The n-Butanol Market is projected to grow from USD 4.2 billion in 2017 to USD 5.6 billion by 2022, at a compound annual growth rate (CAGR) of 5.9% during the forecast period.
Browse 73 market data Tables and 34 Figures spread through 108 Pages and in-depth TOC on “n-Butanol Market – Global Forecast to 2022”, Increasing demand from a wide range of applications such as latex paint formulations in industrial & architectural activities, enamels, textiles, and paper finishes is driving the market.
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The direct solvents application is expected to register the highest CAGR in the n-Butanol market during the forecast period.
The direct solvents segment is the fastest-growing application of n-Butanol. The use of n-Butanol as a solvent helps in improving the brushability of paints and coats. n-Butanol is used in various aqueous systems as it is moderately soluble and compatible with several resin formulations. This is expected to enhance the use of n-Butanol in paints, varnishes coatings, resins, dyes, vegetable oils, camphor, fats, waxes, rubbers, shellac, and alkaloids, thereby fueling the market in the direct solvents segment.
Asia Pacific is estimated to hold the largest share in the n-Butanol market, in terms of both value and volume.
Numerous factors establish the potential of Asia Pacific to be the largest n-Butanol market in the next five years. The region has a large & robust industrial base for all the application segments such as glycol ether and direct solvents. Additionally, the emerging economies in Asia Pacific, which include China, India, Indonesia, and Malaysia, among others are likely to witness an increase in demand for personal care products, textiles, crop protection chemicals, and medicines. The major reasons for the growth of the market are the increasing population, growing urbanization, and changing lifestyle in these countries.
The n-Butanol market includes players such as BASF (Germany), Dow Chemical (US), OXEA (Germany), Eastman Chemical Company (US), Sasol (South Africa), PetroChina (China), Mitsubishi Chemical Corporation (Japan), Sinopec (China), BASF PETRONAS (Malaysia), and KH Neochem (Japan).
Source by: n-Butanol Market worth $5.6 billion by 2022