2-Butanol Market: Introduction
2-Butanol also known as sec-butyl alcohol is a colorless, highly flammable organic solvent obtained as 1:1 mixture of two stereoisomers. Commercially 2-Butanol is manufactured by hydration of butene in the presence of sulfuric acid as a catalyst. 2-Butanol is used as an industrial solvent and as a chemical intermediate and can be easily found in polishes, paint remover, industrial cleaning compounds, perfumes, dye stuffs and other substances. 2-Butanol is further used in the production of methyl ethyl ketone and alpha hydroperoxy alcohols. Suitable precautions are necessary while handling or processing 2-Butanol in industrial setting, since during conventional distillation of 2-Butanol several explosions have been taken place.
2-Butanol Market: Dynamics
With the increasing demand for the use of solvents in various chemical industries, the 2-Butanol market is expected to register significant growth since 2-Butanol serves as a widely used solvent. Further, 2-Butanol consumption is anticipated to gain from the rising demand of flavoring agents, perfumes, paint removers, industrial cleaners from several end use industries. Moreover, the growth in the usage of chemical intermediate and dyestuffs in various process industries will boost the global market of 2-Butanol.
With the availability of substitutes, 2-Butanol usage can be limited in certain applications. Further, with the strict governments norms and the possible hazards related to usage of chemical solvents in products such as paints & coatings, usage of 2-Butanol might be restricted and this will affect the overall consumption rate. The growing use of water based paint & coating formulations present a challenge for the 2-Butanol market.
2-Butanol Market : Covid-19 Impact Assessment
With the ongoing Covid-19 pandemic, industrial activity has been impacted to a considerable extent owing to the severe lockdowns imposed on daily activities. The same has been observed in the case of chemical industry including 2-Butanol, where reduced consumption of 2-Butanol in the solvent and other chemical industry in the initial quarters of 2020 has affected the market growth of 2-Butanol. However, with the removal of the lockdowns by the regional governments for the recovery of economic and industrial growth, the 2-Butanol is expected to retain the desired growth in the coming quarters.
2-Butanol Market: Segmentation
The global market of 2-Butanol can be segmented into two major categories, by product type and by applications
On the basis of product type, the global market of 2-Butanol is segmented as:
On the basis of application, the 2-Butanol global market is segmented as:
2-Butanol Market: Regional Outlook
As per the regional market scenario, East Asia and South Asia is consider to be one of the leading region due to the presence of established production house as well as end use market for 2-Butanol. China, India and ASEAN nations are the key players in the 2-Buatnol market due to the growing solvent industries and other chemical industries. North America and Europe are the other key regions for 2-Butanol market due to the presence of several Tier-1 manufacturers and major chemical industry end users.
Within Europe, the market of Germany, Russia, UK, France are the leading country markets for 2-Butanol, while new opportunities can be seen in the emerging East European economies such as Poland. Latin America, Middle East and Africa are expected to show a moderate growth in the global 2-Butanol market in the coming years, but with the growing industrial activities in these regions may increase the usage of 2-Butanol in near future.
2-Butanol Market: Key Participants
List of some of the prominent participants in the global 2-butanol market, identified across the value chain include:
Market research report on the 2-Butanol consists of comprehensive evaluation containing thoughtful insights, facts and figures, historical data, statistically supported and industry validated market information. The 2-Butanol market report also contains projections using suitable sets of assumptions, techniques and methodologies. The report further provides in depth analysis and information according to market segments like geography, type, and applications.
The report covers exhaustive analysis on:
Regional analysis includes:
The global 2-Butanol market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on 2-Butanol market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.