1,4 Butanediol Market Size to hit USD 18.61 Billion by 2030 : Cognitive Market Research

As per Cognitive Market Research analysis, the 1,4 Butanediol market size is projected to grow from USD 9.15 Bn in the year 2021 to USD 18.61 Bn by 2029 at a CAGR of 9.75% from 2022-2029.

Read Full Report with Table of Contents: https://www.cognitivemarketresearch.com/1-4-Butanediol-market-report

1,4-Butanediol, also known as BD or BDO, is a primary alcohol, and an organic compound, with the formula HOCH2CH2CH2CH2OH. It is one of four stable isomers of butanediol. 1 4 Butanediol is a crucial raw material in the production of spandex, plastics, elastic fibers, and films. Besides its use as a commodity chemical, it can be used as a starting chemical for other SA derivatives like THF and GBL.
Rising demand from the tetrahydrofuran industry and increasing use of automotive, textile, electrical & electronics applications are the key driving factors for the 1,4-Butanediol market. Tetrahydrofuran is the largest use for 1,4-butanediol and approximately 79% of THF consumption is for the production of polytetramethylene ether glycol(PTMEG), which is used to create high-performance copolyester-ether elastomers, cast and thermoplastic urethane elastomers, and polyurethane fibers (spandex).

Focus on increasing the production of bio-based 1,4-Butanediol is expected to create lucrative opportunities for the 1,4-Butanediol market. However, health risks associated with BDO can hamper the growth of the market.

Regional Analysis of 1,4 Butanediol Market:
• Asia Pacific accounted for the largest market with a 59.23% share during the year 2021. This is due to the increasing demand for BDO from the automotive industry, and increasing industrialization in major markets such as India, China, South Korea, Japan, and others. Following Asia Pacific, North America accounted for the second highest market share in 2021 with 21.78%, owing to the presence of many key end-use industries such as automotive & transportation, construction, footwear, and others.

Top players involved in the 1,4 Butanediol market:
• Bio Amber Inc.
• BASF SE
• Ashland Inc.
• ExxonMobil Chemicals
• China Petroleum & Chemical Corporation
• Mitsubishi Chemical Corporation
• Evonik Industries AG
• SK Global Chemical Co. Ltd.
• Toray Industries Inc.
• Dairen Chemical Corporation
• Lyondell Basell Industries
• The Dow Chemical Company
• Sipchem
• Genomatica
• Others

Current Trends of Manufacturers:
• LG Chem and GS Caltex announced, 3-hydroxypropionic acid pilot plant, MOU for BDO technology (July 2022)
LG Chem Ltd. and GS Caltex, are establishing a pilot plant to develop a white-bio ecosystem and commercialize bio-raw materials following the announcement of their joint development agreement last year.
• BASF announced, to increase in the price for diols and derivatives in North America (December 2020)
BASF announced that it will increase prices in North America for 1,4-Butanediol (BDO) and derivatives such as 1,4- Butanediol (BDO), Gamma-butyrolactone (GBL), N-methylpyrrolidone (NMP), Tetrahydrofuran (THF), and Polytetramethylene ether glycol (PolyTHF).
• INEOS completed the acquisition of the Ashland Composites Business (September, 2019)
INEOS Enterprises has announced the completion of the acquisition of the entire composites business from Ashland Global Holdings Inc. The acquisition also includes a BDO facility in Germany. The businesses included in the transaction have combined sales of more than $1.1 billion per year. They employ 1,250 employees across 19 sites in Europe, North and South America, Asia and the Middle East.
• Cargill and HELM partnered to build a $300M commercial-scale, renewable BDO facility, first in the US, to meet growing customer demand (June 2021)
Cargill and HELM entered into a joint venture, Qore, to help leading brands replace fossil-based chemistries with bio-based intermediates, enabling them to reduce their greenhouse gas emissions. As part of the agreement, both companies have invested a combined $300M to build the first commercial-scale, renewable BDO facility in the U.S.
• Ashland announced that it will increase the prices for 1,4-Butanediol and Derivatives (March 2021)
Ashland announced that it is increasing the prices of its 1,4-Butanediol (BDO) and several derivative products in North America, effective April 1, 2021. This increase will range from $0.42/lb to $0.45/lb. The derivatives include gamma-butyrolactone (BLO), n-methyl-pyrrolidone (NMP), 2-pyrrolidone (2-Pyrol), and tetrahydrofuran (THF).

Segment Analysis:
• Based On Type, the market is segmented into synthetic and Bio-based 1,4 -Butanediol. The synthetic segment held the largest market share and is expected to grow at a significant growth rate during the forecast period. This is due to the higher yield of BDO through the synthetic process.

• Based On Applications,, the market is segmented into Tetrahydrofuran (THF), Polybutylene, Terephthalate (PBT), Gamma-butyrolactone (GBL), Polyurethane (PU), and others. Tetrahydrofuran (THF) application held the largest market share with a revenue share of 49.85%in the year 2021. Its high share is attributable to the rising use of BDO for producing Polytetramethylene Glycol (PTMEG). After, THF, PBT held the second highest market share, owing to the increasing plastic use in the automotive industry for the production of lightweight vehicles.

Related Report:
Global Tetrahydrofuran Market - https://www.cognitivemarketresearch.com/tetrahydrofuran-market-report
Global Bio-Based 1,4-Butanediol Market - https://www.cognitivemarketresearch.com/Bio-Based-1-4-Butanediol-market-report
Global Spandex Market - https://www.cognitivemarketresearch.com/Spandex-market-report

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