Butadiene Extraction Market Segmentation by Process (Catalytic Dehydrogenation, Aqueous NMP, Houdry Catadiene, and Others); by Application (Thermoplastics, Synthetic Rubber, Adhesive and Sealants, Resin, and Others); and by End-User (Automotive, Construction, Textile, Paper and Plastics, and Others) – Global Demand Analysis & Opportunity Outlook 2031
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
November, 2021: Asahi Kasei Corporation to produce sustainable solution-polymerized styrene-butadiene rubber (S-SBR) using the sustainable butadiene.
October, 2021: Shell Oil Products US announced the acquisition of Texas Petroleum Group, LLC, to grow the company-owned retail sites in the U.S.
Ans: Growing demand for butadiene amongst the automotive and construction sector is estimated to boost the market growth.
Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2031.
Ans: The Asia Pacific region is anticipated to provide more business opportunities over the forecast period owing to the presence of major chemical manufacturers in the region.
Ans: The major players in the market are Reliance Industries Limited, Qatar Petroleum, ZEON Corporation, TPC Group Inc., Indian Oil Corporation Limited, Evonik Industries AG, Royal Dutch Shell plc, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by process, application, end-user, and by region.
Ans: The automotive segment is anticipated to hold largest market size over the forecast period owing to the use of butadiene for making tires.
Ans: High risk of accident due to the inflammable nature of butadiene is estimated to hamper the market growth.
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