(MENAFN- GlobeNewsWire - Nasdaq) Covina, Oct. 30, 2023 (GLOBE NEWSWIRE) -- What is the Butyl Glycol Market? Butyl Glycol Market accounted for US$ 3.2 billion in 2022 and is estimated to be US$ 4.7 billion by 2032 and is anticipated to register a CAGR of 3.9%.
Butyl glycol is commonly used as a coalescing agent in latex paints, helping the paint particles fuse together and form a durable film when applied to surfaces. It's a key component in many household and industrial cleaning products, such as glass cleaners, degreasers, and floor cleaners.
Chemicals like butyl glycol, which is utilized in numerous industrial processes, will probably continue to be in demand as long as growing countries and regions continue to industrialize. The demand for butyl glycol market is anticipated to be driven by the expansion of sectors including manufacturing, construction, and automotive.
Analyst View –
It is anticipated that the construction sector, which is highly dependent on butyl glycol-containing paints, varnishes, and adhesives, would expand around the world. The demand for these products will be bolstered by urbanization, infrastructure development projects, and population growth. The butyl glycol used in adhesives and coatings is extensively used in the automobile and aerospace industries. The Butyl Glycol Market will grow as a result of these industries' expansion, especially in emerging markets.
| Attributes | Details |
| Butyl Glycol Market Value (2022) | US$ 3.2Bn |
| Butyl Glycol Market Projected Value (2032) | US$ 4.7Bn |
| Butyl Glycol Market CAGR (2022 – 2032) | 3.9% |
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Segmentation:
Based on Function , Butyl Glycol Market is segmented into Chemical Intermediate, Solvent, Coalescing Aid, and Plasticizer. Based on Application , Butyl Glycol Market is segmented into Metal Working Fluid, Paints & Coating, Printing Inks, Polymers & Plastics, and Others. By Region , the Butyl Glycol Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Butyl Glycol Market:
The prominent players operating in the Butyl Glycol Market includes,
Sasol Ltd. BASF SE Nippon Nyukazai Co. Ltd. Eastman Chemical Corporation Sadara Chemical Company KH Chemicals Dow Chemical Company Lyondell Basell Industries N.V. Asia Pacific Petrochemicals Co. Ltd. Anshika Polsurf Ltd.
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Opportunities in the Butyl Glycol market:
Growing Demand in Paints and Coatings: Butyl Glycol is used as a solvent in the paints and coatings industry. The increasing construction and automotive sectors provide opportunities for Butyl Glycol's application, particularly as eco-friendly coatings gain popularity. Rising Use in Cleaners and Degreasers: Butyl Glycol is an essential ingredient in cleaning products and degreasers. As environmental concerns grow, there is an opportunity to develop and market green cleaning products that use Butyl Glycol as a key component. Surfactant and Emulsifier Applications: Butyl Glycol is used as a surfactant and emulsifier in various industries, including agrochemicals, personal care products, and pharmaceuticals. The demand for these products offers opportunities for Butyl Glycol manufacturers to expand their market presence. Sustainable Chemistry: With the increasing emphasis on sustainability and green chemistry, there's an opportunity to develop and promote Butyl Glycol-derived products that are more environmentally friendly, bio-based, or have a reduced environmental impact.
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