Market Trends of 1,4 Butanediol Industry
This section covers the major market trends shaping the 1,4 Butanediol Market according to our research experts:
Growing Demand in the Textile Industry
- 1,4 BDO is used as an adhesive in leather, plastics, polyester laminates, and polyurethane footwear. 1,4-Butanediol is an immediate chemical used in the production of Thermoplastic polyurethane (TPU) which is further used in the making of Synthetic leather sole material.
- Tetrahydrofuran (THF) is used for the production of spandex fiber which has captured the garment industry. Spandex is a lightweight, soft smooth synthetic fiber that has a unique elasticity. The material is used in making compression garments: motion capture suits, Surgical hoses, and Support hoses.
- This is also a useful fabric for hospitality and industrial organizations. Spandex fabrics are mostly used in garments where comfort and fit are required like hosiery, swimsuits, exercise wear, socks, undergarments, gloves, cycling shorts, specialized clothing like zentai suits, denim, and sports equipment, etc.
- The Industrievereinigung Chemiefaser estimates that the global production of textile fibers increased from 108,300 thousand metric tonnes in 2020 to 113,600 thousand metric tonnes in 2021.
- The global sports equipment market has been witnessing significant growth in the recent past. According to Statista Consumer Market Outlook, the global sports equipment market is projected to reach USD 126.54 billion in 2021 to USD 159.41 billion in 2026.
- For instance, the Government of Australia is planning to invest USD 230 million in sports and physical activity initiatives over the next five years. Such initiatives are expected to encourage more people to indulge in various outdoor sports, which, in turn, will increase the sales of spandex sportswear.
- Therefore, owing to the abovementioned factors, the demand for 1,4 BDO products in the textile industry is expected to positively impact the market studied during the forecast period.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominates the global 1,4 butanediol market. The regional demand for the market studied is driven by growing demand from various industries such as automotive, electronics, leather, and electronics.
- 1, 4 butanediol is widely used in the production of PBT, which is further used in the production of automotive. In the automotive sector, PBT allows for energy absorption, weight reduction, shock absorption for bumpers, restriction of explosion risk in fuel tanks, seat belts, airbags, door and seat assemblies, and various other applications.
- In China, the growing production of motor vehicles and the expanding pharmaceutical and electrical & electronics industry is expected to support the domestic demand for BDO and its derivatives, which is a positive factor for the market's growth in the future.
- However, in 2021, the production of vehicles in China reached 26,082,220 units, registering a growth rate of 3%, compared to 25,225,242 units in 2020. This is expected to boost the tho demand for 1,4 BDO from various applications in the automotive sector.
- Moreover, the growing population in India is creating the need for easy mobility of the people, which in turn is increasing the demand for automobiles in the region. According to OICA, in India, the total number of vehicles produced in 2021 was 4,399,112 and witnessed a growth rate of 30% compared to 2020.
- The Japanese electrical and electronics industry is one of the world's leading industries. The country is a world leader in producing video cameras, compact discs, computers, photocopiers, fax machines, cell phones, and various other key computer components.
- According to Japan Electronic and Information Technology Association (JEITA), the total number of imports of consumer electronics amounted to JPY 1,437,174 million (USD 10527.32 million )in September 2022.
- Hence, such favorable trends are expected to drive the demand for 1,4 butanediol during the forecast period.
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