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Butyraldehyde Market

Market Insights on Butyraldehyde covering sales outlook, demand forecast & up-to-date key trends

Butyraldehyde Market By Product Type (N-Butanol, 2-Ethylhexanol, Polyvinyl Buthyral), Application (Paints and Coatings, Pharmaceuticals, Agrochemicals, Polymers) & Region - Forecast 2022 - 2032

Butyraldehyde Market Overview

During the forecast period from 2022-2032, the market for butyraldehyde is expected to grow at a CAGR of more than 6%. The market is expected to be valued at US$ 200 Million in 2022, and is expected to reach a value of US$ 360 Million.

Report Attribute

Details

Expected Base Year Value (2021)

US$ 198 Million

Projected Market Value (2022)

US$ 200 Million

Anticipated Market Value (2032)

US$ 360 Million

Global Growth Rate (2022-2032)

6% CAGR

The butyraldehyde market has been harmed by COVID-19. Manufacturing activities were halted due to supply chain disruptions and labor shortages, or as a precautionary measure to halt virus spread, negatively impacting the market.

Various end-user industries, such as agrochemicals and paints and coatings, experienced major issues as a result of the COVID-19 pandemic, including the effects of nationwide lockdown and companies shifting their sourcing away from China, affecting the market in the short term. Butyraldehyde is used as an intermediate in the production of coatings; however, the decline in coating production has reduced demand for butyraldehyde.

Which are Some Prominent Drivers Spearheading Butyraldehyde Market Growth?

Paint and coating production is steadily increasing on the global market due to increased demand from construction and industrial coating applications. The global construction industry is expected to reach USD 8.4 trillion by 2032, according to the Institution of Civil Engineers (ICE).

The butyraldehyde market is expected to grow due to rising demand for adhesives as construction and infrastructure activities expand, as well as rising demand for furniture globally. According to the India Brand Equity Foundation, India is expected to become the world's third-largest construction market by 2032. (IBEF). While India, China, and the United States are expected to account for nearly 60% of all markets by 2032, the industry's global growth.

Butyraldehyde is primarily used in the production of n-butanol, a solvent used in the coatings industry as well as the production of pyroxylin plastics and polymers. It is also widely used as a raw material in the organic synthesis of 2-Ethyl Hexanol, n-Butanol, Trimethylolpropane, and Polyvinyl Buthylal.

These chemicals are then processed into pharmaceutical intermediates, synthetic resins, perfumes, crop protection chemicals, and pesticides. Butyraldehyde is also used in the manufacture of butyl acrylate, which is then used in the manufacture of acrylic paint. During the forecast period, this factor is expected to drive the global butyraldehyde market.

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What are the Challenges Faced by the Butyraldehyde Industry?

Butyraldehyde is most commonly used in the pharmaceutical and plastic industries. Butyraldehyde's use as a pesticide and crop protection chemical is also beneficial to the market. However, it poses a health risk as well as environmental threats through direct contact, which is expected to stymie market growth during the forecast period.

Why is Asia-Pacific Emerging as an Opportunistic Butyraldehyde Market?

Asia-Pacific accounted for the majority of market share and is expected to maintain its dominance throughout the forecast period. Positive trends for paints and coatings in India and China, as a result of increased investment in the construction industry, are the key factors driving the Asia-Pacific market.

China has the largest market share of butyraldehyde consumption in the Asia-Pacific region. Demographics in the country are expected to drive residential construction growth in the coming years. Rising household income levels, combined with population migration from rural to urban areas, are expected to drive demand in the country's residential construction sector in the coming years. Increased emphasis on affordable housing by both the public and private sectors could drive growth in the paints and coatings industry.

Nikhil Kaitwade
Principal Consultant
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How is North America Contributing to Growth of the Butyraldehyde Market?

Because of an increase in the production of rubber products across the region, the market in North America is expected to expand at a rapid pace during the forecast period. Butyraldehyde manufacturing, storage, and transportation are all strictly regulated in the United States. The North American market consumes the most butyraldehyde, followed by Asia Pacific.

Because of the global economic slowdown, estimating the demand for butyraldehyde is a major challenge. North America has yet to fully recover from the economic crisis. This has harmed demand for butyraldehyde in these regions' major end-use industries.

Market Competition

Because of the presence of numerous players in the market with no significant market share, the global butyraldehyde market is fragmented.

Some of the major companies are Mitsubishi Chemical Corporation, Tokyo Chemical Industry Co., Ltd., KH Neochem Co., Ltd, Eastman Chemical Company, and BASF SE amongst others.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 6% until 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Type
  • Application
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Segments Profiled in the Butyraldehyde Industry Survey

  By Product Type:

  • N-Butanol
  • 2-Ethylhexanol
  • Polyvinyl Buthyral
  • Others

By Application:

  • Paints and Coatings
  • Pharmaceuticals
  • Agrochemicals
  • Polymers
  • Others

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East & Africa

Frequently Asked Questions

FMI projects the global Butyraldehyde market to expand at a 6% value CAGR by 2032

Asia Pacific is expected to be the most opportunistic Butyraldehyde market.

Mitsubishi Chemical Corporation, Tokyo Chemical Industry Co., Ltd., KH Neochem Co., Ltd, Eastman Chemical Company, and BASF SE amongst others, are some prominent Butyraldehyde manufacturers

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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