Australia 1,4 Butanediol Market Outlook

australia has been in the forefront of the global 1,4 butanediol (bdo) market. this market is largely driven by the textile industry, with chemicals, resins and solvents accounting for a substantial proportion of the total demand. bdo is mostly consumed by the polymer industry for production of polyurethane polyols, thermoplastics, acrylic esters, spandex fibres and polyethylene terephthalate (pet). the dynamic growth of the australian bdo market can be attributed to increasing population and economic growth. the rising demand for bdo in the food and beverages sector has been a major driver of the market particularly in the australia. these positive fundamentals have resulted in a steady growth of the bdo market in the country. australia's pvc and textile industries are the largest users of bdo in the region and account for highest consumption in the region. with the continued expansion of both these industries, it is expected that the bdo demand will grow considerably in the next few years. on the regulatory front, the australian government has been actively promoting and supporting innovation and development of the regional bdo industry. the government has implemented various reform measures aiming at standardization, quality control and environmental safeguard. furthermore, in an effort to encourage innovation and foster product development, the government has extended funds to the industry. going forward, the australian bdo market is expected to register consistent growth over the forecast period 2018 to 2032. the expected shift towards specialty chemicals and additives, coupled with a growing need for health conscious ingredients, are likely to drive the australian bdo market. furthermore, the sustained demand from the food and beverage industry is also likely to support the bdo market and keep the market buoyant.