Bio-based 1,4-Butanediol Market Reflect Impressive Growth Rate at CAGR of 5.4% to During 2023 – 2029

Bio-based 1,4-butanediol Market Summary

Bio-BDO is a chemical used as solvent and building block in (bio)plastics, elastic fibres and polyurethanes. Bio-BDO is 100% bio-based and biodegradable. 1,4-Butanediol (BDO) is an important compound that is used as a starting material for the production of important polymers such as polyesters, polyurethanes, and polyethers. The major uses are in the production of tetrahydrofuran (THF) (an intermediate for spandex and other performance polymers) and polybutylene terephthalate (PBT) resins for engineering plastics.

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Based on or includes research from QYResearch: Global Bio-based 1,4-butanediol Market Report 2023-2029.

The global Bio-based 1,4-Butanediol market size is expected to reach US$ 11860 million by 2029, growing at a CAGR of 5.4% from 2023 to 2029. The market is mainly driven by the significant applications of Bio-based 1,4-Butanediol in various end use industries. The expanding demands from the Athletic Apparel, Running Shoes, Electronics and Automotive, are propelling Bio-based 1,4-Butanediol market. Direct Fermentation, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Biosuccinic acid segment is estimated at % CAGR for the next seven-year period. Asia Pacific shows high growth potential for Bio-based 1,4-Butanediol market, driven by demand from China, the second largest economy with some signs of stabilising, the Bio-based 1,4-Butanediol market in China is forecast to reach US$ million by 2029, trailing a CAGR of % over the 2023-2029 period, while the U.S. market will reach US$ million by 2029, exhibiting a CAGR of % during the same period.

Market Drivers:

According to surveys, the total global BDO market in 2022 will be 4.1 million tons, and China alone has planned and under-construction production capacity of more than 19 million tons. Bio-based BDO can replace petroleum-based BDO in terms of performance. Although the cost is higher than petroleum-based BDO, the current oil price is high, and the technical competitiveness of bio-based BDO has emerged. With the improvement of later production processes and the increase in production capacity, the cost of bio-BDO will also decrease. In the short term, bio-based 1,4-butanediol cannot replace petroleum-based 1,4-butanediol and will occupy a smaller share of the market in the future, but the potential is huge.

Restraint:

The current price of bio-based 1,4-butanediol is still several times that of petroleum-based 1,4-butanediol. The biggest problem with bio-based BDO is its price. The production cost of bio-based BDO is higher than that of fossil-source BDO. High, and the lower the oil price, the less competitive it is. However, bio-based materials are still an emerging field. Most bio-based products are more expensive than the same products derived from fossil resources. As the production process improves and production capacity increases, the cost will slowly decrease. The main difficulty in bio-based BDO lies in technological breakthroughs, which include very complex strain screening, technical route verification, etc.

Opportunity:

At present, the negative impacts caused by white pollution have spread to all aspects of human socio-economics, ecology, and health, and the development process of circular bio-economy is facing severe challenges. Biodegradable plastics are widely used in packaging, catering, medical, injection molding, fiber, agriculture and other fields. In recent years, developed countries and regions such as Europe, the United States, and Japan have successively formulated and promulgated relevant regulations to restrict the use of non-degradable plastics through local bans, restricted use, mandatory collection, and collection of pollution taxes, and vigorously developed new fully biodegradable materials. , to protect the environment and protect the soil. Against this background, the demand for biodegradable plastics has further increased globally. The main application of bio-based 1,4-butanediol is bioplastics. It is expected that with the commissioning of Qore's production capacity, global bio-based 1,4-butanediol will show a rapid development trend.

Company Profiles:

LCY Chemical Genomatica Global Bio-Chem Novamont SpA

Global Bio-based 1,4-Butanediol market, Segment by Type: Direct Fermentation Biosuccinic acid Global Bio-based 1,4-Butanediol market, by Application Athletic Apparel Running Shoes Electronics Automotive PBT TPU Others

Global Bio-based 1,4-Butanediol market, by region:

North America (U.S., Canada, Mexico) Europe (Germany, France, UK, Italy, etc.) Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.) South America (Brazil, etc.) Middle East and Africa (Turkey, GCC Countries, Africa, etc.)

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FAQ’s:

1.What is the Bio-based 1,4-butanediol market size at the regional and country-level

2.What are the key drivers, restraints, opportunities, and challenges of the Bio-based 1,4-butanediol market, and how they are expected to impact the market

3.What is the global (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) sales value, production value, consumption value, import and export of Bio-based 1,4-butanediol)

4.Who are the global key manufacturers of the Bio-based 1,4-butanediol Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)

5.What are the Bio-based 1,4-butanediol market opportunities and threats faced by the vendors in the global Bio-based 1,4-butanediol Industry

6.Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application

7.What focused approach and constraints are holding the Bio-based 1,4-butanediol market

8.What are the different sales, marketing, and distribution channels in the global industry

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10.What are the key market trends impacting the growth of the Bio-based 1,4-butanediol market

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