(PRBuzz.com) January 31, 2013 -- The world market for 1,3 butadiene is largely driven by demand for elastomers due to their extensive use in manufacture of tires. The global market for 1,3 butadiene was estimated at USD 22 billion for the year 2011, and is estimated to rise by 45.6% in the next 5 years and reach a market size of approximately 32 billion by year 2018.
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The major consumers of butadiene are regions such as China, Europe and U.S. These regions have the highest demand for elastomers, which account for 68% of the global butadiene market demand. Apart from demand from elastomers in the tire industry, the other downstream applications of butadiene include elastomers demand from industries such as carpet backing, footwear, mechanical belts, nitrile rubber hoses, and so on.
Use of butadiene in manufacture of plastics as a copolymer is another significant sector, driving the global market demand. ABS (Acrylonitrile Butadiene Styrene) resins are the highest share holder under the plastics category. ABS accounts for 12% of the total market demand and are expected to grow at 5.4% CAGR from 2012 - 2017.
However, with development of alternate renewable materials, which is now used in tire manufacture, the demand for butadiene in the tire industry is expected to see a fall. The stringent environment regulations in Europe are further expected to dent the market growth in the developed regions. However, the rising demand due to growth of end downstream applications is set to drive and retain the market growth potential in the coming years. These emerging markets include Middle East and Asia Pacific regions such as China and India. Amidst robust economical growth, China is forecasted to become the largest producer and consumer of butadiene in the coming years. Asia Pacific accounts for the largest share of 45%, whereas North America accounts for 23% only.
The global butadiene market is dominated by key players such as Shell Chemicals, Dow Chemicals, Evonik Industries AG, BASF, and many more who are looking for opportunities in emerging markets.
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