Promising Growth in Paints and Coatings Industry Boosts Revenue in the global N-Butanol Market, Highlights TMR
- N-butanol market is estimated to grow at a sizable CAGR of 6.1% during analysis period 2021–2031. Increased product use in paints, coatings, building, and construction sectors will boost sales
- Increased demand from paints and coatings, automotive, plastic additives, and adhesives & sealants industries will shape growth of North America market
ALBANY, N.Y., July 13, 2021 /PRNewswire/ -- Companies operating in the global n-butanol market are increasing focus toward strengthening their production capabilities. This move is in response to the potential growth in demand for n-butanol following restoration of markets after COVID-19 pandemic.
A new assessment report by Transparency Market Research gives lucid data and analysis on the global n-butanol market. This study emphasizes that the market is likely to gather the valuation of around US$ 14 Bn by the end of assessment period 2021–2031.
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N-butanol Market: Key Findings
- Varied Applications of N-butanol Fuel Market Sales
N-butanol refers to a colorless liquid that shows medium volatility. It is popular as a primary alcohol that is used as a chemical intermediate for manufacturing of various other chemicals including amino resins and esters. At present, the liquid is utilized in the production of a wide range of consumer products. Thus, increased product use as a solvent for coatings, paints, fats, varnishes, waxes, oils, plasticizers, and rubber is foreseen to bring extensive sales opportunities in the n-butanol market in the years to follow.
- Increased Product Use as Solvent Creates Massive Demand Opportunities for Market Players
As n-butanol shows solubility in nearly all organic solvents, it finds wide application as a solvent for a wide range of formulated products including inks, paints, camphor, adhesives, cosmetics, and dyes. In addition to this, n-butanol is in high demand across the building and construction industry. This growth is on the back of its various properties including high solubility and good reactivity. Thus, the thriving building and construction industry will work in favor of the n-butanol market in the forthcoming years.
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N-butanol Market: Growth Boosters
- N-butanol is extensively utilized in polymers, plastics, brake fluids, synthetic rubber, and lubricants in the manufacturing industry. Thus, increased product application in manufacturing industry will help in expanding growth of n-butanol market in the forthcoming years.
- In the food and beverages industry, n-butanol is increasingly used for artificial food flavoring purposes. This factor is estimated to bring lucrative avenues for players in the market for n-butanol.
- Over the period of past few years, there is noteworthy growth in the use of coatings across varied end-use industries. This aside, the government bodies of many countries across the globe are increasing investments toward the infrastructure development activities. All these factors are likely to generate incremental expansion avenues in the global n-butanol market over the period of next few years.
- Major vehicle users from across the globe are showing concerns pertaining to the VOC emission of solvent-based coatings utilized across the automotive industry. This aside, the government authorities of many nations are introducing stringent environmental regulations. Owing to this scenario, a noteworthy growth in the acceptance of water-soluble paints is projected in the period of upcoming few years. As a result, the global n-butanol market is likely to observe high demand opportunities from the companies engaged in the paints and coatings industries.
- N-butanol finds application as an industrial intermediate in the manufacturing of pharmaceuticals, ethers and butyl ether acetates, plastics, and polymers. Apart from this, it is utilized in different end-use industries including personal care and marine. It is also used in chemicals in the form of chemical intermediate in the production of plastics, adhesives, oil, varnishes, and wax. On the back of all these applications, the market is foreseen to gather promising sales opportunities in the years ahead.
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N-butanol Market: Well-Established Participants
The report profiles key participants working in the n-butanol market. Thus, the study sheds light on many important aspects such as key product offerings, financials, strategies, and recent developments of all market players.
The list of key players in the market includes following names:
- Mitsubishi Chemical Corporation
- Eastman Chemical Company
- SABIC
- Dow
- KH Chemicals
- GALAXY CHEMICALS
- KH Neochem Co., Ltd.
- Solventis
- OQ Chemicals GmbH
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