Market Size of 1,4 Butanediol Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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1,4 Butanediol Market Analysis
The 1,4 butanediol market is expected to register a CAGR of over 3 % during the forecast period.
Due to the disruption in the chemical goods supply chain during the pandemic, which raised the price of raw materials, the COVID-19 pandemic had a significant negative impact on the market. However, the market is projected to grow steadily, owing to increased activities of the textile industry in 2021.
- Over the short term, increasing demand for tetrahydrofuran (THF) for spandex fibers, and increasing demand for polybutylene terephthalate (PBT) from various industries are major factors driving the growth of the market studied.
- However, the shutdown of 1,4 butanediol plants throughout the years is a key factor anticipated to restrain the growth of the target industry over the forecast period.
- Nevertheless, the rising development of bio-based BDO, and reducing the carbon footprint of clothing are likely to create lucrative growth opportunities for the global market soon.
- The Asia-Pacific region is expected to dominate the market and witness the highest CAGR during the forecast period.
