WASHINGTON, April 20, 2023 (GLOBE NEWSWIRE) -- The Global N-Butanol Market is valued at USD 3.2 Billion in 2022 and is projected to reach a value of USD 4.41 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 4.7% over the forecast period 2023-2030.
Market Overview
The N-Butanol Market is a rapidly growing industry. The global n-butanol market is expected to grow steadily in the coming years, driven by the increasing demand from various end-use industries, such as coatings, automotive, construction, and pharmaceuticals. The market is also expected to be driven by the growing demand for bio-based chemicals and the increasing use of n-butanol in the production of biofuels.
We forecast that the coatings industry in the N-Butanol Market sales will account for more than 45% of total sales by 2030. the coatings industry is expected to continue to be the largest application segment for N-butanol due to its wide range of applications, advantages over other solvents, growing demand for high-quality coatings, and increasing focus on sustainability and environmental friendliness.
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Market Dynamics
Growing Demand from End-Use Industries to Support Market Expansion
N-butanol demand is driven by its use as a solvent, intermediate, and chemical feedstock in various end-use industries, such as coatings, automotive, construction, and pharmaceuticals. The coatings industry is one of the largest consumers of N-butanol, which is used as a solvent in producing various coatings, including paints, varnishes, and lacquers. In the automotive industry, N-butanol produces brake fluids and fuel additives. It is used as a solvent in producing concrete additives and adhesives in the construction industry. The pharmaceutical industry also uses N-butanol as a solvent and intermediate in producing various drugs. The increasing demand from these industries is expected to drive the growth of the N-butanol market in the coming years.
Growing Focus on Sustainable Chemicals to Drives the Market Growth
With the increasing awareness about environmental concerns and the need to reduce dependence on fossil fuels, there is a growing focus on producing sustainable chemicals. N-butanol can be produced from renewable resources such as biomass, making it an attractive option for producing sustainable chemicals. The demand for sustainable chemicals is expected to increase in the coming years, driven by various factors, such as government regulations and consumer preferences. As a result, the demand for N-butanol as a feedstock for producing sustainable chemicals is expected to increase, driving the market's growth.
Top Players in the Global N-Butanol Market
- Green Biologics Inc. (Oxfordshire, U.S.)
- Eastman Renewable Materials LLC (U.S.)
- The Dow Chemical Company (United States)
- BASF SE (Germany)
- Mitsubishi Chemical Corporation (Japan)
- BASF Petronas Chemicals (Malaysia)
- Sinopec (China)
- KH Neochem (Japan)
- Oxochimie (France)
- Andhra Petrochemicals (India)
- Cobalt Technologies (U.S.)
- Green Biologics (UK)
- China National Petroleum Corporation (CNPC) (China)
- Formosa Plastics Corp (Taiwan)
- INEOS Oxide Ltd (United Kingdom)
- Perstorp Holding AB (Sweden)
- Saudi Kayan Petrochemical Company (Saudi Arabia)
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Top Trends in the Global N-Butanol Market
- One trend that Vantage Market Research (VMR) expects to see in the N-Butanol Market is the growing demand for bio-based chemicals. One of the major trends in the N-butanol market is the increasing demand for bio-based chemicals. With the rising awareness about environmental concerns and the need to reduce dependence on fossil fuels, there is a growing focus on producing chemicals from renewable and sustainable sources. N-butanol can be produced from biomass, making it an attractive option for producing bio-based chemicals. This trend is expected to continue in the coming years, with the demand for bio-based chemicals increasing across various end-use industries.
- Another trend that VMR predicts will continue in the N-Butanol Market is the shift toward waterborne coatings. The coatings industry is one of the largest consumers of N-butanol. However, a growing trend towards waterborne coatings is considered more environmentally friendly than traditional solvent-based coatings. Waterborne coatings use water as a solvent instead of organic solvents like N-butanol. This trend is driven by various factors, such as increasing regulations on VOC emissions and growing awareness about environmental concerns. As a result, the demand for N-butanol from the coatings industry is expected to be impacted. A shift towards waterborne coatings leads to lower demand for N-butanol as a solvent. However, N-butanol will still be used as a feedstock to produce other chemicals used in coatings, such as butyl acrylate.
Top Report Findings
- Based on the Application, most of the N-Butanol Market's revenue is controlled by the butyl acrylate category. Butyl acrylate is a key ingredient in manufacturing polymers, coatings, adhesives, and textiles, among other applications. The Butyl acrylate category is expected to be one of the dominant segments in the N-butanol market during the forecast period due to its growing demand from end-use industries such as paints and coatings, adhesives, textiles, and others.
