N-butanol Market:
Introduction
Transparency Market Research delivers key insights on the global N-butanol market.
In terms of revenue, the global N-butanol market is estimated to expand at a
CAGR of 6.1% during
the forecast period, owing to numerous factors, regarding which TMR offers
thorough insights and forecasts in its report on the global N-butanol market.
The global N-butanol market is broadly affected by several factors,
including usage of N-butanol in paints & coatings applications. Increase in
applications of N-butanol in the building & construction sector is
propelling the global N-butanol market.
N-butanol Market: Dynamics
The increase in the demand for butyl acrylate in the building &
construction industry is expected to boost the global N-butanol market during
the forecast period. The expansion of the building & construction industry
in India and China is anticipated to boost the consumption of N-butanol during
the forecast period.
The usage of N-butanol is increasing in butyl carboxylate and direct
solvent applications, owing to its solubility and changing customer and
regulatory requirements. This is expected to boost the demand for N-butanol.
Key attributes such as excellent reactivity as an intermediate, ready
biodegradability, and solubility in almost all organic solvents have further
propelled the demand for N-butanol in the production of butyl acetate, an
active industrial solvent.
The paints & coatings industry is likely to be driven by the increase
in consumption of paints and coatings in construction, automotive, and general
industries. The rise in the application of paints and coatings across the globe
is anticipated to boost the consumption of N-butanol.
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N-butanol Market: Prominent Regions
Asia Pacific is a highly lucrative region of the global N-butanol market.
N-butanol is used in the production of paints & coatings, adhesives &
sealants, plastic additives, and various other products, especially in Asia
Pacific. Increase in production of paints and coatings and growth of the
building & construction sector are anticipated to drive the N-butanol
market in Asia Pacific.
North America is also estimated to be a highly attractive region of the
global N-butanol market. The market in the region is expected to expand at a
considerable CAGR during the forecast period due to high demand for N-butanol
in automotive, paints & coatings, adhesives & sealants, and plastic
additives industries in the region.
Construction and automotive industries in Europe are expanding at a rapid
pace. This is increasing the demand for paints and coatings, adhesives,
plastic, rubber, etc. In turn, this is projected to boost the demand for
N-butanol in the region.
N-butanol is a preferred choice of material for a wide range of
water-based coating formulations and adhesive & sealant applications, owing
to the high color stability, softness, flexibility, and high adhesion strength
of various N-butanol based products. The increase in the demand for N-butanol
in these applications is expected to boost the market in Europe in the near
future.
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N-butanol Market: Key Players
The global N-butanol market is consolidated with the presence of a few
large players. Key players operating in the global N-butanol market are Eastman
Chemical Company, Mitsubishi Chemical Corporation, SABIC, Dow, GALAXY
CHEMICALS, KH Chemicals, Solventis, KH Neochem Co., Ltd., and OQ Chemicals
GmbH.
The Butyl Acrylate
market has been undergoing some remarkable growth dynamics, shaped increasingly
by digital technologies and environmental sustainability concerns of product
development. Over the decades, the feedstock variability and the onslaught of
cheaper substitutes have squeezed in profit margins of the chemical and
materials sector. On the other hand, the value chain of several businesses in
the Butyl Acrylate market has undergone overhaul, increasingly rendering some
aspiring players with greater control over the forces and demand. The
penetration of Industry 4.0 in in the market has stirred game-changing trends
for range of stakeholders in the overall chemicals and materials sector.
Manufacturing and production environments of businesses in the Butyl Acrylate
market are keen on formulating and implementing strategic frameworks that will
turn them into digital enterprises.
