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The growth in end-user industries in emerging nations such as Taiwan, China, and India are driving the market for Butanediol.
NEW YORK CITY, NEW YORK, UNITED STATES, August 17, 2022 /EINPresswire.com/ -- The global Butanediol market is forecast to reach USD 21.93 Billion by 2030, according to a new report by Reports and Data. Butanediol is a chemical and is used to make the paint thinner, floor stripper, and other solvent products.
Butanediol is a raw material for polyurethane and polyester resins that show excellent characteristics. These products find several applications in everyday consumer products such as consumer durables such as electrical appliances and cars, clothing and shoe soles, industrial materials such as machine parts, as well as medical products. Butanediol is an important commercial chemical used to manufacture over 2.5 million tons of valuable polymers every year. Currently, the production of butanediol is entirely through petrochemistry.
Butanediol is illegal to sell for usage in medicine. It is also used as a substitute for other illegal substances such as gamma-butyrolactone (GBL) and gamma-hydroxybutyrate (GHB). Butanediol is used to stimulate muscle growth and growth hormone production; and for weight loss, bodybuilding, and insomnia.
The Asia Pacific dominated the market for Butanediol. The demand for the market is growing due to the high demand from electronics and consumer appliances industries. The region is witnessing numerous investments by automotive giants such as Hyundai Motors, BMW, and Honda. This is expected to drive the demand for the Butanediol market.
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Major companies BASF SE, Mitsubishi Chemical Corporation, Ashland Inc., SK Global Chemical Co. Ltd., Nan Ya Plastics Corporation, Mitsui & Co. Ltd., Genomatica Inc., Chemtura Corporation, Dairen Chemical Corporation, and Bioamber Inc.
Further key findings from the report suggest
Butanediol is also used as a plasticizer in cellulosic and polyesters as a carrier solvent in the printing ink, an adhesive (in leather, plastics, polyester laminates, and polyurethane footwear), a cleaning agent, in veterinary and agricultural chemicals and coatings. Butanediol is also applicable as a humectant in pharmaceuticals and as a solvent in cosmetic formulations. It is imported as a solid wax in 200L steel drums and also is formulated materials. Butanediol is converted to gamma-hydroxybutyrate (GHB) in the body. GHB slows down the brain function and can cause loss of consciousness, along with the dangerous slowing of breathing and other vital functions. It also stimulates growth hormone secretion. Poly Butylenes Terephthalate (PBT) is a synthetic thermoplastic polymer. Butanediol is the key raw material for the production of PBT. One of the major driving factors of the market is the rising demand for lightweight vehicles due to their high performance, competitive pricing, strength, style, reliability, and safety. Reppe process is a family of high-pressure, catalytic acetylene-reaction processes yielding (depending upon what the acetylene reacts with), butadiene, allyl alcohol, acrylonitrile, vinyl ethers and derivatives, acrylic acid esters, cyclooctatraene, and resins. The market in North America is expected to grow, owing to the high demand for the market product from the paints & coatings, cosmetic & personal care, and plastic industries. Moreover, stringent environmental regulations in the region are augmenting the demand for bio-based chemicals. This is likely to fuel demand for butanediol as it is an organic compound.
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Segments covered in the report:
Technology Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
Davy-McKee Process Butadiene Process Reppe Process Propylene Oxide Process
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
Poly Butylene Terephthalate (PBT) Tetrahydrofuran (THF) Polyurethane (PU) Gamma-Butyrolactone (GBL)
End-Use Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
Textile Automotive Electrical and Electronics Agricultural Chemicals
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Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
North America US. Canada Mexico Europe Germany UK France Italy Spain Sweden BENELUX Rest of Europe Asia Pacific China India Japan South Korea Rest of APAC Latin America Brazil Rest of LATAM Middle East & Africa Saudi Arabia UAE South Africa Israel Rest of Middle East & Africa
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