PUBLISHER: Orion Market Research | PRODUCT CODE: 1078132
PUBLISHER: Orion Market Research | PRODUCT CODE: 1078132
Global 1,4 Butanediol (BDO) Market Size, Share & Trends Analysis Report, by Technology (Butadiene Process, Davy Process, Propylene Oxide Process, and Reppe Process), by Application (Gamma-Butyrolactone, Poly Butylenes Terephthalate (PBT), Polyurethane, and Tetrahydrofuran), and by End-Users (Automotive Industry, Electrical, And Electronics, Chemical Industry, Footwear Industry, and Sports Industry) Forecast Period (2022-2028)
The global 1,4 Butanediol (BDO) market is anticipated to grow at a substantial CAGR of 3.9% during the forecast period. The market is expected to show significant growth due to a global increase in the consumption of tetrahydrofuran which is a cyclic ether used in various industries for varied purposes such as printing inks for plastics. Growing demand for polybutylene terephthalate and increasing use of BDO in end-user industries are also boosting the growth of the BDO market. However, certain factors such as high manufacturing costs and regulatory issues may affect the growth of the market.
The global 1,4 Butanediol (BDO) market is segmented based on the technology, application, and end-users. Based on the technology, the market is segmented into the butadiene process, davy process, propylene oxide process, and Reppe process. Based on the application, the market is segmented into Gamma-Butyrolactone, Poly Butylenes Terephthalate (PBT), Polyurethane, and Tetrahydrofuran. Based on the end-users, the market is sub-segmented into the automotive industry, electrical, and electronics, chemical industry, footwear industry, and sports industry. The above-mentioned segments can be customized as per the requirements. Based on end-users, the automotive industry segment is projected to grow considerably while electronics and electrical is projected to grow noticeably owing to the increasing demand for electric products and electric vehicles.
Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe is anticipating registering a significant growth during the forecast period owing to the second-largest automotive market across the globe after the Asia Pacific as per the data of OICA.
The major companies serving the global 1,4 Butanediol (BDO) market include Basf S.E., Dairen Chemicals Corp., Nan Ya Plastic Corp., Sinopec Yizheng Chemical Fibre Limited Liability Co., Xinjiang Tianye (Group) Co., Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In April 2021, Xinjiang Guotai Xinhua Chemical Co,ltd company began the Coal-based Fine Chemicals Circular Economy Industrial Park Phase II project to manufactureformaldehyde and acetylene through a formaldehyde plant and a dry acetylene plant and manufacture hydrogen through the methanol cracking method and further produces BDO through the acetylene aldehyde method. Completing this project will help produce 100,000 tons of BDO and 1,200 tons of butanol as a by-product.
Research Methodology
The market study of the global 1,4 butanediol (BDO) market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include
The report provides an in-depth analysis of the market size and the intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers
Category- Organic Chemicals