LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Butadiene Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the chemicals industry. This report breaks down the data and analysis behind the procurement of butadiene and acts as an all-inclusive guide for making smart purchasing decisions.
“The demand growth for butadiene from emerging markets such as APAC and MEA is expected to be the highest during the forecast period,” says SpendEdge procurement analyst A Kowshik. “Also, the global demand for bio-butadiene is expected to increase over the forecast period owing to the growing focus on the use of renewable raw materials by suppliers,” added Kowshik.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Butadiene Market:
- Increased focus on production of bio-butadiene by suppliers
- Growing capacity additions for butadiene in Europe leading to higher exports
- The rise in R&D initiatives for development of new product formulations
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Increased focus on production of bio-butadiene by suppliers:
Globally, there is a rise in the popularity of bio-rubbers made from bio-butadiene. This has prompted several suppliers in the industry to invest in technologies for the production of bio-butadiene. The suppliers that are expanding their bio-butadiene production capacities include Versalis and Synthos. Leading tire manufacturers are also focusing on higher fuel economy standards and are partnering with leading suppliers for biomass-to-butadiene processing. This offers many benefits for the buyers including the increase in production capacities of bio-butadiene.
Growing capacity additions for butadiene in Europe leading to higher exports:
Significant capacity additions for the production of butadiene in countries such as Austria, Belgium, and Germany are expected to increase the surplus of butadiene in the region. The export of butadiene from Europe will significantly increase due to the growing demand and supply shortages in APAC and North America. Such capacity additions enable buyers to benefit from cost-effective butadiene products from the region.
The rise in R&D initiatives for development of new product formulations:
Leading suppliers in this market space are increasing their R&D spend to develop new formulations with enhanced reactivity and performance. The R&D activities are aimed at developing products that can cater to industry-specific requirements. Moreover, there is an increase in the focus of suppliers in exploring opportunities for bio-based butadiene; this is expected to result in innovative butadiene product offerings during the forecast period.
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