Butyl Glycol Market Dynamics - 2021 to 2031
The Butyl Glycol Market is expected to register a CAGR of 5% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by end use (paints and coatings, printing inks and dyes, metalworking fluids, cleaning products and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Butyl Glycol Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Butyl Glycol Market Segmentation
End Use- Paints and Coatings
- Printing Inks and Dyes
- Metalworking Fluids
- Cleaning Products
Strategic Insights
Butyl Glycol Market Growth Drivers- Boosting Coatings Excellence: Due to its excellent solvency properties and the benefits that it brings to the products, butyl glycol is a preferred solvent in the composition of paints and coatings. There is a surge in demand for quality coatings due to the growth of the construction and automotive sectors which increases the intake of butyl glycol. With coatings becoming more durable and more pleasing to the eye, there will be more dependence on butyl glycol making it an important material in these applications.
- Expanding Personal Care Market: The personal care and cosmetics industry is another major consumer of butyl glycol. This is because it is a solvent and humectant that is found in many skin care, hair care, and cosmetic products. With consumers shifting their preferences towards the use of more effective and sophisticated personal care products, the market for butyl glycol has been expanding rapidly.
- Pharmaceutical Applications Rising: The pharmaceutical industry also uses butyl glycol in its operations. In this case, butyl glycol is used to dissolve or help stabilize particular drugs as part of the formulations. The increase in the unreachable demand for pharmaceuticals which is due to the ever-increasing aging population and health consciousness is also driving the appetite for butyl glycol.
- Technological Advancements in Butyl Glycol Production: The development of increased technology when it comes to the production of butyl glycol, a beneficial and sustainable production process is witnessed. Other innovations such as improved catalytic processes and the use of alternative feedstocks are also helping to improve the production processes and save the environment. Lower production costs are being achieved as a result of these technological advancements.
- Fostering Sustainability and Competitive Advantage in Butyl Glycol: One of the key trends is the emphasis on the production of solvents derived from bio-based sources, namely butyl glycol based on bio feedstock. Many companies are more focused on internal innovation for the purpose of producing butyl glycol from biological resources so as to sustain competitive advantage. And this trend does not only address the goals of sustainability but also provides room to develop unique positioning strategies for the market.
- Leveraging Technology for Operational Efficiency and Quality Control: In the butyl glycol market, technology and digitalization are being incorporated in the manufacturing and logistics process. Organizations are using automation, data analysis, and the IoT to assist in efficient operation. Such technologies allow a much more effective control over active management as monitoring of the production processes is achieved, which allows producers to control the quality of products they manufacture.
- Expanding Potential for Butyl Glycol in High-Performance Formulations: Manufacturers have a high-performance formulations with butyl glycol as a primary solvent. There is potential for changes in product formulations that may result in coatings, adhesives, and personal care products with more desirable attributes such as durability, stability, and user friendliness. To these advanced formulations where butyl glycol will be incorporated as a ingredient, the needs is bound to increase – hence presenting a high potential market.
- Industrialization and Urbanization Driving Butyl Glycol Demand: The growth in the level of industrialization and urbanization in the developing countries has been adequate to enhance the use of butyl glycol. This trend provides an opportunity for manufacturers to build production plants or to form partnership ventures. Introducing new products that meet the local needs will create new customers for the company and expansion in the butyl glycol sector.
