1,4 Butanediol Market

Market Overview:

The global 1,4 butanediol market size reached US$ 7.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.

1,4 butanediol (C4H10O2) is a colorless, oily, and viscous liquid with high solubility in water and other chemicals. It is a primary alcohol and an organic compound produced from petroleum-based substrates such as acetylene, butane, propylene, and butadiene. It is widely used in industrial settings as a solvent and in the manufacturing of some types of plastics, elastic fibers, and polyurethanes. 1,4 butanediol is also used as a raw material in both the organic and fine chemical industries for its excellent environmental characteristics and minimal health risks to workers. As a result, it finds extensive applications across the textile, automotive, chemical, electrical and electronics, papermaking, healthcare, and pharmaceutical industries.

1,4 Butanediol Market Trends:

Significant growth in the automotive industry across the globe is creating a positive outlook for the market. 1,4 butanediol is widely used to produce polybutylene terephthalate (PBT) that allows weight reduction, shock absorption for bumpers, energy absorption, and improves tracking resistance for a range of high-voltage automotive components. In line with this, the widespread product utilization to manufacture polyurethane foams used in most vehicles' seats, armrests, and headrests, where their cushioning properties help reduce the fatigue and stress associated with driving, is acting as another growth-inducing factor. Moreover, the increasing product demand in the industrial sector to produce floor strippers, paint thinners, and other solvent goods is favoring the market growth. Apart from this, the introduction of bio-BDO (bio-butanediol) due to the increasing environmental concerns and depletion of non-renewable resources, such as natural gas and crude oil, is providing an impetus to the market growth. Additionally, the rising product demand in the chemical sector to manufacture derivates, including tetrahydrofuran (THF), gamma-butyrolactone (GBL), and polyurethane (PU), is propelling the market growth. Other factors, including the widespread product utilization to replace illicit chemicals, extensive research and development (R&D) activities, and increasing awareness regarding the processing and utility benefits of the product, are supporting the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global 1,4 butanediol market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, derivative and end use industry.

Breakup by Type:

• Synthetic
• Bio-based
   

Breakup by Derivative:

• Tetrahydrofuran (THF)
• Polybutylene Terephthalate (PBT)
• Gamma-Butyrolactone (GBL)
• Polyurethane (PU)
• Others
   

Breakup by End Use Industry:

• Textile
• Automotive
• Healthcare and Pharmaceutical
• Electrical and Electronics
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Ashland Inc., BASF SE, China Petroleum & Chemical Corporation (China Petrochemical Corporation), Dairen Chemical Corporation, Genomatica Inc, KH Chemicals BV (Ravago S.A.), Lanxess AG, LyondellBasell Industries N.V., Mitsubishi Chemical Corporation, Nan Ya Plastics Corporation, Shanxi Sanwei Group Co. Ltd., Sipchem Company and Xinjiang Blue Ridge Tunhe Sci.&Tech. Co. Ltd.

Report Coverage: