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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Tert-Butanol Market Outlook
The global tert-butanol market attained a value of USD 544.42 million in 2023. The tert-butanol market is expected to reach USD 716.31 million by 2032, growing at a CAGR of 3.1% during the forecast period of 2024-2032.
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The global chemical industry has been steadily increasing, as virtually all manufactured goods depend on some form of a chemical process. Tert-butanol is moving towards being an essential ancillary in the end-use sector with the growing demand for chemicals. The tert-butanol market is gaining momentum from applications across various industries such as pharmaceuticals, flavours and fragrances, manufacturing, and automotive. Such product diversity means the tert-butanol market enjoys a symbiotic relationship with end-use sectors.
Global Tert-Butanol Market: Properties and Applications
Tert-butanol is a tertiary alcohol substituted at the second position by an isobutane group of hydroxy. It is one of butanol's four isomers.
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The tert-butanol market can be divided based on applications into:
- Solvents and Intermediates
- Ethanol Denaturant
- MTBE and ETBE
- Methylmethacrylate (MMA)
- Others
The EMR report looks into the regional tert-butanol markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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Global Tert-Butanol Market Analysis
Tert-butanol is steadily making its way into the biomedical industry as the preferable freezing agent. The constantly evolving nature of the pharmaceutical industry and the increase of research activities has made it necessary to conserve vaccines, blood samples, purified proteins, and many other biological materials. As a high vapour pressure, low toxicity, and low melting solvent, tert-butanol serves as an optimal freezing agent. Manufacturers capitalize on this trend by strengthening their ties and working with the pharmaceutical industry's raw material providers and service providers to exploit the full potential of the tert-butanol market. The production of high purity grade tert-butanol, suitable for pharmaceutical applications, is given considerable importance due to the high demand for the product.
Global Tert-Butanol Market: Competitive Landscape
The report presents a detailed analysis of the following key players in the global tert-butanol market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- LyondellBasell Industries N.V.
- Evonik Industries AG
- ZiBo Haizheng Chemical Co.,Ltd
- Lotte Chemical Titan Holding Berhad
- Wanhua Chemical Group Co., Ltd.
- Others
The EMR report gives an in-depth insight into the tert-butanol market by providing a SWOT analysis as well as an analysis of Porter's Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global tert-butanol market attained a value of nearly USD 544.42 million.
The market is projected to grow at a CAGR of 3.1% between 2024 and 2032.
The market is estimated to grow in the forecast period of 2024-2032 to reach about USD 716.31 million by 2032.
The major drivers of the market are expanding applications of t-butanol as a solvent, particularly in paints and coatings, growing industrialisation, rising demand from the developing regions, booming construction market, and technological advancements.
The key trends guiding the growth of the tert-butanol market include the growing product demand as a freeze-drying agent in pharmaceutical and biomedical sectors and growing research and development activities.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Solvents and intermediates, ethanol denaturant, MTBE and ETBE, and methylmethacrylate, among others, are the leading applications of the product in the market.
The major players in the market are LyondellBasell Industries N.V., Evonik Industries AG, ZiBo Haizheng Chemical Co.,Ltd, Lotte Chemical Titan Holding Berhad, and Wanhua Chemical Group Co., Ltd., among others.
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