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1,4 Butanediol Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

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  • 155 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4520119
The global 1,4 butanediol market was valued at around 2160 kiloton in 2021 and is projected to register a CAGR of over 3% during the forecast period.

Butanediol (1,4-butanediol) is a chemical. Floor strippers, paint thinners, and other solvent goods in the industrial sector are made using this chemical. It's occasionally used in supplements to replace illicit chemicals like gamma-butyrolactone (GBL) and gamma-hydroxybutyrate (GHB).
  • Over the long run, increasing demand for polybutylene terephthalate (PBT) from various industries and stringent government regulations are expected to stimulate the market demand.
  • A shift in focus toward eco-friendly products is expected to create opportunities for the market over the coming years.
  • The Asia-Pacific region is expected to dominate the market and witness the highest CAGR during the forecast period.

Key Market Trends

Growing Demand in the Automotive Industry

  • 1,4 butanediol is widely used in producing PBT, which is further used in producing automotive components.
  • In the automotive sector, PBT allows for energy absorption, weight reduction, shock absorption for bumpers, restriction of explosion risk in fuel tanks, seat belts, airbags, door and seat assemblies, subsystems, bumpers, under-bonnet components, exterior trims, and various other applications.
  • Polyurethane foams can be found in seats, armrests, and headrests of most cars, where their cushioning properties help reduce the fatigue and stress often associated with driving. In addition, spandex fabric derived from THF is used to manufacture door panel fabrics that stretch and adhere to the door and the car’s seat fabric.
  • Since polyurethanes are strong and light, the overall weight of cars is reduced, resulting in greater fuel efficiency and improved environmental performance.
  • According to OICA data, the global automotive production in 2021 increased by 3% compared to the previous year. The total global production of automobiles was around 80,145,988 units in 2021.
  • Therefore, owing to the abovementioned factors, the demand for 1,4 BDO products in the automotive end-user industry is expected to positively impact the market studied during the forecast period.

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominates the global market. The regional demand for the market studied is driven by growing demand from various industries such as electronics, leather, and electronics.
  • China is the largest automotive producer in the world and is now focusing on developing electric vehicles.
  • Besides, China has the world’s largest electronics production base. Electronic products, such as smartphones, OLED TVs, tablets, wires, cables, earphones, etc., have the highest growth in the electronics segment. With the increase in disposable income of the middle-class population and increasing demand for electronic products from countries importing electronic products from China, the production of electronics has increased.
  • In India, the government has also been pushing the growth of the electronics industry through initiatives, such as a Phased Manufacturing Programme (PMP), to add more smartphone components under the “Make in India” initiative and push the domestic manufacturing of mobile handsets.
  • Additionally, with the increasing income of the population, the demand for consumer appliances, such as air-conditioners, fridges, washing machines, microwaves, etc., has noticeably increased, which is further driving the growth of the consumer appliances market. The growth in the electronics industry is expected to create opportunities for the use of chemicals used in production, thus accelerating the growth of 1,4 butanediol.
  • As per JEITA data for January 2022, the total number of imports of consumer electronics amounted to JPY 71,519 million.
  • Hence, such favorable trends are expected to drive the demand for 1,4 butanediol during the forecast period.

Competitive Landscape

The 1,4 butanediol market is partially consolidated in nature. Some of the major market players include BASF SE, DCC, Xinjiang Tianye (Group) Co. Ltd, Sinopec Yizheng Chemical Fibre LLC, and Nan Ya Plastics Corporation.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study
4.1 Drivers
4.1.1 Increasing Demand for Tetrahydrofuran (THF) for Spandex Fibers
4.1.2 Increasing Demand for Polybutylene Terephthalate (PBT) from Various Industries
4.2 Restraints
4.2.1 Shutdown of 1,4 Butanediol Plants Throughout the Years
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5.1 Derivative
5.1.1 Tetrahydrofuran (THF)
5.1.2 Polybutylene Terephthalate (PBT)
5.1.3 Gamma-Butyrolactone (GBL)
5.1.4 Polyurethane (PU)
5.1.5 Other Derivatives
5.2 End-user Industry
5.2.1 Automotive
5.2.2 Healthcare and Pharmaceutical
5.2.3 Textile
5.2.4 Electrical and Electronics
5.2.5 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom France Italy Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Ashland
6.4.2 BASF SE
6.4.3 DCC
6.4.4 LyondellBasell Industries Holdings BV
6.4.5 Mitsubishi Chemical Corporation
6.4.6 Nan Ya Plastics Corporation
6.4.7 Sinopec Yizheng Chemical Fibre LLC
6.4.8 Sipchem
6.4.9 Shanxi Sanwei Group Co. Ltd
6.4.10 Xinjiang Guotai
6.4.11 Xinjiang Tianye (Group) Co. Ltd
6.4.12 Xinjiang Blueridge Tunhe Chemical Industry Co. Ltd
7.1 Rising Development of Bio-based BDO
7.2 Reducing Carbon Footprint of Clothing

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Ashland
  • DCC
  • LyondellBasell Industries Holdings BV
  • Mitsubishi Chemical Corporation
  • Nan Ya Plastics Corporation
  • Sinopec Yizheng Chemical Fibre LLC
  • Sipchem
  • Shanxi Sanwei Group Co. Ltd
  • Xinjiang Guotai
  • Xinjiang Tianye (Group) Co. Ltd
  • Xinjiang Blueridge Tunhe Chemical Industry Co. Ltd