H1 2023: The largest n-butanol producers in H1 2023 were Formosa Plastics Corporation, Luxi Chemical Group Co., Ltd, Anqing Refining & Chemical Co., Ltd. However, Formosa Plastics Corporation was the top producer of n-Butanol in the region. Regionally, Asia Pacific was the leading consumer of n-Butanol in H1 2023 across the globe. However, the price of n-Butanol was fluctuating throughout H1 2023 in the Asia Pacific region. In the first three months of 2023, n-Butanol prices decreased in the nations. Due to sluggish downstream demand from the coatings and solvent industries, n-butanol prices went down in these months in the Asian countries. Additional factors like, low operation rates of the downstream end-user industries and and an oversupply of propylene feedstock supported the low prices of n-Butanol. Market participants had reduced inventories meanwhile the economic recovery slowed. The market scenario soon changed as the n-Butanol prices increased in April 2023 in the Asia Pacific region. The rise in the prices was supported by the increase in the raw material prices in the Chinese market. However, n-Butanol prices fell in May 2023 in the Chinese market. The hazy demand from the downstream coating sector led to poor pricing patterns. Additionally, the price of feedstock propylene in China has drastically decreased from May to June Due to the Dragon Boat Festival, temporary prices increased during June in the Chinese market. This led to a restricted tight spot flow of the product and affected pricing.
The Asia Pacific n-Butanol market has expanded to reach approximately 2700 thousand tonnes in 2022 and is expected to grow at a healthy CAGR of 4.05% during the forecast period until 2032.
n-butanol is at is frequently utilised as the main component in a variety of enterprises. Because it is easily soluble in solvents like alcohols, ethers, glycols, and hydrocarbons, n-butanol has numerous industrial uses. Paint, varnishes, resins, gums, vegetable oils, colours, alkaloids, and both natural and synthetic resins can all be dissolved in n-butanol. It is used to produce many chemicals like n-butyl acrylate, n butyl acetate. The liquid n-Butyl Acetate has a fruity smell and is transparent and colourless. It is utilised in resins, nail paint removers, lacquers, scents, and photographic film.
The demand for paints and coatings is likely to increase due to the increase in construction projects and infrastructure development around the world, which will most likely cause the n-butanol market to expand in the forecast period. Due to the rapidly developing nations like China and India, there will be an increase in the construction industry, which will lead to new industrial projects and a huge demand for paints and coatings for use in buildings and other infrastructure. This is expected to result in an increase in the demand for n-Butanol in the area. The n-Butanol market is predicted to be driven by the demand for n-Butanol for the synthesis of significant chemicals like n-Butyl Acrylate, which is further employed in numerous sectors such as paints & coatings, lubricants, and varnishes. The Asia Pacific n-Butanol market is anticipated to reach 4000 thousand tonnes by 2032.
Based on region, Asia Pacific region dominates the global n-Butanol market. In the year 2022, this region consumed approximately 35% of the Asia Pacific n-Butanol. Asia Pacific n-Butanol is divided based on location into China, South Korea, India, Japan, and Rest of APAC. Among these, China is the biggest consumer of n-Butanol followed by South Korea.
Based on the end-use, the Asia Pacific n-Butanol market is segregated into n-butyl acrylate, n butyl acetate, Direct Solvent, Plasticizer, and Others. However, the n-butyl acetate industry is dominating the n-butanol market and accounted a market share of approximately 38% in 2022. Due to its low volatility, normal butyl acetate is most frequently used in the manufacturing of lacquers and paints. It can also be used to create synthetic leather, plastic adhesives, rigid coatings, and topcoats. It is frequently employed as a solvent or an extraction agent for processing oils and coatings in the pharmaceutical business. Lubricants, intermediates, fruit flouring, and different additives are a few other uses in the sector.
n-butyl acetate is a transparent solvent with excellent solubility for cellulose nitrate, plastics, polymers, and hydrocarbons. It is employed in paint, ink, chemical, and leather industries. Another derivative of n-butanol, n-butyl acrylate is widely employed in coatings to provide stability at low-temperature and stability and also used in various industries like paints, textiles, paper, adhesives, inks, fiber, and rubber.
Major players in the production of Asia Pacific n-Butanol are Formosa Plastics Corporation, Luxi Chemical Group Co., Ltd, Anqing Refining & Chemical Co., Ltd., Liaoning Yuantai Petrochemical Co., Ltd., Yankuang Guotai Acetyl Chemical Co., Ltd., Lihuayi Group Co. Ltd., PetroChina Jilin Petrochemical Company, BASF PETRONAS Chemicals Sdn. Bhd., Green Biologics Ltd., Shandong Haulu Hengsheng chemical, Jiangsu Huachang Chemical Co., Ltd., and others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of n-Butanol which covers production, demand and supply of N-Butanol market in the globe.
• To analyse and forecast the market size of n-Butanol
• To classify and forecast Asia Pacific n-Butanol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of n-Butanol market in the globe.
To extract data for Asia Pacific n-Butanol market, primary research surveys were conducted with n-Butanol manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Asia Pacific n-Butanol market over the coming years.
ChemAnalyst calculated n-Butanol demand in the globe by analyzing the historical data and demand forecast which was carried out considering the demand of n-Butanol by the end-user industries across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• n-Butanol manufacturers and other stakeholders
• Organizations, forums and alliances related to n-Butanol distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as n-Butanol manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Asia Pacific n-Butanol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
2700 thousand tonnes
Market size Volume by 2032
4000 thousand tonnes
Growth Rate
CAGR of 4.05% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (n-butyl acrylate, n butyl acetate, Direct Solvent, Plasticizer, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
China, South Korea, India, Japan, and Rest of APAC
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of n-Butanol market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for n-Butanol.
3. Capacity By Location
To better understand the regional supply of n-Butanol by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of n-Butanol by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (n-butyl acrylate, n butyl acetate, Direct Solvent, Plasticizer, and Others) are creating a market and the forecast for the growth of the n-Butanol market.
7. Demand by Region
Analyzing the change in demand of N-Butanol in different regions, i.e., China, South Korea, India, Japan, and Rest of APAC, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell n-Butanol. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of n-Butanol.
10. Company Share
Figure out what proportion of the market share of n-Butanol is currently held by leading players across the globe.
11. Country-wise Export
Get details about quantity of n-Butanol exported by major countries.
12. Country-wise Import
Get details about quantity of n-Butanol imported by major countries.
13. Manufacturing Process
Discover insights into the intricate manufacturing process of n-Butanol.
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What is the expected Asia Pacific market size of n-Butanol in terms of volume for 2032?
Ans:
The Asia Pacific market size of n-Butanol is expected to grow to reach approximately 4000 thousand tonnes by 2032.
Q2.
Which region is dominating the Asia Pacific N-Butanol market?
Ans:
China is dominating the Asia Pacific n-Butanol market.
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