What Are The Major Reasons For Rise In Butyraldehyde Market In Recent Period?

Butyraldehyde, which is also known as ‘Butanal’ is a colorless liquid with a pungent smell. It is soluble in most organic solvents but partially soluble in water. The most common method of manufacturing butyraldehyde is the Oxo process, in which propylene, carbon monoxide, and hydrogen are reacted together with rhodium as a catalyst.

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Butyraldehyde is used as a raw material to produce n-butanol, 2-ethylhexanol, trimethylolpropane, and polyvinyl butyral. It is also used as an intermediate in chemical industry and have application in manufacturing of pharmaceuticals, pesticides, crop protection products, perfumes, synthetic resins, and plasticizers.

Market Dynamics

Butyraldehyde is majorly used in the production of n-butanol, which in turn is used as a solvent in coatings industry and in the manufacturing of pharmaceuticals, pyroxylin plastics, and polymers. Increasing use of butanol is expected to drive the butyraldehyde market growth over the forecast period. For instance, according to the Ministry of Chemicals and Fertilizers, 68,000 tons of butanol was consumed in India in the year 2016-2017. Furthermore, butyraldehyde is also used for production of butyl acrylate, which is further used in the production of acrylic paint. Other applications of butyraldehyde include solvent for dyes, additives in cleaners and polishes, solvent in textile industry, and additives in gasoline.

The other major applications of butyraldehyde is in the production of 2-ethyl hexanol. 2-ethyl hexanol is mainly used in the manufacturing of plasticizers, which are used in the production of polyvinyl chloride (PVC). Major players in the PVC industry such as Shin-Etsu, Westlake Chemical, and Formosa Plastics are focused on expanding their production capacity, which is expected to increase demand for 2-ethyl hexanol, which in turn is expected to drive the butyraldehyde market growth over the forecast period. For instance, in July 2018, Shintech, a U.S.-based subsidiary of Japan’s Shin-Etsu announced to expand its PVC output at Louisiana complex by 58% to over 1 million mt/year, along with other upstream PVC expansions, by late 2020 or early 2021. Other applications of Butyraldehyde includes manufacture of extractants, used as solvents in dye and coating industry, manufacturing of acrylate and methacrylate esters. For instance, according to the Ministry of Chemicals and Fertilizers, 110, 000 tons of 2-ethyl hexnaol was consumed in India in the year 2016-2017.

Market Outlook

Growth of butyraldehyde market is attributed to use of its derivatives in various end-use industries such as pharmaceuticals, chemical industries, etc. For instance, according to the European Plasticizers, 7.5 million tons of plasticizers was consumed globally in the year 2017, of which 40% was produced using 2-ethyl hexanol as a raw material.

Moreover, according to the Federation of Indian Chambers of Commerce & Industry (FICCI), Indian polymer additives market is expected to exhibit a CAGR of 10.7% from 2015 - 2020 and reach US$ 793 million by the end of the forecast period in which, plasticizers is expected to hold the largest segment with over 40% market share.

Key Players

Major Key players in global butyraldehyde market include BASF, Dow Chemical, Eastman, Mitsubishi Chemical, Perstop Holding AB, and OXEA GmBH

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Market Taxonomy

On the basis of product type, the global butyraldehyde market is segmented into:

N-butyraldehyde
Isobutyraldehyde
On the basis of application, the global butyraldehyde market is segmented into:

N-butanol
2-ethylhexanol
Trimethylolpropane
Polyvinyl butyral

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This release was published on openPR.