The report “1,4-Butanediol Market by Type (Synthetic and Bio-based), Application (Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), Gamma Butyrolactone (GBL), Polyurethane (PU)), and Region (APAC, North America, Europe, RoW) – Global Forecast to 2027″, is projected to grow from USD 7.3 billion in 2022 to USD 11.0 billion by 2027, at a CAGR of 8.5% during the forecast period. High demand from automotive industry is expected to drive the BDO market.
Get PDF Brochure for Research Insights at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=685
Bio-based BDO, by type, is expected to be the fastest-growing segment of the 1,4-Butanediol market, during the forecast period
Based on type, BDO is classified into synthetic, and bio-based. Bio-based BDO is expected to account for the fastest-growing segment in 2022, in terms of value and volume. With rising awareness about the benefits of utilizing eco-friendly, recyclable, and sustainable elements in residential and commercial applications, the demand is growing for bio-based products. This in turn is leading to the market expansion of 1,4-Butanediol.
THF, by application, is expected to be the largest segment for BDO market, during the forecast period
Based on application, 1,4-Butanediol is classified into THF, PBT, GBL, PU, and others. Currently, THF is widely used in various applications such as solvents, PTMEG, and others. Among these, THF finds its major application in the manufacturing of PTMEG, which is the feedstock for various fibers, including Spandex. Thus, the significant growth related to the textile industry across the globe is generating the market for BDO.
Asia Pacific, by region, is expected to be the largest segment for 1,4-Butanediol market
Asia Pacific is expected to lead the BDO market during the forecast period by value. This demand can be attributed to the increasing production capacities with rising demand from automotive industry. Particularly, the emerging economies such as China, Malaysia, Thailand, and India, have made Asia Pacific a huge market for BDO. Moreover, China is one of the largest markets for BDO across the globe and is expected to contribute a major portion to the overall regional demand for 1,4-Butanediol during the forecast period.
Share Your Requirements & Get Customized Reports at https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=685
Some of the leading players in this market include BASF SE (Germany), DCC (Taiwan), Sinopec Yizheng Chemical Fibre Co., Ltd. (China), Nan Ya Plastics Corporation (Taiwan), and Xinjiang Tianye (Group) Co., Ltd. (China), among others.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States