| Product Code: ETC109783 | Publication Date: Aug 2023 | Product Type: Report | ||
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
The India butadiene market import shipment demonstrated a significant decline with a CAGR of -17.2% from 2020 to 2024. However, there was a remarkable upsurge in growth between 2023 and 2024, with an increase of 84.9%. This indicates a period of contraction followed by a sudden and substantial expansion, showcasing market volatility and potential for recovery.
The India butadiene market is projected to register a CAGR of 4.6% during the forecast period (2024- 2031). The growing demand from the automotive sector, coupled with government initiatives for the development of the tire and rubber industry, are some of factors driving market growth in India.
Increasing Demand from End-Use Industries: Butadiene is used as a raw material in producing synthetic rubbers such as styrene butadiene rubber (SBR), nitrile butadiene rubber (NBR), polybutadiene rubber (PBR) and ethylene propylene diene monomer (EPDM). These synthetic rubbers have several end-use applications, including tires & tubes, automotive components and non-tire industrial rubber goods. Therefore, increasing demand from these end-use industries is expected to drive market growth over the forecast period.
High Volatility in Prices??? Since prices of raw materials associated with production process are very volatile it makes planning difficult since businesses cannot anticipate future costs accurately resulting into higher risks operations affecting profitability margins adversely making it challenging factor restraining growth potentials in India Butadiene market during near future time frame.
Major players operating in India Butadinene market include Reliance Industries Ltd., ExxonMobil Corporation, Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) , Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited(BPCL) etc
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