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1, 4-Butanediol Market, Growth Rate, Overview, Market Segmentation and Forecast By 2027
1, 4-Butanediol is growing at a CAGR of 8.18% during forecasted period (2016-2027). Increasing applications of 1, 4-Butanediol in various industrial processes along with the growing demand for spandex in textiles have been responsible for driving growth in recent years.
Tetrahydrofuran (THF), one of the major application of 1, 4-Butanediol, is widely utilized in various applications such as in the production of polytetramethylether glycols (PTMEG). This is further processed to derive spandex, and as an intermediate in manufacturing natural gas odorants owing to its wide liquid range. Additionally, growing awareness regarding the processing benefits of these, and other BDO applications, are responsible for industry expansion. Major players are shifting their production plant in emerging economies in Asia-Pacific, and introducing new technologies, which is anticipated to drive innovation in the near future.
On the other hand, increasing environmental concerns and reduction of non-renewable resources such as crude oil and natural gas have stimulated the development of several innovative, sustainable technologies that utilize bio-based, renewable resources for production. The transference towards sustainable products is also responsible for driving bio-based 1, 4-Butanediol production and consumption.
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Key Players and Competition Analysis
The key players in market includes:
- BASF SE,
- Mitsubishi Chemical Corporation,
- Ashland Inc,
- Bioamber Inc,
- LyondellBasell Industries N.V, ExxonMobil Chemicals,
Objectives of Global 1, 4 butanediol Market:
To study detail of global 1, 4-Butanediol Market Share by application and by region in forecasted period 2027. To identify the market dynamics of global 1, 4-Butanediol market dynamics by drivers, restrains, opportunities and challenges. To analyze various factors like value chain analysis and porters five forces model. To provide historical and forecast revenue of market segment with respect to North America, Europe, APAC and RoW. To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market. To track mergers and acquisitions, strategic alliances, new product development of specified company.
Regional Analysis of Global 1, 4 butanediol Market
Globally, Asia Pacific emerged as the largest 1, 4-Butanediol consumer in recent years, with highest volume share in 2016. Major key players of the market of developed countries are focusing on various strategies they are utilizing low cost labor & resources in emerging economies such as India, Vietnam, Malaysia, Thailand and Indonesia. The region is expected to grow at the highest CAGR from 2016 to 2025. Central & South America is anticipated to remain a fast-growing market. North America and Europe will have sluggish growth rate, owing to end-use industry major economies such as the U.S. and Canada
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