N-butanol Market (Application: Butyl Carboxylate, Direct Solvents, Specialty Chemicals, Rubber & Plasticizers, and Others; and End-use Industry: Agriculture, Building & Construction, Paints & Coatings, Marine, Pharmaceutical, Chemical, Personal Care, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
Press Release :
Multiple Applications of N-butanol Boost Global Market
N-butanol is a primary alcohol and a colorless liquid of medium volatility. It is popularly used as a chemical intermediate to create other chemicals such as esters and amino resins. It is currently trending in consumer products, and it is used as a solvent for paints, coatings, varnishes, fats, oils, waxes, rubber, and plasticizers. In the manufacturing industry, N-butanol is used in plastics, polymers, lubricants, brake fluids, and synthetic rubber. It is also used as a source of fuel. Over the years, N-butanol has increased its use in the food & beverage industry as an artificial food flavoring. The growing use of N-butanol in several end-use applications is driving the global N-butanol market during the forecast period.
N-butyl acrylate and methacrylate are majorly used for latex paints, textile applications, and impact modifiers for rigid polyvinyl chloride. These compounds are the largest commercial derivatives of N-butanol. Moreover, the largest derivatives of N-butyl, butyl glycol ethers are mostly used in solvent applications. Furthermore, N-butanol acts synergistically with butyl acetate as a potential solvent system for nitrocellulose lacquers and thinners to give a solvent system more effective than either solvent alone. Additionally, the solvent from N-butyl alcohol is significantly used in the formulation of pharmaceuticals, waxes, and resins. Other commercial applications on N-butanol include plasticizer esters, butylated melamine-formaldehyde resins, and mono-, di-, and tributylamine. The growing use of multiple applications of N-butanol is driving the global N-butanol market during the forecast period.
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Restoring Projects to Drive Demand for N-butanol Applications
The COVID-19 pandemic has severely impacted several end-use industries of N-butanol, including refineries, power generation, chemical processing, food and pharmaceuticals, and others. Regulations against logistics, supply chain, and construction led to the inadequate workforce, limited availability of components, demand drop, low company liquidity, and shutdown of manufacturing. Raw material suppliers and other affiliated businesses were forced to re-evaluate their plans to provide to this industry during this pandemic. The demand from residential and commercial construction witnessed a downfall, while delays in order shipments, supply chain restriction, manpower & equipment shortage, and material shortage were among the common challenges. However, with the pandemic nearing its end, the production capacity is expected to increase in various sectors to overcome the loss. This is most likely to enhance the demand for the global N-butanol market during the forecast period.
Post-COVID-19 pandemic, even after the lifting of trade regulations, it will be challenging for N-butanol producers to rebuild regular functioning conditions. However, with the restoration of the market, several end-use industries are likely to speed up their production to fill the market gap. Several projects were put on halt during the lockdown. Restoring these projects is most likely to create new opportunities for the N-butanol market. Moreover, with rising demand from these industries, the demand for the N-butanol market is expected to grow in the upcoming future. Furthermore, several governments are supporting businesses that had a hard time in the pandemic. Growing investments in these sectors are anticipating N-butanol market growth in the upcoming future.
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Bio-fuels, Eco-friendly End Products to Attract Global Consumers
Presently, there is an ongoing market trend for green, sustainable, and non-polluting fuels. Bio-butanol fuel obtained from biomass feedstock generated using the ABE fermentation turns out to be a remarkably clean and sustainable fuel with a comparable high energy density to gasoline. It is a significant replacement for bioethanol fuel, since bioethanol has a lower energy density and is potentially dangerous to the existing internal combustion engines in gasoline. Technological developments and research advancements through CRISPR and bio-engineering, large-scale processing of bio-butanol using fermentation are likely to be possible in the near future. Additionally, the use of N-butanol in genetically modifying certain species of bacteria will help in the increased production with tremendous scope in the energy and fuel sectors.
