n-Butanol Market Size, Share to Grow at a CAGR of 5.51% by 2032 | ChemAnalyst
Global n-Butanol market witnessed a strong demand in the past years and is anticipated to achieve a healthy CAGR of 5.51% during the forecast period till 2032.
According to ChemAnalyst report, “Global n-Butanol Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032” Global n-Butanol market witnessed a strong demand in the past years and is anticipated to achieve a healthy CAGR of 5.51% during the forecast period till 2032 owing to its application in the Solvent, Plasticizer, and Coating end-use industries.
n-Butanol is a colorless liquid with chemical formula C₄H₉OH. It is a versatile component that is widely used as a primary ingredient in various industries. On the industrial level, n-Butanol is produced by the oxo process. With the help of a catalyst (cobalt hydrocarbonyls), carbon monoxide and hydrogen are added to the carbon double bond of propylene in the liquid phase to produce 1-butanol as the major product and isobutanol as the minor product. n-butanol is used as a solvent for paint, varnishes, resins, gums, vegetable oils, dyes, and alkaloids as well as natural and synthetic resins. Other applications include coating cloth in the textiles sector, using it as a cleaner or polisher, in gasoline and brake fluid, and in consumer goods like beauty, nail care, hygiene, and grooming items. The substance is used as an artificial flavoring in a variety of foods and beverages. In the production of hop extract for brewing beer, for example, it is also utilized in food preparation.
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The primary market driver of the global n-Butanol market is the solvent industry. Coatings, paints, acrylics, oils, lubricants, waxes, rubber, and plasticizers can all be dissolved in n-butanol as a solvent owing to its superior quality and durability which propels the n-Butanol market. The demand for paints and coatings is expected to increase due to the construction projects and infrastructure development around the world, which will most likely cause the n-butanol market to expand in the projected period. Also, the demand of paints, varnishes, and coatings by the automobile sector also contributes finely to the market.
The global n-Butanol market is segmented based on end-use, sales channel, and region. Based on region, Asia Pacific is dominating the n-Butanol market. Additionally, Asia Pacific region is perceived to lead the global market for n-Butanol in the forecast period owing to the growing use of n-Butanol as a solvent in paints, coatings, and adhesives in end-use industries such as automotive, building & construction sector. Moreover, over 114.06 lakh residences have been sanctioned in India under the Pradhan Mantri Awas Yojna-Urban (PMAY-U) programme of the Indian government's Make in India initiative, which is another factor that contributes to the n-butanol market expansion.
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Based on the end-use, the global n-Butanol market is segregated into Solvent, Plasticizer, Coating, and others. Among these industries, the Solvent industry is dominating the n-butanol market and accounted a market share of approximately 40% in 2021. This industry is anticipated to dominate the global n-Butanol market owing to growing demand paints and coatings by multiple downstream -industries like automobile, glass, metal and more owing to the fast-paced industrialization across the globe.
According to ChemAnalyst report, “Global n-Butanol Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032”, Major players for n-Butanol globally are OQ Chemicals, The Dow Chemical Company, Sasol Limited, INEOS Group Limited, BASF SE, Formosa Plastics Corporation, PetroChina Company Limited, Yancon Cathay Coal Chemicals Co. Ltd., Shandong Haulu Hengsheng chemical, Luxi Chemical Group Co., Ltd., Lihuayi Weiyuan Chemical Co., Ltd., and Eastman Chemical Company.
“n-Butanol is a versatile chemical with high solubility in alcohols, ethers, glycols, and hydrocarbons due to which it is employed as a solvent in paints, coatings, resins, gums, vegetable oils, dyes, and alkaloids. Its high demand from paints and coatings with applications in various industries such as Automotive and Construction industry is likely to drive the market growth in the forthcoming years. Asia Pacific is the biggest consumer of n-Butanol. With growth in construction projects in developing countries such as India and China, the demand of paints, coatings, inks, varnishes and adhesives are anticipated to swell up the N-Butanol market in the forecast period till 2032.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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