1,4-Butanediol Market was valued at USD 7,312.8 million in 2022 and is poised to grow at a CAGR of 7.5% over 2023-2029. 1,4-Butanediol (BDO) is a versatile liquid diol intermediate with reactive primary hydroxyl functionality and a linear structure that makes it ideal for formulating polyurethane elastomers with an excellent balance of properties and cost and is used in the creation of numerous industrial and consumer goods. The increased demand for the production of polymers and plastics, such as polybutylene terephthalate (PBT) and polyurethane drives the market. According to research conducted, 359 million metric tons of plastic were produced in 2018.
Furthermore, the increased expansion and production of engineering plastics in the automotive and aerospace industries owing to it being lightweight and having high-performance properties is anticipated to propel the market demand. Additionally, the creation and commercialization of bio-based BDO production techniques has presented an opportunity to capitalize on the expanding market for environmentally friendly and sustainable goods. Industries and consumers aiming to lessen their carbon footprint and reliance on fossil fuels find bio-based BDO appealing. Currently, the increased insistence on vehicles being lightweight to increase fuel efficiency and lower pollution in the automobile sector has made composites and polymers made from BDO-derived materials popular in the market. But the reliance on BDO production on feedstocks like butane or natural gas derivatives that are limited along with the constant fluctuations in the availability and price of these raw materials may hinder the market. However, the increased demand from the automotive and textile industry, advanced infrastructure, increased disposable income and emergence of new players in the market are anticipated to burgeon the market during the forecast period.
Fastest Growing Market
The market is expected to rise as the davy process is widely used in the industry due to its efficiency and ability to produce high-quality BDOThe Davy Process is a catalytic hydrogenation process that converts maleic anhydride or succinic acid into BDO. The Davy Process is well-known in the industry for its effectiveness in converting feedstocks into BDO and its ability to create BDO with high yields and purity, making it a preferred technique for BDO production on a large scale. Additionally, because of its affordability, reduced complexity, equipment requirements, and production efficiency, the Davy Process frequently gives enterprises a competitive edge in the BDO market. Furthermore, this technique is a preferred option for many manufacturers since it often uses petrochemical-based feedstocks like maleic anhydride or succinic acid, both of which have a long history of use in the synthesis of BDO.
The 1,4-butanediol market valued at USD 7,312.8 million in 2022 and is expected to grow at 7.5% CAGR over the forecast period 2023 – 2029.
The increased demand for the production of polymers and plastics, such as polybutylene terephthalate (PBT) and polyurethane drives the market.
BASF, Dairen Chemical, Lyondellbasell, Ashland, Nanya Plastics Corporation, Mitsubishi Chemical Corporation, INVISTA, MarkorChem, Xinjiang Tianye, Changcheng Energy, Shanxi Sanwei Group, Shanxi BidiOu, Sichuan Tianhua, Henan Kaixiang Fine Chemical, HNEC, TunHe are a few companies operating in 1,4-Butanediol market.