NEWARK, Del, March 09, 2023 (GLOBE NEWSWIRE) -- The global butyraldehyde market was worth US$ 200 Million in the year 2022 and is expected to reach US$ 360 Million by the year 2032 at a CAGR of 6% between 2022 and 2032.
Butyraldehyde, better known as ‘Butanal’, comes across as a colorless liquid carrying a pungent smell. It is soluble in majority of organic solvents but not entirely soluble in water. Oxo process is a common method of producing butyraldehyde. Herein, carbon monoxide, propylene, and hydrogen react together. Rhodium acts as a catalyst.
Butyraldehyde is actually used in the form of raw material for producing polyvinyl butyral, trimethylolpropane, 2-ethylhexanol, and n-butanol. Another application is that of an intermediate in the chemical vertical. It also finds its presence in crop protection products, pesticides, pharmaceuticals, synthetic resins, perfumes, and plasticizers.
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Butyraldehyde is mostly used in producing n-butanol. This could, in turn, be used in the form of solvent in the coatings vertical and also for manufacturing pyroxylin plastics, pharmaceuticals, and polymers. This demand is expected to increase on a sizable note going forward. For example – as per the Ministry of Chemicals and Fertilizers, around 68K tons of butanol get consumed in India in a year to form butyl acrylate. It is, in turn, used for forming acrylic paint. The other applications include additives in polishes and cleaners, solvent for dyes, additives in gasoline, and solvent in textile industry.
2-ethyl hexanol is another product derived from butyraldehyde. It’s used to produce plasticizers, which are used to derive PVC (polyvinyl chloride). The players like Formosa Plastics, Westlake Chemical, Shin-Etsu are emphasizing on expansion of manufacturing capacity, which would certainly ask for 2-ethyl hexanol. On these grounds, Shintech, in the year 2018, did announce expanding the PVC output at Louisiana complex by more than 50% to over 11 Million mt per year, that too, along with the other upstream PVC expansions by 2020 and 2021. Though there were disruptions due to Covid-19, normalcy has been restored now. Butyraldehyde is also used for producing extractants that are used in the form of solvents in dye and coating vertical. Methacrylate esters and acrylate are also produced from butyraldehyde. Along these lines, the Ministry of Chemicals and Fertilizers has confirmed that more than 100K tons of 2-ethyl hexanol gets consumed by India per year.
N-butyraldehyde gets used as raw material to produce alcohols (multi- and mono-hydroxide), esters, amines, and acids. It is also imperative in producing films that are used in the safety glass.
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At the same time, the fact that butyraldehye, on direct exposure to the atmosphere, may cause environmental hazards can’t be ignored.
Future Market Insights has walked through these facets with future perspectives in its latest market study entitled ‘Butyraldehyde Market’. Its team of analysts and consultants is there to execute through its 360-degree approach in primary, secondary, and tertiary modes of research.
“With Chemicals vertical witnessing ripples through butyraldehyde, the global butyraldehye market is likely to grow by leaps and bounds in the near future”, says an analyst from Future Market Insights.
Key Takeaways from Butyraldehyde Market
- North America holds the largest market share due to the US being subject to mass production of rubber products.
- The Asia-Pacific stands second on this count. This region is also home to the major portion of rubber trees.
Competitive Landscape
The key participants in butyraldehyde market include Mitsubishi Chemical Corporation, KH Neochem Co., Ltd., Tokyo Chemical Industry Co., Ltd., BASF SE, Eastman Chemical Company, and others.
Key Segments Profiled in the Butyraldehyde Industry Survey
By Product Type:
- N-Butanol
- 2-Ethylhexanol
- Polyvinyl Buthyral
- Others
By Application:
- Paints and Coatings
- Pharmaceuticals
- Agrochemicals
- Polymers
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
What does the Report Cover?
- The research study is based on product type (N-Butanol, 2-Ethylhexanol, Polyvinyl Buthyral, and likewise), and by application (paints and coatings, pharmaceuticals, agrochemicals, polymers, and likewise).
- With paints and coating vertical expanding on a continuous basis, the butyraldehyde market is expected to grow on a good note in the forecast period.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
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