Knowledge Sourcing Intelligence announces the publication of a new report on “Butadiene Market - Forecasts from 2020 to 2025” to their offering.
The stratospheric demand for consumer electronics, the growing number of construction projects globally, high R&D investments in automobiles, and the aerospace industry among others are expected to lead to nominal market growth.
As per the report, the global market pertaining to Butadiene is expected to reach US$15.815 billion by 2025, from US$14.386 billion in 2019
A few examples of market developments related to the global butadiene market that is being elucidated is a reaffirmation of the extent to which market players are investing to facilitate a seamless manufacturing operation to ensure the production of commodities that are integral to the functioning of a few industries, as well as instances of strategies, implement by intermediate industries, ultimately influencing the growth of the market.
December 2018 - Butadiene Plant Inauguration
P.T. Synthetic Rubber Indonesia (PTSRI) which is a 55/45 joint venture between Michelin (EPA: ML) and Indonesian petrochemical company Chandra Asri Petrochemical (IDX: TPIA) had reported the inauguration of its plant intended for butadiene rubber and solution styrene-butadiene rubber production. PT Chandra Asri Petrochemical was reported to supplying feedstock including butadiene for the SR plant which is based on Michelin technology.
February 2019 – The award of construction of Butadiene production unit
Bangkok Synthetics Co., Ltd. which is a major C4 downstream product manufacturer of Thailand had reportedly awarded an engineering, procurement, and construction project that involvesthe construction of a production unit with a capacity of producing 80 KTA of 1,3-Butadiene & Butene-1 production unit with a total production capacity 34 KTA, at the formers existing petrochemical complex in Map Ta Phut, Rayong, Thailand. Toyo Engineering Korea Limited which is a subsidiary of Toyo Engineering Corporation (TYO: 6330). The project was reportedly scheduled for completion in 2021
August 2019 – Operationalizing of on-spec butadiene plant
Nanjing Chengzhi Yongqing Energy Technology Co., Ltd had reportedly commenced the operation of its butene-to-butadiene plant. It was reportedly deployed with a proprietary technology called Oxidative Dehydrogenation of Butene-to-Butadiene (ODH) licensed by Wison Engineering Services Co. Ltd. The plant has been designed to produce 100,000 metric tons per year (m.t./yr) of butadiene.
September 2019 – Construction of prototype butadiene plant
The commencement of construction of the first industrial-scale prototype of a plant producing butadiene in France was reportedly announced by Axens, IFPEN, and Michelin under the auspices of the BioButterfly project that aims to produce butadiene from ethanol from biomass (plants) to produce innovative synthetic rubbers that comparatively more environmentally friendly.
February 2020 – Rebuilding of the butadiene processing facility
TPC Group had reportedly stated that it intends to the butadiene processing facility that was a part of the group's southeast Texas petrochemical complex which was destroyed in explosions which had occurred in November 2019
April 2020 – Award of Polybutadiene Production Contract
A consortium comprising Saipem S.p.A. (BIT: SPM) which is an Italian oil field services company and Petrojet which is an Egyptian state-owned multidisciplinary integrated contractor was reportedly awarded a $150 million contract by an Egyptian joint stock company called Egyptian Ethylene & Derivatives Co. (Ethydco) to start a detailed engineering design, procurement, and supply of equipment and materials, construction, pre-commissioning, commissioning up to successful start-up and performance testing of country's first polybutadiene-producing facility with a projected annual production capacity of 36,000 metric tons.
August 2020 – Agreement to construct nitrile butadiene latex manufacturing
Malaysian oil and gas company Petroliam Nasional Berhad (PETRONAS), and South Korean chemical giant LG Chem (KRX: 051910) had reportedly signed an agreement to build a manufacturing plant in Malaysia to produce nitrile butadiene latex which is integral to synthetic rubber gloves production. The plant is scheduled to commence production in 2023 with the commencement of construction slated in 2021.
As a part of the report, the major players operating in the global butadiene market, which have been covered are Zeon Corporation, TPC Group, Shell International B.V., PJSC Nizhnekamskneftekhim, LyondellBasell Industries Holdings B.V., LOTTE Chemical Corporation, JSR Corporation, INEOS, Hengli Petrochemical Co. Ltd., Formosa Petrochemical Corporation, Exxon Mobil Corporation, ENEOS Corporation, CPC Corporation, Chandra Asri Petrochemical, and BASF SE.
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This report segmented the global butadiene market on the basis following terms