A report by Transparency Market Research indicates that the global synthetic and bio-based butadiene market is expected to experience robust growth from 2018 to 2026. According to the report, the global synthetic and bio-based butadiene market is expected to witness a substantial CAGR of 5.4% during of the period mentioned. This market growth is a result of growing demand for synthetic and bio-based butadiene in industries like automotive and rubber manufacturing. Moreover, the demand for long life tires and high performance vehicle is increasing day by day. This growing demand is also a major factor responsible for the growth of the global synthetic and bio-based butadiene market from 2018 to 2026, the report states.
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Propelling demand for synthetics drives growth
The synthetic and bio-based butadiene market has been divided into manufactured and bio-based products. Engineered and bio-based butadiene is used as a key raw material in the assembly of elastic styrene butadiene (SBR), elastic polybutadiene (PBR), styrene butadiene latex (SB), etc. The engineering section held a remarkable share of the market in 2017. The fragment is rated to maintain its driving status during the gauge period. Manufactured butadiene comes with C4 feedstock blends. Manufactured butadiene can be used to create acrylonitrile butadiene styrene (ABS) and different subordinates. Based on these developments, the global synthetic and bio-based butadiene market is expected to reach a value of 27.96 billion by 2026.
Growing adoption of bio-based butadiene to propel growth
The generation and interest in bio-based butadiene must fully increase during the conjecture period. The creation of bio-based butadiene is not only intended to reduce dependence on crude oil, but also to make butadiene advertising more cost-oriented. Different nations adapt their tasks to eco-friendly activities, which include limiting the use of crude oils and their side effects. Ascend, popular for green tires and eco-friendly items due to natural concerns, is taking an important role in stimulating interest in bio-based butadiene. This is a root cause propelling the growth of the global synthetic and bio-based butadiene market from 2018 to 2026.
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Asia-Pacific will become the most lucrative region
In terms of volume and value, Asia Pacific accounted for a significant share of the global synthetic and bio-based butadiene market in 2017. Engineered and bio-based butadiene is primarily used in the generation of tires in China and India. These are mainly devoted to tire assembly in the ASEAN automotive sector. Engineered and bio-based butadiene is also used as tars in the paints and coatings industry in the sub-region. The development of the automotive sector has stimulated interest in PBR and SBR articles. Based on these developments, Asia-Pacific is expected to dominate the regional segmentation of the global synthetic and bio-based butadiene market from 2018 to 2026.
The global synthetic and bio-based butadiene market is segmented on the basis of:
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