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Emergence as Essential Chemical for Numerous Industries Creates Valuable Growth Opportunities for Tert-Butanol Market, Says TMR

·5 min read

Due to increased use of solvents and co-solvents in paints and coatings industry, demand for tert-butanol is growing consistently

Growth dynamics, trends, and opportunities to drive the tert-butanol market at CAGR of 4% from 2019 to 2027

ALBANY, N.Y., July 22, 2021 /PRNewswire/ -- Tert-butanol or tertiary butyl alcohol (TBA) is manufactured commercially as a co-product of Isobutane during the propylene oxide production. It is utilized across a wide range of applications, including flavors, fragrances, pharmaceuticals, automotive, and construction. Owing to this extensive application of the product, players operating in the global tert-butanol market are expected to witness several sales opportunities during the forecast period of 2019 to 2027.

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Analysts at Transparency Market Research (TMR) are of the opinion that the global tert-butanol market will surpass the valuation of US$ 650 Mn by the end of the forecast period from 2019 to 2027. The market was valued at US$ 470 Mn in 2018.

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Tert-butanol Market: Key Findings

  • Growth of Paints and Coatings Industry Fuels Demand for Tert-Butanol

In the past few years, there has been an extensive growth in the use of tert-butanol as a solvent or intermediate in the paints and coatings industry. With the growing focus of several countries on infrastructure development, construction activities in these nations are on the rise. Thus, there is notable growth in the requirement of paints and coatings in these nations. In order to capitalize on this opportunity, several companies in the tert-butanol market are entering into strategic collaboration with paint manufacturers. This factor is translating into incremental demand opportunities in the global market for tert-butanol.

  • Increased Use of Tert-Butanol as Freeze-Drying Agent in Biomedical Industry Creates Sales Avenues for Market Players

Tert-butanol is gaining traction across varied industrial verticals, including the biomedical sector. It is extensively utilized as a most-favored freeze-drying agent. Low toxicity, low melting solvent, and a high vapor pressure are considered some of the key features of this chemical making it popular across the biomedical industry, due to which, the tert-butanol market is expected to witness high sales opportunities.

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Companies operating in the pharmaceutical industry are required to preserve a wide variety of products such as blood samples, vaccines, purified proteins, and varied other biological materials. Thus, there is notable growth in the utilization of tert-butanol across the biomedical industry as a freeze-drying agent. In addition, there is sizable growth in the research and development activities across the pharmaceutical industry globally. Thus, the thriving pharmaceutical industry is expected to generate promising demand opportunities for the vendors operating in the global tert-butanol market in the upcoming years.

Tert-Butanol Market: Growth Boosters

  • Tert-butanol is utilized in the manufacturing of various products such as perfumes, paint removers, and flavors. Thus, the growing demand for all these products is estimated to offer lucrative opportunities in the market for tert-butanol in the near future. This aside, the market is projected to expand due to the increased demand for packaged food products from all across the globe.

  • Several players engaged in the tert-butanol market are increasing their research and development activities. The aim of these researches is to develop products that fulfill the needs of various end-use industries such as the pharmaceutical industry. This factor is assisting in the rapid growth of the global market.

  • Enterprises in the tert-butanol market are focused on boosting their production capacities. This strategy is helping players in catering to increased product demand as well as in maintaining prominent position in the tert-butanol market. In addition, many companies in the market are engaging in different business strategies such as mergers, acquisitions, and collaboration.

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Tert-Butanol Market: Key Participants

The report profiles leading as well as new vendors in the tert-butanol market. These include:

  • LyondellBasell Industries Holdings B.V.

  • Evonik Industries AG

  • Zibo Qixiang Petrochemical Industry Group Co., Ltd.

  • Kuraray Co., Ltd

  • Avantor Performance Materials

  • Lotte Chemical Titan Corporation

  • Mitsui Chemicals, Inc.

  • Maruzen Petrochemical

  • Wanhua Industrial Group

  • China Petroleum & Chemical Corporation

Chemicals & Materials Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research's award-winning coverage of the global Chemicals & Materialhttps://www.transparencymarketresearch.com/food-beverages-market-reports-4.html Industry:

N-butanol Market - The increase in the demand for butyl acrylate in the building & construction industry is expected to boost the global N-butanol market during the forecast period. The expansion of the building & construction industry in India and China is anticipated to boost the consumption of N-butanol during the forecast period.

Isobutanol Market - One of the key factors expected to have a significant positive impact on the overall development of the global isobutanol market is the increased demand from the paints and coatings industry. As isobutanol is one of the key constituent of coatings and solvents used across a number of applications in industries such as building and construction and automotive, the increased demand for coatings across these industries is likely to have a significant positive impact on the overall development of the global isobutanol market in the next few years.

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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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SOURCE Transparency Market Research