Butyraldehyde Market - Forecast(2024 - 2030)

Butyraldehydenbsp;Marketnbsp;Overview

Butyraldehyde market size is forecast to reach US$355 Million by 2026, after growing at a CAGR of 4.1% during 2021-2026. Butyraldehyde also known as butanal is a colorless and strong -smelling liquid. It is utilized as an intermediate in a wide array of chemical activities. Butyraldehyde is broadly consumed as a raw material for organic synthesis products such as n-butanol, 2-ethylhexanoic acid, and polyvinyl buthylal. And the chemicals are in turn used extensively in the fabrication of synthetic resins, pharmaceuticals intermediates, rubber accelerators, perfumes, plasticizers, pesticides, antioxidants, textile auxiliaries, perfumery, solvents, and various types of additives that are used in various industries. Besides the increasing application in the paints and coatings sector along with the other factors are expected to drive the global butyraldehyde market during the forecast period.

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COVID-19 Impact

The lockdown in various regions and restrictions have negatively impacted the industries, including butyraldehyde market. Numerous end-use industries such as chemicals, construction endorsed some major concerns due to the COVID-19 pandemic, including the effects of nationwide lockdown. Manufacturing activities were discontinued due to disruption in the supply chain and workforce unavailability, demand drop, low company liquidity. Butyraldehyde is widely used as an intermediate in the production of paints and coatings and the fall in production of the industry has sank the demand for butyraldehyde. However, the market growth is expected to recover with the uplift of lockdown and resume the work across various end-user industries.

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Butyraldehydenbsp;Marketnbsp;Report Coverage

The report: “Butyraldehyde Market- Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Europe Hologram and Smart Packaging Industry.?

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By Product Type: 2-Ethyl Hexanol, n-Butanol, Trimethylolpropane, and Polyvinyl Buthylal By Application: Pharmaceuticals, Pesticides and Herbicides, Perfumes, Paints and Coatings, Building materials, Industrial fuel, Chemical intermediate, Rubber accelerators, Synthetic resins, Automotive Accessories, Antioxidant, Plasticizers, and Others By End-Use Industry: Medical, Agriculture, Cosmetic and Personal Care, Food and Beverages, Apparel and Textile, Chemical, Pulp and Paper, Automotive, Construction, and Others By Geography: North America (USA, Canada and Mexico), Europe (UK, France, Germany, Italy, Spain, Russia, Netherlands, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), and?Rest of the World (Middle East and Africa).

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Key Takeaways

• North America dominates the Butyraldehyde Market owing to the rapid increase in chemical and construction sector. For instance, U.S. Department of Transportation announced US$905.25 million investment for the round of the Infrastructure for Rebuilding America (INFRA) grant program, will add momentum for the region’s construction industry.
• The market drivers and restraints have been assessed to understand their impact over the forecast period.
• The rising demand of butyraldehyde in the application of paints and coatings industry is likely to boost the market.
• The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
• The other key areas of focus include the various applications and end use industry in Butyraldehyde Market and their specific segmented revenue.

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• Butyraldehydenbsp;Market Segment Analysis -nbsp;By Product Type

N-Butanol held the largest share in the Butyraldehyde Market in 2020. N-Butanol is utilized as a component in the production of acrylates which are widely used in the production of paints and coatings, textiles, and others. N-Butanol has huge demand as bio-fuel and bio-based n-Butanol would most likely be the desired fuel owing to its properties such as less hydrophilic nature, high energy content, more energy per volume, higher compatibility, and low volatility with the existing base of oil infrastructure, low corrosive nature, and environmentally friendly products. The next largest product application for butyraldehyde is 2-ethylhexanol, which is used in di (2- ethylhexyl) phthalate (DEHP), a plastic softener phthalate. Escalating demand for the n-butanol products from various end-use industries is expected to drive the growth of butyraldehyde Market.

Butyraldehydenbsp;Market Segment Analysis -nbsp;By Application

Rubber accelerators segment dominates the Butyraldehyde Market in 2020 and is expected to grow at a CAGR of 5.2% during 2021-2026. Butyraldehyde provides fast acceleration and high network density of vulcanizates in rubber compound. Rubber accelerators is widely used across various industries including automotive, pharmaceutical, textile and others. Increasing rubber production across the globe, for instance, according to the Thai Rubber Association, Thailand is the largest producer of natural rubber and have produced 4.24 million tons of rubber in 2020 and have witnessed a 11% increase in the annual growth rate in 2019. Butyraldehyde is majorly used as an accelerator material in the rubber industry. Elevation in global demand for rubber products is likely to drive the butyraldehyde market during the forecast period.

