DUBLIN--(BUSINESS WIRE)--The "n-Butanol Market by Application (Butyl Acrylate, Butyl Acetate, Glycol Ethers, Direct Solvents, Plasticizers), and Region (APAC, North America, Europe, Middle East & Africa, South America) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global n-Butanol market size is estimated at USD 3.1 billion in 2020 and is projected to reach USD 4.0 billion by 2025, at a CAGR of 5.0%.
The global market is largely driven by the increased infrastructural and construction industries. Moreover, the global production of n-Butanol is expected to increase owing to the rising demand for coating from end-use industries. However, fluctuating raw material prices and their scarcity in the future and potential health and environmental hazards associated with solvent-based systems are hampering the demand for n-Butanol.
Butyl Acrylate application segment to capture highest share in n-Butanol market during the forecast period.
Butyl acrylate is the largest application of n-Butanol owing to its increasing use in the composition of various copolymers. These copolymers are used in applications such as resins and dispersions for paints, aqueous dispersions for fabrics, varnishes, inks, glues, and adhesives. They can also be used in the production of textile & paper and the synthesis of plastics and other chemicals.
Therefore, the increasing growth of paints & coatings, adhesives, textile, plastic, paper, and other industries also drives the consumption of butyl acrylate. Hence, the growing construction activities and infrastructural development owing to the increasing disposable income and a better standard of living of consumers in emerging economies play a pivotal role in the growth of the butyl acrylate application and, in turn, boost the demand for n-butanol.
APAC is the largest n-Butanol market during the forecast period.
APAC is the largest market, in terms of value, of the overall market in 2019. The market growth is primarily attributed to the growing population; increasing demand for n-butanol in the formulation of butyl acrylate, butyl acetate, glycol ethers, and plasticizers; and its use as a direct solvent.
The market growth in this region is also attributed to higher growth prospects of n-butanol in the automotive application. The growth in industries such as construction, pharmaceuticals, textile, paints & coatings, and automotive in APAC is also driving the demand for n-butanol in this region.
Automotive production in China, India, Japan, Malaysia, and South Korea accounted for more than 50% of the vehicle production in APAC. Apart from these, continuous infrastructural development in these countries would boost the demand for n-butanol in the region..
Between 2019 and 2020, the n-Butanol market witnessed a low growth rate due to COVID-19 and the consequent complete lockdown worldwide. This has led to a decrease in the demand for fuels globally, leading to reduced production in oil refineries. Therefore, in 2020, the n-Butanol market is expected to witness a dip.
The report profiles several leading players of the n-Butanol market, such BASF (Germany), The DOW Chemical Company (US), Eastman (US), OQ Chemicals (Germany), SASOL (South Africa), BASF PETRONAS (Malaysia), PetroChina (China), Mitsubishi Chemical Company (Japan), SINOPEC (China), and KH Neochem (Japan).
The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the n-Butanol market.
Premium Insights
- Growing Demand for Sustainable and Efficient Coating Systems to Drive the Market
- Butyl Acrylate to be the Largest Application from 2020 to 2025
- India to Record the Highest CAGR During the Forecast Period
- Butyl Acrylate Segment and China Accounted for the Largest Shares
Market Dynamics
Drivers
- Increased Infrastructural and Construction Activities
- Rising Demand for Coatings from End-Use Industries
Restraints
- Fluctuating Raw Material Prices and Their Scarcity in Future
- Potential Health Hazards and Environmental Concerns with Solvent-Based Systems
- Harmful Effects of Solvent-Based Systems
Opportunities
- Emerging Trends in Bio-Derived Butanol
Challenges
- Stringent Regulations and Restrictions
- Low Economy of Scale for Small Capacity Plants
Technology Analysis
- New Technologies - n-Butanol
Patent Analysis
- Methodology
- Document Type
- Insights
- Top Applicants
- List of Patents by Intermune Inc.
- List of Patents by Abengoa Bioenergia Nuevas Tecnologias Sa
- List of Patents by Metabolic Explorer Sa.
- List of Patents by Intrexon Corp.
- List of Patents by Ifp Energies Nouvelles
- List of Patents by Polimeri Europa S.P.A
Companies Mentioned
- Andhra Petrochemicals
- Anhui Shugang Chemicals
- Azoty Zak Spolka Akcyjna
- BASF
- BASF Petronas Chemicals
- Cobalt Technologies
- Eastman
- Elekeiroz
- Green Biologics
- Ineos
- Jiangsu Huachang
- KH Neochem
- Lihuayi Group
- Luxi Chemical
- Mitsubishi Chemical Company
- Optima Chemical
- OQ Chemicals
- Petrochina
- Sasol
- Saudi Kayan
- Shandong Hualu Hengsheng Chemical
- Sinopec
- Texmark
- The Dow Chemical Company
- Wanhua Chemicals
For more information about this report visit https://www.researchandmarkets.com/r/gdl6g0
