Rising Demand for Tert Butanol from End-Use Industries Escalate Market Growth
According to our latest market study on “Tert Butanol Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Purity (> 99 and ≤ 99), Application [Solvents and Intermediates, Ethanol Denaturants, MTBEs and ETBEs, Methylmethacrylates (MMAs), and Others], and End-Use Industry (Flavors and Fragrances, Paints and Coatings, Pharmaceuticals, and Others),” the market is projected to reach US$ 6,149.11 million by 2028 from US$ 4,955.64 million in 2021; it is expected to grow at a CAGR of 3.0% from 2021 to 2028. The report highlights key factors driving the market growth along with prominent market players and their developments in the market.
Tert butanol is produced commercially as a byproduct of isobutane during the propylene oxide production. Tert-butanol is used as a chemical intermediate in a variety of products. Further, it is primarily used as a solvent in various applications. It is also used as a paint remover, alcohol denaturant, and so on. Tert butanol is also used as an alkylating agent for aromatics and phenols, resulting in tert-butyl aromatics and tert-butyl esters, which are used as precursors in the synthesis of antioxidants, phenolic resins, pharmaceutical products, and perfumes.
Tert-butyl alcohol is used as a solvent in paints, lacquers, and varnishes; denaturant for ethanol and other alcohols; octane booster in gasoline; dehydrating agent in various chemical processes; and chemical intermediate in the production of methyl methacrylate and flotation agents, fruit essences, and perfumes. Further, butyl alcohols are used as solvents in paints, varnishes, natural and synthetic resins, vegetable oils, lacquers, camphor, gums, dyes, and alkaloids. They are also used in the manufacture of pharmaceuticals and chemicals, rubber and plastics, cement, safety glass, perfumes, artificial leather, shellac, photographic films, raincoats, and plastic fabrication. In addition, tert-butyl alcohol is used to make tert-butyl chloride, tert-butyl phenol, and isobutylene, as well as artificial musk and denatured alcohols. The compound also finds applications in the production of methyl methacrylate plastics and flotation devices. It is used as flavoring agent in food applications, and in the making of artificial musk (mainly due to its camphor-like aroma), fruit essences, and perfumes. Tert butanol is used in coatings for metal and paperboard food containers, industrial cleaning compounds. Such broad application range is fueling the tert butanol market growth.
Alfa Aesar; Evonik Industries Ag; Finar Limited; Kuraray Co., Ltd.; Lotte Chemical Titan Corporation; Lyondellbasell Industries Holdings B.V.; Merck Kgaa; Sisco Research Laboratories Pvt. Ltd.; Tiande Chemical Holdings Limited; Tokyo Chemical Industry Co., Ltd. (TCI) are among well-established players in the global tert butanol market. The major market players are adopting strategies such as product developments, plant expansions, and mergers and acquisitions to expand their footprint worldwide and meet the growing demand from end users. In 2020, Evonik announced an investment in three product areas—tert butanol, di-isobutene (DiB), and 3,5,5-trimethylhexanal (TMH). It announced the investment of ~US$ 17.72 million (Euro 15 million) in its C4 production network in Marl, which would boost its local isobutene derivative production capacity by more than 50% by December 2021.
Geographic Overview of Tert Butanol Market
Tert Butanol Market Size Global Forecast to 2028 | The Insight Partners
Download Free SampleTert Butanol Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Purity (> 99 and ≤ 99), Application ((Solvents and Intermediates, Ethanol Denaturants, MTBEs and ETBEs, Methylmethacrylates (MMAs), and Others)), and End-Use Industry (Flavors and Fragrances, Paints and Coatings, Pharmaceuticals, and Others)
Impact of COVID-19 Pandemic on Tert Butanol Market
The COVID-19 pandemic has drastically altered the status of the chemicals and industrial sectors, and consequently hindered the growth of the tert butanol market. The implementation of measures to combat the spread of SARS-CoV-2 has aggravated the situation. The sudden distortion in operational efficiencies and disruptions in value chains due to sudden shutdown of national and international boundaries have hampered the performance of the flavors and fragrances, paints and coatings, and pharmaceuticals industries, among others. Further, the pandemic also led to discontinuations in product orders and deliveries, along with cancellations and order backlogs. The significant decline in the growth of several sectors has led to lowered demand for tert butanol. However, the compound is gradually emerging as a preferred freeze desiccant in the biomedicals industry. Moreover, continuous surge in research activities necessitates the preservation of vaccines, blood samples, purified proteins, and many other biological materials, which is contributing to the tert butanol market growth. Tert-butanol is a solvent with high vapor pressure, and low toxicity and melting point, and it is a trending freeze-drying agent. Nevertheless, as the economies are planning to revive their operations, the demand for tert butanol is expected to rise globally. However, the focus on just-in-time production is another concerning factor hindering the market growth.
The report segments the global tert butanol market as follows:
Based on purity, the global tert butanol market is segmented into >99 and ≤99. On the basis of application, the market is segmented into solvents and intermediates, ethanol denaturants, MTBEs and ETBEs, methylmethacrylates (MMAs), and others. Based on end-use industry, the tert butanol market is segmented into flavors and fragrances, paints and coatings, pharmaceuticals, and others. By geography, market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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