What Transformation Has the 1, 4 Butanediol Market Undergone?
The 1, 4 butanediol market has seen considerable growth due to a variety of factors.
• The market size for 1,4 butanediol has experienced significant growth in the past few years. The value of the market is projected to increase from $9.55 billion in 2024 to $10.36 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. Factors influencing this growth during the historic period include the demand for polybutylene terephthalate (PBT) production, rising utilization in the textile industry, the growth of the automotive sector, a surge in demand for tetrahydrofuran (THF), and its application in pharmaceutical and cosmetic products.
What Is The Forecast For The 1, 4 Butanediol Market?
The 1, 4 Butanediol market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of 1,4 butanediol is predicted to experience substantial expansion in the upcoming years, swelling to $14.24 billion by 2029 at a compound annual growth rate (CAGR) of 8.3%.
The anticipated growth in the forecast period could be ascribed to the increased manufacturing of bio-based 1,4 butanediol, enlarged range of end-use applications, escalating demand for polyurethane, rising uptake in resin and coating composition, and a spotlight on green chemical production. Key trends over the forecast span include market broadening in the Asia-pacific region, advancements in technology for production, unstable raw material pricing, and innovative developments in product applications.
What Are The Essential Drivers Behind The Growth Of The 1 4 Butanediol Market?
Growing developments within the automotive sector are anticipated to spur the progression of the 1,4-butanediol market in future times. The motor vehicle industry includes companies that are responsible for generating, distributing, selling, and maintaining cars. In this industry, the production of vehicle components such as bumpers, fenders, spoilers, and the front and rear facades of cars necessitate the use of urethane elastomers, which are derived from 1,4-butanediol. Consequently, the rising demand from the motor vehicle industry enhances the growth of the 1,4-butanediol market. For example, records from the European Automobile Manufacturers' Association, a Belgium-based coalition, show that as of August 2024, new vehicle enrollments increased by 3.9%, surpassing 6.5 million units in the first seven months of the year. The significant markets in the consortium experienced moderate yet positive growth, with Spain (+5.6%), Italy (+5.2%), Germany (+4.3%), and France (+2.2%) all presenting increased percentages. As a result, the burgeoning automotive sector impels the drive for the 1,4-butanediol market.
How Is The Global 1 4 Butanediol Market Divided Into Key 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
Subsegments:
1) By Synthetic: Hydrocarbon-Based Butanediol, Other Synthetic Processes
2) By Bio Based: Fermentation-Based Butanediol, Other Bio-based Processes
Pre-Book The 1 4 Butanediol Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Reshaping The Future Of The 1 4 Butanediol Market?
The primary movement advancing in the 1,4-butanediol market is product innovation. Major businesses in the 1,4-butanediol sector are concentrating their efforts on producing unique items to solidify their place in the market. For example, Yuanli Chemical Group Co., Ltd., a Chinese company specializing primarily in the creation, production, and promotion of fine chemicals, introduced bio-BDO in May 2022. Bio-BDO, which can be utilized in various settings – from Spandex, biodegradable polymers, and polyurethane to shoe materials and innovative energy batteries – is a green, renewable, energy-efficient, and emission-reducing product. It doesn't damage the environment and aligns with the green product standards aimed at reducing carbon emissions, therefore providing customers with fresh choices.
Who Are the Key Players In The 1 4 Butanediol Market?
Major companies operating in the 1
• 4 butanediol market include:
• 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.
• Koch Industries
• PTT Global Chemical Public Company Limited
• Saudi International Petrochemical Company
• Chongqing Jianfeng Chemical 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
What Are The Regional Insights Into The 1 4 Butanediol Market?
Asia-Pacific was the largest region in the 1,4 butanediol market in 2024. The regions covered in the 1, 4 butanediol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
