Latest News- N-Butanol Market: Butyl acrylate is expected to lead the Application segment during 2024-2028
The N-Butanol Market is being driven by Rising demand for n-butanol as solvent
The N-Butanol Market is expected to grow at a CAGR of 6.1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1877.2 million. In the realm of industrial chemicals, n-Butanol stands out as a versatile and sustainable compound. This colorless, transparent, neutral liquid, characterized by its banana-like odor, can be derived from two primary sources: petrochemical feedstocks, such as propene, or biomass through fermentation. The latter process, utilizing sugars and the Clostridium microbe as a catalyst, yields 100% bio-based n-Butanol. Renowned for its eco-friendliness, this renewable alternative is increasingly favored in various industries, including cosmetics, personal care, textiles, and agrochemicals, due to its relatively lower toxicity. Moreover, it is deemed safe for consumption and is employed as a food additive in the food and beverage sector.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Butyl acrylate, Glycol ethers, Butyl acetate, Direct solvent, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in N-Butanol Market Research Report
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N-Butanol, also known as n-Butyl Alcohol or 1-Butanol, is a primary alcohol with various applications in industries. It serves as a solvent in solvent-based systems, reducing Volatile Organic Compounds (VOCs) emissions. Bio-based n-Butanol is a renewable chemical, used in the production of biofuels as a cleaner alternative. In coatings and adhesives, it is used as a chemical intermediate for butyl carboxylate, butyl acrylate, butyl acetates, glycol ethers, and other products. Additionally, it is used as a solvent in dyes, polishes, swelling agents, and plastics production.
The global specialty chemicals market encompasses businesses specializing in high-value-add chemicals utilized in the production of various industries' wide-ranging products. These include, but are not limited to, fine chemicals, additives, advanced polymers, and specialty coatings, adhesives, pigments, and sealants. According to Technavio, the market size is determined by the consolidated revenue of these manufacturers. Factors fueling market expansion include the increasing preference for specialty adhesives and sealants. This trend is particularly significant in sectors such as construction, where there is a growing focus on reducing Volatile Organic Compounds (VOCs) in Solvent-based systems. Bio-based n-Butanol, a renewable chemical, is gaining traction as a cleaner fuel and a key raw material in the production of Butyl Carboxylate, a critical ingredient in coatings and adhesives. This shift towards bio-based chemicals is expected to significantly contribute to the market's growth during the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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