H1 2023: Prominent players in the global Butanediol market in H1 2023 were BASF SE, Dairen Chemical Corporation, and LyondellBasell Industries N.V. Based on Butanediol production; BASF SE was the leading producer of Butanediol across the globe in H1 2023. In May 2023, McDermott, one of the leading engineering providers, received the PMC contract from India Oil Corporation Limited (IOCL) for their new maleic anhydride unit at the Panipat Refinery Petrochemical Complex. This complex will produce malic anhydride and other chemical products like Butanediol, Poly Urethanes, and Poly Butylene Terephthalates. In H1 2023, the Butanediol market scenario in the Asia Pacific region was mixed. It was due to a confused demand outlook for downstream products such as tetrahydrofuran in the Asian market. Buyers faced tight product supply during the lunar holiday period in China. By the end of March 2023, stocks of Butanediol were able to meet the demand and there were fewer orders of the product in the region. In April 2023, various plants in China were shut down for maintenance purposes, including Inner Mongolia Dongyuan Technology Co., Ltd. (shut down for 10 days), Henan Kaixiang Fine Chemical Co., LTD. (shut down for 28 days), and Markor Meiou Chemical (Xinjiang) Co., Ltd. (shut for 30 days). In May 2023, Korea Ptg Co., Ltd. had their site in South Korea faced a force majeure which was lifted after 31 days. The butanediol prices fell in China after the end of May 2023 due to low demand, stockpile shortages, and China's weak economy. Low buyer spending in China was the primary driver of Butanediol's pricing pattern near the conclusion of H1 2023.
However, the prices of butanediol showed an upward trend in North America due to uplifted demand outlook and fluctuations in raw material prices. In the end of March 2023, the country's economic conditions improve but the coatings industry was still sluggish as demand in the housing sector was hazy. USA’s Butanediol production rate was modest, and inventories were ample in North America.
The global Butanediol market has expanded to reach approximately 3521 thousand tonnes in 2023 and is expected to grow at a healthy CAGR of 4.81% during the forecast period until 2034.
Butanediol is a colorless, thick, water-soluble organic compound. It is highly versatile and acts as a precursor to several derivatives such as polyesters, esters, carbamates, and urethanes. On industrial scale, BDO is produced by several methods such as reppe method, maleic anhydride method, butadiene-acetic acid method, propylene oxide method, etc. Among these, the reppe process is the most used method across the world to produce Butanediol. In the reppe method, Formaldehyde reacts with Acetylene followed by hydrogenation to produce BDO. Due to the rising environmental concerns, the Butanediol manufacturers are now investing in the production of bio-based BDO that is synthesized from sustainable sources (Plant-based feedstocks) which is expected to drive its market growth during the forecast period.
Butanediol and its derivatives finds uses in various industries such as elastomers, polymer processing, automotive, Electronics and Electricals, Footwear, Textiles, etc. Gamma-butyrolactone (GBL), a derivative of Butanediol is frequently used in industries as a solvent, an intermediate or in the formulations of some drugs. Owing to rapid urbanization across the globe resulting in expansion of population, the demand of Butanediol as a feedstock chemical is anticipated to rise. The global Butanediol market is anticipated to reach 5861 thousand tonnes by 2034.
By Region, the Butanediol market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific dominates the Butanediol market followed by Europe and North America. In 2023, Asia Pacific consumed approximately 68% of the market. Growing demand for spandex fibres and surge from the electronics industry and automotive industry, strengthen the Butanediol market in the developing countries of APAC. In terms of production, Asia Pacific also dominates the global Butanediol market, with China holding more than 60% of the regional capacity.
Based on the end-use, the global Butanediol market is divided into Tetrahydrofuran (THF), Gamma butyrolactone (GBL), PBT (Polybutylene terephthalate), PBAT, and Others. As of 2023, majority of the Butanediol is being consumed by the Tetrahydrofuran (THF) with a market share of about 65%. THF is further utilized to synthesize Polytetramethylene Ether Glycol (PTMEG), a key feedstock used to produce spandex fibers, polyesters, polyethers & urethane elastomers. Polybutylene terephthalate (PBT) chemical is the second largest consumer of Butanediol.
Major players in the production of Global Butanediol are BASF SE, Dairen Chemical Corporation, Chang Chun Dairen (PanJin) Chemical Co., LTD, Bluestar New Chemical Materials Co, Ltd, Henan Kaixiang Fine Chemical Co., LTD, Gulf Advanced Chemical Industries Co. Ltd (GACIC), Ashland Global Holdings Inc. Chongqing Chiyuan Chemical Co., LTD., and others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2030
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Objective of the Study:
• To assess the demand-supply scenario of Butanediol which covers production, demand and supply of Butanediol market in the globe.
• To analyse and forecast the market size of Butanediol
• To classify and forecast Global Butanediol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Butanediol market in the globe.
To extract data for Global Butanediol market, primary research surveys were conducted with Butanediol manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Butanediol market over the coming years.
ChemAnalyst calculated Butanediol demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical supply and demand of Butanediol across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Butanediol manufacturers and other stakeholders
• Organizations, forums and alliances related to Butanediol distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Butanediol manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Butanediol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
|
Attribute
|
Details
|
|
Market size Volume in 2023 |
3521 thousand tonnes |
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Market size Volume by 2034 |
5861 thousand tonnes |
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Growth Rate |
CAGR of 4.81% from 2024 to 2034 |
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Base year for estimation |
2024 |
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Historic Data |
2015 – 2023 |
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Forecast period |
2025 – 2034 |
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Quantitative units |
Demand in thousand tonnes and CAGR from 2024 to 2034 |
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Report coverage |
Industry Market Size, Capacity by Company, Capacity by Location, Capacity by Technology, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process. |
|
Segments covered |
By End-Use: [Tetrahydrofuran (THF), Gamma butyrolactone (GBL), PBT (Polybutylene terephthalate), PBAT, and Others]
By Sales Channel: (Direct Sale and Indirect Sale) |
|
Regional scope |
North America, Europe, Asia Pacific, Middle East and Africa, and South America. |
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Pricing and purchase options |
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Disruption Tracker reflect the major shutdown on monthly basis which will help you in tracking the inventory management and smooth functioning of business. Unforeseen shutdowns and disruptions resulting in a loss of production capacity to impact the bottom line. The capacity tracker provides industries with a global view of production and consumption capacity loss that reflects the corresponding conversion factors. It also highlights the immediate impact on supply due to planned and unplanned outages as well as upcoming start-up of new capacities. Additionally, it emphasizes how each shutdown—whether due to a maintenance turnaround or a case of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on supply of the product in the market at a Global level.
Q1.
What is the expected global market size of Butanediol in terms of volume for 2034?
Ans:
The global market size of Butanediol is expected to grow to reach approximately 5861 thousand tonnes by 2034.
Q2.
Which region is dominating the Global Butanediol market?
Ans:
The Asia Pacific region is dominating the Butanediol market with a market share of 68% in 2023.
Q3.
Do you offer single or multiuser license?
Ans:
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Ans:
You will have 24/7 access to the analyst during the subscription period.
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