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The global bio-butanol market is projected to showcase notable growth in the coming years, on account of the rapid surge in demand from end-use industries, such as building & construction. The compound is used as a key raw material for the production of paints, coatings, plasticizers, and adhesives, owing to which it has a high demand from the construction sector. Moreover, the compound can be used as a biofuel when blended with gasoline.
The bio-butanol market has been categorized into wheat, sugar, corn, wood, and others, on the basis of raw material. Among these, the sugar category is expected to account for a significant market share throughout forecast period. This can be ascribed to the vast availability of sugarcane as a raw material across countries such as China, India, France, Germany, and Brazil, coupled with the availability of low-cost wheat straw.
The bio-butanol market has also been categorized on the basis of application into acrylates, acetates, glycol ethers, solvents, plasticizers, and others. Of these, the acrylates category is expected to account for a significant share in the market throughout the forecast period. This can be attributed to the high-volume usage of the compound for the production of butyl acrylates, which are further required for the production of adhesives, paints, and coatings among several other products.
Acrylates are in high demand in end-use industries, particularly in developing nations wherein the construction sector is witnessing prime growth. Thus, in order to meet the rising product demand, the consumption of bio-butanol as a raw material for acrylates is projected to increase during the forecast period.
Geographically, Asia-Pacific (APAC) is expected to hold the largest market share during the forecast period. This can be ascribed to the rapid urbanization in emerging economies of the region, including China, India, and Thailand. Additionally, a surging demand for the compound from industries such as building & construction and textiles is expected to boost the market growth in the coming years. Moreover, the increasing focus of regional governments on carbon footprint reduction is expected to further benefit the market in APAC.
Globally, the bio-butanol industry is majorly being driven by the increasing demand for butyl acrylates. Butyl acrylates are widely used for the production of paints, coatings, and adhesives, and with the growth in the construction sector across the world, the demand for bio-butanol is projected to increase. Bio-butanol plays a vital role in the manufacturing process of these products, owing to its wide usage as the main solvent. Moreover, it exhibits excellent blending properties, which makes it a highly preferred compound. Additionally, the increasing demand for biofuels is boosting the consumption of bio-butanol to a great extent. Such factors are projected to drive the market in the near future.
Although bio-butanol has numerous advantages, its adoption is likely to be impacted owing to its high refining cost. Additionally, the refining process involves the release of toxic substances, owing to which it has an extremely bad odor. These factors may restrict its market adoption to some extent.
Some of the companies operating in the global bio-butanol market are Green Biologics Limited, Butamax Advanced Biofuels LLC, Gevo Inc., BUTALCO GmbH, Phytonix Corporation, METabolic Explorer, Tetravitae Bioscience, Cobalt Technologies, and Cathay Industrial Biotech Ltd.
The study provides the historical as well as the forecast market size for the bio-butanol market.
The bio-butanol market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Raw Material
Based on Application