- Strategic Partnerships for Innovation: For the manufacturers of butyl glycol, entering into partnership with research agencies and technology companies would be a way to align their production with modern trends. Without using internal resources, companies are able to speed up the reachable market of new products and technologies based on butyl glycol. With such a scheme, there will surely be improvements in product characteristics and ecological safety.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Butyl Glycol Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Butyl Glycol Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Development of biobased products is expected to be the key trends
Based on end use industry, the paints and coatings segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the butyl glycol market due to growth in the paints and coatings as well as automotive industry
Increasing demand in the paints and coatings industry is driving the market growth
Asia Pacific Petrochemicals Co Ltd; BASF SE; Dow Chemical Company; Eastman Chemical Corporation; Lyondellbasell Industries NV are some of the key players operating in the butyl glycol market
The Butyl Glycol Market is estimated to witness a CAGR of 5% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Butyl Glycol Market - By Functions
1.3.2 Butyl Glycol Market - By End-Use Industry
1.3.3 Butyl Glycol Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BUTYL GLYCOL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. BUTYL GLYCOL MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. BUTYL GLYCOL MARKET - GLOBAL MARKET ANALYSIS
6.1. BUTYL GLYCOL - GLOBAL MARKET OVERVIEW
6.2. BUTYL GLYCOL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BUTYL GLYCOL MARKET - REVENUE AND FORECASTS TO 2028 - FUNCTIONS
7.1. OVERVIEW
7.2. FUNCTIONS MARKET FORECASTS AND ANALYSIS
7.3. SOLVENTS
7.3.1. Overview
7.3.2. Solvents Market Forecast and Analysis
7.4. CHEMICAL INTERMEDIATES
7.4.1. Overview
7.4.2. Chemical Intermediates Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. BUTYL GLYCOL MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
8.1. OVERVIEW
8.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3. PAINTS AND COATINGS
8.3.1. Overview
8.3.2. Paints and Coatings Market Forecast and Analysis
8.4. PRINTING INKS
8.4.1. Overview
8.4.2. Printing Inks Market Forecast and Analysis
8.5. METALWORKING FLUIDS
8.5.1. Overview
8.5.2. Metalworking Fluids Market Forecast and Analysis
8.6. ELECTRICAL AND ELECTRONICS
8.6.1. Overview
8.6.2. Electrical and Electronics Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. BUTYL GLYCOL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Butyl Glycol Market Overview
9.1.2 North America Butyl Glycol Market Forecasts and Analysis
9.1.3 North America Butyl Glycol Market Forecasts and Analysis - By Functions
9.1.4 North America Butyl Glycol Market Forecasts and Analysis - By End-Use Industry
9.1.5 North America Butyl Glycol Market Forecasts and Analysis - By Countries
9.1.5.1 United States Butyl Glycol Market
9.1.5.1.1 United States Butyl Glycol Market by Functions
9.1.5.1.2 United States Butyl Glycol Market by End-Use Industry
9.1.5.2 Canada Butyl Glycol Market
9.1.5.2.1 Canada Butyl Glycol Market by Functions
9.1.5.2.2 Canada Butyl Glycol Market by End-Use Industry
9.1.5.3 Mexico Butyl Glycol Market
9.1.5.3.1 Mexico Butyl Glycol Market by Functions
9.1.5.3.2 Mexico Butyl Glycol Market by End-Use Industry
9.2. EUROPE
9.2.1 Europe Butyl Glycol Market Overview
9.2.2 Europe Butyl Glycol Market Forecasts and Analysis
9.2.3 Europe Butyl Glycol Market Forecasts and Analysis - By Functions
9.2.4 Europe Butyl Glycol Market Forecasts and Analysis - By End-Use Industry
9.2.5 Europe Butyl Glycol Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Butyl Glycol Market
9.2.5.1.1 Germany Butyl Glycol Market by Functions
9.2.5.1.2 Germany Butyl Glycol Market by End-Use Industry
9.2.5.2 France Butyl Glycol Market
9.2.5.2.1 France Butyl Glycol Market by Functions
9.2.5.2.2 France Butyl Glycol Market by End-Use Industry
9.2.5.3 Italy Butyl Glycol Market
9.2.5.3.1 Italy Butyl Glycol Market by Functions
9.2.5.3.2 Italy Butyl Glycol Market by End-Use Industry
9.2.5.4 United Kingdom Butyl Glycol Market
9.2.5.4.1 United Kingdom Butyl Glycol Market by Functions
9.2.5.4.2 United Kingdom Butyl Glycol Market by End-Use Industry
9.2.5.5 Russia Butyl Glycol Market
9.2.5.5.1 Russia Butyl Glycol Market by Functions
9.2.5.5.2 Russia Butyl Glycol Market by End-Use Industry
9.2.5.6 Rest of Europe Butyl Glycol Market
