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Global 1,4-Butanediol Market worth $11.0 billion by 2027

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MarketsandMarkets™
Global 1,4-Butanediol Market worth $11.0 billion by 2027

The global 1,4-Butanediol market is projected to grow from USD 7.3 billion in 2022 to USD 11.0 billion by 2027, at a CAGR of 8.5% during the forecast period. The BDO market is witnessing growth due to increased focus on electric vehicles, and others in the automotive industry. This is driving the market for 1,4-Butanediol.  


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Based on type, the 1,4-Butanediol market is segmented into synthetic, and bio based. Synthetic segment is expected to account for largest share in 2022, in terms of value, owing to its increased utilization in applications such as textiles, solvents, electricals & electronics, and consumer appliances. On the other hand, bio-based segment is expected to be the fastest growing segment in 2022. The growth can be attributed to higher demand for the bio based 1,4-Butanediol in the application of vehicles from the automotive industry.

Based on application, the 1,4-Butanediol market is segmented into THF, PBT, GBL, PU and others. THF segment is expected to account for the largest share in 2022, in terms of value. The growth is driven by the increasing usage of tetrahydrofuran (THF) in the production of polytetramethylene Ether glycols (PTMEG). Later, it is processed into spandex, which is widely being used in the athletic and sportswear. Additionally, the growing awareness of health, fitness, and sports is expected to drive the market for 1,4-Butanediol.

Based on region, the 1,4-Butanediol market is segmented into Asia Pacific, Europe, North America, and Rest of World. Asia Pacific is expected to be the largest market for 1,4-Butanediol, in terms of value and volume, in 2022. The strengthening demand for 1,4-Butanediol from its end-use industries, such as automotive, and textile industries is propelling the market expansion in the region. 


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