Butyl Glycol Market Growth Analysis, Opportunities, Forecast, Trends, Regional Outlook by 2029
The global butyl glycol market is set to gain momentum from its extensive usage as a solvent in the paints & coatings industry.This information is published by Fortune Business Insights™ in an upcoming report, The report further states that butyl glycol is a colorless liquid when exposed in the room temperature. It is considered to be one of the most significant E-series glycol ethers.
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What Does This Report Include?
The report aims to analyze the market by considering contributions, prospects, and growth trends. It presents detailed profiles of every key player operating in the market to analyze their core competencies in each segment. Apart from that, it ensures to help our clients better understand the competitive developments, namely, joint ventures, acquisitions, new product developments, agreements, and expansion of production facilities.
Drivers & Restraints-
Increasing Demand for Water-based Paints to Spur Growth
The paints and coatings industry is the highest user of butyl alcohol as it acts as an excellent flow improver, regulator, and coalesce. Hence, several companies are using it in water-based paints.The demand for such paints is increasing worldwide because of their environmentallyfriendly nature. They are majorly applied on exterior walls of buildings. However, the high cost of raw materials and strong competition between renowned companies may hamper the butyl alcohol market growth in the upcoming years.
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Enhancements in Socio-economic Conditions to Favor Growth in Latin America
Geographically, Asia Pacific currently accounts for more than 50%butyl glycol market share. This growth is attributable to the expansion of the paints and coatings industry in China. In North America, the market will grow moderately fueled by the development of the paints and coatings industry. Europe is set to remain in the second position in the near future. Improvements in socio-political conditionsare expected to boost the market in Latin America.
Key Players Focus on Capacity Expansion to Meet Surging Demand Globally
The global market for butyl glycolhouses a large number of companies that are currently aiming to fulfil the unmet demand for the chemical from several end-users across the globe. To do so, they are broadening their production capacities. Below are the two industry developments:
- July 2018: BASF expanded the production capacity of ethylene oxide at itsVerbund site in Belgium. It is a major raw material required to manufacture butyl glycol. The project also contains capacity expansions for numerous downstream derivatives.
- June 2017: Sadara Chemicalsstarted commercially producing butyl glycol ether (BGE) in Saudi Arabia for the first time. It will be soon refined into multiple specialty chemicals.
A list of all the renowned butyl glycol manufacturers operating in the global market:
- BASF SE
- The Dow Chemical Company
- Shell Chemicals
- Dynamic (Nanjing) Chemical Industry
- Sadara Chemical Company
- LyondellBasell Industries N.V.
- India Glycol Limited
- LOTTE Chemical Corporation
- NIPPON NYUKAZAI CO., LTD.
- Eastman Chemical Company
- Other key market players
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