On the contrary, the mass production of the N-butanol fuel through the traditional ABE fermentation process is still not sustainable due to its toxicity for the bacteria that assist in the fermentation. As a result, most of the N-butanol used in several industrial and chemical applications is synthetically manufactured from the derived crude oil, propylene. As crude oil is a volatile raw material with regular price variations, it eventually reflects in N-butanol’s end products. In 2019, the building & construction segment dominated the N-butanol market. These segments are most likely to continue their hold on market shares in the near future. Various major market providers are focusing on various organic and inorganic growth strategies such as mergers & acquisitions, new product launches, strategic collaborations, expansions, and joint ventures to improve their product portfolio and business operations. It is likely to create new and better opportunities for the expansion of the N-butanol market across the world.
N-butanol to Witness Regional Competition in Global N-butanol Market
In previous years, North America, Europe, and Asia are the leading regions in terms of increasing consumption and demand. However, compared to the other two, North America has witnessed a sharp growth in the following years. However, the Asia Pacific has been witnessed an increased demand for paints & coatings, adhesives & sealants, plastic additives, and various other products, which is likely to boost the regional demand for N-butanol. In addition, North America is also expected to be a highly productive region of the global N-butanol market. The market in the region is expected to expand at a CAGR of ~6% during the forecast period, due to high demand for N-butanol in automotive, paints & coatings, adhesives & sealants, and plastic additives industries in the region.
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In order to increase the ongoing growth rate, N-butanol manufacturers are planning to fuel production with an anticipated boost in demand as soon as the markets restore post-COVID-19 pandemic. The advancing R&D activities in several industries are introducing further applications of N-butanol, which can attract new end users toward the market. The surge in investments by numerous major players and government financial aids in the developing countries, including China, India, Sweden, Malaysia, Taiwan, South Africa, and Saudi Arabia, is expected to expand the N-butanol market growth. However, the N-butanol market in Europe is anticipated to grow at a slow rate, as many major players and producers of N-butanol are shifting their focus to developing economies of Asia Pacific due to immense growth potential in the region. Nevertheless, increasing urbanization, introduction of new products, and rising research of such composites are expected to improve market demand in the Europe N-butanol market during the forecast period.
N-butanol Market: Overview
- N-butanol is soluble in almost every organic solvent. Therefore, it is widely used as a solvent for many formulated products such as paints, inks, adhesives, camphor, dyes, and cosmetics. Demand for N-butanol is increasing in the building & construction sector due to its properties such as good reactivity and high solubility. This is estimated to fuel the n-butanol market during the forecast period.
- N-butanol is used directly as a solvent, primarily in surface coatings and adhesives, where it acts as a diluent more than an active solvent. Its compatibility with many resin formulations and moderate solubility in water allow it to be used in many aqueous systems. N-butanol also acts synergistically with n-butyl acetate to provide a stronger latent solvent for nitrocellulose in lacquers and thinners than either solvent alone.
- According to Transparency Market Research’s latest research report on the global N-butanol market for the historical years 2016 to 2020 and the forecast period of 2021 to 2031, rise in usage of N-butanol as a flotation agent in the building & construction end-use industry segment is a key factor expected to boost the global N-butanol market during the forecast period
- In terms of revenue, the global N-butanol market is projected to cross US$ 14 Bn by 2031, expanding at a CAGR of ~6% during the forecast period
Rise in Usage of N-butanol in Building & Construction, Paints & Coatings Industries: Key Driver
- Rise in consumption of N-butanol in building & construction and paints & coatings industries across the globe is estimated to boost the lucrativeness of the market during the forecast period
- Increase in demand for coatings in various end-use industries and rise in infrastructure & construction activities are key factors driving the N-butanol market. VOC emission of solvent-based coatings used in the automotive industry is a key concern for end users. Environmental regulations in countries across the globe are expected to increase the adoption of water-soluble paints in the near future. This, in turn, is estimated to propel the demand for N-butanol in the production of various paints and coatings during the forecast period.
- Significant expansion of construction and automotive sectors in countries such as China, India, Japan, and Germany is driving the demand for paints and coatings in the country. This is anticipated to boost the demand for N-butanol.
