QY Research has recently released its new report titled, “Global N-butanol Market Report, History and Forecast 2014-2025”, for the forecast period of 2019-2025. The report covers the competitive landscape and its growth prospects for the coming years. The report also consists of the key market trends and opportunities, and also calculate the market size by estimating the current and future market dynamics of the n-butanol market.
According to the report, the global n-butanol market was valued at US$6440 mn in the year 2018 and is likely to be worth US$8310 mn by the end of 2025. The market will register a sluggish CAGR of 3.7% during the forecast period.
Global N-butanol Market: Drivers and Restraints
The market will witness significant growth during the forecast period due to the increasing consumption of n-butanol as a biofuel. Rapidly growing industrialization along with increasing per capita income are likely to increase the consumption of dyes, coatings, resins, paints, and varnishes that will augment the demand for n-butanol in the coming years. Rising usage of n-butanol as diluents and reactants in manufacturing of urea-formaldehyde resins and melamine-formaldehyde are likely to create a positive impact on the market in the forthcoming years. In addition, technological advancements along with the product innovation to develop bio-butanol will open new market opportunities for n-butanol in the near future.
However, the fluctuation in the prices of raw material including syngas and propylene along with the environmental regulations that affect n-butanol are restraining the growth of the market over the forecast period.
Global N-butanol Market: Geographical Outlook
Asia Pacific was the dominant regional market in the past few years and is likely to grab the largest market share with the help of emerging economies such as India and China. China is anticipated to witness a high growth due to the growing demand for butyl acrylate in water-based coatings and paint industry. Europe is expected to grow at a slow pace due to the key players focusing to develop an immense growth potential in this region. North America is also likely to show significant growth due to the rising medical sector, personal care, and textile industry in this region.
Global N-butanol Market: Forecast by Segments
The market is segmented into product type and end-use industries. On the basis of end-use industries, the market is segmented into butyl acetate, direct solvent, glycol ethers, butyl acrylate, and others. Based on the product type, the market is segmented into reagent grade and industrial grade.
Global N-butanol Market: Leading Players
Some of the key players operating in the global n-butanol Market are Anqing Shuguang Chemical, BASF, Yankuang Group, DowDuPont, Sinopec Group, Oxea Group, China Nation Petroleum, Eastman Chemical Company, Elekeiroz, Formosa Plastic Group, LG Chem, Sasol Limited, Optimal Chemicals, Oxochimie, PETRONAS Chemicals Group, Kyowa Hakko, Mitsubishi Chemical, SABUCO, and Perstorp Oxo.
Global N-butanol Market: Competitive Landscape
BASF is one of the leading manufacturers in the market across the world followed by DowDuPont. Companies are focusing on the development of new product technologies and increasing their investments for increasing their growth opportunities and revenue. For instance, one of the major players, BASF has successfully developed its new technology for making climate-friendly methanol to reduce emissions.
Full Report Overview@ https://www.qyresearch.com/index/detail/1076290/global-n-butanol-market