1, 4-Butanediol Market - To Observe USD 6.9 Billion In 2020

Butanediol, or 1, 4 butanediol, as it is also called, is an intermediate chemical for gamma-butyrolactone (GBL), polyurethane (PU), polytetramethylene ether glycol (PTMEG), tetrahydrofuran (THF), and polybutylene terephthalate (PBT). A new study by Grand View Research, Inc. confirms that the worldwide 1, 4-butanediol market was worth around USD 4.7 billion in 2013. For Market Research Report on “1, 4-Butanediol Market” Visit - http://www.grandviewresearch.com/industry-analysis/1-4-butanediol-market It is likely to reach about USD 6.9 billion in 2020. Enhanced demand for butanediol across consumer industries will fuel market growth. High requirement for sports apparel is triggering the demand for spandex and THF. This will prove beneficial for the market. Rapid development in emerging economies is also contributing to industry growth. Worldwide sporting events like 2016 Summer Olympics and 2018 FIFA World Cup will accelerate infrastructural developments in Brazil and Russia respectively. This will, in turn, raise the sales of the 1, 4-butanediol market. Fluctuating prices of source materials and high manufacturing costs are estimated to hamper market development. Growing concerns about this product’s adverse impact on environment is yet another restrainer. Market participants are engaged in replacing synthetic 1, 4-butanediol with commercially-viable bio-based alternatives. THF, with more than 28% of global volumes, was the largest application in 2013. PU’s contribution to the overall volume was more than 24% in 2013. This segment is anticipated to grow at the fastest pace from 2014 to 2020, at a CAGR of 5.2%. The robust construction and footwear industries in China, India, and some other parts of Asia Pacific will spur this growth. PBT accounted for about 21% of the total volume in 2013. GBL will grow further owing to its huge requirement in various downstream applications. Asia Pacific, with more than 54% of the total volumes, was the leader in 2013. It will experience the fastest growth from 2014 to 2020, at a CAGR of 5%. The emerging economies of India and China are key contributors to this stellar performance. High disposable incomes in these nations are resulting in the strong growth of automotives, construction, and footwear industries. North America’s share in the 1, 4-butanediol market was about 308 kilo tons in 2013. The North American and European markets have matured. Most of the growth in these regions will emerge from bio-based substitutes. The regions will exhibit sluggish demand for synthetic butanediol in the future. The dominating players in the 1, 4-butanediol market are Dairen Chemicals, Lyondell Chemicals, BASF SE, Mitsubishi Chemicals, Shanxi Sanwei Group, Invista, and International Speciality Products. 1, 4-Butanediol Market Information Source: Grand View Research

Request free sample