(I-BusinessNews.Com, June 25, 2019 ) The bio-based 1,4-butanediol market is expected to grow at a CAGR of above 7% during the forecast period of 2019 – 2024. The major factors driving the growth of market studied are the increasing demand for polybutylene terephthalate (PBT) from various industries, and stringent government regulations. On the flipside, huge competition from fossil-fuel products remains a concern for the studied market.

– Automotive segment dominated the market in 2018 and is likely to grow during the forecast period, with increase in demand for application in vehicles.
– The shift of focus towards eco-friendly products, increasing research to develop bio-based PBT, and technological advancements are likely to provide opportunities for the studied market during the forecast period.
– Asia-Pacific dominated the market across the globe, where the demand is driven by the growing usage in industries, such as automotive, electronics, and consumer appliances.

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Key Market Trends
Automotive Segment to Dominate the Market Demand

– 1,4-butanediol is heavily required in the production of PBT, which is then used in automotive production.
– With the growing environment regulations and focus towards developing eco-friendly products, 1,4-butanediol market has also been turning to the bio-based materials for production of 1,4-butanediol.
– Thus, bio-based 1,4-butadeniol application in the production of PBT has also been increasing simultaneously.
– PBT is a semi-crystalline, white or off-white thermoplastic polyester with higher impact strength, better electrical resistance, and exceptional chemical resistance. Such properties of PBT makes it widely suitable for application in automotive industry.
– PBT is used in both interior and exterior applications, especially in electrical systems of the automotive industry.
– The automotive industry has been witnessing strong growth in investment and production in Asia-Pacific countries, such as India, Indonesia, Malaysia, and Thailand.
– Besides, regions, such as North America and Europe have been investing in innovation & development of cars with efficient and more environment friendly materials.
– Such practices in the automotive industry are expected to drive the demand of PBT for automotive application across the globe, which is further likely to increase the demand for the studied market in the coming years.

Asia-Pacific Region to Dominate the Market

– Asia-Pacific region dominated the global market share in 2018. The demand for market studied is driven by the growing demand from industries, such as automotive, electronics, and consumer appliances.
– In Asia-Pacific, the automotive production has been increasing in the countries, such as India, Indonesia, Malaysia, and Thailand. Besides, China is the largest automotive producer in the world, which is now focusing on the development of electric vehicles.
– The region is witnessing numerous investments by the global automakers, like BMW, Hyundai Motors, and Honda into the automotive industry to increase production, and cater to the increasing automotive demand of the masses in the region.
– Besides, China has the world’s largest electronics production base. Electronic products, such as smartphones, OLED TVs, tablets, wires, cables, earphones, and so on, have the highest growth in the electronics segment. With increase in the disposable income of middle-class population in the country, and increasing demand for electronic products in the countries importing electronic products from China, the production of electronics has been increasing.
– In India, the government has also been pushing the growth of electronic industry through initiatives, such as a Phased Manufacturing Programme (PMP) to add more smartphone components under the “Make in India” initiative in order to push the domestic manufacturing of mobile handsets.
– Besides, with increasing income of the population, the demand for consumer appliances, such as air-conditioners, fridge, washing machines, microwaves, etc. have noticeable demand in the region, which is further driving the growth of consumer appliances market.
– Hence, all such favorable market trends are expected to drive the demand for bio-based 1,4-butanediol for raw material applications in the region during the forecast period.

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Competitive Landscape
The bio-based 1,4-butanediol market is a fragmented market, where numerous players hold insignificant share of the market demand to affect the market dynamics individually. Some of the noticeable players in the market include DSM N.V., BASF SE, Novamount SpA, Ashland, and Mitsubishi Chemical Corporation, amongst others.

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Major Point of TOC:






Chapter Six: Competitive Landscape

7.1 Shift in Focus toward Eco-friendly Products
7.2 Increasing Research to Develop Bio-based PBT
7.3 Technological Advancements

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