Butyl Glycol Market: Global Industry Analysis and Forecast (2023-2029)

Butyl Glycol Market was valued at US$ 871 Mn. in 2022. Global Butyl Glycol Market size is estimated to grow at a CAGR of 5% over the forecast period.
Butyl Glycol Market Overview:
The Butyl glycol, commonly known as 2-butoxyethanol, is a pleasant ether-like chemical molecule. Butyl ether or ethylene glycol are other names for it. It is a low-cost, non-volatile material used in a variety of industrial and residential applications. Because of its non-volatile nature and cost-effectiveness, the chemical has minor surface-active characteristics and can also be utilized as a solvent.

COVID-19 has had an unprecedented and devastating worldwide impact, with butyl glycol demand declining across all regions as a result of the pandemic. According to our calculations, the global market will expand by 0.4 per cent less in 2022. The abrupt increase in CAGR is due to the demand and expansion of this market, which will return to pre-pandemic levels once the pandemic is ended.To know about the Research Methodology :- Request Free Sample Report

2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysis, especially with the impact of lockdown by region.
Butyl Glycol Market Dynamics:
Butyl Glycol is used in a wide range of markets, where the chemical finds multiple applications such as in coats and paintings market, and industrial cleaners’ market. The growth of the market size of these markets correlates positively with the growth of the Butyl Glycol Market.

The rise in demands from coatings and paints manufacturers:

Butyl Glycol is a raw ingredient used in the production of a wide range of products, including polyester fibres for clothing, carpets, upholstery, pillows, and fibreglass. These products are also utilized in the production of polyethylene terephthalate and other goods. The majority of the products produced are recyclable and cost-effective. These characteristics make it a long-term option, resulting in increased demand for butyl glycol.

Increased application as a cleaning agent:

Butyl glycol is commonly utilized in cleaning and sterilizing chemicals and goods because of its surface-active characteristics. It's a common element in both industrial and household cleaning products. Because the compound includes polar and nonpolar ends, it eliminates dirt and grease effectively. It's also a common ingredient in drilling stabilizers, fracturing fluids, and dispersion agents for water and oil-based hydraulic fracturing. The market is predicted to rise due to rising demand for the chemical as a surface-active component.

Toxicity and Replacements key restraints that may hamper growth:

The toxicity of the chemical is the key hindrance to its growth. Short-term exposure to butyl glycol can cause pulmonary edema or necrosis, while long-term exposure can cause nausea, anorexia, anemia, and unfavorable reproductive problems, among other things. Stringent regulations and control of substances are the key reasons that may affect the growth of the market for Butyl Glycol negatively. The rising prices of the chemical are also a key factor that may force corporates to look for alternatives.
Butyl Glycol Market Segment Analysis:
Based on the Application, the Butyl Glycol Market is segmented into Solvent and Chemical Intermediate. The solvent category held over 74.7 per cent of the market in 2022, which can be attributed to its widespread use due to its lower cost and volatility. Because it is also employed as a chemical intermediary in the production of a variety of important chemicals, the chemical intermediate application accounts for the second-highest share of the butyl glycol market. The paints and coatings industry's extensive usage of solvents is the key driver influencing segment growth.

Based on the End-User, the Butyl Glycol Market is segmented into paints & coatings, printing inks and electrical & electronics. Butyl glycol is a common ingredient in inks and coatings. The global butyl glycol market is driven by rising demand for paints and coatings in developing economies for the construction of residential and commercial projects such as industrial towers and residences. As a result, the Paints and Coatings category dominated the market in 2022, and this trend is expected to continue throughout the forecast period.
Regional Insights:
Historically, North America has been a major producer and consumer of butyl glycol. In 2022, the United States dominated the North American butyl glycol market. During the forecast period, the market in the Asia Pacific is both the largest in size and is expected to grow at significant rate. During the forecast period, the market in countries like China, India, and Indonesia is expected to grow rapidly. The market in the region is being driven by rising industrialisation and infrastructure development. Cleaning solutions containing butyl glycol are used for house cleaning in developing countries with low and middle-income individuals. The Europe market is predicted to grow because of the presence of a large manufacturing base and high demand for solvents.

The objective of the report is to present a comprehensive analysis of the global Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Butyl Glycol Market dynamic, structure by analyzing the market segments and projecting the Butyl Glycol Market size. Clear representation of competitive analysis of key players by Application, End-User, financial position, product portfolio, growth strategies, and regional presence in the Butyl Glycol Market make the report investor’s guide.
Butyl Glycol Market Scope: Inquire before buying



Butyl Glycol Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 871 Mn.


Forecast Period 2023 to 2029 CAGR:
5%
Market Size in 2029:
US $ 1226.28 Mn.


 Segments Covered:
by Application
Solvent
Chemical Intermediate


by End-User
Paints and Coatings
Printing Inks
Electrical and Electronics



By Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Butyl Glycol Market Key Players
1. Anshika Polysurf Ltd. (India)
2. Nippon Nyukazai Co. Ltd. (Japan)
3. Sasol Ltd. (South Africa)
4. Lyondell Basell Industries N.V. (Netherlands)
5. Eastman Chemical Corporation (U.S.)
6. Asia Pacific Petrochemicals Co Ltd (Thailand)
7. Dow Chemical Company (U.S.)
8. BASF SE (Germany)
9. INEOS (U.K)
10. Solventis Ltd (U.K.)
11. Lotte Chemical Corporation
12. KH Chemicals
13. Paras Dyes and Chemicals (India)
14. Beijing East Guangming Chemical (China)
15. Qingdao San lianxiang Chemical (China)

Frequently Asked Questions:

1. Which region has the largest share in Global Butyl Glycol Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Butyl Glycol Market?
Ans: The Global Butyl Glycol Market is growing at a CAGR of 5% during forecasting period 2023-2029.

3. What is scope of the Global Butyl Glycol market report?
Ans: Global Butyl Glycol Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Butyl Glycol market?
Ans: The important key players in the Global Butyl Glycol Market are – Anshika Polysurf Ltd. (India), Nippon Nyukazai Co. Ltd. (Japan), Sasol Ltd. (South Africa), Lyondell Basell Industries N.V. (Netherlands), Eastman Chemical Corporation (U.S.), Asia Pacific Petrochemicals Co Ltd (Thailand), Dow Chemical Company (U.S.), BASF SE (Germany), INEOS (U.K), Solventis Ltd (U.K.), Lotte Chemical Corporation, KH Chemicals, Paras Dyes and Chemicals (India), Beijing East Guangming Chemical (China), and Qingdao San lianxiang Chemical (China)

5. What is the study period of this market?
Ans: The Global Butyl Glycol Market is studied from 2022 to 2029.