Press release
Butyl Glycol Market Growth with Worldwide Industry Analysis
Butyl Glycol Market
Butyl glycol (C6H14O2) is also known as BG, 2-butoxyethanol, glycol mono butyl ether, or ethylene glycol monobutyl ether. It is a colorless, hygroscopic, oily liquid with mild odor. It is a neutral liquid with low volatility.
Butyl glycol is miscible with common organic solvents and water. Manufacture of butyl glycol includes reaction of ethylene oxide with n-butanol in the presence of a catalyst. It is employed as a starting material and chemical intermediate in various reactions.
Butyl glycol is used as a solvent in printing inks, textile dyes, and lacquer thinners. It has ability to stabilize volatile compounds including flavors and fragrances.
Butyl glycol is used as a solvent in water-based paints, due to its low volatility. It enables improvement in properties of enamel, without interrupting the drying time.
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Rise in Demand for Paints to Drive Global Butyl Glycol Market
Growing of the global paints & coatings industry is boosting the demand for butyl glycol for use in the manufacture water-based paints and coatings
Leading manufacturers are focusing on the development of customized technological solutions based on industrial requirements
Availability of substitutes for butyl glycol may hamper the global market for butyl glycol. Stringent government regulations and volatile prices of raw materials may hinder the global market for butyl glycol.
Butyl glycol is listed under the Toxics Release Inventory (TRI), due to its toxic nature. The short-term exposure to butyl glycol may lead to pulmonary edema or necrosis, while its long-term exposure causes various chronic conditions including nausea, anorexia, anemia, and adverse reproductive disorders.
Rising trends of environment safety, manufacture of high-quality and eco-friendly products, upcoming technologies, and new product reformulation are estimated to restrain the global butyl glycol market during the forecast period
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Solvents Segment to Witness Attractive Opportunities
Based on function, the global butyl glycol market can be segmented into solvents, chemical intermediates, and others
The solvents segment is anticipated to hold a major market share during the forecast period. The segment is anticipated to witness rapid growth in the near future, due to growing consumption of solvents across various end-use industries.
Paints & Coatings Segment to Witness Attractive Opportunities
Based on end-use, the global butyl glycol market can be segmented into paints & coatings, printing inks, metalworking fluids, electrical & electronics, and others
The paints & coatings segment held a major share of the global butyl glycol market in 2018 and the trend is anticipated to continue throughout the forecast period. Butyl glycol is widely used in the production of inks and coatings.
Rising demand for paints and coatings in developing economies for the development of residential and commercial projects, such as industrial towers and houses, drives the global butyl glycol market
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Asia Pacific to Offer Attractive Opportunities to Butyl Glycol Market
In terms of region, the global butyl glycol market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America has been a prominent manufacturer and end-user of butyl glycol over the last few years. The U.S. held a major share of the butyl glycol market in North America in 2018.
The butyl glycol market in Asia Pacific is estimated to register the maximum growth rate during the forecast period. The market in countries such as China, India, and Indonesia is estimated to expand at a high rate during the forecast period. Rising industrialization and development of infrastructure are key factors driving the market in the region. Developing countries with low- and middle-income people use cleaning solutions with butyl glycol for house cleaning applications.
Germany is projected to constitute a major share of the butyl glycol market in Europe during the forecast period
Key Players Operating in Global Butyl Glycol Market
The global butyl glycol market is moderately consolidated, with several regional as well as global manufacturers operating in the market. Prominent players operating in the market are investing in mergers, acquisitions, expansions, and new product launches in order to maintain their leading position.
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