Future Growth Analysis of Bio-Butadiene Market: Asia Pacific Projected to be the Most Attractive Regional Market Through 2029
CASTLETON, CALIFORNIA, UNITED STATES, August 14, 2023/EINPresswire.com/ — The global Bio-Butadiene market report offers fine intelligence that prepares market players to compete well against their toughest competitors on the basis of growth, sales, and other vital factors. The research study lays emphasis on key growth opportunities and market trends apart from critical market dynamics including market drivers and challenges. The report presents a detailed analysis of the competitive landscape along with company profiling of key players competing in the global Bio-Butadiene market. The authors of the report make it a point to provide readers with a complete evaluation of the vendor landscape and inform them about current and future changes therein.
Due to the COVID-19 pandemic, the global Bio-Butadiene market size is estimated to be worth 317.9 K USD in 2022 and is forecast to a readjusted size of 48192 K USD by 2029 with a CAGR of 101.31% during the review period.
Global core bio-butadiene manufacturers include Synthos, Braskem, Genomatica & Versalis, Biokemik (Biosyncaucho) and LanzaTech & Invista. The top 1 company holds a share over 80%. Europe is the largest market, with a share over 80%, followed by United States with the share about 10%. by Type, the Bio-Butadiene can be split into One-step Methods and Multi-step Methods. One-step Methods is the largest segment, with a share over 99%. In terms of application, the largest application is synthetic rubber, followed by thermo-plastic elastomers.
Bio-butadiene is a renewable alternative to traditional butadiene, which is a key building block for various chemicals and materials, including synthetic rubber. Traditional butadiene is primarily derived from the cracking of crude oil or natural gas liquids. Bio-butadiene, on the other hand, is produced from biomass sources, such as sugarcane, corn, or other plant-based feedstocks.
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The bio-butadiene market had been gaining attention due to several reasons:
1. Sustainability and Environmental Concerns: With the increasing emphasis on reducing greenhouse gas emissions and dependence on fossil fuels, bio-based alternatives like bio-butadiene offer a more sustainable option.
2. Renewable Feedstocks: Bio-butadiene production relies on renewable resources, such as plant-based feedstocks, which can help mitigate concerns related to resource depletion.
3. Market Diversification: The bio-butadiene market aimed to provide an alternative source of butadiene to reduce the chemical industry’s reliance on fossil fuels.
4. Regulatory Incentives: Some regions and governments were implementing policies and incentives to encourage the adoption of bio-based products, which could positively impact the bio-butadiene market.
5. Industrial Applications: Butadiene is a critical component in the production of synthetic rubber, which is used in various industries, including automotive, tire manufacturing, and construction. Bio-butadiene aimed to serve as a greener substitute in these applications.
It’s important to note that the development and adoption of the bio-butadiene market could be influenced by factors such as technological advancements, feedstock availability, economic considerations, and regulatory changes.
Key Players Mentioned in the Global Bio-Butadiene Market Research Report:
Genomatica & Versalis
LanzaTech & Invista
Global Bio-Butadiene Market Segmentation by Product:
One Step Method
Global Bio-Butadiene Market Segmentation by Application:
Our market analysts are experts in deeply segmenting the global Bio-Butadiene market and thoroughly evaluating the growth potential of each and every segment studied in the report. Right at the beginning of the research study, the segments are compared on the basis of consumption and growth rate for a review period of nine years.
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