The butynediol market size will witness a commendable gain on account of increased demand for tetrahydrofuran (THF). The industrial solvent has become highly sought-after for natural and synthetic resins. Moreover, the growing penetration of nylon has furthered the demand for tetrahydrofuran. Fortune Business Insights™ has delved into these insights in an upcoming research report, titled, “Butynediol Market, 2022-2029.”

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COVID-19 Impact

Dip in Automotive Production Marred Business Outlook

The influence of the COVID-19 outbreak was pronounced across end-use sectors, including the automotive industry. The shutdown of assembly plants, along with the supply gap of the compound, will continue to challenge leading companies vying to expand their portfolios. Meanwhile, a notable shift towards environmentally friendly products and rigorous government regulations will augur well for the business forecast.

Segments-

Strong Demand for Polyurethane (PU) to Boost Industry Growth

In terms of application, the butynediol market is segregated into gamma-butyrolactone (GBL), tetrahydrofuran, polyurethane (PU), polybutylene terephthalate (PBT) and others. Based on geography, the market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa and Latin America.

Industry players expect 1,4 butanediol to play an invaluable role in creating polyurethanes, partly due to high purity and low moisture content. Robust demand for PU across the end-use sectors will encourage leading companies to expand their footprint.

Report Coverage-

The upcoming research report includes secondary and primary sources to provide a holistic view. The report consists of government websites, SEC filings annual reports, press releases, journals, studies published by the leading organization. The report also deep dives into top-down and bottom-up approaches to provide a birds-eye-view of product mapping. The report also deep-dives into opportunities, drivers, restraints and trends that could bring a paradigm shift in the landscape.

Drivers and Restraints-

Robust Demand for Tetrahydrofuran to Underpin Growth Potentials

Butynediol market growth will gain traction from the rising demand for the compound in the THF application. THF has become highly sought-after in the production of spandex fiber across the garment sector. Industry players have exhibited an inclination in the compound owing to its elasticity property. Some of the major applications, including pharmaceutical and solvent, will add fillip to the industry growth. The chemical compound will continue to be sought as a solvent in producing and processing a host of adhesives and polymers. Meanwhile, fluctuating raw material prices may challenge industry players gearing to expand their portfolios.

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Regional Insights-

Asia Pacific to Provide Lucrative Opportunities with Increased Demand for the Compound

Bullish demand for BDO in China, India and Vietnam will provide impetus to the expansion of polybutylene terephthalate and tetrahydrofuran. Considering the growth of the automotive sector in China, Asia Pacific butynediol market share will witness an appreciable gain during the forecast period. Rising penetration of electronic products, such as earphones, tablets, OLED TVs and wires, will expedite the growth of 1,4-butynediol across the region.

North America will provide promising growth opportunities in the wake of the growing footprint of sports equipment in the U.S. Millennials and the Gen Z population have exhibited a profound interest in adopting fitness and sports equipment, triggering the demand for fabrics. Besides, advanced economies are expected to spearhead the applications of materials for industrial and hospitality sectors.

Competitive Landscape-

Industry Participants to Inject Funds into Strategic Approaches to Tap Markets

Leading companies are expected to invest in technological advancements, mergers & acquisitions, product launches and R&D activities. Industry participants are poised to emphasize geographic expansion to expand their penetration. One of the major industry developments is illustrated below:

  • June 2021: Cargill joined hands with HELM to boost the 1,4-butanediol portfolio that could save up to 93% of greenhouse gas emissions compared to the traditional BDO. Both companies are reported to pour around USD 300 million to establish renewable, commercial BDO facility in the U.S.

Some of the Leading Companies Profiled in the Market:

  • Mitsubishi Chemicals (Japan)
  • BASF SE (Germany)
  • Invista (U.S.)
  • Shanxi Sanwei (China)
  • American Chemistry Council, Inc. (U.S.)
  • LyondellBasell Chemicals (U.S.)

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