According to ChemAnalyst report, “Global Butyl Glycol Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, 2015-2035”, The Butyl Glycol market is expected to expand and reach approximately 1400 thousand tonnes in 2035 at an expected CAGR of 3.92% in the forecast period. The Butyl Glycol market is anticipated to expand throughout the projected period with high demand from Paints Coatings & Inks, Intermediate Chemicals, Detergent, Lubricants, and others end-use industries.
Butyl Glycol is a clear liquid synthesized from the reaction of ethylene oxide with an alcohol such as butanol in the presence of a catalyst. This reaction is known as the ethoxylation reaction. Butyl Glycol is miscible with water and other solvents owning up to its application as an industrial solvent. Butyl Glycol has low volatility making it a perfect solvent for the paint industry. Other uses of Butyl Glycol include inks, cleaners, resins, lubricants, drilling and cutting oil, liquid soaps, degreasers, leather protectors, whiteboard cleansers, printing pastes, production of butyl glycol acetate, use as a precursor for producing plasticizers, and more. Butyl Glycol is an important chemical used to synthesize various compounds like acetates, and alcoholates, by undergoing reactions like esterification and oxidation.
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The primary driver behind the expansion of the Butyl Glycol market is paints and inks. The excellent miscibility of Butyl Glycol with water and other synthetic chemicals makes it good ingredients in paints, inks, and coatings. In 2021, the Paints, Coatings & Inks industry consumed about 50% of the total Butyl Glycol, and in the future, it is anticipated to dominate the market in the forecast period due to growing industrialization. With the industrialization, the demands for painting and coating of household items, vehicles, automotive body and more will rise in the forecast period. Additionally, the expansion of the Butyl Glycol market is expected to rise due to growing demand for plasticizers and acetates in the forecast period. In addition, the lubricant industry is expected to contribute to the growing Butyl Glycol demand in the forecast period.
The Butyl Glycol market is segregated based on end-use, sales channel, and region. Australia is the largest Butyl Glycol producer in the current scenario. Based on demand by region, Asia Pacific was the dominant region for the consumption of Butyl Glycol in 2021 and is anticipated to maintain its position in the forecast time of 2035 with a CAGR of 3.99%. The second largest consumer of Butyl Glycol was Europe in 2021 and is expected to maintain its position in the forecast period.
Based on end-uses, the Butyl Glycol market is segregated into Paints Coatings & Inks, Intermediate Chemicals, Detergent, Lubricants, and others. The highest demand for Butyl Glycol is by the Paints, Coatings & Inks sector, making up approximately 50% of the total market in 2021, and is anticipated to stay the biggest shareholder in the coming decade with an expected CAGR of 3.96%. Interestingly, the Lubricant sector will likely grow with an anticipated CAGR of 4.27% in the forecast period.
“Global Butyl Glycol Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, 2015-2035”, the significant players functional in the Global Butyl Glycol are Dow Chemical Company, Sadara Chemical Company, BASF SE, Sasol Ltd, Ineos oxide, Lyondell basell, PETRONAS Chemicals, and others.
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“The rapidly increasing demand for chemical solvents in the industries for the growing demand of paints and inks project the expansion of the Butyl Glycol market in the forecast period. The properties of Butyl Glycol such as miscibility nature with water and other chemicals and low volatility makes it an excellent chemical for synthesizing acetates, alcoholates, paints, and inks. Furthermore, in the upcoming times the demand of Butyl Glycol is more likely to expand as the construction and industrialization in countries will impose a greater demand for paints and coating, resulting in Butyl Glycol market expansion in the upcoming years. “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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