1,4 Butanediol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

1,4 Butanediol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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.

Key Questions Answered in This Report
1. What was the size of the global 1,4 butanediol market in 2022?
2. What is the expected growth rate of the global 1,4 butanediol market during 2023-2028?
3. What are the key factors driving the global 1,4 butanediol market?
4. What has been the impact of COVID-19 on the global 1,4 butanediol market?
5. What is the breakup of the global 1,4 butanediol market based on the derivative?
6. What is the breakup of the global 1,4 butanediol market based on the end use industry?
7. What are the key regions in the global 1,4 butanediol market?
8. Who are the key players/companies in the global 1,4 butanediol market?