#14-Butanediol

[marketsndata]

1,4 Butanediol Market Size, Share and Growth Report, 2031

Global 1,4 butanediol market size was valued at USD 8.1 billion in 2023, which is expected to grow to USD 16.15 billion in 2031 with a CAGR of 9% during the forecast period between 2024 and 2031. The paints and coatings segment held a prominent share in the global 1,4 butanediol market in 2022. For instance, according to the recent statistics published by the World Paint & Coatings Industry Association (WPCIA), in 2022, the global paints and coatings industry was valued at USD 179.7 billion, representing a year-on-year growth rate of 3.1%.

Asia-Pacific held the dominant market position in the global 1,4 butanediol industry in 2022. According to Akzo Nobel India, a leading paints and coatings market in India, the paints and coatings market in India will reach USD 12.1 billion by 2027.

The benefits of 1,4 butanediol (BDO) in tetrahydrofuran (THF) production include its role as a key intermediate in the synthesis of various high-value polymers and fibers, as well as its use as a universal solvent and raw material for organic synthesis. Therefore, due to the various benefits offered by 1,4 butanediol, its adoption is increasing in THF production, which is a prime aspect augmenting the growth of the market. Additionally, the growth of the paints and coatings industry is accredited to factors such as an increase in the renovation rate, the recent expansion of paints and coatings manufacturing facilities, and a rise in residential construction activities. As a result, the advancing paints and coatings sector is boosting the demand for 1,4 butanediol (BDO) as it is a key ingredient in the paints and coatings product manufacturing. Henceforth, the surge in the demand for 1,4 butanediol (BDO) is supplementing the market growth.

The ongoing product development associated with bio-based 1,4 butanediol will create a favorable outlook for market growth in the long run. For instance, BASF SE has obtained long-term access to bio-based 1,4-butanediol (BDO) from Qore LLC, a joint venture of Cargill and HELM AG. Qore will produce the biobased BDO at Cargill’s biotechnology campus and corn refining operation in Iowa. This collaboration will allow BASF to expand its existing offer of BDO derivatives with bio-based variants, such as polytetramethylene ether glycol (polytetrahydrofuran, PolyTHF) and THF. The first commercial quantities will be available in Q1 2025. Nevertheless, health concerns associated with 1,4 butanediol are restraining the growth of the market.

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Rising Adoption of 1,4 Butanediol in THF is Accelerating the Market Growth

The production of THF from 1,4 butanediol offers a sustainable and environmentally friendly approach, particularly when bio-based methods are employed for the synthesis of 1,4 butanediol and THF. These bio-based processes contribute to the development of low-carbon and energy-efficient production methods, aligning with the principles of green chemistry. The rising adoption of 1,4 butanediol in the production of THF is attributed to the growing demand for THF in various applications such as the manufacturing of plastics, pharmaceuticals, and textiles. The increased use of THF in the above-mentioned industries has led to a higher demand for 1,4 butanediol as a key raw material for its production. This trend is expected to continue as these industries expand, driving the adoption of 1,4 butanediol for THF production.

For instance, according to the recent statistics published by Plastics Europe, a global association for plastics production, in 2021, the total global level of plastics production was 394 million tons, and in 2022, it was 400.3 million tons, an increase of 1.6%.     

Ongoing Development of New Lithium-ion Manufacturing Facilities Spurring the Market Growth

1,4 butanediol (BDO) is used in electrodes for lithium-ion battery manufacturing. The increasing adoption of electric vehicles and the development of new electronics manufacturing facilities will propel the deployment of lithium-ion batteries. As a result, lithium-ion battery manufacturers are leveraging their investments for the new manufacturing facility development, which will create a lucrative opportunity for market growth in the coming years as the demand for 1,4 butanediol (BDO) will increase in electrodes.

For instance, in January 2024, Arizona KOREPlex, a battery manufacturer in the United States, announced its plans to open a new lithium-ion battery manufacturing facility in Arizona, United States. In November 2023, Forge Nano, Inc., a prominent materials science company in the United States announced its plans to launch a new lithium-ion battery manufacturing facility in North Carolina, United States. The overall investment cost of the lithium-ion battery manufacturing facility is more than USD 165 million. In addition, in September 2023, Gotion High-tech Co Ltd announced the development of a USD 2 billion lithium-ion battery manufacturing facility in Illinois, the United States by 2024.

