DUBLIN, December 17, 2021– (BUSINESS WIRE) – The report “1.4 Butanediol Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.
The global 1.4 Butanediol market is valued at 2170 kilotons in 2020 and is expected to register a CAGR of over 3.5% during the forecast period (2021-2026).
LyondellBasell Industries Holdings BV
Mitsubishi Chemical Corporation
NAN YA PLASTICS COMPANY
SINOPEC YIZHENG CHEMICAL FIBER LIMITED LIABILITY COMPANY
Shanxi Sanwei Group Co. Ltd
Xinjiang Tianye (Group) Co. Ltd
Xinjiang Blueridge Tunhe Chemical Industry Co. Ltd
Key market trends
Textile industry to dominate market demand
1.4 BDO is also used as an adhesive in leather, plastics, polyester laminates and polyurethane footwear. 1,4-Butanediol is a chemical that is used immediately in the production of thermoplastic polyurethane (TPU) which is also used in the manufacture of synthetic leather soles.
THF is used for the production of spandex fiber which has conquered the garment industry. Spandex is a light, soft and smooth synthetic fiber that has a unique elasticity. Due to its elastic property, it is used in making stretchy garments. Spandex fibers, made from 80% polytetramethylene ether glycol (PTMEG or PolyTHF), can be stretched between 500% and 700% of their original length and maintain their shape over time. The growth rates of spandex fiber are estimated to be around 10%, which is much higher than the growth rates of textiles. The trend towards comfortable clothing with high wearing comfort is driving the demand in this area.
The material is used in the manufacture of compression garments: motion capture suits, surgical hose and support hose.
It is also a useful fabric for the hotel industry and industrial organizations. Spandex fabrics are mainly used in garments where comfort and fit are both required such as stockings, swimwear, exercise clothes, socks, surgical hoses, underwear, gloves , cycling shorts, wrestling suits, rowing suits, specialized clothing like zentai suits, motion capture suits, denims, etc. Also, it is used in sports equipment such as volleyball, soccer ball, netball, and wetsuits. Spandex is also used for table coverings – the elastic nature of the fiber ensures that the fabric is durable enough to withstand the wear and tear that comes with frequent use. The material also finds its applications in household products such as fitted sheets and microbead pillows, etc.
The Asia-Pacific region will dominate the market
The Asia-Pacific region dominated the global market in 2020. The demand for the studied market is driven by the increasing demand from various industries such as electronics, leather and electronics among others.
China is the world’s largest automobile producer and is now focusing on the development of electric vehicles.
The region is witnessing many investments from global automakers, such as BMW, Hyundai Motors and Honda, in the automotive industry. This, in turn, is likely to increase the demand for 1.4 butanediol.
In addition, China has the world’s largest electronics production base. Electronic products, such as smartphones, OLED TVs, tablets, wires, cables, headphones, etc. are experiencing the strongest growth in the electronics segment. With the increase in the disposable income of the middle class population and the increasing demand for electronic products from the electronics importing countries of China, the production of electronic products has increased.
In India, the government has also encouraged the growth of the electronics industry through initiatives, such as a phased manufacturing program (PMP), to add more smartphone components as part of the ” Make in India ”, in order to stimulate domestic manufacture of mobile phones. .
In addition, with the increase in income of the population, the demand for household appliances, such as air conditioners, refrigerators, washing machines, microwaves, etc., has increased significantly, which further stimulates the growth in the home appliance market. The growth of the electronics industry would pave the way for chemicals used in production, thereby accelerating the growth of 1,4 butanediol.
According to Japan’s Electronics and Information Technology Industries (JEITA), the electronics industry is expected to grow by 7% with the increase in the use of remote technologies in 2021.
Hence, all these favorable market trends are expected to drive the demand for 1.4 Butanediol during the forecast period.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand for Tetrahydrofuran (THF) for Spandex Fibers
4.1.2 Growing Demand for Polybutylene Terephthalate (PBT) from Various Industries
4.2.1 Closure of 1.4 butanediol plants over the years
4.2.2 Adverse conditions due to the COVID-19 epidemic
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.5 Production capacity (major players)
5 MARKET SEGMENTATION
5.2 End-user industry
6 COMPETITIVE LANDSCAPE
6.1 Mergers and acquisitions, joint ventures, collaborations and agreements
6.2 Market share (%) ** / Ranking analysis
6.3 Strategies adopted by the main actors
6.4 Company profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing development of bio-based BDO
7.2 Reducing the carbon footprint of clothing
For more information on this report, visit https://www.researchandmarkets.com/r/gnej0x
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211217005269/en/
Laura Wood, Senior Press Director
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