Dublin, July 19, 2023 (GLOBE NEWSWIRE) -- The "N-Butanol Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Grade (Industrial Grade v/s Pharmaceutical Grade), By Application (Butyl Acetate, Butyl Acrylate, Glycol Ethers, Plasticizers, and Others), By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
The global N-Butanol market is expected to witness significant expansion in the coming years, with a steady growth rate projected until 2028. N-Butanol, also known as 1 butanol or butyl alcohol, is a colorless liquid with a fruit-like odor. It is primarily used as a raw material for paint and coating resins, as well as for butyl carboxylates such as butyl acrylate, butyl acetate, and glycol ethers.
The growing demand for N-Butanol from various end-user industries, including paints & coatings, chemical and petrochemical, textile, agriculture, building & construction, pharmaceutical, and personal care, is expected to drive the market's growth.
The increasing use of N-Butanol as a raw material in various products like fuels and green buildings further contributes to the rising demand. In fact, butyl alcohol was among the world's most traded products in 2020, accounting for 0.003% of global trade.
One of the key drivers of the market's growth is the rising demand from the pharmaceutical sector. Butyl alcohol finds extensive application in pharmaceutical grade products such as artificial eyes, dentures, and surgical prostheses.
Additionally, it is commonly used in manufacturing pharmaceuticals, microscopy for preparing paraffin embedding materials, and veterinary medicine as a bactericide. As efforts to improve healthcare access and quality intensify, the demand for medical and surgical products is expected to surge, thereby boosting the demand for N-Butanol.
The market growth is further propelled by the increasing demand for N-Butanol in various industrial applications. N-Butanol serves as an important intermediate in the production of dyes, lacquers, resins, varnishes, and other industrial products. Its wide range of melting and boiling points makes it suitable for the production of chemicals used for cooling machinery.
The versatility of N-Butanol extends to agriculture, where it is used for the production of herbicides and other agrochemicals. Moreover, its application in the food industry as a dehydrating agent, flavoring agent, and fragrance component adds to its market demand.
The demand for eco-friendly alternatives has also contributed to the growth of the N-Butanol market. With increasing global efforts towards sustainability and reducing greenhouse gas emissions, N-Butanol has gained prominence as a cleaner-burning alternative fuel.
It can be used in diesel engines without modification and can reduce greenhouse gas emissions by up to 86%. This eco-friendly attribute positions N-Butanol as a desirable fuel option, fostering its market growth.
Market Segmentation:
Grade:
- Industrial Grade
- Pharmaceutical Grade
Application:
- Butyl Acetate
- Butyl Acrylate
- Glycol Ethers
- Direct Solvent
- Plasticizers
- Others
Key Companies Mentioned:
- Mitsubishi Chemical Corporation
- Dow Chemical Company
- BASF SE
- OXEA GmbH
- Sasol Ltd
- KH Neochem Co Ltd
- China National Petroleum Corporation (CNPC)
- INEOS Oxide Ltd
- Perstorp Holding AB
- Saudi Kayan Petrochemical Company
For more information about this report visit https://www.researchandmarkets.com/r/28284d
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