The tert butanol market is projected to reach US$ 6,149. 11 million by 2028 from US$ 4,955. 64 million in 2021; it is expected to grow at a CAGR of 3. 0% from 2021 to 2028. Tert butanol is produced commercially as a byproduct of isobutane during the propylene oxide production.
New York, Oct. 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tert Butanol Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Purity, Application (), and End-Use Industry" - https://www.reportlinker.com/p06176808/?utm_source=GNW
Tert-butanol is used as a chemical intermediate in a variety of products.
Further, it is primarily used as a solvent in various applications.It is also used as a paint remover, alcohol denaturant, and so on.
Tert butanol is also used as an alkylating agent for aromatics and phenols, resulting in tert-butyl aromatics and tert-butyl esters, which are used as precursors in the synthesis of antioxidants, phenolic resins, pharmaceutical products, and perfumes.
Based on application, the tert butanol market is segmented into solvents and intermediates, ethanol denaturants, MTBEs and ETBEs, methylmethacrylates (MMAs), and others.In 2020, the solvents and intermediates segment dominated the market, whereas the ethanol denaturants segment is expected to register the highest CAGR during 2021-2028.
Tert butanol is used as a solvent for paints, lacquers, and varnishes.It is used also as an intermediate in the manufacturing of various pharmaceuticals and chemicals, including tert-butyl chloride, tert-butyl phenol, tert-butyl hydroperoxide, isobutylene, methyl methacrylate; methyl tert-butyl ether (MTBE); and ethyl tert-butyl ether (ETBE).
The compound is also used in the synthesis of flavors and perfumes.
Based on region, the tert butanol market is segmented into North America, Europe, Asia Pacific (APAC), South and Central America (SAM), and Middle East & Africa (MEA).South and Central America is estimated to register the highest CAGR in the market during the forecast period.
The tert butanol market in this region is further segmented into Brazil, Argentina, and the Rest of South and Central America. Evonik Industries AG; LyondellBasell Industries Holdings B.V.; and Tokyo Chemical Industry Co., Ltd. are a few of the players operating in the South and Central America tert butanol market. Brazil is the largest automotive producer in South and Central America. The market players operating in the region cater to industries such as fragrance, paint, and coatings.
The COVID-19 pandemic has drastically altered the status of the chemicals and industrial sectors, and consequently hindered the growth of the tert butanol market.The implementation of measures to combat the spread of SARS-CoV-2 has aggravated the situation.
The sudden distortion in operational efficiencies and disruptions in value chains due to sudden shutdown of national and international boundaries have hampered the performance of the flavors and fragrances, paints and coatings, and pharmaceuticals industries, among others.Further, the pandemic also led to discontinuations in product orders and deliveries, along with cancellations and order backlogs.
The significant decline in the growth of several sectors has led to lowered demand for tert butanol.However, the compound is gradually emerging as a preferred freeze desiccant in the biomedicals industry.
Moreover, continuous surge in research activities necessitates the preservation of vaccines, blood samples, purified proteins, and many other biological materials, which is contributing to the tert butanol market growth. Tert-butanol is a solvent with high vapor pressure, and low toxicity and melting point, and it is a trending freeze-drying agent. Nevertheless, as the economies are planning to revive their operations, the demand for tert butanol is expected to rise globally. However, the focus on just-in-time production is another concerning factor hindering the market growth.
Alfa Aesar; Evonik Industries Ag; Finar Limited; Kuraray Co., Ltd.; Lotte Chemical Titan Corporation; Lyondellbasell Industries Holdings B.V.; Merck Kgaa; Sisco Research Laboratories Pvt. Ltd.; Tiande Chemical Holdings Limited; Tokyo Chemical Industry Co., Ltd. (TCI) are among the well-established players operating in the global tert butanol market.
The global tert butanol market size has been derived in accordance with both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the tert butanol market.
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