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Butyl Glycol Market Size, Share & Industry Analysis, By Application (Paints & Coatings, Ink, Cleaners & Detergent, Chemicals & Petrochemicals, Others) Others and Regional Forecast, 2022-2029

Region : Global | Report ID: FBI102322 | Status : Ongoing

 

KEY INDUSTRY INSIGHTS

Butyl Glycol is one of the important E-series glycol ethers. It is colourless liquid at room temperature, has characteristic ether odour and is relatively less volatile that makes it popular solvent choice in paints & coatings industry. Besides, it is also used in printing ink, manufacturing of various chemicals, agrochemicals (specifically pesticides) and other petrochemical products.


On the basis of application, butyl glycol market is segmented into paints & coatings, ink, cleaners & detergent, chemicals & petrochemicals and others.


From a geographical standpoint, the market is categorised into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.


Key Market Driver -

Wide adoption in Paints & Coatings industry owing to its unique properties to fuel the market growth over the forecast period.

Key Market Restraint -

Potential Substitutes & volatility in the raw material prices to hamper the market growth.


Key market Drivers- Butyl Glycol is extensively used in paints & coatings and accounts around three-fourth of the global market. It acts as excellent coalescer, regulator and flow improver in paints & coatings. It is being widely adopted in water based paints due to variety of benefits. The Paints & Coatings industry is one of the highly regulated industries in the world that has transformed the industry over the years. However, water based paints are not subjected to any regulations in general. Water based paints are widely used for exterior walls and its demand is increasing owing to its eco-friendly nature which is expected to drive the butyl glycol market.   


Key market restraints- The volatility in the prices of the key raw materials affect the prices of butyl glycol too. The prices of butyl glycol have significantly decreased in the first quarter of 2019 which impacted the market growth. The drop in prices can be attributed to the fierce competition between the global players. The strong presence of substitutes in the market can adversely affect the market growth in the long run.      


Key Players Covered:


The global Butyl Glycol Market is fairly fragmented with the number of global titans operating in the market. Some of the key players in the global Butyl Glycol Market include- BASF SE, SASOL, The Dow Chemical Company, Shell Chemicals, Petronas, Dynamic (Nanjing) Chemical Industry, Sadara Chemical Company, LyondellBasell Industries N.V., India Glycol Limited, LOTTE Chemical CORPORATION, NIPPON NYUKAZAI CO., LTD., INEOS, Eastman Chemical Company and others.


Key Insights



  • New Advancements in Production Technologies

  • Key Trends in the market

  • New Product Launches, Expansions, Key Players

  • Regulatory Landscape

  • Porters Five Forces Analysis


Regional Analysis:


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On geographical basis, Butyl Glycol Market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia-Pacific accounts for lion’s share in the global butyl glycol market with over 50% of the market share. China remains the leading consumer of butyl glycol on the back of strong growths in the regional paints & coatings industry. North America is expected to witness moderate growth in the regional markets with the developments in the paints & coatings industry over the forecast period. Europe region accounts for second largest share in the global butyl glycol market and expected to grow in line with the global GDP. Latin America remains the amongst the regions of strong growth on the back of improving socio-political conditions in the region. Middle East & Africa is also expected to witness healthy growth in the butyl glycol market with the increasing market for paints & coatings.    


Segmentation


















 ATTRIBUTE


 DETAILS

By Application




  • Paints & Coatings

  • Ink, Cleaners & Detergent

  • Chemicals & Petrochemicals

  • Others



By Geography




  • North America (U.S., and Canada)

  • Latin America (Mexico, Brazil, and Rest of LATAM)

  • Europe (Germany, UK, France, Italy, Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea and Rest of Asia Pacific)

  • Middle East & Africa (Saudi Arabia, UAE, and Rest of Middle East & Africa)



 Key Industry Developments



  • July, 2018, Belgium, BASF SE, a chemical & specialty materials manufacturer headquartered in Germany, started with the capacity expansion of Ethylene oxide, a key raw material for the production of Butyl Glycol, at its Antwerp site. BASF is the largest ethylene oxide derivative manufacturer in the region with capacity of more than 845 kilotons.

  • June, 2017, Sadara chemicals, a joint venture of Saudi Aramco & Dow chemical company, started the production of butyl glycol and other derivatives at its new facility in Saudi Arabia. The Sadara is reported to be first manufacturer of butyl glycol in the region.


Butyl Glycol Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2021
  • 2018-2020

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