Asia-Pacific butadiene market is expected to cross US$14000 mln by 2019

26-Mar-15

Driven by growing derivative demand in the region, the Asia-Pacific butadiene market is estimated to reach US$14918.3 mln by 2019, at a CAGR of 7.5% from 2014 to 2019, as per Micro Market Monitor. Butadiene is a basic petrochemical that is majorly obtained as a by-product from the manufacture of ethylene and propylene. The butadiene market is driven due to the growing demand for its derivatives that include SBR, PBR, ABS, and others. The largest application segment of butadiene is styrene butadiene rubber (SBR), which is principally used to manufacture automobile tires. SBR is also used in adhesives, sealants, coatings, and rubber articles such as shoe soles. The global butadiene market is largely driven by the demand for elastomers, which are used to manufacture tires. The rising demand due to growth of downstream applications is set to drive and retain the market growth potential in the coming years. It remains at a reassuring position for the existing players of the Asia-Pacific market. The countries included in the region are China, South Korea, Japan, and India. The butadiene market in Asia-Pacific is the largest market, globally, and is expected to grow at a CAGR of over 7% from 2014 to 2019. In 2014, the market in China accounted for the maximum consumption in the region. The Butadiene market in Europe is experiencing strong growth that is expected to get stronger in the future, which is majorly due to the growing demand for its derivatives, which includes SBR, PBR and ABS among others. The European butadiene market is projected to grow at CAGR of 4.4% from 2012 to 2018, largely driven by their extensive use in manufacture of tires, since Germany is one of the major hubs for the manufacturing of automobiles.