According to the new market research report "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", 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%.
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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 estimated to be the largest n-Butanol market during the forecast period. The growth of the market in this region is primarily attributed to the rapidly growing population, urbanization, and industrialization. The presence of emerging economies with high growth potential, availability of cheap labor, the rapid expansion of infrastructure, and increasing foreign investments are driving the market in the region.
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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.
Wide applications of n-Butanol in various end-use industries are expected to create opportunities for manufacturers during the forecast period. The key players in the n-Butanol market 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 n-Butanol market report analyzes the key growth strategies, such as merger & acquisitions, and joint venture by the leading market players between 2017 and 2020.
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The DOW Chemical Company (US) is one of the leading players in n-Butanol market. In February 2020, The company majorly focuses on joint venture strategy. The company and Johnson Matthey (UK) announced that a China-based company, Guangxi Huayi New Material Company (China), has selected LP SELECTOR 10 technology to produce butanol at a new manufacturing facility. The plant was built at Huayi's integrated petrochemical complex in Qinzhou Port, China, with an annual butanol capacity of 300,000 metric tons.
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Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/n-butanol-market.asp