N-butanol forms an important feedstock for manufacturing chemicals such as butyl acrylate, glycol ethers, butyl acetate and plasticizers. It serves an important element in making direct solvent for varnishes, paints, coatings, resins, camphor, dyes, fats vegetable oils, waxes, shellac, rubbers, and alkaloids and among various industrial applications.
The market is driven by growing butyl acrylate manufacturing industry along with the rising market demand of the product in the Asia-Pacific region. Lack of product differentiation as a strategy by key market players along with negative trends related to compound DOP (Bis(2-Ethylhexyl) Phthalate) in regions such as Europe & North America are the factors that is restraining the market growth. The lack of demand & supply in China and rising investment in the downstream segment in Saudi Arabia along with strict regulations supporting the application of bio-based N-Butanol are key factors that will offer ample growth opportunities in the N-Butanol market across the globe. Maintaining a low economy of scale for small capacity plants along with fluctuations in raw material prices are the key market challenges that will hamper the growth of the market.
The report segments the market on the basis of applications and region.
On the basis of application, the market is segmented into butyl acrylate, glycol ethers, butyl acetate, direct solvent, plasticizers among others. On the basis of geography, the market is segmented into North America, Europe, APAC and Latin America, Middle East & Africa (LAMEA).
Key market players in this market are BASF SE, The Dow Chemical Company, BASF-YPC Ltd., OXO Corporation, Sasol Ltd., Formosa Plastics Corporation, Eastman Chemical Company, Oxichimie SAS, KH Neochem Co. Ltd and CNPC.
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