1,3-Butanediol Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2024 to 2031)

The global 1,3-butanediol market is anticipated to grow at a CAGR of 5.1% during the forecast period (2024–2031). The market growth is driven by rising consumption and application of rubber products. 1,3-butadiene is a key raw material to produce synthetic rubbers, specifically styrene-butadiene rubber (SBR) and polybutadiene rubber (PBR). SBR is used in tire treads and sidewalls, while PBR is used in the production of tires, hoses, belts, and other rubber products. For instance, as per the International Annals of Science 2021 report, the demand for rubber application has increased and is forecasted to reach $23.2 billion in five years with companies globally expanding in the butadiene plants and increasing the production rate to meet the global demand.

Moreover, major demand for synthetic rubber was attributed todemand for replacement tires and, to a lesser degree, for tires that original equipment manufacturers (OEMs) mount on new vehicles. According to the International Rubber Study Group (IRSG) Synthetic Rubber (SR) production increased to 485,165 tons during 2021-22 from 428,320 tons during 2020-21, registering a growth of 13.3% as against a growth of 7.4% during 2020-21. During 2021-22, shares of styrene butadiene rubber and poly-butadiene rubber were 57.6% and 27.4% respectively. The auto tire sector consumed 507,963 tons of SR during 2021-22 as against 429,295 tons during 2020-21, recording a high growth of 18.3%. 

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Market Coverage

•                 The market number available for – 2023-2031

•                 Base year- 2023

•                 Forecast period- 2024-2031

Segment Covered- 

•                 By Type

•                 By Grade

•                 By Application

Regions Covered- 

•                 North America 

•                 Europe 

•                 Asia-Pacific 

•                 Rest of the World

Competitive landscape include OQ Chemicals GmbH, KH Neuchem Co. Ltd, Daicel Corp., Biosynth Ltd., and Accela Chembio Co., Ltd.

 1,3-Butanediol Market Report Segment

By Type

Bio-based

Petro-based

By Grade

•                 Industrial Grade

•                 Cosmetic Grade

By Application

•                 Cosmetic

•                 Polyester Resins

•                 Plasticizers

•                 Foods and Beverages

•                 Others

A full Report of 1,3-Butanediol Market is Available @  https://www.omrglobal.com/industry-reports/1-3-butanediol-market

1,3-Butanediol Market Report Segment by Region

North America                                                                                                           

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•       Latin America

•       Middle East and Africa 

Company Profiles

•                 Alpha Chemika

•                 Biosynth Ltd

•                 Central Drug House

•                 Daicel Corp

•                 Genomatica, Inc. 

•                 Haihang Industry Co. Ltd.

•                 Julius HoeschGmbh& Co. KG

•                 KhNeochem Co., Ltd.

•                 Oq Chemicals Gmbh

•                 Shenzhen Starshine Technology Co., Ltd

•                 Simson Pharma

•                 Spectrum Chemical Mfg. Corp

•                 Sunway Pharm Ltd.

•                 SyskemChemieGmbh

•                 Thermo Fisher Scientific Inc. 

•                 Tokyo Chemical Industry Pvt. Ltd.

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