N-butanolMarket: Introduction
TransparencyMarket Research delivers key insights on the global N-butanol market.In terms ofrevenue, the global N-butanol market is estimated to expand at a CAGR of 6.1% duringthe forecast period, owing to numerous factors, regarding which TMR offersthorough insights and forecasts in its report on the global N-butanol market.
Theglobal N-butanol market is broadly affected by several factors, including usageof N-butanol in paints & coatings applications. Increase in applications ofN-butanol in the building & construction sector is propelling the globalN-butanol market.
N-butanol Market: Dynamics
Theincrease in the demand for butyl acrylate in the building & constructionindustry is expected to boost the global N-butanol market during the forecastperiod. The expansion of the building & construction industry in India andChina is anticipated to boost the consumption of N-butanol during the forecastperiod.
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Theusage of N-butanol is increasing in butyl carboxylate and direct solvent applications,owing to its solubility and changing customer and regulatory requirements. Thisis expected to boost the demand for N-butanol. Key attributes such as excellentreactivity as an intermediate, ready biodegradability, and solubility in almostall organic solvents have further propelled the demand for N-butanol in theproduction of butyl acetate, an active industrial solvent.
Thepaints & coatings industry is likely to be driven by the increase inconsumption of paints and coatings in construction, automotive, and generalindustries. The rise in the application of paints and coatings across the globeis anticipated to boost the consumption of N-butanol.
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N-butanolMarket: Prominent Regions
AsiaPacific is a highly lucrative region of the global N-butanol market. N-butanolis 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 AsiaPacific.
NorthAmerica is also estimated to be a highly attractive region of the globalN-butanol market. The market in the region is expected to expand at aconsiderable CAGR during the forecast period due to high demand for N-butanolin automotive, paints & coatings, adhesives & sealants, and plasticadditives industries in the region.
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Constructionand automotive industries in Europe are expanding at a rapid pace. This isincreasing 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-butanolis a preferred choice of material for a wide range of water-based coatingformulations and adhesive & sealant applications, owing to the high colorstability, softness, flexibility, and high adhesion strength of variousN-butanol based products. The increase in the demand for N-butanol in theseapplications is expected to boost the market in Europe in the near future.
N-butanolMarket: Key Players
Theglobal N-butanol market is consolidated with the presence of a few largeplayers. Key players operating in the global N-butanol market are EastmanChemical Company, Mitsubishi Chemical Corporation, SABIC, Dow, GALAXYCHEMICALS, KH Chemicals, Solventis, KH Neochem Co., Ltd., and OQ ChemicalsGmbH.
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