According to a report,"1,4 Butanediol (BDO) Market Analysis By Application (Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), Gamma-Butyrolactone (GBL), Polyurethane (PU)), By Region (North America, Europe, Asia Pacific, CSA, MEA), And Segment Forecasts, 2018 - 2025", published by Grand View Research, Inc., The global 1,4 butanediol (BDO) market is projected to reach USD 12.6 billion by 2025, Pioneers of bio-based technologies such as Geomatica and BioAmber have paved the path for sustainable BDO production from renewable feedstock, which has influenced consumption patterns in recent years.Companies are increasingly adopting good manufacturing practices and integrating advanced production technologies to comply with transitioning regulatory framework and consumer specifications. Producers have shifted their focus towards sustainable production and boosted the reliance on natural & renewable resources to eliminate wastage & pollution.
Key Takeaways from the report:
-
Polyurethanes are expected to grow at a high CAGR of 8.4% in terms of revenue from 2016 to 2025. Increasing consumption of PU in foams, adhesives, and coatings to be a vital factor
-
PBT also emerged as an important application owing to the substitution of conventional metals in automotive & electronics sectors, and the introduction of new generation PBT grades
-
Development of bio-based feedstock has influenced the production of derivatives such as PBT, with a shift towards sustainable plastics formation to meet regulatory criteria
-
Gamma-butyrolactone (GBL) expected to account for 14% of the overall revenue by 2025, growing at 6.4% CAGR over the forecast period. High demand for manufacturing pyrrolidones from GBL, which are further utilized as industrial chemicals in several applications
-
Asia Pacific emerged as the dominant segment with over 63% volume share in 2015. Rising consumer disposable income, expanding end-use industries and growing awareness regarding sustainable resources expected to foster industry growth
-
Manufacturers in developed countries across North America & Europe are shifting production bases to emerging economies to tap lucrative opportunities and cater to the domestic demand
-
Influential companies in the industry include The Dow Chemical Company, BASF SE, Invista, LyondellBasell Industries, Mitsubishi Chemical Corporation, ExxonMobil Chemicals, International Specialty Products, and BioAmber Inc.
-
In February 2016, Mitsui invested approximately USD 25 million in BioAmber for the production of bio-succinic acid and BDO at 35,000 and 23,000 tons respectively
U.S. BDO revenue by application, 2014-2025 (USD Million)
Browse More Reports in Renewable Chemicals Industry:
- Palm Oil Market: The global palm oil market size was estimated at USD 57.56 billion in 2014. Several government initiatives concerning blending of conventional fuel with that of bio-based, as well as rapidly growing usage of products as bio-based diesel have been gaining global acceptance over recent years.
- Bio-based Polypropylene (PP) Market: Increase in demand for lightweight automotive materials, particularly polymers, is expected to boost Bio-based Polypropylene (PP) Market growth over the coming years. With automobile manufacturers preferring eco-friendly polymers of late, the market is anticipated to receive a significant boost.
China BDO market volume share, by application, 2015
Tetrahydrofuran (THF) was the dominant application in 2015, occupying over 48% of the revenue share. THF is mostly utilized to derive PTMEG, which is then further processed into spandex fibers for sportswear, medical & automotive interiors. Transitioning consumer lifestyles are encouraging the foray of spandex producers into new markets, thereby leading to higher BDO consumption.
Grand View Research has segmented the 1,4 Butanediol (BDO) market on the basis of application & region:
1,4 Butanediol (BDO) Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
-
Tetrahydrofuran (THF)
-
Polybutylene Terephthalate (PBT)
-
Gamma-Butyrolactone (GBL)
-
Polyurethanes (PU)
-
Others
1,4 Butanediol (BDO) 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
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist - U.S.A.
Email:Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: Switzerland
Website: www.grandviewresearch.com/industry-analysis/1-4-butanediol-market
