Global 1, 4 Butanediol Market Segments 2024, Forecast To 2033
5 Mar, 2024
The 1,4 butanediol market has witnessed robust growth, expanding from $8.84 billion in 2023 to $9.61 billion in 2024, with a CAGR of 8.8%. This growth is attributed to demand in polybutylene terephthalate (PBT) production, textile industry usage, automotive sector expansion, and increasing demand for tetrahydrofuran (THF), pharmaceutical, and cosmetic applications. The market is projected to continue its strong growth, reaching $13.06 billion in 2028, with a CAGR of 8.0%. Factors include bio-based production, diverse end-use applications, rising demand for polyurethane, and a focus on sustainable chemical production, accompanied by trends like market expansion in Asia-Pacific and technological advancements.
Global 1, 4 Butanediol Market Key Driver
The 1,4-butanediol market is poised for growth due to the expanding automotive sector. This industry, encompassing vehicle creation, distribution, sales, and maintenance, relies on urethane elastomers from 1,4-butanediol for manufacturing bumpers, fenders, and other components. Notably, European Automobile Manufacturers Association reported a 3.1% increase in US auto facilities' production of over 6.3 million passenger automobiles in 2021. This surge in the automotive sector is a driving force behind the 1,4-butanediol market's expansion.
Get A Free Sample Of The Global 1, 4 Butanediol Market ReportGlobal 1, 4 Butanediol Market Segments
The 1, 4 butanediol market covered in this report is segmented –
1) By Type: Synthetic, Bio Based
2) By Application: Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), Gamma Butyrolactone (GBL), Polyurethane (PU), Others
3) By End-Use: Chemical, Sports, Automotive, Electronic, Footwear, Others
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the 1,4 butanediol market in 2023. The regions covered in the 1, 4 butanediol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major 1, 4 Butanediol Industry Players
BioAmber Inc.; BASF SE; Ashland Global Holdings Inc.; Mitsubishi Chemical Corporation; SK Global Chemical Co Ltd.; Dairen Chemical Corporation; LyondellBasell Industries NV; Dow Inc.; Genomatica Inc.; Xinjiang Tianye Co Ltd.; ExxonMobil Corporation; Koch Industries; PTT Global Chemical Public Company Limited; Saudi International Petrochemical Company; Chemtura Corporation; Chongqing Jianfeng Chemical Co Ltd.; Royal Dutch Shell plc; Mitsui & Co Ltd.; DCC plc.; Nan Ya Plastics Corporation; Sinopec Yizheng Chemical Fibre Company Limited; Shanxi Sanwei Group Co. Ltd; Invista S.à r.l.; Nanjing Bluestar Co. Ltd.; Oxea GmbH; TCC Group; Formosa Plastics Corporation; International Specialty Products; Huntsman Corporation; Myriant Corporation; Davy Process Technology
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AIOps 1, 4 Butanediol Market Overview
1,4-Butanediol is a colourless and water-soluble, thick fluid with a high point of boiling (230°C) at room temperature used as a source of gamma-hydroxybutyrate (GHB), a recreational drug with euphoric and sedative effects. It is also utilized in the synthesis of various organic compounds, especially the solvent oxolane (also known as tetrahydrofuran, or THF). It functions as a protic solvent, prodrug, and neurotoxin
1, 4 Butanediol Global Market Report 2023 provides data on the global 1, 4 butanediol market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The 1, 4 butanediol market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.