Butyl Glycol Market size is forecast to reach $1.9 Million by 2025, after growing at a CAGR of 3.5% during 2020-2025. The butyl glycol market is anticipated to see a moderate growth despite tight environmental amendments over the near timeframe. Growing information about the adverse procedural events upon continuous exposure to butyl glycol is appearing to decline its jobs. The butyl glycol market, however, is set to represent steady progress against the backdrop of increasing demands for Paints and coating materials across developed countries and target countries, including the US. The industry will make further use of the various butyl glycol applications, which are projected to significantly raise demand over the next five years.
Butyl Glycol Market Segment Analysis – By Application
Industrial Application segment has been the primary market for butyl glycol for many years at a CAGR of 3.9%. By acting as a chemical precursor in the formation of butyl glycol acetate, the printing industry harnesses butyl glycol as a solvent for specialty printing inks and ball point pen pastes. Butyl glycol serves as a coupling agent for gravure, silk screen, and flexographic printing resins and dyes in water-borne inks. It reverses the evaporation rate of the inks and, by countering surface tension, improves wettability. Furthermore, butyl glycol’s high solvency offers good viscosity control for quality impressions and reduced ink clogging on the screen. Because of the presence of both polar and non-polar ends in its molecule, butyl glycol finds its use in the industrial and residential vertical as a cleaning solution component, which can eliminate polar and non-polar materials such as greases and oils. Moreover, butyl glycol is integrated into fracking solutions for hydraulic fracturing to prevent congealing in petroleum oil fields due to its surfactant properties.
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Butyl Glycol Market Segment Analysis – Geography
APAC dominated the butyl glycol market share with more than 42.9%, followed by North America and Europe. Over the forecast period, East Asia is estimated to lead the global market for butyl glycol. In countries such as China and India, the quest for highly brush able coatings and coating solutions in construction and residential projects for decorative purposes is intensifying. Low- and middle-income demographics (LMIC) use cleaning solutions containing butyl glycol for household purposes. In addition, China is currently the world’s leading producer and consumer of chemicals, making it the nucleus of lucrative butyl glycol market opportunities. Rising industrialization and infrastructure development are key factors that drive the region’s market. For house cleaning applications, developing countries with low- and middle-income people use cleaning solutions with butyl glycol.
Butyl Glycol Market Drivers
Rise in demand for paints to drive global butyl glycol market
The growth of the global paint & coatings industry is increasing the demand for butyl glycol for use in water-based paint and coating manufacturing. The development of customized technological solutions based on industrial requirements is the focus of leading manufacturers. The availability of butyl glycol replacements may hamper the global butyl glycol market. The global market for butyl glycol may be hindered by stringent government regulations and volatile raw material prices. Butyl glycol is, because of its toxic nature, listed under the Toxics Release Inventory (TRI). Short-term butyl glycol exposure may lead to pulmonary edoema or necrosis, whereas long-term exposure may lead to various chronic conditions, including nausea, anorexia, anaemia, and adverse reproductive disorders. Increasing trends in environmental safety, the manufacture of high-quality and environmentally friendly products, upcoming technologies and the reformulation of new products are projected to restrict the global market for butyl glycol during the forecast period.
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Butyl Glycol Market Challenges
Butyl glycol is likely to see a slight decrease in the requirement despite tremendous demand growth due to its noxious impact on humans upon subjection. Industrial workers have reported chronic illnesses, including nausea, kidney damage, and liver damage. In addition, regulators are imposing amendments to reduce the use and import of butyl glycol and its parent compound to curb this issue.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Butyl Glycol Market. In 2019, the market of butyl glycol has been consolidated by the top five players accounting for xx% of the share. Major players in the Butyl Glycol Market are Eastman Chemicals, LyondellBasell, BASF, Asia Pacific Petrochemicals, Dow Chemicals, Paras Dyes and Chemicals, Beijing East Guangming Chemical, Qingdao San lianxiang Chemical, Parsidan Chemicals, Solvent Ltd, LOTTE CHEMICAL, INEOS, Dow Corning, among others
Due to their comparatively lower toxicity and higher evaporation rate, the black listing of e-series glycol ethers by environmental protection agencies in countries like the US and Europe is forcing leading market players to expand the production of p-series glycol ethers. In addition, acquisitions and strategic partnerships are being entered into by new and mature stakeholders to launch polypropylene compounding plants in target countries.
Because of the presence of both the polar and non-polar ends of its molecule, butyl glycol finds its application in the industrial and residential vertical as a cleaning solution product, which can dissolve polar and non-polar materials such as greases and oils. Moreover, butyl glycol is integrated into fracking solutions for hydraulic fracturing to prevent congealing in petroleum oil fields due to its surfactant properties.
The manufacturers are likely to stop production because of the COVID-19 palindrome. It will take time for manufacturers to adjust their product release policy in China and countries as well, and this is expected to decrease the use of Butyl Glycol by 2020-2021.
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