Global n-Butanol Market Report 2024: Market Insights And Future Outlook

The Business Research Company's n-Butanol Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 19, 2024 /EINPresswire.com/ -- The global n-butanol market is experiencing strong growth, with its size expected to increase from $3.37 billion in 2023 to $3.55 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.6%. Despite the challenges of the past few years, including economic fluctuations and global disruptions, the market is anticipated to reach $4.45 billion by 2028 at a compound annual growth rate (CAGR) of 5.8%, driven by the rising demand for bio-based chemicals and advancements in production technologies.

Growing Demand in Construction Industry Fuels Market Expansion
The construction industry is a major driver for the n-butanol market, with its demand for the chemical expected to grow substantially. n-Butanol is integral to construction due to its role as a solvent in coatings and adhesives, an intermediate in chemical synthesis, and a sustainable fuel for construction equipment. This is particularly relevant given the recent increase in construction spending. According to the Bureau of the Census, US construction spending reached an annual rate of $2,083.9 billion in March 2024, a 9.6% increase compared to March 2023, underscoring the significant role of n-butanol in enhancing construction efficiency and sustainability.

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Major Companies and Innovations in the Market
Key players in the n-butanol market include China National Petroleum Corporation, BASF SE, Grupa Azoty, and The Dow Chemical Company, among others. These companies are actively developing innovative solutions to enhance product performance. For instance, BPCL Kochi Refinery launched ISOBUTANOL (I-Butanol) in August 2021, a new isomer of n-butanol with diverse applications in plasticizers, solvents, adhesives, and coatings. This advancement highlights the industry's commitment to expanding its product offerings and meeting evolving market demands.

Trends Shaping the Future of n-Butanol
Several trends are expected to influence the n-butanol market's growth. Advancements in production technologies, increasing adoption of sustainable chemical manufacturing practices, and a rising focus on reducing carbon footprints are pivotal. Moreover, there is a notable increase in investments in research and development, aimed at improving n-butanol's efficiency and expanding its applications across various industries.

Market Segmentation
The n-butanol market is segmented as follows:
• By Grade: Pharmaceuticals, Industrial, Chemicals
• By Production Process: Oxyhydrogenation of Propylene, Butane Oxidation, Fermentation of Biomass
• By Application: Butyl Acrylate, Butyl Acetate, Glycol Ethers, Direct Solvent, Plasticizers, Other Applications
• By End-Use Industry: Paints and Coatings, Chemicals and Petrochemicals, Textiles, Agriculture, Buildings and Constructions, Food and Beverages, Transportation, Pharmaceuticals

Regional Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the n-butanol market in 2023. However, North America is expected to be the fastest-growing region in the forecast period, driven by increasing industrial activities and a robust manufacturing sector.

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n-Butanol Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The n-Butanol Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on n-butanol market size, n-butanol market drivers and trends, n-butanol market major players, competitors' revenues, market positioning, and market growth across geographies. The n-butanol market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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