Booming Paints and Coatings Sector is Fostering the Market Growth

The key technical properties associated with 1,4 butanediol include a molar mass of 90.122 g·mol−1, density at 1.0171 g/cm3 (20 °C), melting point of 20.1 °C (68.2 °F; 293.2 K), boiling point at 235 °C (455 °F; 508 K), and miscible solubility in water. Thus, 1,4 butanediol (BDO) is an important component in the production of paints and coatings. The 1,4 butanediol is ideal for paints and coatings products such as industrial, surface, and special purpose paints and coatings. The increasing demand for architectural paints and coatings, rising construction activities, and the surging spending power of people are the key determinants spurring the paints and coatings market growth.

For instance, according to the recent statistics published by the World Paint & Coatings Industry Association (WPCIA), the Asia-Pacific paints and coatings market was the leading region, valued at USD 63 billion in 2022. China dominated the Asia-Pacific regional market, which grew at a CAGR of 5.8%. The European region was the second largest market for the paints and coatings industry, valued at USD 42.37 billion in 2022. In addition, the North American paints and coatings sector was the third largest market in the global ranking, valued at USD 33.92 billion in 2022. Hence, the booming paints and coatings industry is driving the demand for 1,4 butanediol worldwide as a cross-linking agent, thereby accelerating the market growth. 

The Dominance of the Asia-Pacific Region in the Overall Market

Asia-Pacific is experiencing rapid growth in various industries, such as textiles, electronics, and automotive, which are major consumers of 1,4 butanediol, thereby driving the revenue growth of the market. Also, the Asia-Pacific region offers low-cost labor and resources, making it an attractive destination for 1,4 butanediol. Therefore, Asia-Pacific countries, such as India, China, and Japan, are the major hubs for manufacturing 1,4 butanediol.

Factors, such as the development of new manufacturing facilities for the production of lithium-ion batteries, increasing production of plastics, and surging output for adhesives and sealants, among others, are mainly accelerating the growth of the 1,4 butanediol market across the Asia-Pacific region. For instance, according to the recent 2023 data published by Plastics Europe, the global production of plastics in 2022 was 400.3 million tons and the Asia-Pacific region was the dominant market, holding a share of 54% of the global plastics production. Furthermore, China held about 33% share in the global plastics production. Therefore, the booming end-use industries in the Asia-Pacific region are amplifying the growth of the 1,4 butanediol market.

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Future Market Scenario (2024 – 2031F)

·         EVs are expected to experience a rise in their adoption in upcoming years. Due to this, the demand for lithium-ion batteries will also grow, in turn, influencing the market of 1,4 butanediol.

·         As environmental concerns push for more sustainable technological solutions, green building initiatives will take place and further accelerate the market.

·         Pharmaceutical industry growth will scatter the market demand for innovative and more use cases for 1,4 butanediol.

·         Due to research and innovation in industrial grids, there will be more use cases of 1,4 butanediol in factories.

Report Scope

“1,4 Butanediol Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the global 1,4 butanediol market, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, opportunities and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Click here for full report- https://www.marketsandata.com/industry-reports/1-4-butanediol-market

Contact

Mr. Vivek Gupta 5741 Cleveland street, Suite 120, VA beach, VA, USA 23462 Tel: +1 (757) 343–3258 Email: info@marketsandata.com Website: https://www.marketsandata.com

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Name: 1,4-Butanediol CAS No.: 110-63-4 Property: Colorless viscous liquid Molecular Formula: C4H10O2 C6H14O6S2 (dimethylsulfonate) C10H18O4 (diglycidyl ether) Molecular Weight: 90.12 g/mol 246.3 g/mol (dimethylsulfonate) 202.25 g/mol (diglycidyl ether)

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123-75-1

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16940-66-2

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593-51-1

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62-44-2

N-(tert-Butoxycarbonyl)-4-piperidone

79099-07-3

1-(Benzyloxycarbonyl)-4-piperidinone

19099-93-5

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Name: 1,4-Butanediol CAS No.: 110-63-4 Property: Colorless viscous liquid Molecular Formula: C4H10O2 C6H14O6S2 (dimethylsulfonate) C10H18O4 (diglycidyl ether) Molecular Weight: 90.12 g/mol 246.3 g/mol (dimethylsulfonate) 202.25 g/mol (diglycidyl ether)

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