The global 1,4 butanediol market size is expected to reach USD 13.41 billion by 2030, registering a CAGR of 9.5% from 2023 to 2030, as per the new report by Grand View Research, Inc. The growth of 1,4 butanediol (BDO) is attributed to its increasing consumption in the production of fibers, plastics, and solvents. The product is also being increasingly used for medicinal formulations, because of which several legislative actions and regulations regarding its safe usage have been initiated. The 1,4 BDO is widely utilized in numerous applications, such as chemical & adhesives manufacturing, fiber & particle composites, plastic processing, and pharmaceuticals, owing to its inherent advantageous characteristics, such as hydrophobicity, chemical resistance, and excellent durability.
The 1,4 BDO produced by the Reppe process, which is particularly popular in China, accounts for more than 40.0% of the global capacity of chemical manufacturing. Major industry participants including Ashland, BASF, and DuPont are utilizing this technology to produce 1,4 BDO and its other derivatives. In this process, acetylene is reacted with formaldehyde to form BDO, which undergoes high-pressure hydrogenation. The COVID-19 virus spread has disrupted economies globally and severely affected the chemical industry's supply chain. The supply chain disruption of 1,4 BDO had an adverse effect on its production and consumption patterns, globally. This has resulted in a decline in market growth during the pandemic.
Request a free sample copy or view report summary: 1,4 Butanediol Market Report
1,4 Butanediol Market Report Highlights
The tetrahydrofuran application segment is projected to grow at the fastest CAGR of 10.2% from 2023 to 2030. This is attributed to increasing use in the applications such as vinyl films, elastomers, printing inks, coatings, and adhesives
In terms of application, the polyurethane (PU) segment will witness a CAGR of 8.1% from 2023 to 2030. The growth is driven by the increasing demand for PU in the manufacturing of foam seating, elastomeric wheels & tires, and electronic instruments
Asia Pacific is estimated to register a CAGR of 9.5% from 2023 to 2030 due to the presence of rapidly growing industries, such as automotive and construction, and major market players in the region
Europe will witness the fastest CAGR of 10.1% from 2023 to 2030. The growth is augmented by the presence of major market players, such as BASF SE, LyondellBasell, and Evonik Industries AG
Volatility in prices of the raw materials has been affecting the profitability of the manufacturers, which, in turn, is expected to hinder the market growth during the coming years
The spread of COVID-19 has negatively impacted the chemical industry, resulting in a decline in its market growth. The shutdown of chemical manufacturing companies for a prolonged period has led to disruptions in the supply chain of 1,4 BDO
Access Press Release @ https://www.grandviewresearch.com/press-release/global-1-4-butanediol-market
1,4 Butanediol Market Segmentation
Grand View Research has segmented the global 1,4 butanediol market based on application and region:
1,4 Butanediol Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Tetrahydrofuran (THF)
γ-Butyrolactone (GBL)
Polybutylene Terephthalate (PBT)
Polyurethane
Other Applications
1,4 Butanediol Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Russia
Asia Pacific
China
India
Japan
South Korea
Australia
Vietnam
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
South Africa
List of Key Players in the 1,4 Butanediol Market
BASF SE
Ashland
DCC
Mitsubishi Chemical Group Corporation.
Evonik Industries AG
Lyondell Basell Industries Holdings B.V.
Sipchem Company
SINOPEC (China Petrochemical Corporation)
Genomatica, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Sign in to leave a comment.