1-4 Butanediol Market

1-4 Butanediol Market Size

1,4 Butanediol Market to surpass USD 17.16 billion by 2031 from USD 4.13 billion in 2021 at a CAGR of 7.4% in the coming years, i.e., 2021-31

1,4 Butanediol, abbreviated BDO, is an organic compound that is primarily used as a solvent in industrial cleaners and glue removers such as tetrahydrofuran (THF). BDO is a dibasic alcohol with a saturated carbon-4 straight chain. 1, 4, Butanediol is a colorless, oily, viscous liquid that dissolves readily in water and other chemicals. As a result, it is used in the production of many other organic chemicals, such as tetrahydrofuran (THF), which is then used in the production of other chemicals that serve as an intermediate for the production of spandex fibres and elastomers, as well as the production of PBT resins. These chemicals are widely used in fibres, engineering plastics, medicines, cosmetics, synthetic leather, pesticides, plasticizers, hardeners, solvents, and rust removers, among other things.

Market Highlights

Global 1,4 Butanediol Market is expected to project a notable CAGR of 7.4% in 2031.

Global 1,4 Butanediol Marketto surpass USD 17.16 billion by 2031 from USD 4.13 billion in 2021 at a CAGR of 7.4% in the coming years, i.e., 2021-31. The global 1,4 butanediol market is expanding due to increased demand from the THF industry. Furthermore, the expansion of emerging markets, combined with rising demand for PU, will drive the global market forward. In addition, increased awareness of the processing and utility benefits of this compound and other BDO derivatives, as well as high demand from the THF industry, all have an impact on the market.Furthermore, the development of BDO using coal-to-chemical technology, as well as the production of bio-based BDO, provides profitable opportunities to market participants during the forecast period.

Global 1,4 Butanediol Market: Segments

Reppe process segment to grow with the highest CAGR during 2021-31

Based on type, global 1,4 Butanediol Market is fragmented into reppe process, davy process, butadiene process, propylene oxide process and others. During the forecasted period, reppe process held the largest market share. The Reppe process is one of the most popular and practical methods for producing BDO. It can be more cost-effective than other processes, resulting in a high production rate at a low cost when compared to others such as the davy process or butadiene process. The davy process is also expected to grow rapidly. It is a chemical manufacturing method that employs carbon monoxide and hydrogen gas in the presence of an iron oxide catalyst to produce butanediol (BDO).

THF segment to grow with the highest CAGR during 2021-31

Global 1,4 Butanediol Market is classified on the basis of application into THF, PBT, GBL, PU, and others. In the forecasted period, THF is the largest distribution channel in the 1,4 Butanediol market. Tetrahydrofuran and polytetramethylene ether glycol (PTMEG), polybutylene terephthalate (PBT), gamma-butyrolactone (GBL), polyurethane (PU), and other solvents rely on it as an important intermediate chemical. These chemicals are widely used in fibres, engineering plastics, medicines, cosmetics, synthetic leather, pesticides, plasticizers, hardeners, solvents, and rust removers, among other things. Tetrahydrofuran is the largest application market for BDO, accounting for the lion's share of the BDO market.

Market Dynamics

Drivers

Rising demand for PBT and emphasis on eco-friendly products

One of the major factors driving the growth of the 1, 4 butanediol market is the increase in demand for PBT around the world. The widespread usage of 1, 4 Butanediol in various applications such as the production of PTMEG, and the increased emphasis on eco-friendly products drive market growth in the forecasted period of 2021-31. The increasing use of its derivates such as tetrahydrofuran (THF) in the production of polytetramethylether glycols is driving the growth of the global 1,4 butanediol market (PTMEG). Due to its wide liquid range, it is later processed into spandex, which is used as an intermediate natural gas odorant. Furthermore, stringent regulations, an increase in demand for recyclable and sustainable products, a surge in investment, rapid urbanisation, and an increase in environmental concerns, as well as the depletion of nonrenewable resources, all have a positive impact on the 1, 4 butanediol market.

Increase in awareness and research and development

In addition, increased awareness of the processing and utility benefits of this compound and other BDO derivatives, as well as high demand from the THF industry, all have an impact on the market.Concerns about the environment, as well as the depletion of nonrenewable resources such as crude oil and natural gas, have prompted the development of initiatives and technologies that use bio-based resources for production. Furthermore, the development of BDO using coal-to-chemical technology, as well as the production of bio-based BDO, provides profitable opportunities to market participants during the forecast period.

Restraint

Volatility of raw materials and high manufacturing costs

The market's growth will be hampered by the volatility of raw material prices. Furthermore, the manufacturing costs associated with the production of 1,4 butanediol may impede market growth in the near future.

Global 1,4 Butanediol Market:

Key Players

• BASF
• Dairen Chemical
• Lyondellbasell
• Ashland
• Nanya Plastics Corporation
• Mitsubishi Chemical Corporation
• INVISTA
• MarkorChem
• Xinjiang Tianye
• Other Prominent Players

     (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Global 1,4 Butanediol Market: Regions

Global 1,4 Butanediol Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Throughout the forecast period, APAC is expected to dominate the 1,4 Butanediol market. Key market players are expanding their production bases to developing economies in the Asia Pacific region, which will aid in the introduction of new technologies and drive market innovation. These are some of the factors that are propelling the global 1,4 butanediol market forward.

Global1,4 Butanediol Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Global 1,4 Butanediol Market report also contains analysis on:

1,4 Butanediol Market Segments:

• By Type
  • Reppe Process
  • Davy Process
  • Butadiene Process
  • Propylene Oxide Process
  • Others
• By Application
  • THF
  • PBT
  • GBL
  • PU
  • Others
• 1,4 Butanediol Market Dynamics
• 1,4 Butanediol Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

1,4 Butanediol Market Report Scope and Segmentation

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