Global 1,3 Butadiene (BD) Market By Application (SBR, Butadiene Rubber, SB Latex, ABS, HMDA, NBR) Expected To Reach USD 33.01 Billion By 2020: Grand View Research, Inc
The global market for 1,3 butadiene (http://www.grandviewresearch.com/industryanalysis/butadiene-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. The report “1,3 Butadiene (BD) Market Analysis By Application (Butadiene Rubber, ABS, SBR, SB Latex, NBR, Hexamethylenediamine), Bio-based Opportunities And Segment Forecasts To 2020” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/butadienemarket Further key findings from the study suggest: • Global BD market volume was 10,500 kilo tons in 2013 and is expected to reach 14,179.9 kilo tons by 2020, growing at a CAGR of 4.4% from 2014 to 2020. • Asia Pacific emerged as the largest regional market for BD and accounted for 53.6% of total market volume in 2013. Growth of automotive industry particularly in emerging markets of China and India is expected to remain a key driving factor for the regional market. Asia Pacific is expected to grow at a CAGR of 5.5% from 2014 to 2020.