A new report reveals that the Global n-Butyl Alcohol Industry Market size will capture USD 8310 million by 2025. In 2018, it was USD 6440 million. It is projected to rise at a compound annual growth rate (CAGR) of 3.7%.
N-butyl Alcohol industry is gaining traction in Chemical and Energy Industry. n-Butanol is extensively used for manufacturing chemical products such as solvent, biofuel and synthetic raw materials. It is manufactured from propene, petrochemical product, or industrially manufactured by the fermentation of lignocelluloses biomass.
For ensuring future energy security renewable source of energy is an attractive option. Thus, Bio-butanol is gaining market value as its low water miscibility, blending ability with gasoline enables it to be used as a direct replacement for gasoline. It is also said to be compatible with infrastructure and causes relatively less pollution. n-butyl alcohol provides the solution for the alarming rise in carbon footprint and relieving the energy security problem.
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The latest report found on WGR, on the global N-butyl Alcohol market has mentioned several noteworthy players ruling the N-butyl Alcohol market. This list includes various prevalent vendors as well as new entrants.
Eastman Chemical Company
Formosa Plastic Group
China Nation Petroleum
The Kaiteki Company
Bohai Chemical Industry
Global n-Butyl Alcohol Industry Market: Segmental Analysis
The segmental analysis of the Global n-Butyl Alcohol has been conducted on the basis of type, application and region.
On the basis of type, the market has been segmented into Bio-butanol and Chemical Butanol.
On the basis of application, the market has been segmented into plasticizers, Biofuel, Synthetic Raw Materials, Solvent, direct solvent, melamine-formaldehyde and others.
Global n-Butyl Alcohol Industry Market: Regional Analysis
On the basis of region the market has been segmented into North America, Latin America, Europe, Asia-Pacific (APAC), Middle East and Africa. In North America, the countries such as United States and Canada are covered. In Latin America, countries such as Peru, Chile, Brazil, Mexico are covered. In Europe, countries such as Russia, United Kingdom, France, Italy and Spain are covered. In Asia-Pacific, countries such as India, Japan, South Korea area covered. In Middle East and Africa, countries such as South Africa are covered. The growth in the industry is augmented by the investments by the major players in the developing countries such as India, Sweden, South Africa, Malaysia and Saudi Arabia. During the forecast period, in terms of volume Asia-Pacific (APAC) is projected to be the dominant market. China is expected to be the major end user and so a high growth is expected to be witnessed by Asia-Pacific. With the development in the end user market, a high potential is expected from North America and Europe as well. In North America, prominent share is held by United States. In Europe, the n-butyl market is dominated by Germany followed by France. Latin American countries and the countries of Middle East are also giving positive sentiments for the growth of the market in their regions.
The major key players are Eastman Chemical Company of United States, OXEA of Germany, Mitsubishi Chemical Corporation of Japan, Sinopec of China.
The main consumers of N-Butyl Alcohol Industry are India, South Korea, Australia, Italy, Turkey, Egypt, United Kingdom, United States, Vietnam, Philippines, Thailand and others. The Asia-Pacific is consuming more than 51.84% and US is consuming 22.14%. In recent years, demand in Asia has rapidly increased.
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