1,4 Butanediol’s market size was USD 11.5 Billon in 2022. It is expected to reach USD 25.0 Billion by 2032. Growing at a CAGR of 8.31% between 2022 and 2032.
The 1,4 Butanediol market is expected to grow significantly in the next few years due to an increase in demand from various end-use industries. The compound is primarily used as a raw material for producing derivatives such as tetrahydrofuran, gamma-butyrolactone, and polybutylene terephthalate. These derivatives find applications in various industries such as pharmaceuticals, chemical manufacturing, and automotive.
The Asia Pacific region dominates the global 1,4 Butanediol market owing to the presence of major manufacturing companies in China and Japan. Moreover, the increasing population and growing industrialization have led to a surge in demand for 1,4 Butanediol-based products in this region. North America and Europe are also significant markets for 1,4 Butanediol due to their well-established end-use industries.
Key Takeaways
- The global 1,4 butanediol market is expected to grow at a steady rate over the next few years, driven by increasing demand for 1,4 butanediol in various applications such as polyester resins, polyurethanes, and solvents.
- Asia-Pacific is expected to be the largest market for 1,4 butanediol, due to the presence of a large number of manufacturing facilities in the region.
- The COVID-19 pandemic has had a mixed impact on the 1,4 butanediol market. While demand for some applications such as disinfectants has increased, the overall market has been affected by supply chain disruptions and reduced economic activity.
- Environmental concerns regarding the production and disposal of 1,4 butanediol may affect the growth of the market in the future.
- The market for bio-based 1,4 butanediol is also expected to grow, driven by increasing demand for sustainable and environmentally friendly products.
Request for Sample Copy of 1,4-Butanediol Market with Complete TOC and Figures & Graphs@ https://chemicalmarketreports.com/report/global-1-4-butanediol-bdo-market/#requestForSample
Market Report Scope
| Report Attribute | Details |
| The market size value in 2022 | USD 11.5 Bn |
| Revenue forecast by 2032 | USD 25.0 Bn |
| Growth Rate | CAGR Of 8.31% |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World |
| Historical Years | 2017-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
| Long-Term Projected Year | 2032 |
Drivers
1, 4, Butanediol Market drivers Polyurethane is in high demand
1,4 Butanediol (also known as BDO/1.4 BD) is a flexible, medium-sized, liquid diol that has primary hydroxyl reactive properties. It is a linear structure which allows the production of polyurethane adhesives (chain extension and hard segment) with outstanding properties. The chain extender for urethane elastomers is 14BG diol. They are highly resistant to heat, oils and impact, have excellent mechanical properties, and high resistance to damage. Polyurethane is in high demand in electronics, construction, and automotive. To meet these changing needs, a variety of PU products has been created.
Production of Bio-Based BDO
Bio-BDO can also be used in (bio) fabrics as a solvent and building block. Bio-BDO can be used as a building block and solvent in (bio) fabrics and elastic fibers. It is 100% biodegradable. Bio-BDO is an affordable alternative to petroleum-based feedstocks given the current global oil prices. This is why bio-BDO has become so popular among businesses. It is possible to make BDO products using green bio-based technologies due to the high volatility of fossil fuel-based materials and increasing emphasis on climate mitigation technology. Many companies are exploring bio-based chemical process technologies for low-cost sugars. This will help reduce demand for fossil fuels. To increase market share, green chemistry and sustainable feedstocks should be encouraged. Green chemistry is used to create chemicals by government agencies such as the U.S. Environmental Protection Agency (EPA).
Restraints
- Fluctuating prices of raw materials such as butadiene and maleic anhydride used in the production of 1,4 butanediol.
- Stringent environmental regulations regarding the production, use, and disposal of 1,4 butanediol.
- Growing competition from alternative products such as bio-based succinic acid and adipic acid, which can replace 1,4 butanediol in some applications.
- Potential health risks associated with the use and handling of 1,4 butanediol, which may lead to increased safety regulations and restrictions.
- Volatility in the global economy affecting the demand and supply of 1,4 butanediol.
- Dependence of the 1,4 butanediol market on the polyester and polyurethane industries, which can be affected by factors such as changing consumer preferences and economic conditions.
Opportunities
- Growing demand for 1,4 butanediol in various end-use applications, such as polyurethanes and polyester resins, due to its excellent chemical and physical properties.
- Increasing demand for bio-based 1,4 butanediol, which can be produced from renewable resources and can help reduce environmental impact.
- Growing demand for 1,4 butanediol in the pharmaceutical industry as a key intermediate in the production of drugs.
- Increasing use of 1,4 butanediol in the production of agrochemicals and pesticides.
- Rising investment in research and development activities to develop new applications of 1,4 butanediol and improve its properties.
Any query?
Enquire Here For Report Customization: https://chemicalmarketreports.com/report/global-1-4-butanediol-bdo-market/#inquiry
Challenges
- Volatility in the prices of raw materials and energy sources, which can affect the profitability of 1,4 butanediol producers.
- Stringent environmental regulations and safety standards, which can increase production costs and limit the use of 1,4 butanediol in some applications.
- Increasing competition from alternative products and technologies, such as bio-based succinic acid and adipic acid, which can replace 1,4 butanediol in some applications.
- Potential health and safety risks associated with the production, use, and disposal of 1,4 butanediol, which may lead to increased safety regulations and restrictions.
- Dependence on a few key end-use industries, such as the polyester and polyurethane industries, which can be affected by changing consumer preferences and economic conditions.
Key Market Players:
- BioAmber Inc.
- BASF SE
- ExxonMobil Chemicals
- International Specialty Products
- Mitsubishi Chemical Corporation
- Invista
- LyondellBasell Industries and The Dow Chemical Company.
- Myriant Corporation
- Dairen Chemical Corporation
- Toray Industries Inc.
- Sipchem
- Genomatica
Type
- Industry Grade
- Food Grade
- Pharmaceutical Grade
Application
- Tetrahydrofuran (THF)
- Polybutylene Terephthalate (PBT)
- Gamma-Butyrolactone (GBL)
- Polyurethanes (PU)
- Others
Recent development
* In June 2021, Cargill and HELM formed a partnership to construct a biobased intermediate plant at their biotechnology campus. To meet stringent product supply chain demands, this facility will be operational by 2024.
* April 2021, Dymon Co., Ltd. and Mitsubishi Chemical Corporation announced a partnership agreement. This space-development venture will develop robots and explore outer space – becoming the first private company to do so.
* Daicel Corp. opened a new production line at its Aboshi Plant in June 2019 to manufacture 1, 3 and butanediols.
About Market.us
Market.US (Powered by Prudour Private Limited) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report providing firm.
Contact Details:
Global Business Development Team – Market.us
Address: 420 Lexington Avenue, Suite 300 New York City, NY 10170, United States
Phone: +1 718 618 4351 (International), Phone: +91 78878 22626 (Asia)
Email: [email protected]
