1,4-Butanediol Market Hits USD 6,947.1 Million by 2020: Grand View Research, Inc

The global market for 1,4-butanediol (1,4-BDO) is expected to reach USD 6,947.1 million by 2020, according to a new study by Grand View Research, Inc. Growth of footwear industry, mainly in Asia Pacific, is expected to drive the market for 1,4-BDO over the forecast period. In addition, 1,4-BDO is used for manufacturing tetrahydrofuran (THF) which is further used for manufacturing spandex, a raw material for sports apparel. Growing number of global sporting events is expected to augment sport apparel demand, which is likely to reflect in 1,4-BDO market. However, volatile raw material prices coupled with stringent environment regulations, mainly in North America and Europe is expected to be a key challenge for market participants over the next six years. In order to overcome these challenges, the industry has shifted its focus towards developing bio-based 1,4-BDO which along with providing an eco friendly solution also provides cost competitiveness against its synthetic counterpart. Some major companies developing bio-based routes to 1,4-BDO include BASF, Purac, DSM, Mitsubishi Chemicals, Myriant and Genomatica. 

THF emerged as the leading application for 1,4-BDO and accounted for 29.9% of the total market volume in 2013. Polyurethane, on account of growing footwear demand mainly in China, India and Brazil is expected to be fastest growing application market for 1,4-BDO, at an estimated CAGR of 5.1% from 2014 to 2020. 1,4-BDO demand for PBT and GBL is expected to grow at a CAGR of 4.9% and 4.3% from 2014 to 2020, respectively. 

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