Press Release

Global Bio-Butanediol Market to Grow at a CAGR of Around 7.5% During the Forecast Period

The Global Bio-Butanediol Market size is anticipated to grow at a CAGR of about 7.5% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The escalating market growth underscores a heightened awareness of environmental sustainability and the imperative for renewable, bio-based alternatives across diverse end-user industries such as automotive, consumer goods, and textiles. Bio-butanediol emerges as a compelling eco-friendly and sustainable choice compared to its fossil fuel-based counterparts, addressing the burgeoning demand for sustainable options. Moreover, the increasing recognition of the necessity to mitigate greenhouse gas emissions worldwide further propels the call for bio-based alternatives to conventional petrochemical-derived products.

The surging consumer preference for fuel-efficient and environmentally conscious vehicles is propelling heightened manufacturing activities in the automotive sector. Bio-butanediol finds extensive application in the production of automotive and electric vehicle components, driving its widespread adoption. The heightened manufacturing activities in the automotive industry are concurrently driving the demand for polymers like Polybutylene Terephthalate (PBT) for various automotive components. Consequently, the demand for bio-based alternatives to traditional petroleum-derived polymers is experiencing a notable surge in polymer manufacturing, thereby boosting the demand for bio-butanediol. Thus, with the burgeoning demand for polymers in automotive manufacturing, the demand for bio-butanediol is poised to escalate, fueling the growth of the Global Bio-Butanediol Market.

Furthermore, the increased utilization of bio-butanediol in the production of electrical appliances, textile fibers, and various consumer goods, owing to its environmentally friendly characteristics, is driving its widespread adoption and fostering market expansion, further states the research report, “Global Bio-Butanediol Market Analysis, 2024.”

Global Bio-Butanediol Market Segmentation Analysis:

Textile Segment Holda a Major Market Share

Based on the end user, the market is segmented into automotive, electrical & electronics, packaging, textile, consumer goods, and others. Among them, the textile segment is poised for a substantial share of the market, driven by increasing demand for sustainable and eco-friendly clothing among consumers. With an increasing preference for environmentally conscious apparel, manufacturers are ramping up the production of organic textile polymers like polyethylene terephthalate (PET) derived from bio-butanediol.

Bio-butanediol offers exceptional properties for textile applications, including moisture-wicking abilities, durability, and dye receptivity, making it a favored choice for fiber manufacturing worldwide. Leading companies such as Levi's and Quince, renowned for their sustainable clothing offerings, are embracing eco-friendly options, further catalyzing the adoption of bio-butanediol. Additionally, bio-butanediol finds extensive utilization in the production of elastane fibers, pivotal for stretchable textiles, thereby amplifying its demand. The escalating consumer preference for comfortable and flexible apparel is fueling the need for bio-butanediol in the manufacturing of sportswear, lingerie, and various garments, thereby propelling the growth of the Global Bio-Butanediol Market.

Asia-Pacific to Account for a Prominent Market Share

The Asia-Pacific region is expected to hold a considerable share due to the presence of various industrial infrastructures and manufacturing capabilities for plastic polymers in the region. Furthermore, the region benefits from a burgeoning consumer base that increasingly favors eco-friendly products, spurring demand for bio-based alternatives across sectors like textiles, automotive, and cosmetics. Key manufacturing countries such as China, India, and Thailand play vital roles in automotive production, where bio-butanediol is integral for sustainable manufacturing practices, further propelling its demand.

Additionally, the region's adoption of electric and hybrid vehicles, driven by sustainability goals, is fueling the surge in electric vehicle and parts manufacturing, necessitating increased bio-butanediol usage. Moreover, the presence of industry leaders like Cargill and BASF SE, which supply raw materials for bio-butanediol production, reinforces the market's growth in the Asia-Pacific region.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, BASF SE, Novamont SpA, LCY Chemical, Shandong LanDian Biological Technology Co. Ltd, DSM, Global Bio-Chem, Genomatica, Cargill Incorporated, Mitsubishi Chemical, Bio-Amber, Qira, DuPont, Braskem, DOW, LG Chemical, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?