Overview and Scope
The n-butanol market consists of sales of adhesives, sealants, lubricants, printing inks, and cosmetics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The n-butanol market size has grown strongly in recent years. It will grow from $3.37 billion in 2023 to $3.55 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to growth in construction industry, increasing demand for plasticizers, rise in demand for coatings and paints, increase in agrochemical production, rising disposable incomes.
The n-butanol market size is expected to see strong growth in the next few years. It will grow to $4.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising demand for bio-based chemicals, growth in personal care industry, increase in food processing activities, growing automotive production, rise in infrastructure development projects. Major trends in the forecast period include advancements in production technologies, growing adoption in sustainable chemical manufacturing, rising focus on reducing carbon footprint, and increasing investments in research and development.
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The n-butanol market covered in this report is segmented –
1) By Grade: Pharmaceuticals, Industrial, Chemicals
2) By Production Process: Oxyhydrogenation Of Propylene, Butane Oxidation, Fermentation Of Biomass
3) By Application: Butyl Acrylate, Butyl Acetate, Glycol Ethers, Direct Solvent, Plasticizers, Other Applications
4) By End-Use Industry: Paints And Coatings, Chemicals And Petrochemicals, Textiles, Agriculture, Buildings And Constructions, Food And Beverages, Transportation, Pharmaceuticals
Asia-Pacific was the largest region in the n-butanol market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the n-butanol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing demand for sustainable fuel is expected to propel the growth of the n-butanol market going forward. Sustainable fuel refers to energy sources that are renewable, low-carbon, and environmentally friendly, aiming to reduce reliance on finite fossil fuels and mitigate climate change. The growing demand for sustainable fuel is due to increasing awareness of climate change, stricter environmental regulations, advancements in renewable energy technologies, and the pursuit of energy security and independence. n-butanol is beneficial as a sustainable fuel because it can be produced from renewable biomass, offers higher energy content and lower emissions than ethanol, and is compatible with existing gasoline engines. For instance, in May 2023, according to the International Energy Agency (IEA), a France-based intergovernmental organization, investments in clean energy on a global scale experienced a notable upsurge from $1,408 billion in 2021 to $1,740 billion in 2023, which unequivocally demonstrates the growing commitment towards environmentally sustainable practices. Therefore, the growing demand for sustainable fuel drives the n-butanol market.
Construction Industry Growth Fuels The n-butanol Market Expansion Via Infrastructure Demand
The growing demand in the construction industry is expected to drive the n-butanol market going forward. The construction industry encompasses all activities related to planning, designing, building, and maintaining infrastructure and buildings. The increasing demand in the construction sector can be attributed to population expansion, urban development, infrastructural advancements, and governmental funding in construction endeavors. n-Butanol plays a significant role in the construction industry by enhancing the performance and sustainability of materials and processes. Its use as a solvent in coatings and adhesives, as an intermediate in chemical synthesis, and as a sustainable fuel for construction equipment makes it a valuable resource for improving construction activities’ efficiency and environmental impact. For instance, in May 2024, according to the report published by the Bureau of the Census, a US-based principal agency of the Federal Statistical System, construction spending during March 2024 was estimated at an annual rate of $2,083.9 billion, representing a 9.6% increase compared to March 2023, while during the first three months of 2024, spending amounted to $461.0 billion, showing a 10.6% increase over the same period in 2023. Hence, the growing demand in the construction industry propels the n-butanol market.
Key Industry Players
Major companies operating in the n-butanol market are China National Petroleum Corporation, BASF SE, Grupa Azoty, The Dow Chemical Company, Saudi Basic Industries Corporation, Thermo Fisher Scientific Inc., Mitsubishi Chemical Corporation, Merck KGaA, Ineos Group Limited, Brenntag AG, Sasol Limited, Arkema S.A., Eastman Chemical Company, PETRONAS Chemicals Group, Jiangsu Huachang Chemical Industry Company Limited, Solventis Ltd, BASF PETRONAS Chemicals Sdn. Bhd., OQ Chemicals GmbH, KH Neochem Co. Ltd. , Texmark Chemicals Inc., Santa Cruz Biotechnology Inc., Anhui Shuguang Chemical Group, Finar Limited, Tokyo Chemical Industry Co. Ltd., Pacific Texchem Private Limited, Andhra Petrochemicals Ltd.
The n-butanol market report table of contents includes:
1. Executive Summary
2. n-Butanol Market Characteristics
3. n-Butanol Market Trends And Strategies
4. n-Butanol Market – Macro Economic Scenario
5. Global n-Butanol Market Size and Growth
…..
32. Global n-Butanol Market Competitive Benchmarking
33. Global n-Butanol Market Competitive Dashboard
34. Key Mergers And Acquisitions In The n-Butanol Market
35. n-Butanol Market Future Outlook and Potential Analysis
36. Appendix
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