1,4-Butanediol (BDO) Market is projected to report a CAGR of 7.1% between 2016 and 2030
The Global 1, 4-Butanediol (BDO) Market size is estimated to
be USD 8.33 billion in 2019 and is predicted to reach USD 17.71 billion by 2030
with a CAGR of 7.1% from 2020-2030. 1, 4-Butanediol (BDO) is a colourless thick
liquid, which is one amongst the four stable isomers of butanediol. The
commercial production of this solvent is accomplished by the synthesis of
acetylene that reacts with two equivalent parts of formaldehyde to form 1,
4-butynediol; which is further hydrogenated to produce 1, 4-butanediol, as a
product.
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Biologically, BDO is produced by the biosynthesis process
that proceeds via 4-hydroxybutyrate, using a genetically modified organism;
however chemically or on an industrial scale, this compound is produced by
Reppe Process, Davy process, and via other technical processes. BDO's
commercial end users account to automotive, leather, pharmaceutical, and other
industries. However, in May 1999, US FDA declared this component as the Class I
Health Hazard, thereby restricting its application in edible products.
Market Dynamics and Trends
1, 4-Butanediol (BDO) market is majorly driven by the
increasing demand for Tetrahydrofuran (THF) and Polybutylene Terephthalate
(PBT) at the end-user industries. In addition, the factors like the innovation
of sustainable technologies and bio-based feedstock coupled with the growing
demand of BDO from that developing countries like India, China, and Taiwan are
also responsible in fuelling the growth of the 1, 4-Butanediol (BDO) market.
However, the fluctuating cost of raw materials and expenses manufacturing
procedure is responsible for restricting the demand and growth of BDO in the
market.
Additionally, the growing awareness regarding the benefits
and processing of BDO and its derivatives are further responsible for the
expectation of this industry. Factors like, depletion of non-renewable
resources like natural gas and crude oil coupled with other environmental issues
are also propelling the need for the utilization of bio-based or the production
of renewable resources. This has further resulted in driving the growth of
bio-based BDO production and its consumption. Impulsive market condition serves
to be the major growth challenge for 1, 4-Butanediol (BDO) market.
Market Segmentations and Scope of the Study:
The global 1, 4-Butanediol (BDO) market share is analyzed on
the basis of application, and geography. On the basis of application the 1,
4-Butanediol (BDO) market is segmented into Tetrahydrofuran (THF), Polybutylene
Terephthalate (PBT), Gamma-Butyrolactone (GBL), Polyurethanes (PU) and others.
Whereas the geographical segmentation covers North America, Europe, Asia
Pacific, Latin America and the Middle East and Africa.
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Competitive Landscape:
Comprehensive competitive analysis and profiles of major
market players such as Ashland Inc., BASF SE, BioAmber Inc., Dairen Chemical
Corporation, Genomatica, Inc., Invista, LyondellBasell Industries N.V.,
Mitsubishi Chemical Corporation, Myriant Corporation, Saudi International
Petrochemical Company, The Dow Chemical Company and Toray Industries Inc.
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