The latest research study by IMARC Group, “1,4 Butanediol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which comprises insights on global 1,4 butanediol market price. The market size reached US$ 6.72 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 9.98 Billion by 2027, exhibiting a growth rate (CAGR) of 6.70% during 2022-2027.
1,4 butanediol refers to an oily, colorless, and viscous liquid that has a high solubility in water and other chemicals. It is available in synthetic and bio-based categories, mostly produced from petroleum-based substrates including butane, acetylene, propylene, butadiene, etc. 1,4 butanediol variants form essential raw materials in both fine chemical and organic industries for their excellent environmental characteristics that cause minimal health risks to workers.
They even stimulate growth hormone production and enhances muscle strength. 1,4 butanediol and its derivatives prove to be excellent solvents and are used in the manufacturing of various types of elastic fibers, plastics, and polyurethanes. Consequently, they find extensive applications across numerous sectors, such as textile, automotive, electrical and electronics, papermaking, chemical, healthcare, pharmaceutical, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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1,4 Butanediol Market Trends and Drivers:
The escalating usage of polybutylene terephthalate (PBT) in the automotive segment to facilitate vehicle weight reduction, improve shock absorption for bumpers, ensure energy absorption, and enhance tracking resistance for a range of high-voltage automotive components is among the key factors driving the 1,4 butanediol market. In addition to this, the growing product utilization to produce paint thinners, floor strippers, and other solvent goods and the introduction of bio-butanediol, owing to the heightened environmental concerns and depletion of non-renewable resources, are acting as significant growth-inducing factors.
Moreover, the increasing need from the chemical industry to manufacture derivates, which include tetrahydrofuran (THF), polyurethane (PU), gamma-butyrolactone (GBL), etc., is also positively influencing the global market. Apart from this, the shifting preferences toward the product for replacing illicit chemicals and the elevating awareness regarding its processing and utility benefits are anticipated to fuel the 1,4 butanediol market over the forecasted period.
1,4 Butanediol Market Report Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has been segmented the market into following categories:
Type:
- Synthetic
- Bio-based
Derivative:
- Tetrahydrofuran (THF)
- Polybutylene Terephthalate (PBT)
- Gamma-Butyrolactone (GBL)
- Polyurethane (PU)
- Others
End Use Industry:
- Textile
- Automotive
- Healthcare and Pharmaceutical
- Electrical and Electronics
- Others
By Geography:
- 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
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