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Globally, the market for 1, 4-Butanediol is growing at a CAGR of 8.18% during forecasted period (2016-2022). Increasing applications of 1, 4-Butanediol in various industrial processes along with the growing demand for spandex in textiles have been responsible for driving growth in recent years.
Tetrahydrofuran (THF), one of the major application of 1, 4-Butanediol, is widely utilized in various applications such as in the production of polytetramethylether glycols (PTMEG). This is further processed to derive spandex, and as an intermediate in manufacturing natural gas odorants owing to its wide liquid range. Additionally, growing awareness regarding the processing benefits of these, and other BDO applications, are responsible for industry expansion. Major players are shifting their production plant in emerging economies in Asia-Pacific, and introducing new technologies, which is anticipated to drive innovation in the near future. On the other hand, increasing environmental concerns and reduction of non-renewable resources such as crude oil and natural gas have stimulated the development of several innovative, sustainable technologies that utilize bio-based, renewable resources for production. The transference towards sustainable products is also responsible for driving bio-based 1, 4-Butanediol production and consumption.
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