Also monikered as 1, 3-butadiene, Butadiene is essentially a non-corrosive colorless gas that is known to condense to a liquid state at – 4.5 °C and is characterized by a mildly aromatic odor. Commercially manufactured through the means of extractive distillation from crude butylene concentration (C4) stream which is a byproduct of propylene and ethylene production, according to the American Chemistry Council it doesn’t have any consumer use but is employed as a chemical intermediate and as a monomer in the manufacture of polymers Viz. synthetic rubbers or elastomers that comprises styrene-butadiene rubber (SBR), polychloroprene (Neoprene), polybutadiene rubber (PBR), and nitrile rubber (NR) among others. It is also used in the manufacturing of polymers, plastics, and latexes. Moreover, SBR and PBR are used to manufactured plastic materials and tires. Whereas carpets and paper coatings are manufactured with the use of Styrene-butadiene latex. While wetsuits, waders, gloves, and foams are produced by employing Neoprene. Moreover, NR is used in the production of seals, hoses, gloves, and gaskets. Further acrylonitrile-butadiene-styrene (ABS) resins which is impact-resistant engineering thermoplastic is produced using butadiene-based rubbers which has a myriad of end-use applications in Viz. electronic enclosures, computer keyboards, pipes, and fittings among others. Butadiene also goes into the manufacturing of adiponitrile which is essentially a precursor for nylon-6, 6 which is ultimately used to produced carpets, plastic parts, and textiles.
With such expansive applications which are essential for the smooth functioning of industries that are inclusive of but not limited to healthcare, consumer products, building and construction and automobile industries that in turn are driven by increasing availability of disposable income, the rising pool of middle-income group, an increasing global population as well as increased susceptibility to hospital-acquired infections (HAI) or nosocomial infections, as termed by WHO along with the aging demographics and a surge in chronic conditions amongst the global population are few of the plethora factors that are poised to effectuate a meteoric rise of the Butadiene Market that is forecasted to grow at a CAGR of 1.59% form the market value of US$14.386 billion in 2019 to attain a market size of US$15.815 billion in 2025. The chemicals and materials industry is an integral part of our daily lives.
Further, with respect to saving lives, prevention of infection the healthcare industry is one of the major consumers of the products that are produced using butadiene. To provide a contextual perspective it is pertinent to note that as of 2017 there were 2.6 million hospital beds available for use across the EU-28. Besides, with regards to the average length of hospital stay for in-patients in 2017, it ranged from 5.3 days in Bulgaria to 9.1 days in France, among which the Netherlands accounted for 4.5 days and The Czech Republic and Hungary accounted for 9.6 days and 9.8 days respectively. Moreover, in 2018 in the EU-27, the total expenditure of general governments on 'health' amounted to EUR 944 billion or 7.0 % of GDP that also reflects the investment in medical supplies [Source – Eurostat]. To this end, the extent of the market growth of a particular medical supply market – Neoprene (Polychloroprene) Surgical Glove Market which as per Knowledge Sourcing Intelligence has been forecasted to grow at a CAGR of 5.13% form the market value of US$267.355 million in 2019 to reach a market size of US$360.866 million by 2025, is a pertinent consideration that in a certain manner is reflective of the demand driving the growth of the global butadiene market.
The Acrylonitrile Butadiene Styrene (ABS) segment is poised to occupy a significant share of the market partly contributing to the market growth
The rising electronics industry is expected to drive the expansion of this segment facilitating healthy global butadiene market growth. For instance global mechanical keyboard market which according to Knowledge Sourcing Intelligence has been forecasted to grow at a CAGR of 10.51% from the market value of US$1.164 billion in 2019 to reach a market size of US$2.120 billion by 2025. Thus, from such a robust estimation the magnitude of the application of Acrylonitrile Butadiene Styrene (ABS) is discernible reaffirming the growing share of ABS in the global butadiene market. Similarly, another development in the semiconductor industry is that of the 3D printing market which according to Knowledge Sourcing Intelligence has been forecasted to grow at a CAGR of 27.59% from the market value of US$9.190 billion in 2018 to reach a market size of US$39.640 billion by 2024 that facilitates the production of products with complex shapes with relatively fewer materials which is one of the key factors that has the potential to entice large numbers of manufacturers. Presently Aerospace and manufacturing industries are prime drivers of the 3D printing market since the technology is majorly employed for prototyping, tooling, and creating complex geometries. Its adoption is growing at a significant pace due to the recognition of the benefits of improving margins by reducing manufacturing costs of the increasing number of industries like manufacturing, automotive, construction, and healthcare. Thus, market players are continuously working towards making 3D printing technologies commercially available not only at the industrial level but also for personal use which is boosting the market growth. This development has necessitated innovations in 3D printing materials that have effectuated the development of the ABS 3D Printing material market which according to Knowledge Sourcing Intelligence has been forecasted to grow at a CAGR of 36.09% during the forecast period of 2018 to 2024. The expanding consumer electronics industry in the APAC region as a response to the growing investment in product development catering to the insatiable demand for consumer electronics are expected to further augment the expansion of the Acrylonitrile Butadiene Styrene (ABS) segment aiding the growth of the butadiene market.