Buta-1,3-Diene And Isoprene Market

The article discusses the global market for buta-1,3-diene and isoprene, highlighting an upward consumption trend with a projected CAGR of 4.4% and a market volume of 27M tons by 2030. It provides detailed analysis of consumption patterns, production volumes, exports, and imports, as well as the key countries driving the market growth. The data shows fluctuations in consumption and production over the years, with notable growth rates in the United States and China. The article also analyzes the market value and pricing trends, revealing shifts in export and import prices by country. Overall, the global market for buta-1,3-diene and isoprene is expected to witness continued growth in the coming years.

Market Forecast

Driven by increasing demand for buta-1,3-diene and isoprene worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market volume to 27M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.5% for the period from 2022 to 2030, which is projected to bring the market value to $41.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Buta-1,3-Diene And Isoprene

In 2022, consumption of buta-1,3-diene and isoprene decreased by -3.6% to 19M tons for the first time since 2019, thus ending a two-year rising trend. Overall, the total consumption indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +64.1% against 2013 indices. Over the period under review, global consumption reached the peak volume at 20M tons in 2021, and then dropped modestly in the following year.

The global buta-1,3-diene and isoprene market revenue shrank to $25B in 2022, declining by -8.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market attained the peak level at $27.2B in 2021, and then dropped in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (3.3M tons), the United States (2.4M tons) and India (1.5M tons), together accounting for 37% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the United States (with a CAGR of +12.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($4.9B), the United States ($2.6B) and India ($1.6B) were the countries with the highest levels of market value in 2022, with a combined 36% share of the global market.

Among the main consuming countries, the United States, with a CAGR of +10.4%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of buta-1,3-diene and isoprene per capita consumption in 2022 were France (14 kg per person), Japan (8.1 kg per person) and the UK (7.1 kg per person).

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +12.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Buta-1,3-Diene And Isoprene

After two years of growth, production of buta-1,3-diene and isoprene decreased by -2.5% to 19M tons in 2022. Overall, the total production indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +68.3% against 2013 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 15%. Over the period under review, global production hit record highs at 20M tons in 2021, and then shrank in the following year.

In value terms, buta-1,3-diene and isoprene production fell to $24B in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 30% against the previous year. Over the period under review, global production attained the peak level at $26.2B in 2021, and then fell in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (3.3M tons), the United States (2.1M tons) and India (1.6M tons), with a combined 36% share of global production.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +15.8%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Buta-1,3-Diene And Isoprene

Global buta-1,3-diene and isoprene imports contracted sharply to 2M tons in 2022, waning by -17.8% against 2021 figures. Over the period under review, imports recorded a slight contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 17%. Global imports peaked at 2.4M tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, buta-1,3-diene and isoprene imports fell to $2.5B in 2022. In general, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2021 with an increase of 71%. Global imports peaked at $5.9B in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports By Country

The United States (359K tons), France (243K tons), South Korea (206K tons), China (171K tons), Taiwan (Chinese) (144K tons), Malaysia (131K tons), Japan (105K tons), the Netherlands (94K tons), Poland (90K tons), Belgium (76K tons), the Czech Republic (67K tons) and Indonesia (64K tons) represented roughly 89% of total imports in 2022.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +17.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest buta-1,3-diene and isoprene importing markets worldwide were the United States ($592M), France ($311M) and South Korea ($254M), together accounting for 46% of global imports. China, Taiwan (Chinese), Japan, Malaysia, Poland, the Netherlands, Belgium, the Czech Republic and Indonesia lagged somewhat behind, together comprising a further 43%.

The Czech Republic, with a CAGR of +12.3%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced mixed trends in the imports figures.

Import Prices By Country

In 2022, the average buta-1,3-diene and isoprene import price amounted to $1,290 per ton, rising by 13% against the previous year. In general, the import price, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2021 an increase of 74%. Global import price peaked at $2,485 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($1,646 per ton), while China ($991 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (-4.7%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Buta-1,3-Diene And Isoprene

In 2022, global exports of buta-1,3-diene and isoprene dropped to 2.3M tons, reducing by -7.9% on the year before. In general, exports continue to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 17% against the previous year. Over the period under review, the global exports reached the peak figure at 2.7M tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, buta-1,3-diene and isoprene exports reached $2.7B in 2022. Over the period under review, exports showed a deep reduction. The growth pace was the most rapid in 2021 with an increase of 65% against the previous year. The global exports peaked at $5.3B in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, the Netherlands (539K tons), distantly followed by South Korea (242K tons), Germany (217K tons), Brazil (193K tons), Singapore (155K tons), Belgium (133K tons), India (127K tons) and China (126K tons) represented the main exporters of buta-1,3-diene and isoprene, together generating 76% of total exports. Taiwan (Chinese) (75K tons), Malaysia (58K tons), the United States (56K tons), Hungary (46K tons) and Iran (45K tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to buta-1,3-diene and isoprene exports from the Netherlands stood at -4.1%. At the same time, Hungary (+20.1%), Malaysia (+17.0%), Belgium (+12.5%), Brazil (+4.0%) and China (+2.9%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in the world, with a CAGR of +20.1% from 2012-2022. India experienced a relatively flat trend pattern. By contrast, Singapore (-1.0%), Taiwan (Chinese) (-1.4%), South Korea (-1.5%), the United States (-2.6%), Iran (-3.3%) and Germany (-4.6%) illustrated a downward trend over the same period. Belgium (+4.3 p.p.), Brazil (+3.7 p.p.), Malaysia (+2.1 p.p.), China (+2.1 p.p.) and Hungary (+2 p.p.) significantly strengthened its position in terms of the global exports, while Germany and the Netherlands saw its share reduced by -3.2% and -6.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($619M) remains the largest buta-1,3-diene and isoprene supplier worldwide, comprising 23% of global exports. The second position in the ranking was taken by South Korea ($295M), with an 11% share of global exports. It was followed by Germany, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the Netherlands totaled -4.9%. In the other countries, the average annual rates were as follows: South Korea (-8.0% per year) and Germany (-9.5% per year).

Export Prices By Country

The average buta-1,3-diene and isoprene export price stood at $1,168 per ton in 2022, picking up by 11% against the previous year. Overall, the export price, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 72% against the previous year. Over the period under review, the average export prices hit record highs at $1,942 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($1,449 per ton), while India ($845 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+9.6%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform