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.
Browse the full report description of “1,3-Butanediol Market Size, Share & Trends Analysis Report by Type Bio-Based, and Petro-Based). by Grade (Industrial Grade, and Cosmetic Grade). and by Application (Cosmetics, Polyester Resins, Plasticizers, Food and Beverages, and Others). Forecast Period (2024-2031).” at https://www.omrglobal.com/industry-reports/1-3-butanediol-market
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%.
Market Coverage
• The market number available for 2023-2031
• Base year: 2023
• Forecast period: 2024-2031
• Segment Covered-
o By Type
o By Grade
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive landscape include OQ Chemicals GmbH, KH Neuchem Co. Ltd, Daicel Corp., Biosynth Ltd., and Accela Chembio Co., Ltd.
Key questions addressed by the report
Global 1,3-Butanediol Market Report Segment
By Type
By Grade
By Application
Global 1,3-Butanediol Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East and Africa
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