The global Butadiene Market is estimated to be valued at US$ 13612.12 Mn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Butadiene is a colorless gas widely used to produce synthetic rubber known as styrene-butadiene rubber. Styrene-butadiene rubber possesses properties such as high-strength, abrasion resistance and aging resistance which makes it suitable to produce tires, adhesives, footwear and other rubber products.

Market key trends:
One of the key trends in the Butadiene market is the increasing demand for tires & other rubber products from the automotive industry. According to International Organization of Motor Vehicle Manufacturers, global car production increased from around 83 million units in 2015 to over 94 million units in 2019. With rising vehicle ownership, there is a parallel rise in demand for replacement tires and other automotive rubber components. Automotive industry accounts for over 60% of the global Styrene-Butadiene rubber consumption which in turn is boosting the demand for Butadiene in the forecast period.

SWOT Analysis
Strength: Butadiene has wide applications in manufacturing synthetic rubber which is used in various industrial sectors like tire, footwear, etc. It also finds usage in plastics and resins which further drives its demand.
Weakness: Stringent environmental regulations over VOC emissions during the production of butadiene pose a major challenge. Fluctuating raw material prices also impact the overall manufacturing cost.
Opportunity: Growing automotive industry along with increasing demand for tires and plastic products offer significant growth prospects for butadiene market. Research towards developing bio-based routes for butadiene production can open new opportunities.
Threats: Availability of substitute products hampers the growth. Fluctuations in crude oil prices affecting the raw material costs poses threat.

Key Takeaways
The Global Butadiene Market Demand  is expected to witness high growth, exhibiting CAGR of 3.6% over the forecast period, due to increasing demand from automotive industry for tires production. Asia Pacific dominates the global butadiene market led by China, India and Japan. China alone accounts for over 35% of the global butadiene capacity owing to presence of large automotive industry in the country.

Regional analysis:
Asia Pacific holds the major share in the global butadiene market led by China, India, Japan, and South Korea. This can be attributed to growing automotive industry and presence of large number of synthetic rubber and plastic manufacturers in the region. Europe and North America are also significant markets driven by demand from tires and plastic industry.

Key players operating in the butadiene market are BASF SE, Braskem, China Petroleum & Chemical Corporation, Dow, Evonik Industries AG, Exxon Mobil Corporation, Formosa Plastics Corporation, INEOS, JSR, Corporation, LG Chem, LOTTE CHEMICAL TITAN HOLDING BERHAD, LyondellBasell Industries Holdings BV, Reliance Industries Limited., Repsol, Royal Dutch Shell Plc, SABIC, TPC Group, and China National Petroleum Corporation. The players focus on capacity expansion strategies to gain major revenue share in the lucrative global market.

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