The growth of the butadiene rubber market is boosted by increasing demand for butadiene from the industry of tire because of its properties such as cold resistance, durability, tear resistance, high resilience, high tensile strength, good abrasion, and toughness. These properties make butadiene appropriate for several applications like industrial and chemical rubber manufacturing, modification of polymer and tire.
Rising demand in the automotive industry is the main factor that drives the global butadiene (BR) market. The main end-user industry for butadiene rubber is the automotive industry. The automotive industry in the market of butadiene rubber contributes to a large amount of share on the basis of utilization. It is used for the production of tires. Approximately 60% of the butadiene production goes into the sidewalls and treads.
India and China account for high production of automobile every year. This will upsurge the acceptance of butadiene rubber in the Asia Pacific. Butadiene rubber (BR) market is anticipated to develop in the regions over the forecast period because of the cost-effective labor in the developing countries involving China.
Increasing requirement for sustainability is another factor motivating the expansion of renewable chemicals like bio-based feedstock, used for the production of rubber. Moreover, unlimited supply of natural rubber and raw materials of petroleum is also fueling the demand for renewable bio-based feedstock for production of synthetic material of rubber. Increasing demand for bio-based feedstock is the key factor that is predicted to help in increasing the growth of the butadiene rubber market in the coming years. Manufacturers are concentrating on improving the manufacturing of raw-materials by having collaboration with the industrial firms of biotech.
Richard Kramer, Chairman, Chief Executive Officer and President of Good Tyre & Rubber Company said: “The tire industry is growing, healthy and provides attractive opportunities to grow with profit”. “Our strategy is designed to take advantage of key industry factors which involves a transition to increasingly complex, large-rim diameter tires and the growing effect of customers in all phases of tire buying process”.
Global Butadiene rubber market is segmented on the basis of application, product, and geography. In terms of application, butadiene rubber market is divided into the tire, wire insulation compounds, footwear, sporting goods, tape, and others. Tire segment holds the maximum number of shares of the butadiene rubber market. On the basis of product, butadiene rubber (BR) market is divided into trans-butadiene and cis-butadiene.
Geographically, regions focusing on the development of global butadiene rubber market are the Asia Pacific, Americas, Europe, and the Middle East and Africa. The Asia Pacific is leading the butadiene rubber market. The Asia Pacific holds about 60% of revenues, followed by Western Europe and North America. South Korea, Japan, and India are the regions contributing to the growth of butadiene rubber market share.
Key company profile in the Global Butadiene Rubber Market are Arlanxeo Holding BV, Asahi Kasei, Bridgestone Corporation, Goodyear Tire and Rubber Company, JSR Corporation, LG Chem Ltd., PetroChina, and Sinopec Corp. (Selection), Kumho Petrochemical, Versalis, JSR, Sibur and Lanxess.
Butadiene Rubber Market Scope
|Forecast Unit||Value (USD)|
|Segment Covered||By Application, By Products, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Kumho Petrochemical, Versalis, JSR, Sibur and Lanxess|
Key segments of the Butadiene Rubber Market
by Type, 2021 to 2030 (USD Million)
- Medium coking coal
- Pulverized coal injection coal
- Semi-soft coking coal
- Hard coking coal
By Application, 2021 to 2030 (USD Million)
- Power Industry
Region Overview, 2021 to 2030 (USD Million)
- North America
- United States of America
- the Netherlands
- The United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America