Global n-butanol market is expected to witness significant growth over the forecast periodin light of increasing demand in various sectors including coatings, paints, adhesives, sealants, inks and solvent productsin various countries including China, India, Mexico, Saudi Arabia, Germany, and the U.S. Rising consumption in food & beverage sector as artificial flavorowing to high demand for fruit, butter, cream, rum, ice cream and ices, candy, whiskey, baked goods and cordials will increase market size over the next seven years.
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Growing consumption of n-butanol in butyl acrylate, butyl acetate, glycol ethers, direct solvent and plasticizersowing to high demand in marinecoatings, automotive coatings, engineering plastics, super absorbent polymers, and adhesives is expected to augment industry growth over the forecast period.Rising usage in various segments including pharmaceuticals, herbicide esters, polymers, pyroxylin plastics, and printing will fuel market penetration in the near future. In addition, high usage as a reactant and diluents to manufacture melamine–formaldehyde and urea–formaldehyde resinsare expected to create immense growth potential over the upcoming years.
Rapid industrialization along with rising disposable income is expected to increase consumption of paints, coatings, varnishes, resins, and dyes which in turn will augment market demand.Increasing investment by various major players in countries including India, China, Malaysia, Sweden, Taiwan, Saudi Arabia, and South Africa is expected to propel industry growth. However, fluctuation in raw material prices including propylene and syngas along with environment regulations pertaining to n-butanol is expected to restrict industry growth over the next seven years. However, technological advancements along with product innovation to develop bio-butanol will open new market avenues over the next seven years.
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Asia Pacific was the dominant market, accounted for over 40% of the global volume and is expected to witness significant growthover the forecast period majorly due to high consumption of n-butanol in China. China is expected to witness high growth as a result of rising demand for butyl acrylate in automotive paints and water-based coatings. In addition, growing various end-use industries including pharmaceuticals, paints & coatings, textiles, food & beverages and automotive in China, India and Indonesia will serve as key driver for industry expansion over the forecast period. Furthermore, high demand in personal care sector as it is used as ingredient in perfumes and as a solvent for the extraction of essential oils will propel industry over the next seven years.
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