The global Butanediol market is forecast to reach USD 17.13 Billion by 2027, according to a new report by Reports and Data. Butanediol is a chemical and is used to make the paint thinner, floor stripper, and other solvent products.
Butanediol is a raw material for polyurethane and polyester resins that show excellent characteristics. These products find several applications in everyday consumer products such as consumer durables such as electrical appliances and cars, clothing and shoe soles, industrial materials such as machine parts, as well as medical products. Butanediol is an important commercial chemical used to manufacture over 2.5 million tons of valuable polymers every year. Currently, the production of butanediol is entirely through petrochemistry.
Butanediol is illegal to sell for usage in medicine. It is also used as a substitute for other illegal substances such as gamma-butyrolactone (GBL) and gamma-hydroxybutyrate (GHB). Butanediol is used to stimulate muscle growth and growth hormone production; and for weight loss, bodybuilding, and insomnia.
The Asia Pacific dominated the market for Butanediol. The demand for the market is growing due to the high demand from electronics and consumer appliances industries. The region is witnessing numerous investments by automotive giants such as Hyundai Motors, BMW, and Honda. This is expected to drive the demand for the Butanediol market.
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Market Overview:
The rise in materials and chemicals companies’ deployment of digital technologies to enhance efficiency gains and increase reliability are the key factors stimulating materials and chemicals industry trends. The industry players are allocating huge budgets for advanced sensing and automation machines to enhanced optimization of operations.
Materials and chemicals are used across various end-use industries such as manufacturing, medical & pharmaceutical, automotive, food tech, among others. New product launches, technological advancements, growing consumer demand variety in daily use items, and increasing automation in the industry will accrue to major revenue gains in the coming years. Also, increasing consumer awareness regarding energy-efficiency and associated demand for sustainable products will boost market growth during the forecast period.
Top Companies Profiled in the Report: BASF SE, Mitsubishi Chemical Corporation, Ashland Inc., SK Global Chemical Co. Ltd., Nan Ya Plastics Corporation, Mitsui & Co. Ltd., Genomatica Inc., Chemtura Corporation, Dairen Chemical Corporation, and Bioamber Inc., among others.
Regional Outlook
Asia Pacific as expected to continue as one of the largest and fastest growing Butanediol market globally. The increasing manufacturing and export demand over the past decade has led several global leading companies to not only make huge investments in the region’s materials and chemical sector but also set up their own manufacturing base in the region to increase their presence in this emerging market.
Competitive Outlook:
This market report offer detailed view of import export scenario, recent developments, trade regulations, value chain optimization, production analysis, market share, analyses opportunities in terms of emerging revenue pockets, impact of domestic and localized market players, changes in market, trends, size, segment growth, application niches and dominance, product launches, product approvals, geographical expansions, technological innovations in the market.
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Global Butanediol Market Segmentation:
Technology Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- Davy Process
- Butadiene Process
- Reppe Process
- Propylene Oxide Process
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- Poly Butylenes Terephthalate (PBT)
- Tetrahydrofuran (THF)
- Polyurethane (PU)
- Gamma-Butyrolactone (GBL)
End-User Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
- Pharmaceutical
- Automotive
- Electrical and Electronics
- Leather
- Agricultural Chemicals
Regional Analysis covers:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Frequently asked questions addressed in the report:
- What is the projected growth rate of the global Butanediol market over the forecast period?
- What are the latest trending factors influencing market growth?
- What are the major factors driving the growth of the Global Butanediol Market?
- What are the risks and challenges existing in the industry?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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