The global butyl glycol market is estimated to surpass US$ 3.23 Bn by 2022. Growing application of butyl glycol as a coupling agent and solvent across household cleaning and industrial sectors is propelling the demand in the market.
As per Future Market Insights (FMI), the sales in the butyl glycol market are expected to top US$ 4.14 Bn by the end of 2029, expanding at a CAGR of 3.6% during the forecast period 2022-2029.
Rising demand for paints and coatings is witnessed among the populace of advanced and emerging economies for enhancement of commercial and residential projects, including houses, industrial towers, and others, which is set to drive the butyl glycol market, suggests FMI’s study. In addition, high miscibility and coupling property of butyl glycol with other solvents are making them a great fit for cleaning and maintenance of residential and industrial premises.
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The pursuit of an agent with highly favorable physical and chemical characteristics has been amplifying all across the globe. With regulators imposing restrictions on the utilization of butyl glycol due to its hazardous impact on exposure to humans, FMI’s study finds that market players will need to think of a better substitute to comply with changing industrial and consumer trends as well as environmental amendments.
Consumption of Butyl Glycol as a Solvent Superlative
The requirement of butyl glycol as a solvent is unsurpassed, accounting for more than 70% of total market revenue, suggests FMI’s study. Water-based coatings became prominent in 1980s, with about 70% of building trade coatings being water-based as of now. Vinylic and acrylic water-based paints are the most prominent, containing a small amount of organic solvents, such as butyl glycol. Low volatile organic compound (VOC) content of butyl glycol makes it extremely suitable as a solvent in protective surface coatings, including enamels, spray lacquers, and others, as it does not easily evaporate.
Butyl glycol is miscible in all percentages with a majority of organic solvents, for instance, ketones, aromatic paraffin, among others, and water. Owing to its high dilution ratios and excellent solvency, butyl glycol is sought-after in the production and formulation of inks, and varnishes. Slow evaporation rate of butyl glycol enables improved blush resistance, enhanced luster, bettered flow-out and reduced orange-peel in lacquers.
Developing and target countries are witnessing fast-paced growth in groundwork ventures, such as roads, commercial buildings, among others. Upsurge in residential projects for escalating demographic across the globe is propelling the demands for decorative and durable paints. Cleaning of machine components and other assets in industrial vertical is set to contribute to the demand for butyl glycol on account of its high solubility. Furthermore, butyl glycol is creating space in domestic sector as a constituent of cleaning solutions for its high coupling efficiency.
Despite tremendous demand growth, butyl glycol is likely to see a slight decline in the requirement due to its noxious impact on humans upon subjection. Industrial workers reported to have been suffering from chronic illnesses, including nausea, kidney, and liver damage. Further, to curb this problem, regulators are imposing amendments to reduce the use and import of butyl glycol and its parent compound.
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Key Segment
By Function
- Solvent
- Coalescing Aid
- Chemical Intermediate
- Plasticizer
By Application
- Paints and Coatings
- Printing Inks
- Metal Working Fluid
- Polymer & Plastics
- Others
By Region
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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The market for butyl glycol is still modest, and this study tracks the growth of butyl glycol market over the period of next decade. The study unfolds how increasing collaboration of stakeholders with local distributors to expand market footprint of butyl glycol will contribute towards the progress of the market. Although North America was the major contributor fueling the growth of butyl glycol market till a few years back, FMI attempts to analyze how the penetration will increase in other regional markets over the course of next decade.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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