N-Butanol Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, 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
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationN-Butanol Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, 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
Global N-butanol market is anticipated to increase at an impressive rate through 2028. N-Butanol is an alcohol manufactured by processing petrochemical or fermentation of sugars obtained from corn and is also known as 1 butanol or butyl alcohol. It is a primary alcohol having a colorless liquid of standard volatility and fruit-like odor. Due to its characteristic, n-Butanol is used as a raw material for paint and coating resins, butyl carboxylates such as butyl acrylate, butyl acetate, and glycol ethers.
Growing demand for N-butanol from various end user industries such as paints & coatings, chemical and petrochemical, textile, agriculture, building & construction, pharmaceutical, and personal care for their application is expected to drive the growth of global N-butanol market. Apart from these, growing use of N-butanol as raw materials in different products like fuels, green buildings, and others further increase the demand for N-butanol, thereby driving the market growth. According to reports, butyl alcohol was the world's 2563rd most traded product worldwide in 2020, which holds 0.003% of world trade. Furthermore, government policies over trade, such as free trade agreements, bilateral agreements, and regional group trade agreements, promote the import and export of raw materials that propel market growth. Thus, it is expected that the global n-Butanol market is going to rise in the projected year.
Rising Demand from Pharmaceutical Sector is Driving the Market Growth
Growing demand for the applications of butyl alcohol, such as butyl acrylate and glycol ethers, is expected to propel the demand for n-Butanol. Butyl acrylates are widely used in pharmaceutical grade for artificial eyes, dentures, and surgical prostheses. Owing to its characteristics, it is commonly used in manufacturing pharmaceuticals, in microscopy for preparing paraffin embedding materials, and in veterinary medicine as a bactericide. According to studies, 15 % of total deaths in lower-middle-income countries happen because of inadequate quality treatment and medical care. Hence, to improve the healthcare situation, the demand for different medical and surgical products is going to upsurge as government efforts increase to improve the situation. Therefore, it is expected that the demand for n-Butanol is going to rise in the forecast period of 2028.
Growing Demand for Industrial Applications is Going to Propel the Market Growth
N-Butanol is primarily used as an industrial intermediary that is used to make different products like dyes, lacquers, resins, and varnishes. The broad melting and boiling points of N-butanol make it useful for the production of chemicals which are required to cool down entire machinery. Butyl alcohol is used to make rubber cement, safety glass, rayon, photographic film, motion picture, water resistance cloth, artificial leather, and raincoats. Moreover, it has wide application in agriculture for the production of herbicides and other essential agrochemicals. According to the report, the world trade of n-Butanol was amounted to around USD 550 million by value in 2020. In food industries, n-Butanol is used as a dehydrating agent in perfumes and fruit essences and as a flavoring agent in foods and beverages. Hence, owing to its broad application in every end-user industry, it is expected that demand for n-Butanol is going to increase in the projected period.
Increasing Demand for Eco-Friendly Butanol to Drive the Market Growth
Growing demand for green fuel worldwide in order to achieve sustainability goals and ensure optimum and reasonable use of the resources. Owing to n-butanol characteristics, it is a more environmentally friendly, cleaner-burning alternative that can be employed in diesel engines without alteration. Moreover, it can help by reducing greenhouse gas emissions by 86%. Therefore, n-Butanol helps in reducing pollution and helps people to achieve sustainable development. It is expected that there will be a lucrative market for n-Butanol in the future as a fuel.
Recent Development
In September 2020, researchers discovered an implementation of a novel process for n-butanol production through 2-oxoglutarate. Through this research, they explain that enumeration algorithms can become extensive in the spectrum of butanol manufacturing ways.
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Market Segmentation
Global N-Butanol market is based on grade and application. Based on grade, the market is divided into industrial grade v/s pharmaceutical grade. Based on application, the market is divided into butyl acetate, butyl acrylate, glycol ethers, direct solvent, plasticizers, and others.
Market Players
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, and Saudi Kayan Petrochemical Company are the key players operating in the global N-butanol market
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Attribute |
Details |
|
Base Year |
2022 |
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Historic Data |
2018 – 2022 |
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Estimated Year |
2023 |
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Forecast Period |
2024 – 2028 |
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Quantitative Units |
Revenue in USD Million, Volume in tons and
CAGR for 2018-2022 and 2023-2028 |
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Report coverage |
Revenue
forecast, Volume forecast, company share, competitive landscape, growth
factors, and trends |
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Segments covered |
Grade Application |
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Regional scope |
North America;
Asia Pacific; Europe & CIS; South America; Middle East & Africa |
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Country scope |
United States; Mexico; Canada; France; Germany;
United Kingdom; Italy; Spain; China; India; South Korea; Japan; Australia; Brazil;
Argentina; Colombia; South Africa; Saudi Arabia; UAE. |
|
Key companies
profiled |
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. |
|
Customization scope |
10% free report customization with
purchase. Addition or alteration to country, regional & segment scope. |
|
Pricing and
purchase options |
Avail
customized purchase options to meet your exact research needs. Explore purchase options |
|
Delivery Format |
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request) |
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