The Global 1, 4-Butanediol (BDO) Market size is estimated to be USD 8.33 billion in 2019 and is predicted to reach USD 17.71 billion by 2030 with a CAGR of 7.1% from 2020-2030.
1, 4-Butanediol (BDO) is a colourless thick liquid, which is one amongst the four stable isomers of butanediol. The commercial production of this solvent is accomplished by the synthesis of acetylene that reacts with two equivalent parts of formaldehyde to form 1, 4-butynediol; which is further hydrogenated to produce 1, 4-butanediol, as a product.
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Top Companies: Ashland Inc., BASF SE, BioAmber Inc., Dairen Chemical Corporation, Genomatica, Inc., Invista, LyondellBasell Industries N.V., Mitsubishi Chemical Corporation, Myriant Corporation, Saudi International Petrochemical Company, The Dow Chemical Company and others.
Market Dynamics and Trends
1, 4-Butanediol (BDO) market is majorly driven by the increasing demand for Tetrahydrofuran (THF) and Polybutylene Terephthalate (PBT) at the end-user industries. In addition, the factors like the innovation of sustainable technologies and bio-based feedstock coupled with the growing demand of BDO from that developing countries like India, China, and Taiwan are also responsible in fuelling the growth of the 1, 4-Butanediol (BDO) market. However, the fluctuating cost of raw materials and expenses manufacturing procedure is responsible for restricting the demand and growth of BDO in the market.
Additionally, the growing awareness regarding the benefits and processing of BDO and its derivatives are further responsible for the expectation of this industry. Factors like, depletion of non-renewable resources like natural gas and crude oil coupled with other environmental issues are also propelling the need for the utilization of bio-based or the production of renewable resources. This has further resulted in driving the growth of bio-based BDO production and its consumption. Impulsive market condition serves to be the major growth challenge for 1, 4-Butanediol (BDO) market.
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Market Segmentation and Scope of the Study:
The global 1, 4-Butanediol (BDO) market share is analyzed on the basis of application, and geography. On the basis of application the 1, 4-Butanediol (BDO) market is segmented into Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), Gamma-Butyrolactone (GBL), Polyurethanes (PU) and others. Whereas the geographical segmentation covers North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.
Segmental Analysis:
Tetrahydrofuran or THF dominates market share on the basis of the applications of the BDO market. The THF’s market size is estimated to be equivalent to half of the total market share and is estimated to grow with the same pace during the forecasters owing to the increasing demand of its derivatives, namely PTMEG, which is further converted into spandex fibre that are widely utilised during the production of sportswear, interior, automobile and Other industries. However, the regional analysis of the market favoured Asia Pacific as the largest BDO consuming market accounting to more than 50% of the total BDO consumption globally. In addition, the force majeure declaration on BDO and its derivative in North America, by BASF SE, in Jan 2018 is one of the major key developments in this market.
- Global 1, 4-Butanediol (BDO) Market – By Application
- Tetrahydrofuran (THF)
- Polybutylene Terephthalate (PBT)
- Gamma-Butyrolactone (GBL)
- Polyurethanes (PU)
- Others
- Global 1, 4-Butanediol (BDO) Market – By Geography
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Rest of the Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- ROW
- Brazil
- Argentina
- South Africa
- UAE
- Rest of LAMEA
- North America
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