Introduction
N-butanol or n-butyl alcohol is a primary alcohol, having four-carbon structures. Its chemical formula is C4H9OH. N-butanol is increasingly used as a bio-fuel in the automotive industry.
N-butanol is largely soluble in water; therefore, it is primarily used as a solvent for many formulated products such as paints, inks, adhesives, camphor, dyes, and cosmetics. N-butanol is extensively used to produce butyl acetate, an artificial flavoring and industrial solvent.
N-butanol Market: Overview
Based on application, the N-butanol market can be segmented into glycol ethers, urea-formaldehyde, additives, direct solvents, butyl acetate, butyl acrylate, bio-fuel, swelling agent plasticizers, melamine formaldehyde, and others.
In terms of end-user industries, the N-butanol market can be classified into paints and coatings, agriculture, textile, chemical, petroleum, derivative production, food & beverage, and others. Chemical and food & beverage industries are major consumers of N butanol.
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N-butanol Market: Trends and Developments
Raw material use for production of primary N-butanol is syngas and propylene. Propylene is mainly comes from the petroleum industry, and fossil fuel derived chemicals like propylene have frequent price changes as per market and international conditions. This condition is also applicable to syngas, it’s a hydrocarbon base having high prices. Price fluctuations inhibit the global N-butanol market.
Increase in use of N-butanol to produce butyl acrylate, automotive coatings, adhesives, and marine coatings is expected to propel the market during the forecast period. N-butanol is also used as a solvent to manufacture urea-formaldehyde and melamine formaldehyde resins. This, in turn, is anticipated to boost the N butanol market.
Decrease in usage of DOP (2-ethylhexyl) (phthalate) and volatility in prices restrains the N-butanol market in North America and Europe. Strict regulations regarding the usage of N-butanol due to its harmful effects on human health, in developed countries adversely affects the N-butanol market. For small capacity plants, N-butanol is not suitable for production due to changes in raw material price.
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N-butanol Market: Regional Outlook
Based region, the global N-butanol market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounts for a significant share of the N-butanol market. The N-butanol market in Asia Pacific is estimated to expand due to growth in population, rise in urbanization, and increase in standard of living. China holds a large share of the market in Asia Pacific, followed by India and Japan.
Demand for N-butanol is high in North America, especially in the U.S. Germany constitutes a dominant share of the market in Europe, followed by France. Middle East and Latin America are contributing significantly to expansion of the global n-butanol market.
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N-Butanol Market: Key Players
Major players operating in the global N-butanol market include Perstorp Holding Ab, Cobalt Technologies, Dow Chemical, Eastman, BASF, Sinopec, Plastics Corp., and Mitsubishi Chemical.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
· Customer Experience Maps
· Insights and Tools based on data-driven research
· Actionable Results to meet all the business priorities
· Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
· North America
· Asia Pacific
· Europe
· Latin America
· The Middle East and Africa
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