- Based on Commercial Manufacturing, most of the N-Butanol Market's revenue is controlled by the Biosynthesis Using Clostridium Acetobutylicum category. The growth of the biosynthesis segment is driven by the increasing demand for bio-based chemicals and renewable fuels, coupled with the development of efficient and cost-effective fermentation technologies.
- Based on End-Use, most of the N-Butanol Market's revenue is controlled by the coating’s category. The research suggests that the coatings category will dominate the N-butanol market during the forecast period due to the growing demand for high-quality coatings from various end-use industries, such as automotive, construction, and packaging.
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Recent Developments in the Global N-Butanol Market
- In 2020, at the Lake Charles Project (LCCP) in Germany, SASOL reported that the Guerbet alcohol unit was operating profitably at 100%. The facility is capable of producing 173,000 tons of booze annually.
- In 2020, a Chinese firm, Guangxi Huayi New Material firm (China), has chosen LP SELECTOR 10 technology to produce butanol at a new manufacturing facility, according to a joint announcement by The Dow Chemical Company and Johnson Matthey (UK).
Coatings Category of the End Use Industry Segment of N-Butanol Market Expected to Generate a Considerable Chunk of Revenue
For better understanding, based on the End-Use Industry, the N-Butanol Market is divided into Varnishes, Paints, Coatings, Resins, Camphor, Dyes, Fats, Vegetable Oils, Waxes, Shellac, Rubbers, Alkaloids, and Other Industries.
The coatings industry has been one of the largest application segments for N-butanol, and it is anticipated to be the largest segment in the coming years. The coatings industry is driven by the increasing demand for high-quality coatings from various end-use industries, such as automotive, construction, and packaging. N-butanol is a key raw material used in producing high-quality coatings, which are required to meet these industries' stringent quality and performance standards.
On the other hand, the Paint category is anticipated to grow significantly. The research suggests that the paints industry will continue to be one of the largest application segments for N-butanol, driven by the increasing demand for high-quality paints and coatings from various end-use industries.
Asia Pacific Region Anticipated to Generate a Huge Amount of Revenue in the Global N-Butanol Market
The Asia Pacific region is expected to maintain its dominance in the N-Butanol Market in the coming years. The Asia Pacific region focuses on producing sustainable chemicals, and N-butanol can be produced from renewable resources such as biomass. This aligns with the region's growing focus on sustainability and reducing dependence on fossil fuels.
The Asia Pacific region is expected to grow the fastest in the N-Butanol Market. The Asia Pacific region is experiencing rapid industrialization and infrastructure development, particularly in countries like China, India, and Southeast Asian nations. This has increased demand for N-butanol as a solvent and chemical intermediate in various end-use industries such as coatings, automotive, and construction. The growing demand from these industries is expected to drive the growth of the N-butanol market in the region.
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on N-Butanol Market Forecast Report (2023-2030).
Global N-Butanol Market segmentation
By Application
- Butyl Acrylate
- Butyl Acetate
- Glycol Ethers
- Direct Solvent
- Plasticizers
- Other Applications
By Commercial Manufacturing Process
- Hydroformylation Reaction of Propene
- Biosynthesis Using Clostridium Acetobutylicum
By End-Use Industry
- Varnishes
- Paints
- Coatings
- Resins
- Camphor
- Dyes
- Fats Vegetable Oils
- Waxes
- Shellac
- Rubbers
- Alkaloids
- Other Industries
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 3.2 Billion |
| Revenue Forecast by 2030 | USD 4.41 Billion |
| CAGR | 4.7% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Green Biologics Inc., Eastman Renewable Materials LLC, The Dow Chemical Company, BASF SE, Mitsubishi Chemical Corporation, BASF Petronas Chemicals, Sinopec, KH Neochem, Oxochimie, Andhra Petrochemicals, Cobalt Technologies, Green Biologics, China National Petroleum Corporation, Formosa Plastics Corp, INEOS Oxide Ltd, Perstorp Holding AB, Saudi Kayan Petrochemical Company |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/nbutanol-market-2081/request-sample |
Key Questions Answered in the N-Butanol Market Report are:
- What is the current market size and growth rate of the n-butanol market?
- What are the key drivers, restraints, and trends influencing the n-butanol market?
- What are the major applications of n-butanol and what is the demand for each application?
- Who are the major players in the n-butanol market and what are their market shares?
- What are the different types of n-butanol available in the market and what are their respective prices?
- What are the major challenges faced by the n-butanol market and how are they being addressed?
- What are the key regions and countries driving the growth of the n-butanol market?
- What are the regulatory policies and standards affecting the n-butanol market?
- What are the recent developments and strategies adopted by the key players in the n-butanol market?
- What is the future outlook for the n-butanol market in terms of growth opportunities and challenges?
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