The global n-Butanol market is expected to post a CAGR of nearly 5% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the rising demand for n-butanol as a solvent. n-Butanol is widely used as a solvent in many end-use applications, due to its solubility and compatibility with many resin formulations and aqueous systems. It is widely used in organic solvents in coatings, lubricants, disinfectants, cleaning agents, metalworking fluids as well as consumer care products. n-butanol is colorless and exhibits high solubility due to which it is highly recommended for coating solutions such as inks, toners, paints, and adhesives.
This market research report on the global n-Butanol market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing preference for renewable n-butanol as one of the key emerging trends in the global n-Butanol market:
Global n-Butanol market: Increasing preference for renewable n-butanol
n-Butanol can be manufactured from petrochemical feedstock such as propane as well as the fermentation of biomass. n-Butanol obtained through the fermentation of biomass is renewable and is environment-friendly. 100% bio-based n-butanol can be obtained by fermenting sugars using Clostridium microbe that acts as a catalyst. Bio-based n-butanol is colorless, transparent, neutral liquid with a banana-like odor.
n-Butanol is preferred in end-use applications such as cosmetics, personal care products, textiles, and agrochemicals, as it is 100% bio-based and is relatively less toxic. Bio-based n-butanol is considered safe for consumption, and it is often used as a food additive in the food and beverage sector. In the pharmaceutical industry, it is also used as an excipient in drug formulation. Increased consumer preference for bio-based products can propel the growth of the bio-based n-butanol market considerably during the forecast period, says a senior analyst at Technavio for research on specialty chemicals.
Global n-Butanol market: Segmentation analysis
This market research report segments the global n-Butanol market by application (butyl acrylate, glycol ethers, butyl acetate, and direct solvent) and geographical regions (APAC, EMEA, and the Americas).
The butyl acrylate segment held the largest market share in 2017, accounting for over 44% of the market. This application segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 46%. This region is expected to dominate the market through 2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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