市场调查报告书
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1458422
1,4丁二醇市场评估:依等级、製造流程、生产应用、应用和地区划分的机会和预测(2017-2031)1,4 Butanediol Market Assessment, By Grades, By Manufacturing Process, By Production Use, By Application, By Region, Opportunities, and Forecast, 2017-2031F |
全球1,4-丁二醇市场规模将从2023年的81亿美元成长到2031年的161.5亿美元,预计在2024-2031年期间将以9%的复合年增长率成长。
2022年全球1,4-丁二醇市场中,油漆和涂料产业占有显着占有率。根据World Paint & Coatings Industry Association (WPCIA)最新统计数据,2022年全球油漆涂料产业产值为1,797亿美元,年增3.1%。
2022年全球1,4-丁二醇产业中,亚太地区将占据压倒性地位。据印度油漆涂料市场领导者Akzo Nobel India称,预计到2027年,印度油漆涂料市场规模将增长至121亿美元。
THF 生产中越来越多地采用 1,4-丁二醇加速了市场成长:
从 1,4-丁二醇生产 THF 是一种可持续且环保的方法,特别是当采用生物基方法合成 1,4-丁二醇和 THF 时。这些生物基製程有助于开发符合绿色化学原理的低碳和节能生产方法。由于各种应用(包括塑胶、药品和纺织产品的生产)对 THF 的需求不断增长,THF 生产中越来越多地采用 1,4-丁二醇。上述产业中THF使用量的增加,增加了对其生产关键原料1,4丁二醇的需求。
蓬勃发展的油漆和涂料产业推动市场成长:
1,4-丁二醇的主要技术特性包括摩尔质量90.122g*mol-1,密度1.0171g/cm3 (20°C),熔点20.1°C (68.2°F; 293.2K),沸点235°C ( 455° F; 508K)、与水混溶等。这些特性使 1,4-丁二醇 (BDO) 成为油漆和涂料生产的重要成分。1,4 丁二醇是工业、表面和特殊油漆和涂料的理想选择。对建筑油漆和涂料的需求不断增加、建筑活动增加以及消费者信心的增强正在刺激油漆和涂料市场的成长。
亚太地区在整个市场的主导地位:
在亚太地区,纺织、电子、汽车等1,4-丁二醇的主要消费产业正在快速成长,正在推动市场的成长。该地区还拥有低成本的劳动力和资源,使其成为有吸引力的 1,4-丁二醇生产地。因此,印度、中国和日本等亚太国家已成为1,4-丁二醇生产的主要中心。
本报告调查了全球1,4-丁二醇市场,并提供市场定义和概述、市场规模趋势和预测、各个细分市场和地区的详细分析、行业结构以及影响市场成长的因素分析、案例研究、竞争格局、主要公司的简介等等。
Global 1,4 butanediol market size was valued at USD 8.1 billion in 2023, which is expected to grow to USD 16.15 billion in 2031 with a CAGR of 9% during the forecast period between 2024 and 2031. The paints and coatings segment held a prominent share in the global 1,4 butanediol market in 2022. For instance, according to the recent statistics published by the World Paint & Coatings Industry Association (WPCIA), in 2022, the global paints and coatings industry was valued at USD 179.7 billion, representing a year-on-year growth rate of 3.1%.
Asia-Pacific held the dominant market position in the global 1,4 butanediol industry in 2022. According to Akzo Nobel India, a leading paints and coatings market in India, the paints and coatings market in India will reach USD 12.1 billion by 2027.
The benefits of 1,4 butanediol (BDO) in tetrahydrofuran (THF) production include its role as a key intermediate in the synthesis of various high-value polymers and fibers, as well as its use as a universal solvent and raw material for organic synthesis. Therefore, due to the various benefits offered by 1,4 butanediol, its adoption is increasing in THF production, which is a prime aspect augmenting the growth of the market. Additionally, the growth of the paints and coatings industry is accredited to factors such as an increase in the renovation rate, the recent expansion of paints and coatings manufacturing facilities, and a rise in residential construction activities. As a result, the advancing paints and coatings sector is boosting the demand for 1,4 butanediol (BDO) as it is a key ingredient in the paints and coatings product manufacturing. Henceforth, the surge in the demand for 1,4 butanediol (BDO) is supplementing the market growth.
The ongoing product development associated with bio-based 1,4 butanediol will create a favorable outlook for market growth in the long run. For instance, BASF SE has obtained long-term access to bio-based 1,4-butanediol (BDO) from Qore LLC, a joint venture of Cargill and HELM AG. Qore will produce the biobased BDO at Cargill's biotechnology campus and corn refining operation in Iowa. This collaboration will allow BASF to expand its existing offer of BDO derivatives with bio-based variants, such as polytetramethylene ether glycol (polytetrahydrofuran, PolyTHF) and THF. The first commercial quantities will be available in Q1 2025. Nevertheless, health concerns associated with 1,4 butanediol are restraining the growth of the market.
Rising Adoption of 1,4 Butanediol in THF is Accelerating the Market Growth
The production of THF from 1,4 butanediol offers a sustainable and environmentally friendly approach, particularly when bio-based methods are employed for the synthesis of 1,4 butanediol and THF. These bio-based processes contribute to the development of low-carbon and energy-efficient production methods, aligning with the principles of green chemistry. The rising adoption of 1,4 butanediol in the production of THF is attributed to the growing demand for THF in various applications such as the manufacturing of plastics, pharmaceuticals, and textiles. The increased use of THF in the above-mentioned industries has led to a higher demand for 1,4 butanediol as a key raw material for its production. This trend is expected to continue as these industries expand, driving the adoption of 1,4 butanediol for THF production.
