The global market for 1,4 butanediol derivatives has been valued at $7,228.48 million in 2022 and is expected to exhibit a Compound Annual Growth Rate (CAGR) of 4.1% over the forecast period. These derivatives, including polybutylene terephthalate (PBT) and thermoplastic polyurethanes (TPUs), are extensively utilized in the plastics and polymer industry for various applications.
1,4 butanediol derivatives play a crucial role in the manufacturing of automotive parts, electrical components, packaging materials, and more within the plastics and polymer industry. The growth of sectors like automotive and electronics, which heavily rely on these polymers, is a significant driver of the demand for 1,4 butanediol derivatives.
Moreover, these derivatives serve as vital solvents and chemical intermediates in diverse chemical processes, including the production of coatings, adhesives, sealants, and specialty chemicals. The chemical industry's need for these materials further bolsters the demand for 1,4 butanediol derivatives.