The global 1,3 Butadiene (BD) market is expected to reach USD 33.01 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for tires (both OEM and replacement) on account of an upturn in the automotive industry, particularly in China, India and Brazil, is expected to remain a key driving factor for the global market. In addition, growing demand for ABS on account of increasing demand for high performance plastics from automotive industry is also expected to have a positive influence on the global market. Volatile raw material prices coupled with stringent regulatory scenario is expected to remain key challenges for market participants. In order to overcome such challenges, industry has shifted its focus towards developing bio-based routes to manufacture 1,3 butadiene.
Butadiene rubber emerged as the leading application segment for BD and accounted for 30.8% of total market volume in 2013. More than two third of butadiene rubber goes for manufacturing tires, thus global tire industry dynamics are a key factor for the growth of this market. HMDA (hexamethylenediamine) is expected to be the fastest growing application market for BD, at an estimated CAGR of 6.8% from 2014 to 2020. Growing demand for nylon 66 resin in major end-use industries such as automotive and electronics is expected to fuel the demand for BD in HMDA.
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www.grandviewresearch.com/industry-analysis/butadiene-market
Further key findings from the study suggest:
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www.grandviewresearch.com/industry-analysis/butadiene-market
Grand View Research has segmented the 1,3 butadiene market on the basis of application and region:
Global 1,3 Butadiene Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
Global 1,3 Butadiene Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)