Global 1, 4 Butanediol, 2, 3 butanediol and 1, 3 butadiene Markets are Expected to reach 2,357.3 kilo tons, 74.4 kilo tons and 14,799.3 kilo tons respectively in 2018: Transparency Market Research
Albany NY (PRWEB) November 29, 2012
The growth of global footwear market and global sports wears market is strengthening the overall market for 1,4 butanediol. However, the raw material price and the impact of using synthetic 2,3 butanediol on environment is acting as major barriers to the growth of the global 2,3 butanediol market. Owing to these concerns, the world is shifting towards the use of bio-based 2,3 butanediol, which along with providing a clean solution for producing various derivatives of synthetic 2,3 butanediol also provides cost competitiveness due to cheap raw material against their synthetic counterparts. Pioneer companies like LanzaTech and INVISTA are now planning to commercialize their operations by 2014 for producing bio-based 2,3 butanediol.
Another market which is being targeted for bio-based 2,3 butanediol include production of methyl ethyl ketones (MEK). The global market for MEK was estimated to be 1,100 kilo tons in 2010, which is expected to reach 1,488.1 kilo tons by 2018, growing at a CAGR of 4% from 2013 to 2018. In terms of revenues, the global market was estimated to be worth USD 2,080 million in 2010 and is expected to reach a market worth USD 2,929.7 million by 2018, growing at a CAGR of 4.5% from 2013 to 2018. MEK market is also led by Asia Pacific region with approximately 55.3% of the market share, followed by North America and Europe. Asia Pacific is also the fastest growing market for MEK, at a CAGR of 4.2% from 2013 to 2018. Paints and coating with approximately 57% of overall market, emerged as the biggest application market for MEK in 2011, followed by printing inks.
This research is specially designed to estimate and analyze the demand and performance of 1,4 butanediol and 2,3 butanediol in global scenario. This research provides in-depth analysis of butanediol manufacturers, trend analysis by segments and demand by geography.