The global Europe 1,4 Butanediol (BDO) market size is expected to reach USD 2,347.05 million by 2030, according to a new study by Polaris Market Research. The report “Europe 1,4 Butanediol (BDO) Market Share, Size, Trends, Industry Analysis Report, By Technology (Butadiene Process, Davy Process, Propylene Oxide Process, Reppe Process, Other Processes); By Application; By End-Use; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Major market players including BASF have been inspired to create alternative, bio-based processing technologies as a result of the increased global focus on green chemistry, which is anticipated to propel the 1, 4 BDO growth throughout the forecast period. Additionally, the market is anticipated to profit from growing investments in environmentally friendly technologies that would probably boost current workflows and increase overall effectiveness.
Have Questions? Request a sample or make an Inquiry before buying this report by clicking the link below: https://www.polarismarketresearch.com/industry-analysis/europe-1-4-butanediol-bdo-market/request-for-sample
1,4-BDO is an important intermediary raw material in manufacturing elastic fibers, plastics, spandex fibers, and films. Polybutylene Terephthalate (PBT) is a synthetic thermoplastic polymer, manufactured from 1,4 – Butanediol. It is widely used in the automotive industry such as automotive interior and exterior parts include gas tanks, doors, seat components, bumpers, airbags, rims, gas tanks, under bonnet parts, exterior rims, etc due to its higher durability, hydrophobicity, and chemical resistance. The rising demand for lightweight vehicles and continuous research for its applications are the major driving forces of PBT which in turn boosts the demand for BDO.
The rise in urbanization, improving the standard of living, and financing options are some of the major factors for the growing demands for automobiles in developing and developed countries. With constant innovations in technologies like AI and ML algorithms, automobile companies are constantly optimizing the efficiency and safety of vehicles which drives the demand for different parts that are produced from PBT. Cumulatively all these factors are majorly responsible for the demand for different automotive parts globally and hence increase the market of 1-4 Butanediol.
In spite of border closures, travel restrictions, and lockdown measures, the industry's top focus during the first several months of 2020 was to ensure deliveries of vital chemicals into supply chains deemed "important" during the pandemic breakout, such as the medical and food sectors. Following an increase in demand during the first semester of the year, the manufacturing output of these industry subsectors stayed constant or even increased.
Due to the relative recovery in consumption during the summer and firms' ability to modify their operations to meet governmental sanitary and distance criteria, demand as well as chemical output surged starting in September. The third quarter had a growth of 6.1% from the second.
Europe 1,4 Butanediol Market Report Highlights
Polaris Market Research has segmented the Europe 1,4 Butanediol market report based on Technology, Application, End-Use:
Europe 1,4 Butanediol (BDO), Technology analysis Outlook (Volume – Kiloton, Revenue - USD Million, 2018 - 2030)
Europe 1,4 Butanediol (BDO), Application Outlook (Volume – Kiloton, Revenue - USD Million, 2018 - 2030)
Europe 1,4 Butanediol (BDO), End-Use Outlook (Volume – Kiloton, Revenue - USD Million, 2018 - 2030)
Europe 1,4 Butanediol (BDO), Regional Outlook (Volume – Kiloton, Revenue - USD Million, 2018 - 2030)