The 1,4-butanediol market is anticipated to grow significantly during the forecast period in the butanediol market due to its use in a variety of industrial processes, including those involving polybutylene terephthalate (PBT), tetrahydrofuran (THF), and polyurethane (PU). Additionally, increased use of these derivatives in the automotive industry is anticipated to accelerate market expansion. OICA data show that global automotive production increased by 3% in 2021 compared to the prior year. In 2021, 80,145,988 automobiles were produced in total across the globe.
According to Data Bridge Market Research, 1, 4 Butanediol Market is expected to reach USD 10.76 billion by 2030, which is USD 7.23 billion in 2022, registering a CAGR of 5.10% during the forecast period of 2023 to 2030.
"Growing demand from end-use industries surge market demand"
The growing demand for end-use products in industries such as chemicals, plastics, textiles, automotive, and pharmaceuticals fuels the demand for 1,4 butanediol as a crucial raw material. In the chemicals industry, it is used to produce solvents, polymers, and resins. It is utilized as a plasticizer and fiber-reinforcing agent in plastics and textiles. Its applications in automotive components, coatings, and adhesives contribute to market growth. The pharmaceutical industry relies on 1,4 butanediol for drug formulation and synthesis, further driving demand.
What restraints the growth of the 1, 4 butanediol market?
“Volatility in raw material prices can impede the market growth”
The 1,4 butanediol market is vulnerable to the volatility of raw material prices, particularly butadiene and acetylene. Fluctuations in the prices of these critical raw materials can significantly impact the production costs of 1,4 butanediol. Manufacturers may struggle to maintain stable profit margins due to the uncertainty caused by fluctuating raw material prices. This volatility can deter investments and hinder market growth, creating challenges in forecasting and pricing strategies for producers and consumers.
Segmentation: Global 1, 4 Butanediol Market
The 1, 4 butanediol market is segmented on the basis of derivative, end-user industry and technology and type
- On the basis of derivative, the 1, 4 butanediol market is segmented into tetrahydrofuran (thf), polybutylene terephthalate (pbt), Gamma-Butyrolactone (gbl), polyurethane (pu), and other derivatives
- On the basis of end-user industry, the 1, 4 butanediol market is segmented into automotive, healthcare and pharmaceutical, textile, electrical and electronics, and other end-user industries
- On the basis of technology, the 1, 4 butanediol market is segmented into reppe process, davy process, butadiene process, propylene oxide process, others
- On the basis of type, the 1, 4 butanediol market is segmented into synthetic, bio-based.
Regional Insights: Asia Pacific is expected to dominate the global 1, 4 butanediol market
Asia-Pacific is poised to dominate the 1,4 butanediol market due to its large consumer base and rising income levels. The expanding population and increasing disposable incomes increase demand for end-use products like chemicals, plastics, textiles, and automotive components. This, in turn, drives the demand for 1,4 butanediol as a key raw material. The region's favorable demographics and growing purchasing power position Asia-Pacific as a major market player in the 1,4 butanediol industry.
Europe is expected to experience significant growth in the 1,4 butanediol market due to the implementation of stringent regulations in the region. These regulations focus on environmental sustainability and safety standards, driving the demand for sustainable and eco-friendly chemical solutions. 1,4 butanediol, a versatile chemical, is in demand for various applications. The increased adoption of stringent regulations in Europe creates opportunities for manufacturers to develop and supply compliant and sustainable 1,4 butanediol products, contributing to regional market growth.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-1-4-butanediol-market
Recent Developments in Global 1, 4 Butanediol Market
- In 2021, Dymon Co., Ltd. and Mitsubishi Chemical Corporation formed a partnership. The first private company to explore the moon is this space and robot development venture.
The Prominent Key Players Operating in the Global 1, 4 Butanediol Market Include:
- Dow (U.S.)
- LyondellBasell Industries N.V. (Netherlands)
- BASF SE (Germany)
- ADM (U.S.)
- Global Bio-chem Technology Group Company Limited (China)
- DuPont (U.S.)
- Tate & Lyle Bio Products (U.S.)
- SKC (South Korea)
- Temix Oleo (Italy)
- INEOS Oxide (Switzerland)
- Huntsman International L.l.C (U.S.)
- ADEKA CORPORATION (Japan)
- Chaoyang Chemicals, Inc. (U.S.)
- Manali Petrochemicals Limited (India)
- Haike Chemical Group Co., Ltd. (China)
- Arch Chemicals Inc, (U.S.)
- Repsol (Spain)
- Midland Company (U.S.)
- Helm AG (Germany)
- Shell Plc (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of global 1, 4 butanediol market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global 1, 4 Butanediol Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
