Asia Pacific Butene-1 Market: Snapshot
The Asia Pacific market for butene-1 is highly consolidated in terms of geography and is dominated by China. While India and ASEAN countries are key contributors to the market’s revenues, they have a scarcity of suppliers as well as large-scale manufacturers of butene-1, and the markets are thus undersupplied. The market in China, on the other hand, is oversupplied and helps satisfy the demand for butene-1 in the rest of the Asia Pacific.
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The market has moderate growth prospects and is expected to exhibit a 4.1% CAGR from 2016 through 2026, rising from a valuation of US$508.6 mn in 2015 to US$787.8 mn by 2026.
Polyethylene Copolymer to Remain Key Application of Butene-1 in Asia Pacific
On the basis of application, the butene-1 market in Asia Pacific is segmented into polyethylene co-monomer, polybutene-1, valeraldehyde, 1, 2-butylene oxide, and n-butyl mercaptan. Of these, the segment of polyethylene segment accounted for a share of nearly 65% of the butene-1 market in Asia Pacific in 2015, followed by polybutylene-1. Rising demand for HDPE (high density polyethylene) and LLDPE (linear low density polyethylene) products in the region is anticipated to keep the segment of polyethylene co-monomer the dominant revenue contributor of the Asia Pacific butene-1 market in the near future as well.
A large number of plastic packaging materials are prepared from polybutylene-1. The flourishing growth in the region’s packaging industry in the past few years, which is a key consumer a variety of plastics, is expected to add to the demand for polybutylene in the next few years. The demand for polybutylene in Asia Pacific is also expected to be driven by the rising market for consumer goods and automotive interiors and exteriors. The segment held a nearly 15% share in the Asia Pacific butene-1 market and is expected to account for a similar share in the market by the end of the forecast period.
China to Retain Top Spot in Asia Pacific Butene-1 Market
On the basis of geography, the butene-1 market in Asia Pacific has been examined for countries such as China, India, and ASEAN countries. China held a 64.7% share in the market in Asia Pacific in 2015 and is expected to remain the dominant regional player throughout the forecast period as well. Since polyethylene is the chief application segment of the butene-1 market, growth of the polyethylene industry in China is anticipated to boost the demand for butene-1 as well, allowing China to remain the dominant market for butene-1.
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Growth in industries such as consumer goods and rising demand for automotive interior and exterior products in China, which has fueled the polybutylene-1 in the country, is also expected to boost the China butene-1 market over the forecast period. The butene-1 market in China is oversupplied owing to the availability of raw materials and presence of key players. The situation has helped satisfy the demand for butene-1 in rest of Asia Pacific. Production of Butene-1 in the ASEAN sub-region is primarily contributed by countries such as Malaysia, Singapore, Thailand, Vietnam, and Philippines. Growing end-user industries and availability of raw materials in ASEAN are anticipated to drive the demand for Butene-1 in the sub-region.
The market is dominated by few companies and poses difficulties for the entry of new vendors. Notable players operating in the butene-1 market in Asia Pacific include Petrochemical Corporation of Singapore (Private) Limited, China Petrochemical Corporation, China National Petroleum Corporation, PetroChina Company Limited, and ONGC Petro additions Limited.
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