According to ChemAnalyst report, â€œ1,4 Butanediol Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Market Analysis, 2015-2030â€, 1,4 butanediol market has shown tremendous growth in the past five years and is anticipated to achieve a CAGR of 7.55% during the forecast period. Increasing population and growing demand for various applications of 1,4 butanediol such as Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), Gamma-Butyrolactone (GBL), Polyurethane (PU), Other Derivatives would drive the demand for 1,4 butanediol in the forecast period. As 1,4 butanediol is a sedative, stringent government regulations regarding consumption of 1,4 butanediol are expected to hinder the demand for the forecast period.
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1,4 butanediol (BDO) is a colorless viscous liquid and is one of the four stable isomers of butanediol. It is used in the manufacturing of other organic chemicals such as tetrahydrofuran (THF) having application in spandex fibers and urethane elastomers, gamma-butyrolactone (GBL) having application in electronics, pharmaceuticals, agrochemicals, and high-performance polymers, polybutylene terephthalate (PBT) having application as engineering plastic, polyurethane (PU) and other derivatives. It is used as a solvent in organic synthesis, therefore has application in various end use industries such as automotive, pharmaceutical, electrical and electronics, artificial leather, and agriculture chemicals. Upcoming bio-based 1,4 butanediol is expected to push the demand further during the forecast period.
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1,4 butanediol can be used as a sedative and has psychotropic properties. This has led governments worldwide to put stringent regulations over consumption of 1,4 butanediol. This is expected to hider the demand during the forecast period. Tetrahydrofuran (THF) which is a major component of spandex fibers which are also driving the demand of 1,4 butanediol. Other applications include gamma-butyrolactone (GBL) which is increasing in demand due to application in various industries including electronics, pharmaceuticals, agrochemicals and, high performance polymers thus increasing the demand for 1,4 butanediol. As 1,4 butanediol is a protic organic solvent it has application in the synthesis of various plastics including polybutylene terephthalate (PBT) which has several applications as an engineering plastic.
1,4 butanediol is manufactured by the reaction of acetylene and formaldehyde through the reppe process hence its price is directly linked to the fluctuations in the prices of acetylene and formaldehyde both having petrochemical origin. Over the past few years, 1,4 butanediol prices have become highly susceptible to the cost of acetylene and formaldehyde and competing protic solvents gaining ground in its markets. In the first half of FY20 sudden outbreak of novel coronavirus followed by fall in in the demand of automotive, electronics, and textiles rendered a slight downfall in the 1,4 butanediol prices.
Regionally, Asia Pacific dominates the 1,4 butanediol market and holds the largest market share in FY19. Asiaâ€™s 1,4 butanediol market is anticipated to grow in the economies like India, China, and Japan due to continuously rising population and high demand for automotive, textile, electronics, agrochemical sectors. South Asia, particularly China, seems to be the key market for 1,4 butanediol as the country is seen as a generally under-supplied market. Moreover, increasing regulations of the Indian government towards limiting the consumption of 1,4 butanediol because of its psychotropic properties is seen as a barrier to demand growth for the forecast period.
Mitsubishi Chemical Corporation
Shanxi Sanwei Group (China)
Dairen Chemical Corporation
Nan Ya Plastics Corporation
â€œBeing linked to the polymeric materials industry, the 1,4 butanediol industry has shown a robust growth alongside growing population and changing consumer preference. China serves as the key growth region with sufficiently installed capacities. India also shows an optimistic trend in demand rise during the forecast period as the government is supporting domestic production various polymers in its make in India campaign. 1,4 butanediol pricing curve shows strong movement in line with the petroleum as the raw materials are petrochemicals. With new competitors emerging across the Asian 1,4 butanediol market, players anticipate that supply will soon outpace demand in the near future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years.â€ said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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