According to TechSci Research report, “1,4-Butanediol Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global 1,4-Butanediol Market stood at USD 6.68 billion in 2022 and is anticipated to grow with a CAGR of 4.35% in the forecast period, 2023-2028. The initiatives taken by government based on 1,4-butanediol has led to favorable market conditions for the Global 1,4-Butanediol Market. Several factors contribute to the growth of various 1,4-butanediol products One of the notable government initiatives impacting the BDO market is the global push towards electric vehicles (EVs). Governments worldwide are implementing comprehensive policies and regulations to enhance the sales and adoption of EVs, recognizing their potential to reduce carbon emissions and combat climate change. As EVs become increasingly popular, the demand for various components and materials used in their manufacturing is also on the rise. Polybutylene Terephthalate (PBT), a plastic made from BDO, is extensively used in the production of electric vehicles. PBT offers exceptional mechanical strength, heat resistance, and electrical insulation properties, making it an ideal material for various EV components such as connectors, housings, and wiring harnesses. The increasing focus on sustainable transportation and the shift towards cleaner energy sources have significantly propelled the demand for EVs and, in turn, the demand for PBT.
Taking Canada as an example, the government has been actively promoting the adoption of electric vehicles through a range of incentives and support measures. These include tax credits, subsidies, and infrastructure investments to expand the charging network across the country. By encouraging consumers to switch to EVs, the Canadian government aims to reduce greenhouse gas emissions and create a more sustainable transportation system.As the adoption of EVs continues to grow globally, the demand for PBT and other BDO-related products is expected to rise further. This surge in demand presents significant opportunities for the BDO market, driving innovation and investment in BDO production facilities. The combination of government initiatives, technological advancements, and changing consumer preferences is reshaping the landscape of the BDO market, making it a promising sector for future growth and development.
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1,4 Butanediol (BDO/1,4-BD) is a versatile and flexible medium liquid diol, possessing primary hydroxyl reactive functionalities. Its linear structure enables the formulation of polyurethanes with exceptional hardness balance and low flexibility even at high temperatures. With remarkable strength, durability, and thermal stability, 1,4 Butanediol (BDO) serves as a crucial raw material for polyester and polyurethane resins. These resins, acting as chain extenders and hard segments, exhibit outstanding features. By utilizing 14BG diol as a chain extender, urethane elastomers can be produced with exceptional mechanical properties, as well as high heat, oil, and impact resistance. The increasing demand for lightweight and durable components in automotive, construction, and electronics sectors has led to a surge in polyurethane demand. Consequently, extensive research and development efforts within the global plastics industry have resulted in the development of new polyurethane products that surpass conventional plastics in performance and versatility.
The Global 1,4-Butanediol Market is segmented into derivative, end user industry, regional distribution, and company. Based on its derivative, the tetrahydrofuran (THF) segment held the largest share in the market. The high share of the plastics market can be primarily attributed to the growing use of poly-tetramethylene glycol (PTMEG) for the production of urethane elastomers and fibers. PTMEG, known for its exceptional flexibility and elasticity, has seen an increasing demand, driving the overall growth of the market. Additionally, the application of polybutylene terephthalate (PBT) has emerged as the second-largest revenue contributor, with a global share of 21.6% in 2022. This can be attributed to the rising consumption of plastics in the automotive industry, particularly due to the strong demand for lightweight vehicles. The continuous innovation and advancements in the plastics industry have been instrumental in meeting the evolving needs of various sectors and driving the market’s expansion.
Based on region, Asia Pacific segment is expected to grow during the forecast period. The availability of skilled labor, coupled with the easy accessibility of land, is one of the key factors contributing to the growth in the market. In developing countries, particularly in China and India, there has been a significant shift in the production landscape, which is expected to further drive market growth during the forecast period. These regions are considered hubs for various expanding industries, including construction, automotive, electronics, and others, which present immense potential for manufacturers of 1,4 BDO. In fact, China’s construction market is poised to outperform other South-East Asian countries, primarily due to the government’s initiatives and funding aimed at sustaining its overall development. This favorable business environment and supportive measures are expected to create a conducive atmosphere for the growth and success of the 1,4 BDO industry in the region.
Major companies operating in Global 1,4-Butanediol Market are:
- Ashland Inc.
- LyondellBasell Industries Holdings BV
- Mitsubishi Chemical Corporation
- NAN YA PLASTICS CORPORATION
- SINOPEC YIZHENG CHEMICAL FIBRE LIMITED LIABILITY COMPANY
- Shanxi Sanwei Group Co. Ltd
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“Growing application of 1,4-butanediol in various end user industries are key drivers of the 1,4-butanediol market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of 1,4-butanediol with every passing year are anticipated to register an impressive growth to Global 1,4-Butanediol Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“1,4-Butanediol Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Derivative (Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), Gamma-Butyrolactone (GBL), Polyurethane (PU), Others), By End User Industry (Automotive, Healthcare and Pharmaceuticals, Textile, Electrical and Electronics, Others), By Region and Competition, 2018-2028F”, has evaluated the future growth potential of Global 1,4-Butanediol Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global 1,4-Butanediol Market.
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