New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "1, 4 Butanediol Global Market Report 2023" - https://www.reportlinker.com/p06464173/?utm_source=GNW
, Genomatica Inc., Xinjiang Tianye (Group) Co Ltd., ExxonMobil Chemical, Invista, Myriant Corporation, Sipchem Company, Chemtura Corporation, Chongqing Jianfeng Chemical Co Ltd., Shell Plc, and Mitsui & Co Ltd.
The global 1,4 butanediol market is expected to grow from $8.19 billion in 2022 to $8.89 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The 1,4 butanediol market is expected to reach $11.93 billion in 2027 at a CAGR of 7.6%.
The 1,4-butanediol market consists of sales of synthetic 1,4-butanediol and biobased 1,4-butanediol.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
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
Asia-Pacific was the largest region in the 1,4 butanediol market in 2022. The regions covered in 1,4-butanediol report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main 1, 4 butanediol types are synthetic and bio based.Synthetic refers to substances that are created by man as opposed to being obtained from nature.
The various applications are tetrahydrofuran (thf), polybutylene terephthalate (pbt), gamma butyrolactone (gbl), polyurethane (pu), and others, used in chemical, sports, automotive, electronic, footwear, and others.
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.
Product innovation is the key trend gaining popularity in the 1,4-butanediol market.Major companies operating in the 1,4-butanediol market are focused on developing innovative products to strengthen their position in the market.
For instance, in May 2022, Yuanli Chemical Group Co., Ltd., a China-based company that is primarily involved in the invention, manufacturing, and marketing of fine chemicals, launched bio-BDO. Bio-BDO has a wide range of potential applications, including those for Spandex, biodegradable polymers, polyurethane, shoe materials, and novel energy batteries, among others. Bio-BDO offers the benefits of being green, renewable, energy-efficient, and emission-reducing, which will not harm the environment, and is a green product to fulfill the development criteria of carbon emission reduction, offering new options for users.
In September 2021, Cargill, a US-based company that operates in the agriculture, industrial, and risk management sectors, acquired Arkema S.A.’s epoxides business for $39 million. Through this acquisition, Cargill is well-positioned to address the expanding need for bio-based solutions in the plastics, automotive, and other industries. The investment will enable Cargill to produce bio-based plasticizers and polyols from beginning to finish, allowing the business to better serve its industrial clients by providing them with natural substitutes for conventional petroleum-based additives. Arkema S.A. is a France-based company that operates in the adhesives, advanced materials, and coatings divisions.
The countries covered in the 1, 4 butanediol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The 1, 4 butanediol market research report is one of a series of new reports that provides 1, 4 butanediol market statistics, including 1, 4 butanediol industry global market size, regional shares, competitors with a 1, 4 butanediol market share, detailed 1, 4 butanediol market segments, market trends and opportunities, and any further data you may need to thrive in the 1, 4 butanediol industry. This 1, 4 butanediol market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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