1,4 Butanediol Derivatives Market Size, Share & Trends Analysis Report By Product By Application (THF, GBL, Spandex, PBT, PTMEG, NMP, NVP, PVP, PBS, PBAT, TPU, 2PY), By Region, And Segment Forecasts, 2023 - 2030

1,4 Butanediol Derivatives Market Growth & Trends

The global 1,4 butanediol derivatives market size is expected to reach USD 47.87 billion by 2030, registering a CAGR of 6.8% over the forecast period, as per the new report by Grand View Research, Inc. The growth of the market is driven by the increasing application of polybutylene terephthalate (PBT) and tetrahydrofuran (THF) in different end-use industries, including clothing, medical, solvent, electronics, and automobiles. Derivatives of 1,4-butanediol (BDO), including THF, are an intermediate in synthesizing various chemicals and compounds. It is used as a starting material or a reaction medium in agrochemicals, manufacturing pharmaceuticals, and specialty chemicals. It is majorly used as a Grignard reagent for synthesizing butyrolactone and succinic acid. Thus, the growing chemical industry is expected to drive the demand for 1,4-butanediol.

Derivative Gamma-butyrolactone, commonly called GBL, is a versatile chemical used in the electronics, pharmaceuticals, and polymer industries. GBL serves as a solvent for cleaning electronic components and circuit boards in the electronics industry. It is also vital in the production of lithium-ion batteries and flat-screen displays. In addition, in the pharmaceutical industry, GBL is used to produce various medicines, including diuretics and antidepressants. According to the Germany Trade & Invest, the electronics sector in Germany accounted for USD 195.79 billion, contributing to 3% of the country’s GDP, with electronic exports accounting for 13% of the total German exports in 2021. The growing electronics industry will likely boost the demand for poly tetramethylene ether glycols (PTMEG), used in the production of elastomers, spandex fibers, and adhesives, all of which have applications in the electronics industry.

This is expected to boost the demand for BDO over the forecast period. Health concerns associated with BDO derivatives are a major challenge faced by product manufacturers. Moreover, the environmental impact of BDO derivatives is further promoting the industry players' development and acceptance of bio-based BDO derivatives. However, switching from conventional production methods to bio-based requires huge setup costs and research. The production of bio-based BDO derivatives presents a significant opportunity for the market as it reduces the dependency on conventional oil-based resources. The increasing applications of THF and PBT are expected to boost the demand for bio-based BDO derivatives in the coming years.

1,4 Butanediol Derivatives Market Report Highlights

• The spandex product by application segment is projected to grow at the fastest CAGR of 8.8% from 2023 to 2030 owing to its increasing usage in the clothing and footwear industry
• Its unique capabilities make this fiber popular for manufacturing clothing items, such as sportswear and leggings, that require a high degree of stretch and recovery
• Polybutylene terephthalate (PBT) is often used for producing automotive parts, such as connectors, sensors, and housings, owing to its high strength and impact resistance
• The Asia Pacific region led the global market and accounted for the highest revenue share of 65.2% in 2022
• This growth can be attributed to the rise in construction activities, rapid growth in automobile production, and high foreign investments in the region

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