Press release
Bio-butanediol Market Share Will Hit $392.9 Million By 2030 | Growth with Recent Trends & Demand
Bio-butanediol is used in the production of commercially important polymers such as thermoplastic polyurethane, polytetramethylene ether glycol, polybutylene terephthalate, tetrahydrofuran, and n-methyl-2-pyrrolidone.
Bio-based production refineries are novel, productive models that are focused on the production of bio-based alternatives to fossil-based products. Increase in concerns pertaining to sustainability and adverse environmental impact boosts the demand for bio-based products. Bio-butanediol is expected to replace the fossil-based butanediol completely during the next few years. This is attributed to low cost of bio-butanediol and similar properties when compared to fossil-based butanediol. These factors are predicted to notably contribute toward the growth of the global bio-butanediol market during the forecast period.
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Bio-butanediol is expected to face tough competition from its fossil-based counterpart until a commercial production process for the production of bio-butanediol is streamlined. This factor is expected to hamper the growth of the global bio-butanediol market during the forecast period.
Bio-butanediol exhibits several advantages over fossil-based butanediol such as it reduces greenhouse gas emissions by more than 60% during its lifecycle as compared to fossil-based butanediol. This factor is anticipated to create remunerative opportunities for the expansion of the bio-butanediol market in the future.
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The bio-butanediol market is segmented on the basis of source, application, end use, and region.
By source, the market is segregated into sugar and biomass. The sugar segment dominated the global bio-butanediol market in terms of revenue in 2020, with over three-fourth of the total share. Dextrose (a type of sugar) was successfully used for the commercial-scale production of bio-butanediol.
On the basis of application, the bio-butanediol market is classified into polytetramethylene ether glycol, thermoplastic polyurethane, polybutylene terephthalate, tetrahydrofuran, n-methyl-2-pyrrolidone, and others.
Key Benefits for Stakeholders:
► The report outlines the current trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
► Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
► The major countries have been mapped according to their individual revenue contribution to the regional market.
► The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.
► The profiles of key players and their key strategic developments are enlisted in the report.
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Key Market Players:
► Novamont s.p.A
► Roquette Frères
► Genomatican Inc
► Biokemik
► Cargill Incorporated
► Qira
► Shandong Landian Biological Technology Co. Ltd
► BASF SE J
► Rettenmaier & Söhne GmbH + Co KG
► Yuanli Chemical Group Co.Ltd
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Frequently Asked Questions:
Q1. What are the key factors boosting the Bio-BDO (Butanediol) market growth?
Answer: Increasing adoption of lightweight materials in automotive sector and Rapid shift towards eco-friendly products are the key factors boosting the Bio-BDO (Butanediol) market growth.
Q2. What will be the market value of Bio-BDO (Butanediol) in the forecast period 2021 to 2030?
Answer: The global bio-butanediol market was valued at $190.6 million in 2020, and is projected to reach $392.9 million by 2030, growing at a CAGR of 7.5% from 2021 to 2030.
Q3. What are the most established players of the global Bio-BDO (Butanediol) market?
Answer: The major companies profiled in this report include Novamont S.p.A, BASF SE, Genomatica Inc., Qira, Yuanli Chemical Group Co. Ltd., Biokemik. It also includes raw materials suppliers such as Shandong Landian Biological Technology Co. Ltd., Roquette Frères, J. Rettenmaier & Söhne GmbH + Co KG., and Cargill Incorporated.
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