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1,4 Butanediol Market Insights: Exploring Market Segments, Key Trends, and Growth Drivers in a $13.06 Billion Market by 2033
1, 4 Butanediol Market
As per the report, the 1, 4 butanediol market size has grown strongly in recent years. It will grow from $8.84 billion in 2023 to $9.61 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The 1, 4 butanediol market size is expected to see strong growth in the next few years. It will grow to $13.06 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
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1,4-Butanediol Market Thrives On Automotive Industry Surge
The increasing automotive sector is expected to propel the growth of the 1,4-butanediol market in the coming future. The automotive sector encompasses businesses involved in the creation, distribution, sale, and upkeep of automobiles. In automotive sector, the manufacture of vehicle's bumpers, fenders, spoilers, and automobile front and rear end fascia require urethane elastomers made from 1,4-butanediol. Thus, the increasing demand from the automotive sector boosts the expansion of the 1,4-butanediol market. For instance, in March 2022, according to the European Automobile Manufacturers Association, a Belgium-based association that integrates Europe's 14 largest auto, truck, van, and bus manufacturers, over 6.3 million passenger automobiles were produced at US auto facilities in 2021, an increase of 3.1% from the preceding year. Therefore, the increasing automotive sector is driving the 1,4-butanediol market.
Unleashing The Potential Of 1,4-Butanediol Market Through Product Innovation
Product innovation is the key trend gaining popularity in the 1,4-butanediol market. Major companies operating in the 1,4-butanediol market are focused on developing innovative products to strengthen their position in the market. For instance, in May 2022, Yuanli Chemical Group Co., Ltd., a China-based company that is primarily involved in the invention, manufacturing, and marketing of fine chemicals, launched bio-BDO. Bio-BDO has a wide range of potential applications, including those for Spandex, biodegradable polymers, polyurethane, shoe materials, and novel energy batteries, among others. Bio-BDO offers the benefits of being green, renewable, energy-efficient, and emission-reducing, which will not harm the environment, and is a green product to fulfill the development criteria of carbon emission reduction, offering new options for users.
The 1, 4 butanediol market covered in this report is segmented -
1) By Type: Synthetic, Bio Based
2) By Application: Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), Gamma Butyrolactone (GBL), Polyurethane (PU), Others
3) By End-Use: Chemical, Sports, Automotive, Electronic, Footwear, Others
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Major companies operating in the 1, 4 butanediol market report are BioAmber Inc., BASF SE, Ashland Global Holdings Inc., Mitsubishi Chemical Corporation, SK Global Chemical Co Ltd., Dairen Chemical Corporation, LyondellBasell Industries NV, Dow Inc., Genomatica Inc., Xinjiang Tianye Co Ltd., ExxonMobil Corporation, Koch Industries, PTT Global Chemical Public Company Limited, Saudi International Petrochemical Company, Chemtura Corporation, Chongqing Jianfeng Chemical Co Ltd., Royal Dutch Shell plc, Mitsui & Co Ltd., DCC plc., Nan Ya Plastics Corporation, Sinopec Yizheng Chemical Fibre Company Limited, Shanxi Sanwei Group Co. Ltd, Invista S.à r.l., Nanjing Bluestar Co. Ltd., Oxea GmbH, TCC Group, Formosa Plastics Corporation, International Specialty Products, Huntsman Corporation, Myriant Corporation, Davy Process Technology .
Contents of the report:
1. Executive Summary
2. 1, 4 Butanediol Market Report Structure
3. 1, 4 Butanediol Market Trends And Strategies
4. 1, 4 Butanediol Market - Macro Economic Scenario
5. 1, 4 Butanediol Market Size And Growth
…..
27. 1, 4 Butanediol Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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