According to a new report, published by KBV research, The Global 1,4-Butanediol Market size is expected to reach $12.7 billion by 2031, rising at a market growth of 7.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 2,999.4 Kilo Tonnes experiencing a growth of 25.7% (2020-2023).
The Synthetic segment is registering a CAGR of 7.2 % during the forecast period. Synthetic 1,4-butanediol remains dominant due to established production processes and cost efficiencies. Technological advancements in synthetic production methods have enhanced yield and reduced production costs, making synthetic BDO competitive even against bio-based variants.
The Reppe Process segment led the Global 1,4-Butanediol Market by Technology in 2023; thereby, achieving a market value of $5.4 billion by 2031. This prominence can be attributed to the Reppe process's efficiency and cost-effectiveness in producing high-purity BDO, making it the preferred method for large-scale industrial applications.
The Tetrahydrofuran segment is growing at a CAGR of 6.9 % during the forecast period. Tetrahydrofuran (THF) is widely used as an industrial solvent in manufacturing various chemicals and pharmaceuticals. Its application in producing adhesives and coatings and as a solvent in Grignard reactions and polymerization processes underscores its importance.
Full Report: https://www.kbvresearch.com/1-4-butanediol-market/
The Asia Pacific region dominated the Global 1,4-Butanediol Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $6.1 billion by 2031. The North America region is anticipated to grow at a CAGR of 7.3% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 7.8% during (2024 - 2031).
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Technology
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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