The global 1,4 butanediol market size was valued at USD 6.19 billion in 2015 and is expected to grow at an estimated CAGR of 7.7% from 2016 to 2025. Increasing applications of its derivatives 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 derivatives of BDO, is widely utilized in multiple 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.
U.S. BDO revenue by application, 2014-2025 (USD Million)
Growing awareness regarding the processing and utility benefits of these, and other BDO derivatives, are responsible for industry expansion. Major multinationals are also shifting their production capabilities towards emerging economies in Asia Pacific, and introducing new technologies, which is anticipated to drive innovation in the near future.
Increasing environmental concerns and depletion of non-renewable resources such as crude oil and natural gas have spurred 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 BDO production and consumption.
Growing demand for spandex production has largely influenced THF consumption in recent years. The segment occupied over 50% of the volume share in 2015 and is expected to remain the dominant application over the near future as well. Rising health, fitness, and sports awareness has also driven the demand for flexible, yet comfortable athletic & sportswear. This, in turn, has contributed positively to THF consumption in spandex fiber applications.
Polyurethane (PU) emerged as another fast-growing application, with the rising consumption of lightweight and durable parts for the automotive, construction and electronics sectors. Extensive R&D in global plastics industry on account of mutable needs has prompted the development of novel PU products which outperform conventional plastics. PU is thus likely to grow at over 7.2% in terms of revenue from 2016 to 2025.
Other products such as gamma butyrolactone (GBL) and polybutylene terephthalate (PBT) are also expected to grow at commendable rates on account of their increasing consumption in varied end-use industries.
Asia Pacific emerged as the largest 1,4 BDO consumer in recent years, with over 63% volume share in 2015. The region is home to several rapidly expanding industries and wide consumer pool with growing income levels, which has helped shape the industry dynamics.
Major multinational producers in developed countries are also attempting to utilize low cost labor & resources in emerging economies such as India, Vietnam, Thailand and Indonesia. The region is thus expected to grow at the highest CAGR of 8.5% from 2016 to 2025.
China BDO market volume share, by application, 2015
Central & South America (CSA) is anticipated to remain a fast-growing market. The expansion of the construction sector & infrastructural development to spur regional trade activities & build communication networks is driving PU consumption, which is conducive to industry growth.
Developed regions such as North America and Europe may grow at lower rates, owing to end-use industry saturation and downward revision of GDP growth rates in major economies such as the U.S. and Canada.
Key players include BioAmber Inc., BASF SE, ExxonMobil Chemicals, International Specialty Products, Mitsubishi Chemical Corporation, Invista, LyondellBasell Industries and The Dow Chemical Company.
Other significant industry participants include Myriant Corporation, Dairen Chemical Corporation, Toray Industries Inc., Sipchem and Genomatica among others. The market is concentrated in the hands of these and other key players, compelling new entrants to adopt new products & technologies that compete with existing multinationals in the industry.
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Attribute |
Details |
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Base year for estimation |
2016 |
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Actual estimates/Historical data |
2014 - 2016 |
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Forecast period |
2016 - 2025 |
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Market representation |
Volume in Kilo Tons; Revenue in USD Million and CAGR from 2016 to 2025 |
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Regional scope |
North America, Europe, Asia Pacific, CSA, MEA |
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Country scope |
U.S., Germany, UK, France, Turkey, China, India, Japan, Brazil and Saudi Arabia |
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Report coverage |
Volume & revenue forecast, competitive landscape, growth factors and trends |
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15% free customization scope (equivalent to 5 analyst working days) |
If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
This report forecasts volume & revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this report, Grand View Research has segmented the 1,4 butanediol market on the basis of application & region:
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Tetrahydrofuran (THF)
Polybutylene Terephthalate (PBT)
Gamma-Butyrolactone (GBL)
Polyurethanes (PU)
Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
North America
U.S.
Europe
Germany
UK
France
Asia Pacific
China
India
Japan
Central & South America (CSA)
Brazil
Middle East & Africa (MEA)
Saudi Arabia
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