Rockville, MD., July 10, 2024 (GLOBE NEWSWIRE) -- The global N-Butanol Market is forecasted to increase from a value of US$ 5.42 billion in 2024 to US$ 8.11 billion by the end of 2034. Fact.MR’s extensive and updated study reveals that the market is expected to advance at a CAGR of 4.1% from 2024 to 2034.
N-butanol, which is also called 1-butanol or normal butanol, is a colorless, flammable liquid with a distinct smell, and is a versatile solvent and intermediate in numerous industrial applications. N-butanol is predominantly used as a solvent in making paints, coverings, and dyes. Moreover, it benefits the production of plastics, drugs, and body products, and is also used as an extractant and fuel additive in general. The main method for producing n-butanol is the Oxo process, which involves the hydoformylation of propylene and then hydrogenating the resultant butyraldehyde. Dehydrogenation of butane and the fermentation of biomass are two more manufacturing techniques.
With robust demand from countries such as China and India, where the building and automotive industries are exhibiting rapid expansion, the Asia Pacific region is a key market for n-butanol. Advancements in bio-based production techniques, stricter environmental laws, and fluctuating raw material prices are all having an impact on this market. The dynamics of the market are also being shaped by the rising demand for environment-friendly goods and the gradual move to renewable sources for butanol production.
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Key Takeaways from N-Butanol Market Study:
- The market in North America is projected to expand at a CAGR of 4.6% and offer an absolute opportunity of US$ 942.2 million from 2024 to 2034.
- East Asia accounts for 25.1% of the global market share in 2024, and is forecasted to generate an absolute dollar opportunity of US$ 738 million by 2034.
- Between 2024 and 2034, the building & construction end-use segment is expected to create an absolute dollar opportunity of US$ 788.7 million.
- With 37.9% market share, the retailers’ sales channel category is estimated to be worth US$ 2.06 billion in 2024.
- The n-butanol market in China is projected to reach a value of US$ 1.24 billion by 2034.
"N-butanol manufacturers should leverage the strong demand from the automotive, building & construction, industrial, and personal care industries, and also cash in on the global trend of sustainable manufacturing practices,” says a Fact.MR analyst.
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N-Butanol Industry News:
Leading manufacturers of n-butanol are LyondellBasell Industries, BASF, The DOW Chemical Company, Eastman, OQ Chemicals, Sasol Ltd., BASF Petronas Chemicals, Petrochina, Mitsubishi Chemical Company, Sinopec, and KH Neochem. Demand for n-butanol from the consumer products, construction, and automotive industries will be high going forward. Making investments in environment-friendly technologies and procedures has been supporting n-butanol market expansion over the years.
- In 2020, Lyondell Basell announced a volume increase of bio-based butanol production at its German facility to fulfil the growing demand for environment-friendly fuels and solvents.
- In Jun 2021, Sasol Solvents and Transnet Freight Rail signed a public-private partnership to provide additional eco-friendly energy alternatives and greener solvents of bio-butanol.
More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the global n-butanol market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on end use (building & construction, industrial, automotive, pharmaceuticals, food & chemical processing, personal care), application (plasticizers, direct solvents, n-butyl acetate, glycol ethers, methacrylate esters, butyl acrylate), and sales channel (retailers, distributors & traders, direct imports, direct company sales), across major seven regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and the Middle East & Africa).
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