Butanediol Market Analysis is Expected to Grow at a CAGR of 6.50% by 2030 | ChemAnalyst

NEW YORK - Nov. 15, 2021 - PRLog -- According to ChemAnalyst report, "Butanediol Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030". Butanediol market witnessed a demand of around 3.08 million tons globally in 2020 and is anticipated to grow at a significant rate with a healthy CAGR of 6.5% until 2030 owing to its surging demand to produce Tetrahydrofuran and other derivatives.

Butanediol (BDO or 1.4 Butanediol) is a straight-chain glycol with hydroxyl groups on both ends. It is a colorless, thick, and water-soluble organic chemical that acts as a precursor to numerous derivatives such as esters, carbamates, polyesters, and urethanes. In industries, Butanediol is produced by various methods such as reppe method, Maleic Anhydride method, Butadiene-Acetic Acid method, Propylene oxide method, etc. The reppe process is the most used method across the industries for the production of Butanediol in which a reaction between Formaldehyde and Acetylene is followed by hydrogenation to produce BDO. Apart from these, a newly emerged and ecofriendly "Bio-Route technology" is growing rapidly for the production of BDO, in which plant-based feedstocks (sugar & succinic acid) are utilized instead of petroleum-based feedstocks. Due to the rising environment-related concerns to reduce the carbon footprint, the majority of the global manufacturers are now investing in the production of environment-friendly goods that is likely to boost the market for Biobased Butanediol in the upcoming years.

Butanediol is primarily used as a preliminary material for the production of polyurethane resins and several industrial chemicals like Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), Polybutylene Adipate Terephthalate (PBAT), Polyurethanes (PU), Polyvinyl Pyrrolidone (PVP), Gamma Butyrolactone (GBL), and Others. Tetrahydrofuran (THF) is employed as a versatile solvent in various industries such as pharmaceuticals, to make spandex fibers, urethane elastomers, PVC, etc. and is the largest consumer of BDO globally and is expected to swell up the demand for BDO in the forecast period.

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Major players for Butanediol globally are BASF SE, Dairen Chemical Corporation, LyondellBasell Chemicals, Exxon Mobil Corporation, Shanxi Sanwei Group, International Specialty Products, Invista, Mitsubishi Chemical Corporation and SABIC, among others