N-butanol also known as n-butyl is an alcohol with chemical formula C?H?OH that is produced through the petrochemical process, as well as through fermentation of sugar derived from agricultural crops. It is used as an intermediate, to produce high-value resin and specialty solvents which is used in a variety of formulated products such as paints and coating, cosmetic and fragrances, adhesives, ink, camphor, dyes and others. It is also used in different coating applications such as cross-linked baking finishes and lacquers.
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The increasing usage of n-butanol in butyl acetate, butyl acrylate, plasticizers, and glycol ethers owing to high demand in engineering plastics, automotive coating, marine coating, adhesives, and super absorbent polymers is expected to aid a robust growth of the n-butanol market. The growth of global solvents market can also be attributed as a driver of global n-butanol market. In addition to this, the preferred usage of n-butanol as a diluent and reactant in the manufacture of urea–formaldehyde and melamine–formaldehyde resins is expected to create a growth opportunity for the n-butanol market. On the other hand, product maturity,volatile raw material prices affecting production rate and environment regulations pertaining to n-butanol are some of the restraining factors faced by the global n-butanol market. Strategic alliances, mergers & acquisitions with regional enterprises to augment market footprint are key market expansion strategies been practiced by the major manufacturers across the globe.
Surge in investments by numerous major players in the developing countries including China, India, Sweden, Malaysia, Taiwan, South Africa, and Saudi Arabia is expected to augment the industry growth. Asia Pacific is the expected to be the record a dominant market in terms of volume and is expected to witness a high growth during the forecast period, with China being the major end use market. Apart from Asia Pacific, North America and Europe are expected to hold high potential in the n-butanol market in the region due to development in the end use markets. U.S. holds the prominent share of the North American N-Butanol market. The largest share is the consequence of maximum agreements & collaborations, and expansions happened due to the presence of the key players in the country. The market in Germany dominates the European market for n-butanol having accounted highest market share followed by France. Middle East and Latin America is also giving positive sentiments for the growth of n-butanol in the region.
The global n-butanol market can be segmented based on its application and region. On the basis of application, the market is divided into direct solvent, butyl acrylate, butyl acetate, glycol ethers, and plasticizers, urea–formaldehyde, melamine–formaldehyde, and others.
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Examples of some of the key market participants in the global n-butanol market are Sasol Ltd, BASF SE, Dow Chemical, OXEA, BASF-PETRONAS Chemicals., Eastman, Mitsubishi Chemical, Grupa Azoty, KH Neochem, Sinopec, Cobalt Technologies, CNPC, INEOS, Formosa Plastics Corp, Saudi Kayan, and Perstorp Holding AB, among others.