The global 1,4-Butanediol market is projected to grow from USD 7.3 billion in 2022 to USD 11.0 billion by 2027, at a CAGR of 8.5% during the forecast period. 1,4-Butanediol is primarily used in automotive, consumer appliances, electricals & electronics, textiles, solvents, and others.
BASF SE (Germany), DCC (Taiwan), Sinopec Yizheng Chemical Fibre Co., Ltd. (China), Nan Ya Plastics Corporation (Taiwan), and Xinjiang Tianye (Group) Co., Ltd. (China) are some of the key players operating in the 1,4-Butanediol market. These players have adopted strategies such as joint ventures, and expansions to enhance their business revenue and market share. Expansion of production units globally is the key strategy adopted by these players to cater to the increasing demand for 1,4-Butanediol.
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BASF SE is one of the major players in the global 1,4-Butanediol market. It is involved in the production and selling of 1,4-Butanediol. The company serves more than 90 countries across the Americas, Asia Pacific, and other regions of the world. It has about 390 domestic manufacturing facilities across Europe along with other overseas manufacturing facilities which allows the company to meet the consumer demand. The company has a considerable focus on its chemicals segment as it generates 17% of revenue for the company. This indicates a good platform for the growth of its 1,4-Butanediol business.
Another important player in the global 1,4-Butanediol market is Genomatica, Inc. In June 2021, Geno BDO biomanufacturing process technology, developed by Genomatica, has been licensed to Cargill. Cargill used it in its joint venture with Helm, Qore, to create renewable 1,4-butanediol. Genomaticas technology will enable a combined, global production capacity of over 100,000 tons per year of renewable BDO once this facility is finished in 2024. With this expansion, Genomatica, Inc. will be more capable of meeting the rising demand for 1,4-Butanediol in the North American market and ensure steady customer supply.
1,4-Butanediol Market by Type (Synthetic and Bio-based), Application (Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), Gamma Butyrolactone (GBL), Polyurethane (PU)), and Region (APAC, North America, Europe, RoW) - Global Forecast to 2027
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