Asia Pacific Butyl Glycol Market Report and Forecast 2024-2032

Asia Pacific Butyl Glycol Market Outlook

The Asia Pacific butyl glycol market size is expected to grow at a CAGR of 4.70% between 2024 and 2032, driven by the rising demand from various end use sectors such as paints and coatings and printing inks.

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Key Trends in the Market

Butyl glycol is a chemical compound which belongs to the organic alcohol family. This colourless, oily, and viscous chemical is procured by reacting ethylene oxide with an alcohol in presence of a catalyst. It has a sweetish odour but can cause extreme irritation in case of contact with skin, eyes, or throat. 

• The Asia Pacific butyl glycol market growth is being propelled by the large manufacturing base across the emerging economies such as India and China. The increasing consumption and production of plastics in India is likely to generate a steady demand for butyl glycol in the region in the forecast period.

• The growing expansion of printing ink and paints and coating manufacturing companies in the region is further fuelling the demand for butyl glycol. In addition, the increasing production capacities of major ink and coating producers in China is being witnessed in the region.

• Strong economic growth of various countries in the region, rising investments in urban development projects, and a thriving building and construction sector, are some of the crucial driving factors in the Asia Pacific butyl glycol market.

Market Analysis

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Based on function, the market can be segmented into chemical intermediate, and solvent, among others. On the basis of application, the market can be classified into plastic and polymer, printing inks, paints and coatings, and metal working fluid, among others. The regional markets can be divided into China, Japan, India, ASEAN, and Australia, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Asia Pacific butyl glycol market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

• BASF SE

• Sasol Limited

• India Glycol Limited

• Nippon Nyukazai Co., Ltd.

• Asia Pacific Petrochemical Co., Ltd.

• Ankshika Polysurf Limited (APL)

• Others

Market Share by Function

The chemical intermediate segment, based on function, holds a significant share in the Asia Pacific butyl glycol market. As a chemical intermediate, butyl glycol is used as a starting material in the production process of various chemicals such as butyl glycol acetate, which is used to produce various downstream pharma and cosmetic products. In addition, butyl glycol is also used as a chemical intermediate in the production of plasticisers by reacting with phthalic anhydride. In this regard, the increasing demand for plasticisers in the manufacturing process of plastics in order to improve their quality, softness, and elongation, is expected to propel the demand for butyl glycol in the region in the forecast period. 

Market Share by Application

The paints and coatings applications of butyl glycol are expected to witness a steady growth in the forecast period. Butyl glycol exhibits low volatility, which makes it an excellent solvent in the manufacturing of paints and coatings because of the decreased drying time and improved flow. Hence, the growing expansion of the major paints and coating manufacturers across this region is boosting the butyl glycol market in the Asia Pacific. Over the forecast period, the anticipated increase in the investments towards urban development projects and various commercial construction businesses are expected to further fuel the growth of Asia Pacific butyl glycol market. 

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Competitive Landscape

BASF SE is one of the world’s largest chemical manufacturing companies which was founded in the year 1865 and is currently headquartered in Mannheim, Germany. The company caters to the demands from various end use sectors by offering industrial solutions, surface technologies, and nutrition and care solutions, among others. 

Sasol Limited is a leading chemical and energy services providing company which was founded in the year 1950 and is currently headquartered in Johannesburg, South Africa. The company is known to provide integrated sophisticated technologies in around 22 countries. This company also focusses on providing high-quality chemical solutions while achieving sustainable development goals. 

India Glycol Limited is a renowned chemical products manufacturing company which was founded in the year 1983 and is currently headquartered in Uttar Pradesh, India. The company aims at manufacturing specialty industrial products such as natural gums, spirits, industrial gases, and nutraceuticals, among others. The chemical products portfolio of India Glycol Limited include glycols, ethoxylates, and acetates, among others. 

Other market players include Nippon Nyukazai Co., Ltd., Asia Pacific Petrochemical Co., Ltd., and Ankshika Polysurf Limited (APL), among others.

Key Highlights of the Report