Butyraldehyde Market: Introduction
- Butyraldehyde, also known as butanal, is a 4 carbon aldehyde species and is widely utilized as a building block in downstream processes of organic syntheses to produce specialty chemical products such as n-butanol, 2-ethylhexanol, 2-Ethylhexanoic acid, trimethylolpropane, and polyvinyl buthylal
- Butyraldehyde is a colorless liquid that has a pungent odor. It is produced by reacting propylene and synthesis gas over a catalyst. It is highly soluble in most common organic solvents, but readily soluble in water.
- Butyraldehyde is used in various industrial applications; however, it is majorly employed as an accelerator material in the rubber industry. Rise in global demand for rubber products is expected to drive the butyraldehyde market during the forecast period.
Key Drivers of Butyraldehyde Market
- Butyraldehyde is extensively utilized as a raw material for downstream organic synthesis of products such as n-butanol, trimethylolpropane, 2-ethylhexanoic acid, and polyvinyl buthylal. These chemicals are in turn used to manufacture pharmaceuticals intermediates, synthetic resins, rubber accelerators, perfumes, crop protection chemicals, and pesticides. This factor is expected to drive the global butyraldehyde market during the forecast period.
- Butyraldehyde is utilized as an intermediate in the manufacture of alcohols, paints & lacquers, plant protection products, pesticides, odorizing agents, oil soluble resins and polymers. It is also employed as an intermediate to make pharmaceuticals, agrochemicals, antioxidants, textile auxiliaries, perfumery, flavors and various types of additives that are used in various industries.
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Chemical Intermediate Segment to Offer Attractive Opportunities
- The chemical intermediate segment is estimated to hold a significant share of the market, in terms of revenue, owing to the high demand for butyraldehyde in various specialty chemicals. Butyraldehyde is utilized as a raw material to manufacture n-butanol, which in turn is used to produce pharmaceuticals, polymers, and pyroxilin plastics. It is also employed as a diluent in the production of melamine-formaldehyde and urea-formaldehyde resins.
Volatility in Raw Material Prices to Hamper Market
- The global butyraldehyde market is primarily hampered by the high cost of raw materials. Butyraldehyde is obtained by the reaction between propylene and synthesis gas. However, these chemicals are petroleum-derived products, and the prices of these products witness volatility due to the global crisis of oil. Thus, volatility in raw material prices is likely to restrain the butyraldehyde market.
- Butyraldehyde is also utilized as a pesticide and crop protection chemical. However, it poses a health hazard as well as environmental threat through direct contact, which is projected to hamper the market during the forecast period.
- Estimating the demand for butyraldehyde is a major challenge due to the economic slowdown in various regions across the globe. North America and Europe have still not recovered completely from the economic crisis. This has negatively affected the demand for butyraldehyde in major end-use industries in these regions.
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Asia Pacific to Hold Major Share of Global Butyraldehyde Market
- In terms of geography, the global butyraldehyde can be split into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is estimated to account for a major share of the global market, owing to the presence of numerous rubber and chemical companies in the region. The butyraldehyde market in China is expected to hold a prominent market share, due to the presence of several chemical industries in the region.
- The market in North America is projected to expand at a rapid pace during the forecast period, due to an increase in the production of rubber products across the region
Key Players in Market:
The global butyraldehyde market is highly concentrated with top manufacturers accounting for approximately 35%–40% of the market share. A few key players operating in the butyraldehyde market include:
- Eastman Chemical Company
- Grupa Azoty ZAK S.A
- KH Neochem Co., Ltd.
- Mitsubishi Chemical Corporation
- OXEA Corporation
- Perstorp Holding AB
- The Dow Chemical Company
- ZAK Spó³ka Akcyjna
Global Butyraldehyde Market: Research Scope
Global Butyraldehyde Market, by Type
Global Butyraldehyde Market, by Application
- Chemical intermediate
- Rubber accelerator
- Synthetic resins
Global Butyraldehyde Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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