Overview and Scope
1,4-Butanediol is a colourless and water-soluble, thick fluid with a high point of boiling (230°C) at room temperature used as a source of gamma-hydroxybutyrate (GHB), a recreational drug with euphoric and sedative effects. It is also utilized in the synthesis of various organic compounds, especially the solvent oxolane (also known as tetrahydrofuran, or THF). It functions as a protic solvent, prodrug, and neurotoxin
Sizing and Forecast
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 growth in the historic period can be attributed to demand from polybutylene terephthalate (pbt) production, growing textile industry usage, expansion in the automotive sector, increasing demand for tetrahydrofuran (thf), use in pharmaceutical and cosmetic products..
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%. The growth in the forecast period can be attributed to growth in bio-based 1,4 butanediol production, expanding end-use applications, rising demand for polyurethane, increased adoption in resin and coating formulations, focus on sustainable chemical production.. Major trends in the forecast period include market expansion in asia-pacific, technological advancements in production, fluctuations in raw material prices, innovation in product applications..
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the 1,4 butanediol market in 2023. The regions covered in the 1, 4 butanediol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
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 .
The 1, 4 butanediol market report table of contents includes:
1. Executive Summary
2. 1, 4 Butanediol Market Characteristics
3. 1, 4 Butanediol Market Trends And Strategies
4. 1, 4 Butanediol Market – Macro Economic Scenario
5. Global 1, 4 Butanediol Market Size and Growth
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31. Global 1, 4 Butanediol Market Competitive Benchmarking
32. Global 1, 4 Butanediol Market Competitive Dashboard
33. Key Mergers And Acquisitions In The 1, 4 Butanediol Market
34. 1, 4 Butanediol Market Future Outlook and Potential Analysis
35. Appendix
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