1,4-Butanediol Market worth $11.0 billion by 2027 | Key players BASF SE, DCC, Sinopec Yizheng Chemical Fibre Co., Ltd., Nan Ya Plastics Corporation, Xinjiang Tianye Co., Ltd.

According to recent market research the "1,4-Butanediol Market by Type (Synthetic and Bio-based), Application (Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), Gamma Butyrolactone (GBL), Polyurethane (PU)), and Region (APAC, North America, Europe, RoW) - Global Forecast to 2027", is projected to grow from USD 7.3 billion in 2022 to USD 11.0 billion by 2027, at a CAGR of 8.5% during the forecast period. High demand from automotive industry is expected to drive the BDO market.

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Based on type, BDO is classified into synthetic, and bio based. Bio based BDO is expected to account for the fastest growing segment in 2022, in terms of value and volume. With rising awareness about the benefits of utilizing ecofriendly, recyclable, and sustainable elements in residential and commercial applications, the demand is growing for bio-based products. This in turn is leading to the market expansion of 1,4-Butanediol.

Based on application, 1,4-Butanediol is classified into THF, PBT, GBL, PU, and others. Currently, THF is widely used in various applications such as solvents, PTMEG, and others. Among these, THF finds its major application in the manufacturing of PTMEG, which is the feedstock for various fibers, including Spandex. Thus, the significant growth related to the textile industry across the globe is generating the market for BDO.

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Asia Pacific is expected to lead the BDO market during the forecast period by value. This demand can be attributed to the increasing production capacities with rising demand from automotive industry. Particularly, the emerging economies such as China, Malaysia, Thailand, and India, have made Asia Pacific a huge market for BDO. Moreover, China is one of the largest markets for BDO across the globe and is expected to contribute a major portion to the overall regional demand for 1,4-Butanediol during the forecast period.

Some of the leading players in this market include BASF SE (Germany), DCC (Taiwan), Sinopec Yizheng Chemical Fibre Co., Ltd. (China), Nan Ya Plastics Corporation (Taiwan), and Xinjiang Tianye (Group) Co., Ltd. (China), among others.

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BASF SE is one of the major players in the global 1,4-Butanediol market. It is involved in the production and selling of 1,4-Butanediol. The company serves more than 90 countries across the Americas, Asia Pacific, and other regions of the world. It has about 390 domestic manufacturing facilities across Europe along with other overseas manufacturing facilities which allows the company to meet the consumer demand. The company has a considerable focus on its chemicals segment as it generates 17% of revenue for the company. This indicates a good platform for the growth of its 1,4-Butanediol business.

Another important player in the global 1,4-Butanediol market is Genomatica, Inc. In June 2021, Geno BDO biomanufacturing process technology, developed by Genomatica, has been licensed to Cargill. Cargill used it in its joint venture with Helm, Qore, to create renewable 1,4-butanediol. Genomaticas technology will enable a combined, global production capacity of over 100,000 tons per year of renewable BDO once this facility is finished in 2024. With this expansion, Genomatica, Inc. will be more capable of meeting the rising demand for 1,4-Butanediol in the North American market and ensure steady customer supply.

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