Global Butadiene and its Derivatives Market 2017-2021
About Butadiene and Its Derivatives
Butadiene is a type of petrochemical product used in the production of several derivatives, which are primarily used in making synthetic rubber, plastics, resins, and other polymers.
Technavio’s analysts forecast the global butadiene and its derivatives market to grow at a CAGR of 10.16% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global butadiene and its derivatives market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of butadiene and its derivatives.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Butadiene and Its Derivatives Market 2017-2021
Technavio recognizes the following companies as the key players in the global butadiene and its derivatives market: BASF, China Petrochemical Corporation (Sinopec Group), Dow Chemical, ExxonMobil, LyondellBasell Industries, and Royal Dutch Shell.
Other Prominent Vendors in the market are: Braskem, CNOOC Limited, China National Petroleum Corporation (CNPC), Eni, Evonik, Formosa Petrochemical, FUJAN REFINING & PETROCHEMICAL, Genomatica, INEOS, JSR, LANXESS, LG Chem, Lion Elastomers, Nizhnekamskneftekhim, North Huajin Chemical Industries, Reliance Industries, Repsol, SABIC, Synthos, TPC Group, and Zeon.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is prominence of bio-based synthesis and green tires. The growing scarcity in the natural gas and oil feedstock due to higher exploitation have paved the path for alternative sources of raw materials. The harmful effects of the petrochemicals have brought strict regulation, which further brought the requirement of bio-based productions. In the bio-based method, butadiene is manufactured from biomass (plant-derived materials, agriculture waste, and other natural sources). Genomatica in collaboration with Braskem has developed a fermenter where continuous production of butadiene occurs from microorganisms using advanced computational tools.”
According to the report, one of the major drivers for this market is surge in demand for tires and other rubber products. Synthetic rubber acts as an alternative to natural rubber. The factors that have made consumers shift from natural rubber to synthetic rubber are volatile cost of natural rubber, advanced properties of synthetic rubber, and geographic restriction of rubber plantation.
Further, the report states that one of the major factors hindering the growth of this market is demand-supply outages and rise of substitutes. The rapid growth in industrialization and demand for consumer products such as automotive and rubber items have led to excess exploitation of the crude oil and other petrochemical reserves. The oil feedstock and raw materials have been the major source for butadiene and its derivatives. The volatility in crude oil prices along with their depletion state has forced several countries to cut their crude oil production. This has created a demand-supply gap for several end-user industries of crude oil.
BASF, China Petrochemical Corporation (Sinopec Group), Dow Chemical, ExxonMobil, LyondellBasell Industries, Royal Dutch Shell, Braskem, CNOOC Limited, China National Petroleum Corporation (CNPC), Eni, Evonik, Formosa Petrochemical, FUJAN REFINING & PETROCHEMICAL, Genomatica, INEOS, JSR, LANXESS, LG Chem, Lion Elastomers, Nizhnekamskneftekhim, North Huajin Chemical Industries, Reliance Industries, Repsol, SABIC, Synthos, TPC Group, and Zeon.
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