The global n-butanol market is expected to witness significant growth over the forecast period in light of increasing demand in various sectors including coatings, paints, adhesives, sealants, inks and solvent products in various countries including China, India, Mexico, Saudi Arabia, Germany, and the U.S. Rising consumption in food & beverage sector as artificial flavor owing to high demand for fruit, butter, cream, rum, ice cream and ices, candy, whiskey, baked goods and cordials will increase market size over the next seven years.
Growing consumption of n-butanol in butyl acrylate, butyl acetate, glycol ethers, direct solvent and plasticizers owing to high demand in marine coatings, automotive coatings, engineering plastics, super absorbent polymers, and adhesives is expected to augment n-butanol industry growth over the forecast period. Rising usage in various segments including pharmaceuticals, herbicide esters, polymers, pyroxylin plastics, and printing will fuel n-butanol market penetration in the near future. In addition, high usage as a reactant and diluents to manufacture melamine-formaldehyde and urea-formaldehyde resins are expected to create immense growth potential over the upcoming years.
Rapid industrialization along with rising disposable income is expected to increase consumption of paints, coatings, varnishes, resins, and dyes which in turn will augment n-butanol market demand. Increasing investment by various major players in countries including India, China, Malaysia, Sweden, Taiwan, Saudi Arabia, and South Africa is expected to propel industry growth. However, fluctuation in raw material prices including propylene and syngas along with environment regulations pertaining to n-butanol is expected to restrict industry growth over the next seven years. However, technological advancements along with product innovation to develop bio-butanol will open new market avenues over the next seven years.
Asia Pacific was the dominant market, accounted for over 40% of the global volume and is expected to witness significant growth over the forecast period majorly due to high consumption of n-butanol in China. China is expected to witness high growth as a result of rising demand for butyl acrylate in automotive paints and water-based coatings. In addition, growing various end-use industries including pharmaceuticals, paints & coatings, textiles, food & beverages and automotive in China, India and Indonesia will serve as key driver for industry expansion over the forecast period. Furthermore, high demand in personal care sector as it is used as ingredient in perfumes and as a solvent for the extraction of essential oils will propel n-butanol industry over the next seven years.
Europe will grow at a slow pace as various players of n-butanol are shifting their focus to developing economies of Asia Pacific owing to immense growth potential in the region. North America will show significant industry expansion in light of mounting personal care, textile and medical sector in the region. In addition, accelerating demand for butyl acrylate and glycol ether coupled with low prices of shale gas will stimulate industry expansion. MEA is expected to show high rise in light of growing investments of butyl acrylate, butyl acetate, and glycol ethers manufacturing facilities mainly in Saudi Arabia. In addition, easy availability of raw materials along with increasing government support in MEA will open new opportunities over the forecast period.
The n-butanol market is highly competitive in nature with various key players including The Dow Chemical Company, BASF SE, OXEA GmbH, Sasol Ltd, Grupa Azoty, Mitsubishi Chemical Corporation, KH Neochem Co Ltd, BASF-PETRONAS Chemicals Sdn. Bhd., Sinopec, Eastman Chemical Company, China National Petroleum Corporation (CNPC), Cobalt Technologies, Formosa Plastics Corp, INEOS Oxide Ltd, Perstorp Holding AB, and Saudi Kayan Petrochemical Company.
BASF offers clear, mobile, miscible n-butanol having applications in coatings, printing inks, antibiotics, plasticizers, additives in polishes, solubilizer in textiles, additives in gasoline, and feedstock for production of glycol ethers.
Cobalt Technologies has developed several technological innovations to produce bio butanol in order to reduce 30%-60% production costs and radically lower carbon impact compared to petroleum-derived butanol, which find applications in various chemicals and fuels, including 1-butene, butadiene, lube oil, and poly-alpha-olefins.
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
Demand across the organic chemicals sector shall register a slump in growth albeit increasing demand for certain chemicals that find end applications in healthcare and food. Furthermore, China, a major supplier of chemicals to the world, registered a considerable decline in manufacturing in the first quarter of 2020, following the trajectory unfolded by COVID-19's escalation to a pandemic. This has led to an imbalance in supply-demand dynamics, forcing manufacturers and customers alike to renegotiate supply agreements. The report will account for Covid19 as a key market contributor.