B2D is becoming more in demand from the healthcare and pharmaceutical sectors: Due to its solubility, 2-butene-1,4-diol is utilised as an excipient in the production of drugs, making it a perfect choice for the healthcare and pharmaceutical sectors. B2D is being used more and more in the manufacture of paints, polymers, and resins: Coatings and thermosetting polymers, which are incredibly resistant to heat and chemicals, are made from 2-butene-1,4-diol.
Additionally, it is employed in the production of unsaturated polyester resins, which find extensive use in numerous products like composites and adhesives. expanding cosmetics industry demand: The need for substances like 2-butene-1,4-diol, which can be utilised to improve the quality of cosmetics and skin care products, has increased due to the rising demand for personal care goods.
Increasing industry demand for food packaging: Due to its low vapour pressure and great compatibility with polymer resins, 2-butene-1,4-diol is frequently employed as a plasticizer in food packaging films. The demand for 2-butene-1,4-diol from the food packaging industry has surged as a result of this.
The manufacturing of polyesters, which are utilised in a variety of applications including the automotive, electrical/electronic, construction, furniture and bedding, packaging, and other industries, depends on the 2-butene-1,4-diol (B2D) Market. For the production of polymers like polybutylene terephthalate (PBT) and polyethylene terephthalate (PET), B2D is a crucial raw ingredient (PBT).
Additionally, it is utilised to make anti-freeze goods. Due to the increased demand for these products from various end-use industries, the 2-butene-1,4-diol (B2D) Market is projected to expand over the course of the forthcoming years.
A clear, colourless liquid with a distinct odour called B2D. The bulk of propylene glycol and water mix well together. B2D has a boiling point of 205°C and a molecular weight of 106.17 g/mol. B2D serves as an intermediary in the production of adhesives, resins, and plastics. Additionally, it serves as a solvent for dyes, inks, and paints. B2D can be used on crops as an insecticide and a regulator of plant growth. Additionally, it is utilised in medications and cosmetics.
By 2031, it is estimated that the global market for 2-butene-1,4-diol (B2D) will be worth USD 4.25 billion, rising at a CAGR of 6.5% from 2021 to 2031.
The organic substance 2-butene-1,4-diol (B2D) is utilised in a variety of end-use sectors, including pharmaceuticals, insecticides, paper, plating additives, plastics, and others. This product's market is expanding globally as a result of the increased demand for it across numerous sectors.
The possible negative impacts on the human health of the B2D business are the main factor impeding its expansion. Skin irritation, nausea, vomiting, and diarrhoea are a few of the possible negative effects of consuming B2D. Long-term B2D exposure can potentially harm the kidneys and liver. B2D is also extremely combustible, which poses a fire risk if handled improperly. Furthermore, B2D's market growth is being constrained by strict government rules relating to its use. Another factor limiting market expansion is the high cost of production and transportation. Nonetheless, prospects for B2D's market expansion may arise from the creation of new applications. The growing demand for bio-based products is also anticipated to fuel market expansion.
The leading producers of 2-butene-1,4-diol (B2D) are LyondellBasell Industries N.V. (Netherlands), Dow Chemical Company (US), Sibur Holding PJSC (Russia), and Wacker Chemie AG (Germany). Additionally, India Glycols Ltd. (India), Ube Industries Ltd. (Japan), CABB GmbH (Germany), and LG Chem Ltd. are the major companies in the 2-butene-1,4-diol (B2D) industry (South Korea). To strengthen their position in the global 2-butene-1,4-diol (B2D) market, these businesses have employed tactics including expansion, acquisitions, joint projects, partnerships, and partnerships.
The Refined Product Category to emerged as the Most Lucrative Type
Refined and crude products make up the segments of the 2-butene-1,4-diol (B2D) market. During the forecast period, the refined product category is anticipated to account for the largest share of the market. Due to its expanding use in the production of polyurethane (PU) and unsaturated polyester resin, this market is increasingly in demand (UPR). Car seats, footwear, furniture, and other industrial uses all frequently use PU resins. The manufacturing of water tanks, boat hulls, and all-purpose coatings makes substantial use of UPR.
The Most Prominent Application is the Plastic Segment
The B2D market is also divided into segments based on application, including those plastic, paper, pesticides, plating additives, and others. The Plastic segment is anticipated to have the largest share of these. In order to improve the flexibility, toughness, and tensile strength of polyvinyl chloride and other similar polymers, B2D is employed as a plasticizer.
The North American Region to render Ample Financing Opportunities
The B2D market is also divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa on the basis of region. Among these areas, North America has the greatest market for B2D because of the region's significant demand from numerous industries, including pesticides and medicine. Furthermore, the existence of important corporations in this area contributes to its continued expansion.
COVID-19 Impact and Market Status
The demand for B2D has decreased as a result of the COVID-19 epidemic in a number of end-use industries, including pharmaceuticals, insecticides, paper, plating additives, plastic, and others. The B2D supply chain has been hampered by the lockdown imposed by several governments throughout the world to stop the virus' spread, which has led to a shortage of raw materials. The market growth has been negatively impacted by this. However, once the lockdown restrictions are released and end-use industry demand rises, it is anticipated that the market will rebound in the upcoming months. Additionally, it is anticipated that the growing demand for B2D from its use in the construction and automotive industries will propel market expansion.
Recent Developments in the 2-butene-1,4-diol (B2D) Market
• The market for 2-butene-1,4-diol (B2D) saw an increase in demand in January 2022 as a result of the rising demand for polyester goods. The popularity of lightweight materials and the rising demand for vehicle parts like bumpers and seats were primarily to blame for this. B2D has also been used more and more in other industries, such as coatings, adhesives, and packaging films.
• Mitsubishi Chemical Corporation announced intentions to increase the amount of 2-butene-1,4-diol (B2D) that may be produced at its plant in Shimonoseki, Japan, in April 2021. By March 2022, this expansion is anticipated to be finished. The enhanced output will assist in supplying the expanding global demand for B2D from a variety of industries.
• BASF stated in February 2021 that it would invest EUR 200 million to upgrade its facility in Antwerp, Belgium, which manufactures 2-butene-1,4-diol (B2D). By January 2023, the facility is expected to be fully operational and will be able to supply 120 kilotons more B2D each year. This new discovery is anticipated to boost a number of B2D-dependent industries, including the automotive and medical sectors.
• The successful launch of LG Chem's 2-butene-1,4-diol (B2D) factory in Daesan, South Korea, was reported in January 2021. The plant, with a capacity of 25,000 tonnes per year, is anticipated to satisfy the rising demand for B2D from a variety of sectors, including the automotive, electronics, and packaging industries. The enhanced production capabilities are anticipated to lower costs and raise the bar for B2D product quality.
2-butene-1,4-diol (B2D) Market Scope
|Revenue forecast in 2031
|USD 4.25 billion
|CAGR of 6.5 % during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|LyondellBasell Industries N.V. (Netherlands), Dow Chemical Company (US), Sibur Holding PJSC (Russia), and Wacker Chemie AG (Germany). Additionally, India Glycols Ltd. (India), Ube Industries Ltd. (Japan), CABB GmbH (Germany), and LG Chem Ltd.
Key Segments of the 2-butene-1,4-diol (B2D) Market
Type Overview, (USD Billion)
• Refined Product
• Crude Product
Application Overview, (USD Billion)
• Plating Additive
Regional Overview,(USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
• Middle East and South Africa