The global butadiene market has been forecast to reach a total of 14,536.1 kilotons by 2018, driven by large amounts of growth coming from Asia-Pacific.
Asia-Pacific is the largest consumer of this product and most of its derivatives, consuming approximately half of total global consumption.
According to a recent market report, 'Butadiene Market & its Derivatives: Trends and Forecast to 2018,' China and South Korea represent the biggest consumers of butadiene in the region while India and China are expected to represent the fastest growing areas.
A few of the reasons for the high level growth in this region are growing population, vast economies-developed as well as developing, and favourable investment policies and government initiatives to promote industrial growth.
Butadiene or 1,3-butadiene is a colourless gas that is condensed to liquid just below minus 4.0°C and is highly reactive. It is soluble in alcohol and ether, but insoluble in water and is polymerized easily in the presence of oxygen.
It is obtained as a by-product of the manufacture of ethylene and propylene by selective distillation of cracked naphtha or gas oil stream.
It is an important feedstock to manufacture various chemicals and materials that further serve diverse industries that include automotive, paints, textile, and appliance manufacturing.
Its main application segments include SBR, Polybutadiene Rubber (PBR), Acrylonitrile Butadiene Styrene Resins (ABS), Styrene Butadiene Latex (SB Latex), Adiponitrile, and Nitrile Rubber (NR).
Butadiene is a major feedstock to manufacture SBR, with just less than one third of its total global demand being consumed to manufacture SBR. Butadiene demand by SBR manufacturers is quite high in the U.S., followed by China, South Korea, and Japan.
Subsequently, PBR manufacturers were the second largest consumers of butadiene with a butadiene consumption share difference of 2.4%, compared to SBR manufacturers.
Key players currently dominating the butadiene market include Royal Dutch Shell Plc. (The Netherlands), LyondellBasell Industries N.V. (The Netherlands), TPC Group Inc. (U.S.), Sinopec (China), BASF SE (Germany), ExxonMobil Chemical Company (U.S.), Braskem S.A. (Brazil), and ENI S.p.A (Italy).
For more information on the butadiene market, see the latest research: Butadiene Market Research
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.