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1,4-Butanediol Market worth $11.1 billion by 2029 - Exclusive Report by MarketsandMarkets™
Gamma Butyrolactone is expected to be the fastest-growing application segment within the 1,4-butanediol market due to several factors. This is attributed to increasing demand for GBL as a solvent and chemical intermediate across industries like pharmaceuticals, electronics, and plastics. Moreover, the growth in end-use sectors such as pharmaceuticals and electronics, particularly notable in regions like Japan , further propels the demand for gamma-butyrolactone. The favourable regulatory environment and rising adoption of gamma-butyrolactone (GBL) in pharmaceuticals and agrochemicals also contribute to its projected growth. Additionally, technological advancements enabling more efficient and cost-effective GBL production from 1,4-butanediol are expected to fuel its market expansion.
Bio-based 1,4-butanediol is expected to be the fastest-growing type segment within the 1,4-butanediol market by value due to several factors. Firstly, increasing environmental concerns and regulations are driving the demand for sustainable alternatives to traditional petroleum-based chemicals. Bio-based 1,4-butanediol, derived from renewable feedstocks such as biomass and agricultural waste, aligns with these sustainability goals, making it increasingly attractive to industries seeking eco-friendly solutions. Additionally, advancements in biotechnology and fermentation processes have enhanced the efficiency and scalability of bio-based 1,4-butanediol production, reducing costs and improving accessibility. Moreover, growing consumer awareness and preference for environmentally friendly products further stimulate the adoption of bio-based 1,4 butanediol in various applications, including polymers, plastics, and pharmaceuticals.
Asia Pacific is the largest consumer of 1,4-butanediol, in terms of value. Write in summarised way "The Asia-Pacific region is the largest market for 1,4-butanediol due to several key factors. Firstly, the region's dominance in the 1,4-butanediol market is attributed to its high growth potential and increasing demand for various applications like tetrahydrofuran (THF), polyurethane (PU), and other derivatives. The market in Asia-Pacific is influenced by factors such as industrial growth, technological advancements, and a significant presence of key players like BASF SE, DCC, and others. These elements collectively contribute to the region's leading position in the 1,4-butanediol market, making it the largest market share holder in 2023.
Some of the leading players in 1,4-butanediol market are DCC ( Taiwan ), BASF-SE ( Germany ), Xinjiang Tianye Group Co., Ltd. ( China ), Mitsubishi Chemical Group Corporation ( Japan ) and Nan Ya Plastics Corporation ( Taiwan ) among others.
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