The global n-Butanol market size is expected to reach USD 4.27 billion by 2028 according to a new study by Polaris Market Research. The report “n-Butanol Market Share, Size, Trends, Industry Analysis Report, By End-Use (Chemical, Agriculture, Paints & Coatings, Pharmaceutical, Construction, Personal Care); By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
There has been growth in the demand for n-butanol from the chemical, automotive, and construction sectors over the years. Growing application in personal care products, increasing application in the pharmaceutical sector, and rising disposable income are some factors boosting the growth. However, the COVID-19 outbreak has negatively impacted the market for n-butanol due to operational challenges, transportation delays, and travel restrictions. The automotive and construction industries have been severely affected by the pandemic and have experienced disruption of supply chain and workforce impairment, hampering the industry.
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The applications of n-butanol include butyl carboxylates (butyl acrylate, butyl acetate, glycol ethers), specialty chemicals, lubricants, plasticizers, and others. The butyl carboxylates segment accounted for the highest share in 2020. Butyl carboxylate is a major component in a wide range of paints, adhesives, and varnishes. The growth in the construction industry is expected to drive this segment during the forecast period. Growing investment in the development of public infrastructure, coupled with increasing demand from emerging economies, are factors expected to provide numerous growth opportunities in the coming years.
Asia Pacific emerged as the largest industry in 2020 and is expected to maintain its dominance over the forecast period. Population growth, growing demand for personal care products, and rising disposable incomes drive the industry growth in the region. Rising industrialization, growth in the automotive sector, and strengthening pharmaceutical industry also support the sale of n-butanol in this region. Global players are expanding their presence and setting manufacturing units in this region due to infrastructure and labor availability.
Some major industry participants include The DOW Chemical Company, Sasol Limited, Arkema S.A., Mitsubishi Chemical Corporation, Eastman Chemical Company, Sinopec, Cobalt Technologies, BASF SE, Jiangsu Huachang Chemical Industry Company Limited, Andhra Petrochemicals Ltd., OQ Chemicals, Green Biologics Inc., PetroChina Company Limited, KH Neochem, and Ineos Group Ltd. Industry players are collaborating with each other for research and development, strengthening the market presence and technological innovation. The greater need to cater to growing customer requirements has encouraged market participants to leverage new technologies for the development of high-quality products.
Polaris Market Research has segmented the n-Butanol market report on the basis of application, end-use, and region:
n-Butanol, Application Outlook (Revenue, USD Billion, 2016 – 2028)
- Butyl Carboxylates (Butyl Acrylate, Butyl Acetate, Glycol Ethers)
- Specialty Chemicals
n-Butanol, End-Use Outlook (Revenue, USD Billion, 2016 – 2028)
- Paints and Coatings
- Personal Care
n-Butanol, Regional Outlook (Revenue, USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa