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Synthetic & Bio-based Butadiene Market by Product (Synthetic, Biobased), by Application (SB Rubber, Butadiene Rubber, SB Latex, ABS, Adiponitrile, Others), by North America (U.S., Canada), by Europe (Germany, UK, France, Italy, Spain, Netherlands, Sweden, Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Thailand, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Rest of Latin America), by MEA (Saudi Arabia, UAE, South Africa, Egypt, Nigeria, Rest of MEA) Forecast 2025-2033
The size of the Synthetic & Bio-based Butadiene Market was valued at USD 22 Billion in 2023 and is projected to reach USD 31.79 Billion by 2032, with an expected CAGR of 5.4% during the forecast period. The synthetic and bio-based butadiene market is expanding, driven by its extensive applications in rubber manufacturing, plastics, and chemicals. Butadiene, a key monomer, is crucial in producing synthetic rubber, used extensively in automotive tires, footwear, and industrial goods. Synthetic butadiene is derived from petrochemicals, while bio-based alternatives are produced from renewable sources like biomass, addressing environmental concerns. Growing demand for eco-friendly products has propelled the adoption of bio-based butadiene, particularly in regions with stringent environmental regulations. The automotive industry's growth, coupled with rising demand for lightweight and durable materials, is a significant driver for the market. However, fluctuating crude oil prices and complex production processes for bio-based butadiene pose challenges. Ongoing advancements in bio-refinery technologies and increased focus on sustainability are expected to reduce production costs and improve scalability. Key players in the market are investing in R&D to enhance product performance and expand application scope. As industries prioritize sustainability, the synthetic and bio-based butadiene market is poised for significant growth, supported by evolving consumer preferences and regulatory frameworks.
The Synthetic & Bio-based Butadiene Market is moderately concentrated, with a few major players holding a significant market share. These include BASF SE, Eni S.p.A., Evonik Industries, ExxonMobil Corporation, and Royal Dutch Shell. The industry is characterized by continuous innovation, driven by the need for improved product performance and sustainability. Regulations related to environmental protection and product safety also play a crucial role in shaping the market landscape.
The market is witnessing a growing shift towards bio-based butadiene due to its eco-friendly nature. This trend is expected to accelerate in the coming years as governments and end-users become more environmentally conscious. Technological advancements, such as improved production processes and catalyst development, are also driving market growth. The increasing adoption of butadiene in various applications, including automotive, construction, and packaging, is further contributing to the market's expansion.
Market Size and Growth: The market size is estimated at 22 Billion in 2023 and is projected to reach 29 Billion by 2030, expanding at a CAGR of 5.4%. Market Share: BASF SE is the leading player with a market share of 25%, followed by Eni S.p.A. with 20% and ExxonMobil Corporation with 18%.
2. Application
Aspects | Details |
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Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 5.4% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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