Butyraldehyde Market Segment Analysis - By End-Use Industry

Chemical segment held the largest share in the Butyraldehyde Market in 2020 up to 6.3%. The chemical segment is significantly growing in terms of revenue, owing to the high demand for butyraldehyde in various specialty chemicals. It is an organic compound which is the aldehyde derivative of butane and chiefly use as a synthetic flavoring agent in foodstuffs like alcoholic and non-alcoholic beverages, baked goods and candies. The demand for n-butanol is rising as it is used as a chemical intermediate and as a solvent for ambient dry and baking coatings. Besides it is used as an intermediate in pesticides and fertilizers in the agriculture field. The large production of cereal crops, like rice and wheat in key countries like China, and India, is the major factor supporting chemicals growth which indirectly influences the growth of butyraldehyde market.

Butyraldehyde Market Segment Analysis - Bynbsp;Country

North America region held the largest share in the Butyraldehyde 2020 up to 32% followed by Asia Pacific and Europe. North America is at present the world’s largest regional economy, according to the Queensland government, and will remain a powerful player in the global economy for the imminent future, especially for the development of new technologies and the anticipation of investment capital. The region offers distinct opportunities for different end-use industries including chemical, construction, food and beverages and others. According to U.S Chemical Industry, the United States is the world’s largest producer of chemicals representing about 24% of the worldwide market, which is valued at US$1.3 trillion. Demand for construction chemicals is driven by the rising trend of sustainable and green infrastructure and thus benefiting from the demand for such chemicals like n-butanol is likely to enhance the butyraldehyde market.

Butyraldehyde Market Drivers

Escalated Construction and Infrastructure activities

Rapid urbanization in countries, such as India, China, the USA, and others have driven the demand for butyraldehyde product n-Butanol. The construction industry prefers high-performance materials for protection and decorative commitments. The quality of n-Butanol based products such as paints, coatings, adhesives, and others for construction purposes are extremely consistent and cost-effective. As a result, the demand for n-butanol based products are increasing in the construction industry. The rising population in developing regions like APAC, Africa, and the need for progressed infrastructure and residential spaces, is likely to drive the global consumption of n-Butanol. Residential construction is growing significantly in the last few years due to factors such as changing lifestyle, increasing disposable incomes, ease of financing, and increased investments. According to the Institution of Civil Engineers (ICE), the global construction industry is estimated to extent US$8 trillion by 2030. Such initiatives in the construction sector will certainly boost the butyraldehyde market.?

Rising demand of N-Butanol in Coatings Industry

Butyraldehyde is primarily used in the manufacturing of n-butanol, which is used as a solvent in coatings industry and in the manufacturing of pyroxylin plastics, and polymers. It is also extensively utilized as a raw material for organic synthesis of products such as 2-Ethyl Hexanol, n-Butanol, Trimethylolpropane, and Polyvinyl Buthylal. These chemicals are further utilized to produce pharmaceuticals intermediates, synthetic resins, perfumes, crop protection chemicals, and pesticides. Furthermore, butyraldehyde is also used in the production of butyl acrylate, which is further used in the production of acrylic paint. This factor is expected to drive the global butyraldehyde market during the forecast period.

Butyraldehyde Market Challenges

Fluctuation in Raw Material Prices

The high cost of raw materials for butyraldehyde, which is acquired by the reaction between synthesis gas and propylene. Although, they are petroleum-derived products, and the values of these products observe fluctuation, for instance, according to U.S Energy Information Administration, in 2020 there has been 31.3% downfall in crude oil price with respect to 2019 and 12.7% in 2019 when compared to the previous year due to the global pandemic. Besides, butyraldehyde is consumed as a pesticide in agriculture sector and somewhere it causes health hazard as well as environmental risk. Certain factors limiting the growth of butyraldehyde market, which is projected to hamper the market in the forecast period.

Butyraldehydenbsp;Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in Butyraldehyde. Major players in the Butyraldehyde Market are DowDupont, BASF, Eastman, BASF-YPC Mitsubishi Chemical Corporation, OXEA-Chemicals, Santa Cruz Biotech, Xiamen Hisunny, Neostar United, Beijing Yunbang Biosciences, Shaanxi Top Pharm, and Zhej.