For instance, according to the recent statistics published by Plastics Europe, a global association for plastics production, in 2021, the total global level of plastics production was 394 million tons, and in 2022, it was 400.3 million tons, an increase of 1.6%.
Ongoing Development of New Lithium-ion Manufacturing Facilities Spurring the Market Growth
For instance, in January 2024, Arizona KOREPlex, a battery manufacturer in the United States, announced its plans to open a new lithium-ion battery manufacturing facility in Arizona, United States. In November 2023, Forge Nano, Inc., a prominent materials science company in the United States announced its plans to launch a new lithium-ion battery manufacturing facility in North Carolina, United States. The overall investment cost of the lithium-ion battery manufacturing facility is more than USD 165 million. In addition, in September 2023, Gotion High-tech Co Ltd announced the development of a USD 2 billion lithium-ion battery manufacturing facility in Illinois, the United States by 2024.
Booming Paints and Coatings Sector is Fostering the Market Growth
The key technical properties associated with 1,4 butanediol include a molar mass of 90.122 g*mol-1, density at 1.0171 g/cm3 (20 °C), melting point of 20.1 °C (68.2 °F; 293.2 K), boiling point at 235 °C (455 °F; 508 K), and miscible solubility in water. Thus, 1,4 butanediol (BDO) is an important component in the production of paints and coatings. The 1,4 butanediol is ideal for paints and coatings products such as industrial, surface, and special purpose paints and coatings. The increasing demand for architectural paints and coatings, rising construction activities, and the surging spending power of people are the key determinants spurring the paints and coatings market growth.
For instance, according to the recent statistics published by the World Paint & Coatings Industry Association (WPCIA), the Asia-Pacific paints and coatings market was the leading region, valued at USD 63 billion in 2022. China dominated the Asia-Pacific regional market, which grew at a CAGR of 5.8%. The European region was the second largest market for the paints and coatings industry, valued at USD 42.37 billion in 2022. In addition, the North American paints and coatings sector was the third largest market in the global ranking, valued at USD 33.92 billion in 2022. Hence, the booming paints and coatings industry is driving the demand for 1,4 butanediol worldwide as a cross-linking agent, thereby accelerating the market growth.
The Dominance of the Asia-Pacific Region in the Overall Market
Asia-Pacific is experiencing rapid growth in various industries, such as textiles, electronics, and automotive, which are major consumers of 1,4 butanediol, thereby driving the revenue growth of the market. Also, the Asia-Pacific region offers low-cost labor and resources, making it an attractive destination for 1,4 butanediol. Therefore, Asia-Pacific countries, such as India, China, and Japan, are the major hubs for manufacturing 1,4 butanediol.
Factors, such as the development of new manufacturing facilities for the production of lithium-ion batteries, increasing production of plastics, and surging output for adhesives and sealants, among others, are mainly accelerating the growth of the 1,4 butanediol market across the Asia-Pacific region. For instance, according to the recent 2023 data published by Plastics Europe, the global production of plastics in 2022 was 400.3 million tons and the Asia-Pacific region was the dominant market, holding a share of 54% of the global plastics production. Furthermore, China held about 33% share in the global plastics production. Therefore, the booming end-use industries in the Asia-Pacific region are amplifying the growth of the 1,4 butanediol market.
Future Market Scenario (2024 - 2031F)
EVs are expected to experience a rise in their adoption in upcoming years. Due to this, the demand for lithium-ion batteries will also grow, in turn, influencing the market of 1,4 butanediol.
As environmental concerns push for more sustainable technological solutions, green building initiatives will take place and further accelerate the market.
Pharmaceutical industry growth will scatter the market demand for innovative and more use cases for 1,4 butanediol.
Due to research and innovation in industrial grids, there will be more use cases of 1,4 butanediol in factories.
Key Players Landscape and Outlook
The key players operating in the global 1,4 butanediol market include BASF SE, Ashland Inc., Mitsubishi Chemical Corporation., LyondellBasell Industries Holdings, B.V., Sinopec Yizheng Chemical Fiber Company Limited, DCC, NAN YA PLASTICS CORPORATION, Sipchem Company, Henan GP Chemicals Co., Ltd, and Hefei TNJ Chemical Industry Co., Ltd. These players are equipped with state-of-the-art manufacturing facilities and research & development (R&D) capabilities to ensure adequate supply and development of the 1,4 butanediol chemical range. Major companies in the 1,4-butanediol market have adopted joint ventures, expansions, and acquisitions as key strategies to consolidate their position in the global 1,4-butanediol market.
In April 2021, Hunan Yuxin Energy Technology Co., Ltd. announced the development of a new 1,4-butanediol (BDO) plant with a production capacity of 120,000 tons per annum. The USD 71 million 1,4-butanediol (BDO) plant construction will be completed by the end of 2024. The development of the 1,4-butanediol (BDO) plant will accelerate the growth of the market in the coming years.
In September 2023, BASF SE procured a long-term contract to obtain QIRA, a bio-based 1,4-butanediol (BDO) from Qore LLC, which is a joint venture between Cargill & HELM AG. Qore LLC will manufacture the biobased BDO at Cargill's biotechnology campus and corn refining facility in Eddyville, Iowa. BASF will increase its existing offer of BDO derivatives with bio-based variants of tetrahydrofuran (THF) and polytetramethylene ether glycol (polytetrahydrofuran, PolyTHF) in partnership with Qore LLC. The first commercial quantities are projected to be launched in Q1 of 2025.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.