9.2.5.6.1 Rest of Europe Butyl Glycol Market by Functions
9.2.5.6.2 Rest of Europe Butyl Glycol Market by End-Use Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Butyl Glycol Market Overview
9.3.2 Asia-Pacific Butyl Glycol Market Forecasts and Analysis
9.3.3 Asia-Pacific Butyl Glycol Market Forecasts and Analysis - By Functions
9.3.4 Asia-Pacific Butyl Glycol Market Forecasts and Analysis - By End-Use Industry
9.3.5 Asia-Pacific Butyl Glycol Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Butyl Glycol Market
9.3.5.1.1 Australia Butyl Glycol Market by Functions
9.3.5.1.2 Australia Butyl Glycol Market by End-Use Industry
9.3.5.2 China Butyl Glycol Market
9.3.5.2.1 China Butyl Glycol Market by Functions
9.3.5.2.2 China Butyl Glycol Market by End-Use Industry
9.3.5.3 India Butyl Glycol Market
9.3.5.3.1 India Butyl Glycol Market by Functions
9.3.5.3.2 India Butyl Glycol Market by End-Use Industry
9.3.5.4 Japan Butyl Glycol Market
9.3.5.4.1 Japan Butyl Glycol Market by Functions
9.3.5.4.2 Japan Butyl Glycol Market by End-Use Industry
9.3.5.5 South Korea Butyl Glycol Market
9.3.5.5.1 South Korea Butyl Glycol Market by Functions
9.3.5.5.2 South Korea Butyl Glycol Market by End-Use Industry
9.3.5.6 Rest of Asia-Pacific Butyl Glycol Market
9.3.5.6.1 Rest of Asia-Pacific Butyl Glycol Market by Functions
9.3.5.6.2 Rest of Asia-Pacific Butyl Glycol Market by End-Use Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Butyl Glycol Market Overview
9.4.2 Middle East and Africa Butyl Glycol Market Forecasts and Analysis
9.4.3 Middle East and Africa Butyl Glycol Market Forecasts and Analysis - By Functions
9.4.4 Middle East and Africa Butyl Glycol Market Forecasts and Analysis - By End-Use Industry
9.4.5 Middle East and Africa Butyl Glycol Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Butyl Glycol Market
9.4.5.1.1 South Africa Butyl Glycol Market by Functions
9.4.5.1.2 South Africa Butyl Glycol Market by End-Use Industry
9.4.5.2 Saudi Arabia Butyl Glycol Market
9.4.5.2.1 Saudi Arabia Butyl Glycol Market by Functions
9.4.5.2.2 Saudi Arabia Butyl Glycol Market by End-Use Industry
9.4.5.3 U.A.E Butyl Glycol Market
9.4.5.3.1 U.A.E Butyl Glycol Market by Functions
9.4.5.3.2 U.A.E Butyl Glycol Market by End-Use Industry
9.4.5.4 Rest of Middle East and Africa Butyl Glycol Market
9.4.5.4.1 Rest of Middle East and Africa Butyl Glycol Market by Functions
9.4.5.4.2 Rest of Middle East and Africa Butyl Glycol Market by End-Use Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Butyl Glycol Market Overview
9.5.2 South and Central America Butyl Glycol Market Forecasts and Analysis
9.5.3 South and Central America Butyl Glycol Market Forecasts and Analysis - By Functions
9.5.4 South and Central America Butyl Glycol Market Forecasts and Analysis - By End-Use Industry
9.5.5 South and Central America Butyl Glycol Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Butyl Glycol Market
9.5.5.1.1 Brazil Butyl Glycol Market by Functions
9.5.5.1.2 Brazil Butyl Glycol Market by End-Use Industry
9.5.5.2 Argentina Butyl Glycol Market
9.5.5.2.1 Argentina Butyl Glycol Market by Functions
9.5.5.2.2 Argentina Butyl Glycol Market by End-Use Industry
9.5.5.3 Rest of South and Central America Butyl Glycol Market
9.5.5.3.1 Rest of South and Central America Butyl Glycol Market by Functions
9.5.5.3.2 Rest of South and Central America Butyl Glycol Market by End-Use Industry
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. BUTYL GLYCOL MARKET, KEY COMPANY PROFILES
11.1. ANSHIKA POLYSURF LTD.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ASIA PACIFIC PETROCHEMICALS CO LTD
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BASF SE
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. DOW CHEMICAL COMPANY
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. EASTMAN CHEMICAL CORPORATION
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. LOTTE CHEMICAL CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. LYONDELLBASELL INDUSTRIES N.V.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. NIPPON NYUKAZAI CO. LTD.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SADARA CHEMICAL COMPANY
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SASOL
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Anshika Polysurf Ltd.
2. Asia Pacific Petrochemicals Co Ltd
3. BASF SE
4. Dow Chemical Company
5. Eastman Chemical Corporation
6. Lotte Chemical Corporation
7. Lyondellbasell Industries N.V.
8. Nippon Nyukazai Co. Ltd.
9. Sadara Chemical Company
10. Sasol
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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