PUBLISHER: Grand View Research | PRODUCT CODE: 1147499
PUBLISHER: Grand View Research | PRODUCT CODE: 1147499
The global 1, 4 butanediol market is expected to reach USD 14.66 billion by 2030, registering a CAGR of 8.1% during the forecast period, as per the new report by Grand View Research, Inc. The growth is attributable to its increasing consumption in the production of fibers, plastics, and solvents. The product is also being increasingly used for medicinal formulations, because of which several legislative actions and regulations regarding its safe usage have been initiated.
1, 4 butanediol (BDO) is widely utilized in numerous applications such as chemical & adhesives manufacturing, fiber & particle composites, plastic processing, and pharmaceuticals owing to its inherent advantageous characteristics such as hydrophobicity, chemical resistance, and excellent durability.
1, 4 butanediol produced by the reppe process, which is particularly popular in China, accounts for more than 40.0% of the global capacity of chemical manufacturing. Major industry participants including Ashland, BASF, and DuPont are utilizing this technology to produce 1, 4 butanediol and its other derivatives. In this process, acetylene is reacted with formaldehyde to form butanediol (BYD), which undergoes high-pressure hydrogenation.
The spread of the COVID-19 virus has disrupted economies around the world and has severely affected the supply chain across the chemical industry. The supply chain disruption of 1, 4 butanediol had an adverse effect on its production and consumption patterns, globally. This has resulted in a decline in market growth during the pandemic.