The North America 1,4-Butanediol Market would witness market growth of 7.3% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 318.7 KILO TONNES, showcasing a growth of 25.5% (2020-2023).
In the 1,4-Butanediol (BDO) market, "synthetic" refers to BDO produced through chemical synthesis rather than biological processes. Synthetic BDO is primarily derived from petrochemical feedstocks through processes such as Reppe chemistry, which involves the reaction of acetylene with formaldehyde, or from other petrochemical-based methods. This type of BDO is widely used due to its consistent quality, high purity, and cost-effectiveness. It is a critical raw material for manufacturing various industrial products, including plastics, polyurethanes, and elastic fibers. Thus, the synthetic in US market registered a volume of 341.8 Kilo Tonnes in 2023.
The US market dominated the North America Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,149.1 million by 2031. The Canada market is experiencing a CAGR of 9.6% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 8.6% during (2024 - 2031).
This BDO is a cornerstone chemical compound in the modern industrial landscape, with a multifaceted presence across various sectors. Its importance lies in its wide range of uses and its essential function as a chemical intermediary in synthesizing many downstream products. The adoption of this has steadily risen over the years, propelled by its versatility and indispensability across multiple industries. Initially embraced for its utility as a precursor in polymer manufacturing, BDO has now found its way into myriad applications, from textiles to pharmaceuticals.
Furthermore, BDO's unique chemical structure and properties make it an ideal candidate for various chemical reactions, enabling its use as a building block for an extensive range of products. The functional advantages BDO offers, such as its solubility, reactivity, and compatibility with other compounds, have made it indispensable in formulating diverse end-products. The burgeoning demand for BDO-driven products, coupled with the continuous expansion of end-use sectors, has fueled the adoption of this chemical compound on large scale.
Spandex fibers, which are derived from BDO, are essential components in stretchable and elastic textiles. As the textile sector in Mexico grows, there will be a greater demand for spandex fibers to meet the requirements of various industries, such as apparel, sportswear, undergarments, and medical textiles. This increased production of spandex fibers will directly translate into higher demand for BDO as a raw material. As per the Government of Mexico, in the fourth quarter of 2023, the textile mills sector generated a gross domestic product of $5.18T MX, which represents a decline of 2.09% in comparison to the preceding quarter and a reduction of 0.99% in comparison to the corresponding period of the prior year. Moreover, as the agriculture sector in Canada grows, there's an increasing need for sustainable packaging solutions. Biodegradable plastics derived from BDO are gaining traction in agriculture for mulch films, greenhouse covers, and agricultural packaging materials. These materials offer environmental benefits and align with the sustainability goals of the agriculture industry. As per the data from the Government of Canada, in 2022, the whole agriculture and agri-food system generated $143.8 billion (around 7.0%) of Canada's gross domestic product (GDP). Therefore, rising textile and agriculture sectors can boost the demand for 1,4-butanediol in the region.
Free Valuable Insights: The 1,4-Butanediol Market is Predict to reach USD 12.7 Billion by 2031, at a CAGR of 7.5%
Based on Type, the market is segmented into Synthetic and Bio-based. Based on Technology, the market is segmented into Reppe Process, Davy Process, Butadine Process, Propylene Oxide Process, and Others. Based on Application, the market is segmented into Tetrahydrofuran, Polybutylene Terephthalate, Gamma Butyrolactone, Polyurethane, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Technology
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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