H1 2023: The largest producers of Butyl Glycol on a global scale in H1 2023 were Dow Chemical Company, Sadara Chemical Company, and BASF SE. Geographically, Asia Pacific region was the leading consumer of Butyl Glycol among all the other regions. In the first three months of 2023, this region saw an upward trend in the price of butyl glycol. In the Indian market, the downstream paint and coatings industries imposed a high demand for the product. Due to inability to meet downstream industries’ demand for Butyl Glycol, the prices in the Indian market increased dramatically. However, from April 2023, butyl glycol prices began to fall in Asia. It was as a result of low costs for upstream n-Butanol and ethylene oxide. The pricing trend was supported by the weak demand from downstream sectors in the Asian market. On the other hand, Europe experienced an overall bearish market segment for Butyl Glycol in H1 2023. Due to the low-cost pressure from feedstock n-butanol, the price trend for butyl glycol remained low in the region. The demand from downstream Paints Coatings & Inks industry for the product was impeded by high lending rates and inflation. Furthermore, due to abundance of butyl glycol in the European market, the producers provided cheap prices of butyl glycol. Demand frequently declined as the interest rates rose in Europe, which had negative effect on the paint & coatings sector.
The global Butyl Glycol market stood around 850 thousand tonnes in 2022 and is expected to grow at a CAGR of 3.95% during the forecast period until 2035.
Butyl Glycol is an organic solvent with a chemical formula of C6H14O2. Ethylene oxide reacts with alcohol like butanol in the presence of a catalyst to form butyl glycol. This process is known as ethoxylation. Butyl Glycol appears as a colorless liquid and is miscible with water and other solvents. Butyl Glycol has low volatility making it a popular solvent in the paint industry. Other applications of butyl Glycol include usage as an ingredient of drilling and cutting oils, inks, cleaners, resins, lubricants, production of butyl glycol acetate, and as a precursor for producing plasticizers.
The primary market driving factor for the Butyl Glycol market is the production of paints coatings, and inks. Because of the advantageous properties of Butyl Glycol, including low volatility and high miscibility, butyl glycol is being used in a variety of paint and coating applications as a solvent and coupling agent. It is widely used in the production of paints to speed up drying time and ensures smooth coat of the paint on the surface. In 2022, the Paints Coatings & Inks industry consumed about 50% of the total Butyl Glycol market. With rapid industrialization, the demand of paints and coatings for architectural applications is anticipated to swell the demand of Butyl Glycol in the forecast period. The total global Butyl Glycol market demand is expected to reach around 1400 thousand tonnes by 2035.
Based on region, Asia Pacific dominates as a consumer across the globe. The Butyl Glycol demand by the Asia Pacific. High demand for items like paints and coatings due to rapidly expanding building activities and future significant infrastructure projects in developing countries situated in Asia is anticipated to soar the Butyl Glycol demand in this region. Europe also stands as one of the biggest consumers of Butyl Glycol Moreover, the demand for Butyl Glycol is expected to rise in South America in the forecast period.
Based on the end-user industry, the global Butyl Glycol market is segmented into Paints Coatings & Inks, Intermediate Chemicals, Detergent, Lubricants, and others. The Paints Coatings & Inks industry is dominating the Butyl Glycol market and is anticipated to grow further. The need for butyl glycol in this segment is being driven by an increase in the demand for paints & coatings for a variety of applications across numerous end-use industries, including automotive, construction, industrial, and others. Another significant consumer of Butyl Glycol global market is the Intermediate Chemicals industry, whose consumption of Butyl Glycol is anticipated to double by the forecast period. The Lubricant Sector is expected to soar in the forecast period.
Major producers in the production of Global Butyl Glycol market are Dow Chemical Company, Sadara Chemical Company, BASF SE, Sasol Ltd, Ineos oxide, Lyondell basell, PETRONAS Chemicals, Oriental Union Chemical Corporation, and Indian Glycol limited.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2035
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Objective of the Study:
• To assess the demand-supply scenario of Butyl Glycol which covers production, demand and supply of Butyl Glycol market in the globe.
• To analyse and forecast the market size of Butyl Glycol
• To classify and forecast Global Butyl Glycol market based on end-use and regional distribution.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., of Butyl Glycol market in the globe.
To extract data for Global Butyl Glycol market, primary research surveys were conducted with Butyl Glycol 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 Global Butyl Glycol market over the coming years.
ChemAnalyst calculated Butyl Glycol demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production raw material to produce Butyl Glycol. 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:
• Butyl Glycol manufacturers and other stakeholders
• Organizations, forums and alliances related to Butyl Glycol 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 Butyl Glycol 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, Global Butyl Glycol 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
850 thousand tonnes
Market size Volume by 2035
1400 thousand tonnes
Growth Rate
CAGR of 3.95% from 2023 to 2035
Base year for estimation
2023
Historical Data
2015 – 2022
Forecast period
2024 – 2035
Quantitative units
Demand in thousand tonnes and CAGR from 2022 to 2035
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, Company Share, Foreign Trade, Manufacturing Process, Policy and Regulatory Landscape,
Segments covered
By End-Use: (Paints Coatings & Inks, Intermediate Chemicals, Detergent, Lubricants, and others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What is the expected global market size of Butyl Glycol in terms of volume for 2035?
Ans:
The global market size of Butyl Glycol is expected to reach approximately 1400 thousand tonnes by 2035, and it is expected to further expand with a CAGR of 3.95%.
Q2.
What are the major end-use industries of Butyl Glycol?
Ans:
Butyl Glycol is used in various end use industries Paints Coatings & Inks, Intermediate Chemicals, Detergent, Lubricants, and others
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