Butylene Carbonate Market To Receive Overwhelming Hike In Revenues By 2026

Butylene carbonate is an organic compound containing double ester group as well as carbonate as a functional group. It widely used as polar solvent in organic and inorganic materials, inks, colors, agriculture, fibers, surfactants, dyes, and batteries. Additionally, butylene carbonate is employed as binder for foundry sand molds, gallant for clay, crosslinking agent for superabsorbent polymers, and additive in fuel and hydraulic fluids. It is also used for the separation of carbon dioxide, hydrogen sulfide, and aromatic hydrocarbon in refinery operations. Butylene carbonate is extensively used in components of electrolytes in lithium-ion batteries due to its high polarity, solubility, and boiling point.

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The global butylene carbonate market can be segmented based on form and end-user. In terms of form, the market can be bifurcated into solid and liquid. In terms of end-user, the market can be divided into automotive, oil & gas, industrial, medical, and personal care & hygiene. Automotive is the leading segment of the butylene carbonate market. Rise in demand for electric vehicles and consumer electronics is boosting the demand for lithium-ion batteries. This, in turn, is propelling the global butylene carbonate market. Lithium-ion batteries are rechargeable and require less recharging vis-à-vis their counterparts such as lead batteries, which require high recharging time. Increase in demand for electrolytes with better efficacy and light weight batteries is driving the demand for butylene carbonate.

Rise in demand for environmentally-safer solvents in various end-user industries such as oil & gas, automotive, and chemical is also augmenting the global butylene carbonate market. Butylene carbonate is an environmentally-safer solvent compared to methylene chloride, acetone, and aromatic solvents. It possesses excellent solvency properties, low VOC, low toxicity, low evaporation rates, and high boiling points. Thus, it is ideal for usage in many solvent applications. Fluctuation in prices of raw materials is expected to hamper the butylene carbonate market during the forecast period. However, rise in demand for hybrid solvents is anticipated to provide lucrative opportunities to manufacturers during the forecast period.

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Key players operating in the global butylene carbonate market include Huntsman Corporation, BASF SE, Oriental Union Chemical Corporation, and Mitsubishi Chemical.

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