1,4 Butanediol Market 2023
A study by PMR concludes that, “1,4 Butanediol Market: Global Opportunities, Challenges, Strategies and Forecasts 2023” has been added on Persistence Market Research.
1,4 Butanediol, also termed as Butane-1,4-diol or 1,4-Butylene glycol, is an organic chemical compound which finds a wide-scale industrial application in production of fibres, plastics, solvents etc. among other applications in the chemical industry. 1,4 butanediol is colourless and viscous chemical compound with a relatively high boiling point is derived from Butane. The organic chemical compound is one of the stable forms or isomers of butanediol. One of the most widely used process, the Reppe Process, for manufacture of 1,4 Butanediol involves reaction of acetylene with formaldehyde. Alternatively, it is also manufactured by means of a process termed as Davy process with maleic anhydride used as raw material. Other modes of manufacture involve use of biological routes or the use of propylene oxide as a raw material. Major areas of application for 1,4 Butanediol include manufacture of Poly Butylene Terephthalate (PBT), Gamma Butyrolactone (GBL), Tetrahydrofuran, Polyurethanes, among the others.
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1,4 butanediol market is slated to register a steady year-on-year growth throughout the forecast period. The growth of end use industries is expected to emerge as the major growth driving factor for global 1,4 Butanediol market during the forecast period. A moderate single digit growth is projected to be registered by the market over the forecast period. The industrial growth in developing regions of the globe namely of countries in Asia Pacific region is expected to further drive the demand for Butanediol during the forecast period. The relatively volatile nature of prices of 1, 4 Butanediol raw materials is likely to act as an impediment to the growth of global 1,4 Butanediol market during the forecast period. China has emerged as a major producer of 1,4 Butanediol and houses the largest production capacity for the chemical. Thus, the growth in end use industries, the economic and industrial growth in developing regions of the globe, are expected to drive the growth of global 1,4 Butanediol market during the forecast period.
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Depending on the type of applications, global 1,4 butanediol market can be segmented into the following key market segments:
- PBT
- THF
- GBL
- Polyurethane
- Others
On the basis of geographic regions, global 1,4 butanediol market is segmented into seven key market segments namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East & Africa. Among the aforementioned regions, Asia Pacific is expected to witness a relatively faster CAGR as compared to that of other regions of the globe during the forecast period. The mature markets, namely those in Europe and North America are slated to exhibit relatively slower growth in demand for 1,4 Butanediol during the forecast period.
Some of the identified major players operating in the global 1,4 butanediol market are as follows:
- BASF SE
- LyondellBasell Industries N.V
- Ashland Inc.
- Mitsubishi Chemical Corporation
- Sipchem
- Bioamber Inc.
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