(PRWEB) May 01, 2013
The report "N-Butanol Market By Applications (Butyl Acrylate, Butyl Acetate, Glycol Ethers, and Others) & Geography-Global Trends & Forecasts to 2018" defines and segments the global n-butanol market with analysis and forecasting of the global demand and revenue for n-butanol.
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N-butanol is an oxo alcohol which is majorly derived from propylene and syngas by oxo process. It is widely employed as a feedstock for the manufacturing of various chemicals including butyl acrylate, butyl acetate, glycol ethers, and plasticizers. It is also used as a direct solvent for paints, coatings, varnishes, resins, dyes, etc. The growth in these segments drives the demand of n-butanol globally. Among various application segments of n-butanol, butyl acrylate industry is the major consumer of n-butanol and the high growth in demand of n-butanol in near future is expected to be driven by this industry segment. Direct solvent application is another rapidly growing segment in various developing countries.
Asia-Pacific - the biggest market of n-butanol
Asia-Pacific, the biggest consumer of n-butanol, consumed almost half of its global share in 2012. N-butanol market in Asia-Pacific is majorly driven by high demand in China which consumed around 35% of the global n-butanol production in 2012.
Increased use of automotive paints and water-based coatings is driving the butyl acrylate market in China, which in turn is driving the demand of n-butanol. The region is a net importer of n-butanol. Hence, the market dynamics, in terms of revenue, are dependent on the n-butanol exporting regions.
Europe - a mature market of n-butanol
European N-Butanol Market is mature and is expected to grow at lowest CAGR among all the regions. Various market players of n-butanol are shifting their focus from Europe to Asia-Pacific as there is a wide demand-production gap in the Asia-Pacific region. North American market is moving towards maturity and the region is trying to increase its export market, mainly in the Asia-Pacific.
ROW to witness highest growth
Demand for n-butanol in ROW is expected to grow at the highest CAGR of 9.0% from 2013 to 2018, mainly driven by high investments in Saudi Arabia on butyl acrylate, butyl acetate, and glycol ethers manufacturing facilities. Government of Saudi Arabia has successfully designed its policies to attract various chemical giants in the country. Also, strategic location of the country and easy availability of raw materials for petrochemicals are other factors which attract companies to establish their manufacturing units in the country.
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