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1.4-Butaneiol(BDO) is a key raw material for organic and fine chemicals, capable of generating various derivativs like tetrahydrofuran(THF), PTMEG and GBL. 1.4-Butaneiol(BDO) and its derivatives find wide application in PBT plastics, spandex, polyurethane, pharmaceuticals and cosmetics.
Spurred by downstrem demand, global 1.4-Butaneiol(BDO) capacity enlarged steadily in recent years and reach 3,990kt/a in 2016, with a CAGR of 13.5% during 2010-2016. However, saturating of 1.4-Butaneiol(BDO) demand in American and European markets will retard expansion of 1.4-Butaneiol(BDO) capacity worldwide. It is predicted that global 1.4-Butaneiol(BDO) capacity will grown at a pace of 3%-6% during 2017-2021.
Global 1.4-Butaneiol(BDO) capacity largely lies in Asia, espcially in China which seized 2,079kt/a1.4-Butaneiol(BDO) capacity( a 52.1% share of global total) in 2016, with a CAGR of 35.3% during 2010-2016, being the key contributor to global 1.4-Butaneiol(BDO) capacity growth. Nevertheless, most Chinese players have been in the red for a long time for excessive expansion of 1.4-Butaneiol(BDO) capacity in China further intensified oversupply in the market and slowdown of downstream demand growth led to operating rate below 50%. As a result, China's 1.4-Butaneiol(BDO) capacity expansion will gear down with a growth rate of 5%-8% during 2017-2021.
Global 1.4-Butaneiol(BDO) market has a relatively stable competitive pattern and a high concentration due to high technical barries and limited sources of raw materials. Main producers include: foreigh companies such as BASF, LyondellBasell and ISP; Taiwan-based Dairen Chemical and Nan Ya Plastics. As of June 2017, the world's top 3 players by capacity were BASF, Dairen Chemical and Markor Chem, together sharing 39.0% of global total capacity.
China's 1.4-Butaneiol(BDO) price presented a fluctuating downtrend due to overcapacity in recent years. The price did not pick up until the end of 2016, and returned to the level of 2014 in June 2017. Tight supply constituted the main reason for recovery in price: explosion of an abandoned catalytic storage tank of SINOPEC Great Wall Energy and Chemical, halted production of the company's BDO plants for almost three months in the second half of 2016.
By downstream application, PTMEG, PBT and GBL took up 92% of total 1.4-Butaneiol(BDO) demand in China in 2016, of which PTMEG had the biggest demand, a 43% share of the total. Pulled by capacity expansion, PTMEG's demand for 1.4-Butaneiol(BDO) will grow at a rate of about 10% during 2017-2021.
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