Increase in Application of N-butanol in Butyl Carboxylate
- N-butanol is used to manufacture various types of butyl carboxylate, which are primarily used in paints & coatings, adhesives, and construction chemicals. The butyl carboxylate application segment is expected to dominate the N-butanol market during the forecast period.
- The butyl acrylate type of butyl carboxylate is used in coatings and adhesives, such as pressure sensitive adhesives (PSAs), due to its high glass transition temperature, which provides high water resistance
- The butyl acetate type of butyl carboxylate is used widely in plastic additives, textiles, and other applications due to its high temperature resistance
- N-butanol is also employed as a direct solvent in various applications such as surface coatings and paints. The direct solvents segment is projected to expand at a considerable CAGR during the forecast period. N-butanol is used as an intermediate in the production of butyl plasticizers. It is also employed in rubber production. Rubber & plasticizers is anticipated to emerge as a significant application segment of the global N-butanol market.
Paints & Coatings Industry to Drive N-butanol Market
- N-butanol is used in various monomers, which are employed in metal coatings, wood coatings, concrete tile coatings, exterior architectural paints, and water repellent systems. Therefore, the paints & coatings segment is estimated to dominate the N-butanol market during the forecast period.
- Building & construction is estimated to be a key end-use industry segment of the N-butanol market, as N-butanol is primarily used in the production of various construction chemicals, adhesives & sealants, and plastic & rubber formulations, which are employed in building & construction applications
- N-butanol is also used as an industrial intermediate in the production of ethers and butyl ether acetates, pharmaceuticals, polymers, and plastics
- N-butanol is also used in various end-use industries such as marine, personal care, and chemicals in the form of chemical intermediate to produce adhesives, plastics, wax, oil, varnishes, etc.
N-butanol Market: Competition Landscape
- Detailed profiles of providers of N-butanol have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global N-butanol market are
- Eastman Chemical Company
- Mitsubishi Chemical Corporation
- GALAXY CHEMICALS
- KH Chemicals
- KH Neochem Co., Ltd.
- OQ Chemicals GmbH
N-butanol Market: Key Developments
- Key providers of N-butanol such as Eastman Chemical Company, Mitsubishi Chemical Corporation, and Dow are focusing on various organic and inorganic growth strategies such as mergers & acquisitions, new product launches, strategic collaborations, expansion, and joint ventures to expand their product portfolio and business operations
- Major developments in the global N-butanol market are highlighted below:
- In October 2015, Saudi Basic Industries Corporation entered into a joint venture with Saudi Kayan, a manufacturing affiliate of SABIC. SABIC owns 35% share of Saudi Kayan as a part of a plan for expansion and development of manufacturing plants, distribution centers, corporate offices, and storage facilities.
- In the global N-butanol market report, we have discussed individual strategies, followed by company profiles of providers of N-butanol. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global N-butanol market.
N-butanol Market – Scope of Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global N-butanol market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global N-butanol market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global N-butanol market would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about different aspects of the global N-butanol market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global N-butanol market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global N-butanol market and estimates statistics related to growth of the market in terms of value (US$ Mn) and volume (kilo tons).
This study covers a detailed segmentation of the global N-butanol market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global N-butanol market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on N-butanol Market
The report provides detailed information about the global N-butanol market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global N-butanol market, so as to help them design successful strategies and make target-driven decisions.
- Which end-use industry segment of the global N-butanol market would emerge as a major revenue generator during the forecast period?
- How are key market players successfully earning revenues out of advantages of N-butanol?
- What would be the Y-o-Y growth trend of the global N-butanol market between 2021 and 2031?
- What are the winning imperatives of leading players operating in the global N-butanol market?
- Which application segment is expected to create lucrative opportunities for the global N-butanol market during the forecast period?
- Which are leading companies operating in the global N-butanol market?
Research Methodology – N-butanol Market
The research methodology adopted by analysts for compiling the global N-butanol market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global N-butanol market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global N-butanol market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global N-butanol market.
N-butanol Market – Segmentation
TMR’s research study assesses the global N-butanol market in terms of application, end-use industry, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects for the global N-butanol market.