N-Butanol Market to be Dominated by Electronic & Electricals Segment Through 2028
Growing demand from end user
industries such as paints & coatings, chemical and petrochemical, textile,
agriculture, building & construction, pharmaceutical, and personal care are expected to drive the demand for the N-Butanol
market in the forecast period 2024-2028.
According to TechSci Research
report, “Global N-Butanol Market-
By Region, Competition Forecast and Opportunities, 2018-2028F”, global n-Butanol market
is projected to grow at an impressive rate in the forecast period 2024-2028. N-Butanol
is a primary alcohol that is used as a solvent, fuel, ingredient in lacquers,
and intermediate in the production of butyl rubber. Growing uses of n- Butanol
is an extremely viable renewable biofuel for usage in internal combustion
engines which is expected to significantly increase the demand for n-Butanol,
thereby driving the growth of global N-butanol market. Properties of butanol,
such as higher energy content and lower Reid vapor pressure, makes it a more
effective biofuel than conventional gasoline, diesel fuel, and other broadly
used biofuels like methanol, ethanol, and biodiesel.
Growing use of n-butanol
for coating applications across different end user industries such as
automotive, furniture, aerospace, marine, among others. Coatings based on
n-butanol provide protection to equipment and structure across different
industries. Apart from providing aesthetic qualities coatings based on
n-butanol provide resistance to corrosion, fire, microbes, wear & slip,
among others.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global N-Butanol Market"
Adverse effects on
humans and fluctuating cost of raw materials are major impede for n-Butanol
market growth. Exposure to n-Butyl alcohol can be responsible for dizziness,
headache, nausea, and vomiting. High concentrations of exposure may cause
instability and might lead to an abnormal heartbeat. Besides these, China is a
major importer of n-Butanol, with a value of USD 183 million in 2020, owing to
its large manufacturing unit. Hence, sanctions, trade wars, and pandemic
lockdowns may fluctuate the cost price of raw material. Therefore, the factors
mentioned above are expected to hinder the n-Butanol market growth.
Global n-Butanol
market is segmented based on grade and application:
Based on grade,
the market is divided into industrial grade v/s pharmaceutical grade. Industrial
grade is expected to hold the largest market share in the forecast period 2024-2028.
Due to rising demand from different end user application areas, especially
construction and automotive industry for coating applications. The flourishing construction
and automotive sectors in countries such as China, India, Japan, and Germany are
further increasing the growth of industrial grade n-butanol.
Based on
application, the market is divided into butyl acetate, butyl acrylate, glycol
ethers, direct solvent, plasticizers, and others. Butyl acrylate is expected to
hold the largest market share in the forecast period, 2024-2028. Owing to the high
glass transition temperature, it is one of most demanded butyl
carboxylate-based product. It is used in paint and coating and construction
sector to provide water resistance properties, thus dominating the segment.
Major
companies operating in global n-Butanol market are:
- Mitsubishi
Chemical Corporation
- Dow Chemical
Company
- BASF SE
- OXEA GmbH
- Sasol Ltd
- KH Neochem Co Ltd
- China National
Petroleum Corporation (CNPC)
- INEOS Oxide Ltd
- Perstorp Holding
AB
- Saudi Kayan
Petrochemical Company
Various companies
operating in the market are following strategies such as mergers &
acquisitions, product launches, new capacity launches, expansion, among others
to stay competitive and have an edge over other players operating in the
market. For instance, in September 2022, Johnson Matthey Plc. and Dow Chemical
Company announced that Anqing Shuguang Petrochemical Oxo Co., Ltd. had licensed
LP Oxo Technology to produce around 200,000 tons annually of 2-ethyl hexanol
and 25,000 tons annually of iso-butyraldehyde. This license helps Johnson
Matthey Plc. and Dow Chemical Company to enhance production and expand Anqing’s
oxo business in the development of oxo alcohols market.
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"Demand for N-Butanol is
anticipated to grow worldwide in the upcoming year due to its diverse usage,
desired characteristics, and cost-effectiveness. Technological improvements
such as the development of eco-friendly butanol, collaboration, and acquisition
of dependent industries are other decisions influencing the market's growth.
Government initiatives to uplift food and textile industries, a trade agreement
between countries, and the formation of trade groups are market propelling
factors. All the factors mentioned above are expected to influence market
growth and create favorable conditions to boost the Bio adhesives market growth
till 2028.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“N-Butanol Market- Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Grade
(Industrial Grade v/s Pharmaceutical Grade), By Application (Butyl Acetate,
Butyl Acrylate, Glycol Ethers, Direct Solvent, Plasticizers, and Others), By
Region and Competition has evaluated the future growth
potential of global N-Butanol 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
global N-Butanol market.”
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