Vietnam 1,4 Butanediol Market to Grow with a CAGR of 7.45% through 2030
Growing automotive production in
Vietnam, combined with the rise in industrial activities is expected to drive
the Vietnam 1,4 Butanediol Market growth in the forecast period, 2026-2030.
According to TechSci Research report, “Vietnam 1,4
Butanediol Market –– By Region, Competition, Forecast and Opportunities, 2030F”,
the Vietnam 1,4 Butanediol Market stood at USD 66.45 Million in 2024 and is
expected to reach USD 102.51 Million by 2030 with a CAGR of 7.45% during the
forecast period.
The Vietnam 1,4
Butanediol (BDO) market is experiencing a dynamic and evolving landscape,
driven by a combination of industrial growth, increased demand for
high-performance materials, and a rising focus on sustainability. 1,4
Butanediol is a versatile chemical compound with a wide range of applications,
including in the production of plastics, textiles, automotive parts,
electronics, and pharmaceuticals. Vietnam, as one of the fastest-growing
economies in Southeast Asia, has seen a steady increase in the demand for 1,4
Butanediol due to the expansion of key industries such as automotive, textiles,
electronics, and chemicals.
The market’s
growth is significantly influenced by the demand for derivatives of 1,4
Butanediol, particularly in the production of Polyurethanes (PU),
Tetrahydrofuran (THF), Polybutylene Terephthalate (PBT), and
Gamma-Butyrolactone (GBL). Polyurethanes, which are derived from 1,4
Butanediol, are heavily used in the automotive industry for the production of
lightweight, durable, and energy-efficient parts. As the automotive sector in
Vietnam continues to expand, particularly with the growing focus on electric
vehicles (EVs) and fuel-efficient designs, the demand for polyurethanes is
expected to increase. This, in turn, is driving the need for 1,4 Butanediol,
especially in producing automotive components like seating, insulation, and
body panels.
The textile
industry is another key driver of the Vietnam 1,4 Butanediol market. Vietnam is
one of the largest textile and garment exporters in the world, and the demand
for high-quality fabrics continues to rise. 1,4 Butanediol is used in the
production of spandex, a highly elastic material essential for the production
of activewear, sportswear, and other stretch fabrics. The rising global demand
for comfortable, functional, and performance-driven apparel is boosting the
need for 1,4 Butanediol in the textile sector. The growing emphasis on
sustainable and eco-friendly textiles further enhances the demand for bio-based
1,4 Butanediol, produced from renewable feedstocks, aligning with global trends
towards sustainable fashion.
As Vietnam’s
electronics industry grows, the demand for advanced materials like 1,4
Butanediol is also rising. 1,4 Butanediol is utilized in the production of
components such as plasticizers and coatings, which are essential in consumer
electronics like smartphones, computers, and wearables. The electronics market
in Vietnam has expanded rapidly, with the country becoming a manufacturing hub
for global tech giants. This growing demand for consumer electronics, along
with the drive for smaller, more flexible devices, is expected to boost the
demand for 1,4 Butanediol-based components.
Vietnam’s
strategic location in Southeast Asia and its active participation in global
trade agreements, such as the Comprehensive and Progressive Agreement for
Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement
(EVFTA), have further stimulated market growth. These agreements open up new
avenues for Vietnamese manufacturers to export 1,4 Butanediol-derived products
to international markets, strengthening the country’s position in the global
supply chain. The presence of well-established shipping ports in Southern
Vietnam, particularly around Ho Chi Minh City, has solidified the region’s role
as a key export hub for 1,4 Butanediol. However, the Vietnam 1,4 Butanediol
market faces several challenges that may impact its growth. One of the most
significant is the country’s dependence on imported raw materials, particularly
petrochemical feedstocks. Vietnam’s chemical industry still relies heavily on
imported raw materials for the production of 1,4 Butanediol, and fluctuations
in global raw material prices, particularly crude oil, can lead to price
volatility and supply chain disruptions. This reliance on imports not only
increases production costs but also exposes the market to global supply chain
risks.
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The Vietnam 1,4 Butanediol Market is segmented into application,
regional distribution, and company.
