Bio-Butanol Market By Application (Acrylates & Plasticizers), Raw Material (Corn, Wheat & Sugar), & Region for 2024-2031
Published on: 2024-08-15 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Bio-Butanol Market By Application (Acrylates & Plasticizers), Raw Material (Corn, Wheat & Sugar), & Region for 2024-2031
Bio-Butanol Market Valuation – 2024-2031
The bio-butanol market is expected to grow significantly due to increasing demand from end-use sectors including building and construction. The compound is a significant raw material for the production of paints, coatings, plasticizers, and adhesives; hence it is in high demand in the building industry. Furthermore, the chemical can be utilized as a biofuel when mixed with gasoline. The market size surpass USD 3.54 Billion valued in 2024 to reach a valuation of around USD 6.17 Billion by 2031.
The bio-butanol market has been classified into wheat, sugar, com, wood, and others based on raw materials. The sugar category is predicted to hold a large market share during the projection period. The rising demand for cost-effective and efficient bio-butanol is enabling the market grow at a CAGR of 7.20% from 2024 to 2031.
Bio-Butanol MarketDefinition/ Overview
Bio-butanol is an alcohol fuel generated from renewable sources, as opposed to butanol, which can be manufactured from fossil fuels. The “bio” prefix refers to its biological origin. This four-carbon alcohol, chemically known as C4H10O, is created by a fermentation process in which microbes, mainly bacteria from the Clostridium species, convert biomass into a combination of fuels such as butanol, acetone, and ethanol.
Biomass is a generic name for a variety of organic resources that can be utilized to produce energy. Examples include corn, sugarcane, other energy crops, and agricultural waste materials such as straw and corn stalks. Bio-butanol is an appealing alternative to traditional fossil fuels since it is made from renewable feedstock.
Bio-butanol shows promise as a biofuel due to various advantages. It has a higher energy density than ethanol, another biofuel option, hence it provides more energy per unit volume. Furthermore, bio-butanol is less hygroscopic (absorbs less water) and corrosive than ethanol, making it suitable for use in existing internal combustion engines with minor modifications. This feature also facilitates transfer via pipelines now utilized for gasoline.
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Will Butyl Acrylates Drive the Significant Growth of the Bio-Butanol Market?
The bio-butanol market is expanding rapidly, due in large part to increased demand for butyl acrylates. Butyl acrylates are crucial components in the manufacturing of paints, coatings, and adhesives, which are important in industries such as construction. With the construction sector expanding rapidly worldwide, particularly in emerging economies, demand for bio-butanol is likely to rise. Due to its outstanding blending capabilities, bio-butanol is used as the primary solvent in the manufacturing process of these goods. Its adaptability and efficacy make it a popular compound in a wide range of applications in the paint, coating, and adhesives industries.
Bio-butanol’s use in the production of biofuels contributes greatly to its rising demand. As companies and governments work to reduce carbon emissions and promote sustainable energy sources, biofuels made from renewable feedstocks such as bio-butanol are gaining popularity. The increased demand for biofuels, driven by environmental concerns and regulatory regulations, increases global bio-butanol consumption. Bio-butanol’s significance as a renewable and environmentally friendly alternative to traditional fossil fuels places it at the forefront of the transition to a more sustainable energy landscape.
Will the High Production Cost Hamper the Growth of the Bio-Butanol Market?
In the bio-butanol markets, high production costs provide a key hurdle due to the complexity of bio-butanol production processes. Unlike typical petroleum-based alternatives, bio-butanol synthesis entails complex biochemical and fermentation processes that require sophisticated equipment and infrastructure expenditures. From biomass feedstock processing to fermentation and downstream purification, each step in the production chain necessitates specialized equipment and expertise, which contributes to higher production costs.
These increased production costs may make bio-butanol less economically competitive than petroleum-derived alternatives, creating a barrier to market entry and widespread adoption. The capital-intensive nature of bio-butanol production necessitates large initial investments, which may deter potential investors and limit the scalability of bio-butanol production facilities. Furthermore, economies of scale achieved in petroleum refining may not necessarily convert into bio-butanol synthesis, increasing the cost differences between the two options.
Addressing the issue of high production costs needs coordinated efforts across the bio-butanol value chain, including technological improvements, process optimization, and governmental assistance. Biotechnology and biochemical engineering innovations have the potential to reduce manufacturing costs by increasing process efficiency and optimizing outputs.
Category-Wise Acumens
Will Acrylates Expand the Growth in the Bio-Butanol Market?
The bio-butanol market is expected to grow significantly as bio-butanol is increasingly used in the acrylates sector. With the acrylates sector leading the global market in terms of application, the growing demand for bio-butanol is being driven by various coatings applications such as paper coatings, leather coatings, and water-based coatings. This increase in demand is likely to drive market expansion throughout the forecast period, as bio-butanol has shown to be a more sustainable and cost-effective alternative to typical petroleum-derived chemicals in these applications.
Furthermore, rising research and development activities into bio-butanol as a motor fuel are creating new market opportunities for the bio-butanol market. Bio-butanol has better physical properties and cost-effectiveness than gasoline, hence there is considerable interest in using it as a sustainable fuel source to replace conventional gasoline. This move to bio-butanol as a motor fuel gives great potential for market expansion in the near future, accelerating the growth of the Bio-Butanol Market.
