New York, United States, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The Global 1,4 Butanediol Market Size to Grow from USD 11.5 Billion in 2022 to USD 19.3 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period.
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The molecular formula for 1,4-butanediol, also known as 1,4-BDO or simply BDO, is C4H10O2. It is a colourless and odourless liquid when it is at room temperature. 1,4-Butanediol is classified as a glycol or a diol based on the two hydroxyl (OH) groups that are present on neighbouring carbon atoms. The BDO market has expanded steadily over time as a result of its use in the manufacture of several chemicals and goods. The industries that commonly fuel growth include those in the automotive, textile, and electronics sectors, among others. Regional and global categories make up the BDO market. The main producing regions for BDO are often limited to a small number of locations. For instance, several production facilities are located in Asia, particularly China, which has developed into a significant player in the market.
COVID 19 Impact
The pandemic impacted global supply chains, particularly those in the chemical industry. Lockdowns, transit limitations, and local industry closures may have made it more difficult to produce and distribute BDO and its raw ingredients. During the pandemic, the demand for BDO significantly reduced in a number of industries where it is a raw ingredient, including the textile, building, and automotive sectors. This drop in demand would have had an effect on the BDO market. Some chemical manufacturers shifted their manufacturing focus during the outbreak to essential products like hand sanitizers and medical supplies. This modification might have had an effect on BDO's usability for other applications. Initiatives for digital transformation across several enterprises were accelerated by the pandemic.
BDO is an essential fundamental component for the production of polymers like polybutylene terephthalate (PBT) and polyurethane (PU). The growth of industries including the automotive, building, and textile sectors could lead to an increase in demand for these polymers, which would boost BDO consumption. BDO is used in the production of materials and auto parts, including as seat coverings, tyres, and fuel system components. The growth of the automotive industry, which is being powered by things like electric automobiles and lightweight materials, may be advantageous for the BDO market. Electronics industry printed circuit boards (PCBs) and connectors are produced using BDO. The expanding consumer electronics and telecommunications sectors could aid in the BDO market's growth.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the “Global 1,4 Butanediol Market Size, Share, and COVID-19 Impact By Technology (Reppe Process, Davy Process, Propylene Oxide Process & Others), By Application (Gamma-Butyrolactone (GBL), Polybutylene Terephthalate (PBT), Polyurethanes (PU), Tetrahydrofuran (THF)), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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Technology Insights
Davy process holds the largest market share over the forecast period
On the basis of technology, the global 1,4-Butanediol Market is segmented into Reppe Process, Davy Process, Propylene Oxide Process & Others. Among these, the davy process holds the largest market share over the forecast period. The expansion of the Davy Process segment may be fueled by capacity expansion and the adoption of this technology by new manufacturing facilities. It's possible that this is a response to the rising demand for BDO across many applications. If the general need for BDO continues to expand across industries including the automotive, textiles, and construction, the Davy Process category might see higher acceptance. The Davy Process may grow when it enters new markets and geographical regions. As the economies of emerging markets grow their sectors, chances for BDO manufacturing using this technique may present themselves.
Application Insights
Tetrahydrofuran segment is dominating the market over the forecast period
Based on the application, the global 1,4-Butanediol Market is segmented into Gamma-Butyrolactone (GBL), Polybutylene Terephthalate (PBT), Polyurethanes (PU), Tetrahydrofuran (THF), and Others. Among these, the Tetrahydrofuran segment is dominating the market over the forecast period. THF is a vital component of the raw materials required to make polymers like PTMEG and polyurethane, which are employed in a number of industries, including textile, automotive, and construction. The growth of these industries could increase THF use. PTMEG is primarily utilised in the production of elastane fibres, popularly known as spandex, and other specialty materials. The development of the textile and apparel sectors as well as the demand for flexible and high-performance materials may have an impact on PTMEG production and, in turn, THF demand. This market may grow as a result of the production and use of THF produced from biological and renewable sources. THF can be obtained from sources that are both ethically and legally correct. THF manufacturers might invest money to increase competition.
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Regional Insights
Asia Pacific is dominating the market over the forecast period
Among all regions, Asia Pacific is dominating the market with the largest market share over the forecast period. Several countries in the Asia-Pacific area are major producers of BDO. China is a significant player in the use and production of BDO, in particular. Important BDO production facilities are also located in other countries, such as Japan, South Korea, and India. In the APAC region, several different sectors employ BDO and its derivatives. The manufacturing of autos, textiles, electronics, building materials, and chemicals is one of these industries. The growth of these industries aids in supplying BDO to the area. The automotive industry, particularly for the production of polyurethane-based materials, coatings, and adhesives used in the construction of automobiles, is one of the main users of BDO in APAC.
North America, on the other hand is witnessing the fastest market growth over the forecast period. In North America, there are numerous BDO production facilities, with the United States being a main producer. Manufacturing facilities can be found all over the United States. The automobile industry in North America is a large consumer of BDO. BDO is used to create polyurethane foams and coatings, which are applied to both the interior and exterior of vehicles. BDO is used to manufacture sealants, coatings, and adhesives for the construction industry. As construction and infrastructure projects increase in North America, demand for BDO could increase. The BDO market has been steadily expanding in North America as a result of industrialisation, population growth, and consumer demand for products containing BDO and its derivatives.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
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Recent Market Developments
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global 1,4 Butanediol Market based on the below-mentioned segments:
1,4 Butanediol Market, Technology Analysis
- Reppe Process
- Davy Process
- Propylene Oxide Process
- Others
1,4 Butanediol Market, Application Analysis
- Gamma-Butyrolactone (GBL)
- Polybutylene Terephthalate (PBT)
- Polyurethanes (PU)
- Tetrahydrofuran (THF)
- Others
1,4 Butanediol Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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