Based on application, Tetrahydrofuran (THF) is the
second most dominating derivative of 1,4 Butanediol (BDO) in the Vietnam 1,4
Butanediol market. THF, a highly versatile solvent and intermediate, plays a
significant role in various industries such as chemicals, pharmaceuticals, and
polymers, driving the demand for 1,4 Butanediol in the country. Vietnam, with
its growing industrial base and expanding chemical sector, has seen increasing
demand for THF, which is produced primarily from 1,4 Butanediol. The demand for
THF in Vietnam is particularly influenced by its applications in the production
of synthetic polymers, coatings, and as a solvent in chemical reactions.
In the chemical industry, THF is used as a solvent in
the production of coatings, adhesives, and paints, which are essential to
industries like construction, automotive, and electronics. Vietnam’s
construction industry, in particular, has experienced significant growth, and
with it, the demand for coatings and adhesives has surged. THF’s ability to
dissolve a wide range of substances and its low toxicity make it an attractive
option for these applications. As the country’s infrastructure development continues
to expand, the use of THF in construction materials and coatings is expected to
rise, thus bolstering the demand for 1,4 Butanediol as a precursor. THF is
crucial in the production of polyurethane, which is used in a variety of
applications, including automotive parts, insulation, and textiles. As the
automotive and textile industries continue to thrive in Vietnam, the need for
THF, and consequently 1,4 Butanediol, grows. Vietnam’s expanding automotive
market, particularly with a shift toward electric vehicles (EVs), is driving
the demand for lighter, more efficient materials like polyurethane, which are
derived from THF.
Based on region, Northern Vietnam is the second most
dominant region in the Vietnam 1,4 Butanediol market, following Southern
Vietnam, which is the primary hub for industrial activities. Northern Vietnam,
with its economic growth and strategic positioning, plays a crucial role in the
market dynamics, although it is not as dominant as the South. The key driver of
the region's position in the 1,4 Butanediol market lies in its growing
industrial base, particularly in sectors such as chemicals, textiles, and automotive,
which are increasingly driving demand for 1,4 Butanediol and its derivatives. Hanoi,
the capital, and nearby provinces like Hai Phong and Quang Ninh are home to
several industrial zones focused on chemical production, manufacturing, and
processing. While the southern region has a more extensive chemical
manufacturing infrastructure, Northern Vietnam has seen increasing investments
in the chemical sector, with local and international companies setting up
production facilities. These manufacturing units are increasingly relying on
1,4 Butanediol for producing Polyurethanes (PU), Tetrahydrofuran (THF), and
other derivatives used in various products, from automotive components to
textiles. The region's expanding industrial capacity supports growing demand
for 1,4 Butanediol, making Northern Vietnam an important player in the market.
Major companies
operating in the Vietnam 1,4 Butanediol Market are:
- Evonik Vietnam LLC
- Vina MC Infonics Co., Ltd. (Mitsubishi Chemical Corporation)
- LyondellBasell Vietnam Company Limited
- Dow Chemical Vietnam LLC
- Mapei Vietnam Ltd.
- HUD Vietnam Co., Ltd.
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“The future of
the Vietnam 1,4 Butanediol market looks promising, driven by strong industrial
growth, increasing demand for sustainable solutions, and expanding sectors such
as automotive, textiles, and chemicals. With Vietnam's growing manufacturing
base, particularly in industries relying on 1,4 Butanediol derivatives like
polyurethanes and spandex, the demand for 1,4 Butanediol is expected to rise
steadily. The automotive sector's shift towards lightweight and
energy-efficient materials, including those derived from 1,4 Butanediol, will
further propel market growth. The increasing emphasis on eco-friendly and
bio-based alternatives presents an opportunity for innovation in 1,4 Butanediol
production, particularly as the country adopts more sustainable manufacturing
practices. As the government continues to support industrial development and
sustainability initiatives, Vietnam’s 1,4 Butanediol market is set to grow in
both domestic and export markets. The evolving industrial landscape, coupled
with growing demand across multiple sectors, will likely position Vietnam as a
key player in the regional 1,4 Butanediol market in the coming years.,” said
Mr. Karan Chechi, Research Director, TechSci Research, a research-based
management consulting firm.
“Vietnam
1,4 Butanediol Market By Application (Tetrahydrofuran (THF), Polybutylene
Terephthalate (PBT), Gamma-Butyrolactone (GBL), Polyurethane (PU), and Others),
By Region,
By Competition, Forecast and
Opportunities, 2020-2030F”, has evaluated
the future growth potential of Vietnam 1,4 Butanediol Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision-makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Vietnam 1,4 Butanediol Market.
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