The ‘Asia Pacific Butyl Glycol Market Size, Share, Growth, Analysis, Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Asia Pacific butyl glycol market, assessing the market on the basis of its segments like function, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Asia Pacific Butyl Glycol Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.70%
Butyl glycol is a chemical that has many uses in a variety of industries, including industrial cleansers and coatings and paintings. The growth of these end-user industries is expected to increase the demand for butyl glycol market, aiding the Asia Pacific butyl glycol market growth.
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A variety of items, including polyester fibres for garments, carpets, upholstery, pillows, and fibreglass, are made from butyl glycol. Additionally, these items are used to make polyethylene terephthalate and other products. The vast majority of manufactured goods made from butyl glycol are affordable and recyclable due to which it is considered a sustainable product, thereby raising the demand for butyl glycol.
The butyl glycol market in the Asia Pacific is being driven by the increasing infrastructure projects and building and construction operations. Additionally, butyl glycol’s potential for expansion is being fuelled by its expanding use in the chemical and agricultural industries. The substantial industrial infrastructure present in countries such as China and India and other growing economies is fuelling the expansion of the Asia Pacific butyl glycol market. In the projection period, India’s rising plastics production and consumption are likely to maintain a constant demand for butyl glycol in the region.
Asia Pacific Butyl Glycol Industry Definition and Major Segments
Butyl glycol is a chemical molecule that belongs to the family of organic alcohols. A colourless, greasy, and viscous compound, butyl glycol is created by reacting ethylene oxide with an alcohol in the presence of a catalyst. Although butyl glycol has a mildly sweet scent, it can cause irritation when it comes into contact with the skin, eyes, or throat.
Based on function, the market is segmented into:
• Chemical Intermediate
On the basis of application, the market is divided into:
• Plastic and Polymer
• Printing Inks
• Paints and Coatings
• Metal Working Fluid
Based on region, the market is categorised into:
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Asia Pacific Butyl Glycol Market Trends
Butyl glycol is frequently used to clean and sterilise chemicals and products because it is surface-active. It is a common ingredient in both commercial and domestic cleaning solutions. The chemical successfully removes dirt and grease because it has both polar and nonpolar ends. Additionally, it’s a typical component of drilling stabilisers, fracturing fluids, and dispersion agents for hydraulic fracturing that uses both water and oil. The chemical is becoming more popular as a surface-active component, which is expected to drive growth in the Asia Pacific butyl glycol market.
A thriving building and construction sector, increasing investments in urban development projects, and the region’s robust economic expansion are some of the key trends propelling the Asia Pacific butyl glycol market. Butyl glycol serves as a starting material in the synthesis of a variety of compounds, including butyl glycol acetate, which is used to create a number of downstream pharmaceutical and cosmetic goods.
Butyl glycol is additionally utilised as a chemical intermediary in the phthalic anhydride reaction to create plasticisers. In this regard, the demand for butyl glycol in the Asia Pacific is anticipated to increase during the forecast period due to the rising demand for plasticisers in the production process of plastics to improve their quality, softness, and elongation.
Key Market Players
The major players in the Asia Pacific butyl glycol market report are BASF SE, Sasol Limited, India Glycol Limited, Nippon Nyukazai Co., Ltd., Asia Pacific Petrochemical Co., Ltd., and Ankshika Polysurf Limited (APL), among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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