(PRWEB) July 02, 2014
The global market for n-butanol was estimated at 3,802.5 KT in 2012, and is further forecasted to grow at a CAGR of 4.6% from 2013 to 2018, to reach 4,980.0 KT by 2018. Asia-Pacific dominated the global n-butanol market and consumed around 49.9% in 2012. Rapidly growing end-user industry demand in this region is driving growth of the n-butanol market.
There has been a considerable growth with respect to progress, in the production and application of n-butanol as a biofuel. Butanol is a very competitive renewable biofuel for use in internal combustion engines, given its many advantages. On comparing the properties of butanol with the conventional gasoline, diesel fuel, and some widely used biofuels, i.e. methanol, ethanol, biodiesel, it was derived that n-butanol has the potential to overcome the drawbacks brought in by low-carbon alcohols or biodiesel.
The market for n-butanol has grown significantly during the past few years. It is forecast to grow at a more rapid pace in the next five years, mainly driven by the growing demand in the Asia-Pacific region. China consumed around 34.8% of the global n-butanol demand in 2012. Production facilities of n-butanol are majorly concentrated in Europe and North America, which are the key exporting regions.
Asia-Pacific N-butanol market had been valued at $3.0 billion in the year 2013 growing at 7.7% annually, and is projected to reach $4.3 billion by the end of the year 2018. Asia-Pacific n-butanol market constitutes 44.5% of the global n-butanol market, and is poised to grow its market share to 45.7% by the end of year 2018.
Browse through the market data tables, figures and detailed ToC on the “Asia-Pacific N-Butanol Market”.
North America N-Butanol Market
The North America n-butanol market is majorly driven by the budding butyl acrylate and glycol ether demand, which is primarily due to growing end applications of these products in the region, such as paints & coatings, adhesives, inks, etc. The declining shale gas prices in the region would enable the producers to take advantage of low prices of feedstock for the production of n-butanol, and develop a strong export market to meet the escalating demand across various regions including Asia-Pacific and Middle East.
The North America n-butanol market had been valued at $1.8 billion in the year 2013 and is expected to grow at 5.4% annually, and is projected to reach $2.3 billion by the end of the year 2018. The North America n-butanol market constitutes 26.7% of the global n-butanol market, and is poised to grow its market share to 24.6% by the end of year 2018.
Europe N-Butanol Market
The companies, owing to the increasing demand towards the end-use segments, will majorly affect the Europe market for n-butanol due to advancements and new investments. The n-butanol market in Europe had been valued at $1.2 billion in the year 2013, and is expected to grow at 4.9% annually. It is projected to reach $1.5 billion by the end of the year 2018. The n-butanol market in Europe constitutes 17.5% of Global N-Butanol market, and is poised to grow its market share to 15.8% by the end of year 2018.
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