The Synthetic & Bio-based Butadiene Market is expected to grow at > 5.0% during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Synthetic & Bio-based Butadiene Market
Synthetic & Bio-based Butadiene Market is likely to witness an impressive CAGR of 5.0% during the forecast period. Rapid growth in the tire and automotive industries globally, leading to an increased product demand in automotive-related industries including raw materials for tires, body parts, and other accessories is the key factor expected to fuel the growth of the market during the forecast period.
Asia-Pacific is estimated to be the leading region of the market during the forecast period on account of increasing disposable income of consumer with the growing population and China being the growth engine of the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Market Scope & Market Segmentation
Synthetic & Bio-based Butadiene Market Share: By Product Type
Based on the product type, the market is segmented as synthetic butadiene and bio-based butadiene. Synthetic butadiene held the largest share of the market in the past few years but due to increasing stringent rules and regulations imposed by the government to use bio-based products in the current scenario, bio-based butadiene is expected to witness significant growth in the market during the forecast period.
Synthetic & Bio-based Butadiene Market Share: By Application Type
Based on the application type, the market is segmented as SB rubber, butadiene rubber, SB latex, ABS, adiponitrile, and others. Butadiene rubber is estimated to account for the major share of the market during the forecast period on account of its capability of offering various added benefits such as better grip and low rolling resistance making it more preferable in the automotive industry. On the other hand, SB latex is estimated to witness significant growth in the market owing to its wide utilization in building and construction activities.
Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
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