Global 1, 4 Butanediol Market Size study & Forecast, by Application (Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), Gamma-Butyrolactone (GBL), Polyurethane (PU), Others) and Regional Analysis, 2022-2029

Global 1, 4 Butanediol Market Size study & Forecast, by Application (Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), Gamma-Butyrolactone (GBL), Polyurethane (PU), Others) and Regional Analysis, 2022-2029

Global 1, 4 Butanediol Market is valued at approximately USD 6.88 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.1% over the forecast period 2022-2029. 1,4-Butanediol also referred to as BD or BDO is a primary alcohol and also an organic compound, with the formula HOCH₂CH₂CH₂CH₂OH. 1,4-Butanediol is a colorless viscous liquid, which has great solubility in water and other chemicals. The increasing demand for polybutylene terephthalate and polyurethane, the exponential growth of the various end-use industries coupled with the growth in emerging markets are some prominent factors in market growth around the world.

The 1, 4 Butanediol is gaining high traction in the textile industry owing to the surging demand for spandex because of its wide liquid range in an intermediate natural gas odorant. According to Statista, in 2020, the textile industry in India was estimated to be worth around USD 150 billion, which is projected to grow and is likely to reach USD 220 billion by the year 2026. In addition, the OICA data stated that in 2021 automotive production globally boost by 3% in comparison to 2021, with the total global production of automobiles being around 80,145,988 units in 2021. Accordingly, the flourishing development of the textile and automotive industry is fueling demand for 1, 4 butanediols in the global market. Moreover, the rising production of bio-based BDO, as well as increasing investment in the development of BDO using coal-to-chemical technology, are leveraging various opportunities for market growth over the forecasting years. However, higher manufacturing costs and volatility of raw materials prices are hindering market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global 1, 4 Butanediol Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the rise in production across developing countries particularly in China and India, along with the growing demand for green materials in the automotive industry. Whereas, North America is expected to grow significantly during the forecast period, owing to factors such as the rising adoption of 1, 4 butanediol in various end-use industries, as well as development of advanced infrastructure and technology in the market space.

Major market players included in this report are:
Bio Amber Inc.
BASF SE
Ashland Inc.
ExxonMobil Chemicals
China Petroleum & Chemical Corporation
International Specialty Products.
Mitsubishi Chemical Corporation
Evonik Industries AG
SK Global Chemical Co. Ltd.
Toray Industries Inc.

Recent Developments in the Market:
 In June 2021, Cargill and HELM announced that the company planned to establish a new bio-based intermediate production facility at Cargill’s existing biotechnology campus and corn refining operation in Eddyville, Iowa. The plant is likely to get completed and operational by 2024 to fulfill the demand for the specification of product supply chains.
 In April 2021, The Coal-based Fine Chemicals Circular Economy Industrial Park Phase II project was started by Xinjiang Guotai Xinhua Chemical Co. Ltd. to produce hydrogen using the methanol cracking method, 1,4 butanediol (BDO), and acetylene and formaldehyde through dry acetylene and formaldehyde plants, respectively. By completing this project, 100,000 tonnes of 1,4-butanediol (BDO) and 1,200 tonnes of butanol are estimated to be produced as byproducts.

Global 1, 4 Butanediol Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application:
Tetrahydrofuran (THF)
Polybutylene Terephthalate (PBT)
Gamma-Butyrolactone (GBL)
Polyurethane (PU)
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World



Companies Mentioned

Bio Amber Inc.
BASF SE
Ashland Inc.
ExxonMobil Chemicals
China Petroleum & Chemical Corporation
International Specialty Products.
Mitsubishi Chemical Corporation
Evonik Industries AG
SK Global Chemical Co. Ltd.
Toray Industries Inc.

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