Global Bio-BDO Market - Segmented by Application and Region - Growth, Trends and Forecast (2018 - 2023)
The Bio-BDO market is expected to witness a moderate CAGR during the forecast period, 2018-2023. The major factors driving the market are demand from the automotive industry, combined with stringent government regulations on the usage of crude oil.
Increasing Demand from Automotive Industry
Bio-BDO is used for the manufacture of polybutylene terephthalate (PBT). PBT shows high strength, excellent thermal stability and good durability leading to its increasing usage in the automotive industry for automotive front and rear end fascia, bumpers, fenders, and spoilers. The growing automotive sector in APAC economies, like China are India, are witnessing growth in the automotive sector, thereby driving the market.
Europe - The Dominant Region
Europe accounts for the largest market share, followed by North America and Asia-Pacific, and it is expected to retain the largest share during the forecast period as well. The region is also expected to show good growth because the European Union plans to transition from a fossil-based to bio-based economy through the BIO-QED project, which focuses on bio-based butanediol (BDO) and itaconic acid (IA). Asia Pacific is expected to show good increase because of shifting production of bio-BDO toward China, owing to the easy availability of raw materials.
Major Players: BASF, BioAmber Inc, Braskem, DSM, ExxonMobil Chemicals, Mitsubishi Chemicals, and Novozymes, amongst others.
Reason to Purchase the Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating applications in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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