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.
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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.
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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.
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.
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