Global Tert-butanol Market to Cross US$ 650 Mn by 2027


Posted June 20, 2019 by sakshiTMR

TMR has published a new report on Tert-butanol which gives detailed insight into the market size, trend, present opportunities and key-players.

 
• The global tert-butanol market was valued at US$ 472.3 Mn in 2018, and is anticipated to expand at a CAGR of nearly 4% during the forecast period.
• The global tert-butanol market is driven by the rise in the demand for solvents and co-solvents in the paints & coatings industry.
• Asia Pacific accounts for a prominent share of the global tert-butanol market, led by rapid urbanization and industrialization in the region.

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Key Drivers of the Tert-butanol Market
• Tert-butanol is used as a solvent or co-solvent in paints, coatings, inks, and adhesives. It is also used in varnishes, resins, gums, dyes, camphor, vegetable oils, dyes, waxes, resins, shellac, rubbers, and alkaloids. The demand for tert-butanol in Asia Pacific is expected to rise significantly during the forecast period, owing to the growth in the construction sector and automotive industry in the region.
• Flavors and fragrances are extensively used in industries such as food, perfumes, toiletries, cosmetics, and chemicals. Rise in the demand for air fresheners and deodorizers, and increasing consumer preference for diverse tastes, ranging from traditional scents to international luxury brands and niche fragrances, are driving the global tert-butanol market.
• Tert-butanol is employed as a denaturant in the denaturing of ethyl alcohol. It possesses excellent solvating properties and high oxidation stability. Denatured alcohol is employed in various end-use industries as a fuel additive, cleaning agent, exterminator, sanding aid, and solvent. Rise in the demand for denatured alcohol in various applications as a disinfectant and cleaning agent is projected to boost the demand for tert-butanol during the forecast period.

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Tert-butanol Market: Pharmaceutical Segment to Offer Attractive Opportunities

• Tert-butanol has been identified as a potential freeze-drying agent in the manufacturing of pharmaceutical compounds, especially in the preparation of stable powdered products. Solutions that are used for freeze-drying are known as organic co-solvent systems. Tert-butanol dissolved in water is one of the most utilized co-solvent systems.
• Increase in research activities on drug development and biopharmaceutical research across the globe is a major factor augmenting the growth of the tert-butanol market, as lyophilization or freeze-drying agents are widely used to improve stability and increase the shelf life of pharmaceuticals/biopharmaceuticals.
• Rise in the demand for biopharmaceutical products such as special cancer treatment substances and antibodies, which require freeze-drying for attaining efficient outcomes in clinical trials, is anticipated to provide lucrative opportunities to manufacturers of tert-butanol in the market.

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Limited Availability of Propylene Oxide (PO)/Tert-butanol (TBA) Plants and Stringent Government Regulations on VOC Emitting Solvents to Hamper Market Growth

• Propylene oxide is a chemical intermediate primarily used in the production of polyether polyols and propylene glycol. PO/TBA plants provide propylene derivatives and co-products such as tert-butanol and isobutylene. Tert-butanol is employed in the production of methyl tertiary butyl ether (MTBE), which is blended into gasoline to enhance the octane number, and thereby lower vehicle emissions.
• The global tert-butanol market is impacted by the limited supply of propylene oxide, due to disruptions in operations between 2016 and 2017. Rise in the inclination toward biofuel and the restricted usage of MTBEs and ETBEs, typically in the U.S., are also hampering the overall sales of tert-butanol.
• Increase in the number of regulations on VOC emissions from paints, coatings, printing inks, and industrial and domestic cleaning products; and rise in environment-related awareness have adversely affected the demand for petroleum-based solvents. Thus, the rise in environment-related regulations on VOC emissions is expected to hamper the global tert-butanol market during the next few years.

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Tags Tert-butanol , Tertiary Butyl Alcohol Market , Tert-butanol Market
Last Updated June 20, 2019