The 1,4 Butanediol Derivatives Market is set for substantial growth, recording a valuation of $7,228.48 million in 2022 and an anticipated Compound Annual Growth Rate (CAGR) of 4.1% over the forecast period. This surge is attributed to the widespread utilization of 1,4 butanediol derivatives, such as polybutylene terephthalate (PBT) and thermoplastic polyurethanes (TPUs), across the plastics and polymer industry.
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Driving Forces
1,4 Butanediol derivatives play a pivotal role in manufacturing various products in the plastics and polymer industry, including automotive parts, electrical components, packaging materials, and more. The growth of industries reliant on these polymers, such as automotive and electronics, propels the demand for 1,4 butanediol derivatives. Additionally, these derivatives serve as solvents and chemical intermediates in various chemical processes, further contributing to their demand in the production of coatings, adhesives, sealants, and specialty chemicals.
End-User Industry Outlook
Segmented by end-user industry, the 1,4 Butanediol Derivatives Market comprises automotive, healthcare and pharmaceutical, textile, electronics, and others, with the automotive segment dominating the market share in 2022. The automotive industry relies heavily on 1,4 butanediol derivatives for the production of engineering plastics like PBT and PTMEG, used in various automotive components, including interior parts, under-the-hood components, and exterior trim. Moreover, TPUs derived from 1,4 butanediol offer exceptional mechanical properties, resilience, and flexibility, making them ideal for automotive applications such as gaskets, seals, hoses, and vibration-damping components.
Regional Insights
Asia-Pacific has emerged as the leading market for 1,4 Butanediol Derivatives in 2022, driven by rapid industrialization and economic growth in countries like China, India, Japan, and South Korea. The region’s status as a global manufacturing hub for industries like automotive, electronics and consumer goods fuels the demand for 1,4 butanediol derivatives for materials such as engineering plastics, TPUs, and specialty chemicals.
Key Companies Profiled: BASF SE, Dairen chemical corporation, LyondellBasell Industries, Mitsubishi Chemical Corporation, Ashland, Global Holdings Inc., KH Neochem Co., Ltd., Evonik Industries AG, and Sipchem Company
Global 1,4 Butanediol Derivatives Market, Report Segmentation
1,4 Butanediol Derivatives Market, By Derivatives
- Tetrahydrofuran (THF)
- Polybutylene Terephthalate (PBT)
- Gamma-Butyrolactone (GBL)
- Polyurethane (PU)
- Other Derivatives
1,4 Butanediol Derivatives Market, By End-User Industry
- Automotive
- Healthcare and Pharmaceutical
- Textile
- Electronics
- Others
1,4 Butanediol Derivatives Market, Regional Outlook
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- Spain
- Russia
- France
- Italy
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
CSA
- Brazil
- Argentina
MEA
- UAE
- Saudi Arabia
- South Africa
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