The global N-Butanol market is forecast to be worth around $9.4 billion by the end of 2018. Asia-Pacific, the biggest consumer of n-butanol, consumed almost half of its global share in 2012. N-butanol market in Asia-Pacific is majorly driven by high demand in China which consumed around 35% of the global n-butanol production in 2012.
Increased use of automotive paints and water-based coatings is driving the butyl acrylate market in China, which in turn is driving the demand of n-butanol. The region is a net importer of n-butanol. Hence, the market dynamics, in terms of revenue, are dependent on the n-butanol exporting regions.
European market is mature and is expected to grow at lowest CAGR among all the regions. Various market players of n-butanol are shifting their focus from Europe to Asia-Pacific as there is a wide demand-production gap in the Asia-Pacific region. North American market is moving towards maturity and the region is trying to increase its export market, mainly in the Asia-Pacific.
Demand for n-butanol in ROW is expected to grow at the highest CAGR of 9.0% from 2013 to 2018, mainly driven by high investments in Saudi Arabia on butyl acrylate, butyl acetate, and glycol ethers manufacturing facilities. Government of Saudi Arabia has successfully designed its policies to attract various chemical giants in the country. Also, strategic location of the country and easy availability of raw materials for petrochemicals are other factors which attract companies to establish their manufacturing units in the country.For more information on the Global N-Butanol market, please click here: Global N-Butanol market
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