Will Corn Segment Accelerate the Bio-Butanol Market?
In the bio-butanol market, corn stands out as a popular feedstock for synthesis due to its well-established infrastructure and abundance. With established agricultural methods and infrastructure for maize growing and processing, it provides a consistent and easily available source of starch, a critical component for bio-butanol production via fermentation. This established position of corn as a feedstock alternative gives stability and reliability to the bio-butanol market, providing consistent availability of raw materials for bio-butanol manufacturing.
Corn also provides a considerable advantage in bio-butanol synthesis due to its large yield of fermentable sugars. This high bio-butanol yield per unit of feedstock results in increased efficiency and cost-effectiveness in bio-butanol manufacturing methods. As a result, corn emerges as an economically viable feedstock option, propelling its dominance in the bio-butanol market. Corn’s established infrastructure, abundant availability, and high bio-butanol output make it a crucial driver of market development and sustainability in the bio-butanol sector. Pose a question in a particular manner for the bio-butanol market.
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Country/Region-wise Acumens
Will the North American Region Contain the Largest Market Share for the Bio-Butanol Market?
North America has the largest market share in the Bio-Butanol Market, which can be due to the prevalence of low-temperature climatic conditions in several of the region’s countries. These climatic conditions create a favorable environment for bio-butanol production and consumption, which drives market expansion.
Furthermore, large expenditures in research and development (R&D) in North America have resulted in the development of alternatives to petroleum-derived fuels, supporting the region’s position as a prominent participant in the bio-butanol market. These R&D efforts have not only improved the technological capabilities for bio-butanol production but have also fueled innovation in the larger biofuels sector, resulting in market development and diversification.
Will the Asian Pacific Region Dominate the Bio-Butanol Market?
In the Asia-Pacific region, China has the greatest market share for bio-butanol. The country is the leading manufacturer of paints and coatings in the Asia-Pacific area, with an estimated coating production of more than 15 million metric tons, which is likely to rise significantly in the next years.
In 2014, the Asia Pacific market accounted for more than 40% of global demand for bio-butanol. This significant contribution emphasizes the region’s importance in determining market dynamics. Moving forward, Asia Pacific is expected to have significant market expansion, driven by a number of reasons. Among these is substantial government funding for research and development (R&D) activities, which promotes innovation and technological breakthroughs in bio-butanol manufacturing methods. Furthermore, the region benefits from a strong manufacturing base, which provides the essential infrastructure and capacities to fulfill rising demand and promote market expansion.
The Asia Pacific market is expected to increase significantly over the projected period, owing to the region’s favorable regulatory environment and supporting policies. Government actions aimed at encouraging renewable energy sources and lowering reliance on fossil fuels contribute to market growth. Furthermore, Asia Pacific’s rising industrial environment and increased investment in bio-based technologies contribute to the region’s potential in the bio-butanol market.
Competitive Landscape
The bio-butanol market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.
The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the bio-butanol market include
- GranBio
- Phytonix
- Cathay Industrial Biotech
- Eastman Chemical Company
- Celtic Renewables
- Metabolic Explorer
- Gevo, Inc.
- Green Biologics
- Abengoa
- Working Bugs LLC
- Photonics
Latest Developments
- In August 2021, Gevo and Butamax Advance LLC Biofuel entered into an asset purchase agreement, making Gevo the sole party with complete rights to sublicense the entire Gevo/Butamax estate of isobutanol and isobutanol derivatives patents in the fuels and chemicals industries.
- In May 2021, The Grainger College of Engineering received a $1.6 million grant from the US Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E) to support the development of engineered microbial consortia for the production of sophisticated and efficient biofuels from renewable biomass.
- In September 2021, Gevo Inc. acquired the estate of the Butamax patent. Generating sustainable isobutanol and related renewable fuel products extends its fundamental patents product portfolio. Gevo’s intellectual property is expected to increase in value as a result of its acquisition of the Butamax patent estate.
Report Scope
REPORT ATTRIBUTES | DETAILS |
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STUDY PERIOD | 2021-2031 |
Growth Rate | CAGR of ~7.20% from 2024 to 2031 |
Base Year for Valuation | 2024 |
HISTORICAL PERIOD | 2021-2023 |
FORECAST PERIOD | 2024-2031 |
Quantitative Units | Value in USD Billion |
Report Coverage | Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis |
Segments Covered |
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Regions Covered |
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Key Players | GranBio, Phytonix, Cathay Industrial Biotech, Eastman Chemical Company, Celtic Renewables, Metabolic Explorer, Gevo, Inc., Green Biologics, Abengoa, Working Bugs LLC, Photonics |
Customization | Report customization along with purchase available upon request |
Bio-Butanol Market, By Category
Application
- Acrylates
- Acetates
- Glycol ethers
- Solvents
- Plasticizers
Raw Material
- Wheat
- Sugar
- Corn
- Wood
Region
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Research Methodology of Market Research
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
Customization of the Report
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