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(IT-NEWSWIRE.COM, August 30, 2021 ) The global n-Butanol market size is estimated at USD 3.1 billion in 2020 and is projected to reach USD 4.0 billion by 2025, at a CAGR of 5.0%. The market is driven by the growing demand for paints & coatings in the building and construction industry.
n-Butanol is a C4 alcohol produced by either petrochemical or biological processes. The biological process includes the fermentation of sugars derived from corn and other agricultural crops. The fermentation is called the acetone-butanol-ethanol process. Petrochemically, n-Butanol is produced from propylene. The petrochemical process includes hydroformylation (oxo process) of propylene to butyraldehyde and then hydrogenation of butyraldehyde to n-ButanolBASF (Germany), The DOW Chemical Company (US), Eastman (US), OQ Chemicals (Germany), SASOL (South Africa) have a strong emphasis on using different strategies to maintain their competitive position in the market.
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Based on application, the market can be segmented as butyl acrylate, butyl acetate, glycol ethers, direct solvent, plasticizers, and othersButyl acrylate is the largest application of n-Butanol owing to its increasing use in the composition of various copolymers. These copolymers are used in applications such as resins and dispersions for paints, aqueous dispersions for fabrics, varnishes, inks, glues, and adhesives. They can also be used in the production of textile & paper and the synthesis of plastics and other chemicals. Therefore, the increasing growth of paints & coatings, adhesives, textile, plastic, paper, and other industries also drives the consumption of butyl acrylate. Hence, the growing construction activities and infrastructural development owing to the increasing disposable income and a better standard of living of consumers in emerging economies play a pivotal role in the growth of the butyl acrylate application and, in turn, boost the demand for n-butanol.
APAC is the largest market, in terms of value, of the overall market in 2019. The market growth is primarily attributed to the growing population; increasing demand for n-butanol in the formulation of butyl acrylate, butyl acetate, glycol ethers, and plasticizers; and its use as a direct solvent. The market growth in this region is also attributed to higher growth prospects of n-butanol in the automotive application. The growth in industries such as construction, pharmaceuticals, textile, paints & coatings, and automotive in APAC is also driving the demand for n-butanol in this region. Automotive production in China, India, Japan, Malaysia, and South Korea accounted for more than 50% of the vehicle production in APAC. Apart from these, continuous infrastructural development in these countries would boost the demand for n-butanol in the region.
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The growing demand for better construction materials is increasing the demand for n-Butanol in these industries. Residential and commercial construction is the major contributor to the market size for n-Butanol based systems. Residential construction grew significantly in the past few years owing to factors such as increasing disposable incomes, changing lifestyle, growing demand for single family homes, ease of financing, and increased investments.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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