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Global 1,4-Butanediol Industry Research 2024-2029: Increasing Production of Bio-based 1,4-butanediol is Expected to Provide Lucrative Opportunities
Global 1,4-Butanediol Market
Dublin, June 19, 2024 (GLOBE NEWSWIRE) -- The "Global 1,4-Butanediol Market by Type (Synthetic, and Bio-Based), Applications (THF, PBT, GBL and PU), Technology Type (Reppe, Davy, Butadiene, Propylene Oxide) and Region (Asia Pacific, Europe, and North America) - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global 1,4-butanediol market is projected to grow from USD 7.8 billion in 2024 to USD 11.1 billion by 2029, at a CAGR of 7.3%
The report is expected to help the market leaders/new entrants in the market by providing them with the closest approximations of revenue numbers of the 1,4-butanediol market and its segments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the position of their businesses, and make suitable go-to-market strategies. It also enables stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
The major drivers of the 1,4-butanediol market include the rising demand for its applications in producing tetrahydrofuran (THF) and polyurethane (PU) due to their extensive use in automotive, electronics, and textile industries. Additionally, rapid industrialization, technological advancements, and a growing focus on sustainable and bio-based products are significantly propelling market growth.
DCC (Taiwan), BASF-SE (Germany), Xinjiang Tianye Group Co., Ltd. (China), Mitsubishi Chemical Group Corporation (Japan), Nan Ya Plastics Corporation (Taiwan), SIPCHEM Company (Saudi Arabia), are some of the major players operating in the 1,4-butanediol market. These players have adopted strategies such as acquisitions, expansions, partnerships, and agreements to increase their market share business revenue.
Bio-Based 1,4-butanediol, by type, is estimated to account for the fastest growing segment during the forecast period.
Bio-based 1,4-Butanediol (BDO) is the fastest-growing segment by type due to rising environmental awareness, supported by favorable regulations encouraging renewable alternatives. Technological advancements have made production more efficient and cost-effective, driving competitiveness.
Increasing demand across industries like automotive and textiles for sustainable products further boosts bio-based 1,4-butanedion's growth. Investments in research and development fuel innovation, enhancing production scalability. This collective momentum positions bio-based 1,4-butanediol as a key driver in the evolving landscape of renewable chemicals.
Gamma Butyrolactone, by application, is estimated to account for the fastest growing segment during the forecast period.
Gamma-Butyrolactone (GBL) is the fastest-growing segment in the applications of 1,4-butanediol due to its versatile use as an intermediate in the production of various chemicals, including pyrrolidone's and solvents. Its high demand in pharmaceuticals, agrochemicals, and electronics industries further fuels its growth.
Additionally, GBL's role as a precursor in manufacturing spandex fibers and as a solvent in various industrial applications contributes to its rapid market expansion. The increasing focus on high-performance materials and sustainable solutions also enhances the demand for Gamma-Butyrolactone which further increases the 1,4-butanediol market.
The report provides insights on the following pointers:
Analysis of key drivers (growing demand in applications such as tetrahydrofuran, polyurethane), restraints (Health concerns associated with 1,4-butanediol and shutdown of various 1,4-butanediol production plants), opportunities (increasing production of bio-based 1,4-butanediol is expected to provide lucrative opportunities in 1,4-butanediol market), and challenges (Fluctuations in raw material prices pose significant challenges) influencing the growth of the 1,4-butanediol market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the 1,4-butanediol market.
Market Development: Comprehensive information about lucrative markets - the report analyses the 1,4-butanediol market across varied regions.
Market Diversification: Exhaustive information about new products, various types, untapped geographies, recent developments, and investments in the 1,4-butanediol market.
Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players such as DCC (Taiwan), BASF-SE (Germany), Xinjiang Tianye Group Co., Ltd. (China), Mitsubishi Chemical Group Corporation (Japan), Nan Ya Plastics Corporation (Taiwan), SIPCHEM Company (Saudi Arabia), Ashland (US), INEOS (UK), Genomatica Inc. (UK) Marck KGaA (Germany), Evonik Industries AG (Germany) and others in the 1,4-butanediol market.
Key Attributes:
Report Attribute | Details |
No. of Pages | 184 |
Forecast Period | 2024 - 2029 |
Estimated Market Value (USD) in 2024 | $7.8 Billion |
Forecasted Market Value (USD) by 2029 | $11.1 Billion |
Compound Annual Growth Rate | 7.3% |
Regions Covered | Global |
Companies Featured
BASF SE
Sinopec Yizheng Chemical Fibre Company Limited
DCC
Nan Ya Plastics Corporation
Xinjiang Tianye Group Co. Ltd.
Mitsubishi Chemical Group Corporation
Sipchem Company
Ashland
Evonik Industries AG
INEOS
Genomatica, Inc.
Mitsui & Co. Italia S.P.A.
LyondellBasell Industries Holdings B.V.
Merck KGaA
Shanxi Sanwei Group Co. Ltd
Tokyo Chemical Industry Co. Ltd.
Spectrum Chemical
Xinjiang Blue Ridge Tunhe Sci.& Tech. Co. Ltd.
SK Geo Centric Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/lbxxvh
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