[FURL=https://www.industryarc.com/Report/16434/14-butanediol-market.html]1,4 Butanediol Market[/FURL] size is forecast to reach $11.1 billion by 2025, after growing at a CAGR of 7.2% during 2020-2025. 1,4 Butanediol, generally referred to as BDO, is an organic compound primarily used as a solvent in industrial cleaners and glue removers such as tetrahydrofuran (THF). The increasing demand for polybutylene terephthalate (PBT) from different industries and the strict government regulations are the key factors driving the growth of the 1,4 Butanediol market. Also, increasing demand for the bio-based 1,4-butanediol market in the application of vehicles from the automotive sector will drive the1, 4 Butanediol industry in the forecast period.Key Takeaways
APAC dominates the 1, 4 butanediol market due to increasing production of complex grease and lubricants as well as polyvinyl chloride materials.
The change in preference towards environmentally friendly goods, increasing research into the production of bio-based PBTs and technological developments are likely to provide opportunities for the growth of the market during the forecast period.
Increasing demand for1, 4 butanediol in electronic products from various countries will drive the market for 1, 4 Butanediol market in the projected period.
The COVID-19 pandemic and subsequent halt in manufacturing activities shall have an impact on the supply availability of a variety of chemicals such as 1, 4 Butanediol. Furthermore, current disruption in trade shall also gravely impact the availability of 1, 4 Butanediol chemical stocks in import-dependent countries.
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1, 4 Butanediol Market Segment Analysis - By Geography
Asia Pacific held the largest share with 38% in 1, 4 Butanediol Market in 2019. The demand for 1, 4 Butanediol market is driven by the increasing demand from various end use industries. In the Asia-Pacific region, automotive production in countries such as India, Indonesia, Malaysia and Thailand have been rising. China is the world's largest automotive producer, and is now focusing on electric vehicle development. The region is witnessing numerous investments in the automotive industry by global automakers, such as BMW, Hyundai Motors, and Honda, to increase production and meet the growing demand of the region's masses for automobiles. According to the International Trade Administration, China is the largest automotive market in the world, with the Chinese government forecasting car production to hit 30 million units by 2020, and 35 million by 2025. India also became the fourth largest car market with sales rising 8.3% year-on-year to 3.99 million units, according to the India Brand Equity Foundation in 2018. In 2018, it was also the seventh biggest industrial vehicle producer.
Major players in the 1,4 butanediol market are BASF SE, Chongqing Jian Feng Chemical Industry Co. Ltd, Dairen Chemical Corporation, Invista S.A.R.L, Saudi International Petrochemical Company (SIPCHEM), Shanxi Sanwei Group Co. Ltd, Genomatica Inc., SK Global Chemical Co. Ltd., Mitsubishi Chemical Corporation, Mitsui & Co. Ltd. among others.
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