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The butyraldehyde market share is expected to increase by USD 73.61 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.48%.
This butyraldehyde market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers butyraldehyde market segmentation by type (n-butanol, 2-ethyl hexanol, polyvinyl butyral, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The butyraldehyde (butanal) market report also offers information on several market vendors, including Aurochemicals, BASF SE, Beijing Yunbang Biosciences Co.Ltd., Eastman Chemical Co., Hebei Xinji Chemical Group Co. Ltd., KH Neochem Co. Ltd., Loba Chemie Pvt. Ltd., Merck KGaA, Mitsubishi Chemical Corp., National Analytical Corp., OQ SAOC, Otto Chemie Pvt. Ltd., Perstorp Holding AB, Saanvi Corp., Santa Cruz Biotechnology Inc., The Dow Chemical Co., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., Toronto Research Chemicals Inc., and Xiamen Hisunny Chemical Co. Ltd among others.
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The increasing demand for paints and coatings in the automotive industry is notably driving the butyraldehyde market growth, although factors such as health issues associated with high exposure to butyraldehyde may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the butyraldehyde industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Butyraldehyde Market Driver
The increasing demand for paints and coatings in the automotive industry is one of the key drivers fueling the butyraldehyde market growth. Paints and coatings have several applications in the automotive industry. Well, the easy applicability of automotive paints and coatings makes them highly preferred in the automotive industry. Moreover, the superior gloss, durability, and cost-effectiveness of paints and coatings make them popular among automakers. Acrylic- and epoxy-based enamels have long lifespans as they form a hard shell on surfaces once dried. Therefore, the growth in the automotive industry will increase the demand for paints and coatings, which, in turn, will boost the growth of the market during the forecast period.
Key Butyraldehyde Market Trend
The growing use of butyraldehyde in the fragrance industry is one of the key butyraldehyde (butanal) market trends propelling market growth. Butyraldehyde is an organic compound used as a fragrance intermediate in the fragrance industry and when it is concentrated, it has a pungent odor, and when diluted, it has a clear fragrance. Butyraldehyde is an important chemical raw material for the preparation of essence and perfume. Meanwhile, there is a growing importance of grooming and increasing focus on lifestyles among the consumers, which are the major factors boosting the growth of the fragrances industry. Thus, the rising demand for fragrances will spur the demand for butyraldehyde in the forecasted period.
Key Butyraldehyde Market Challenge
Health issues associated with high exposure to butyraldehyde is one of the factors limiting the butyraldehyde market growth. There are several health issues related to increased exposure to butyraldehyde. Some of the health risks associated with the use of butyraldehyde are as follows: Butyraldehyde contact can irritate and burn the skin and eyes. Inhaling of butyraldehyde can irritate the lungs, causing coughing and/or shortness of breath. Higher exposures can cause a formation of fluid in the lungs, which is considered a medical emergency with severe shortness of breath. Thus, such high health risks associated with exposure to butyraldehyde can refrain its uses which can hamper the growth of the market during the forecast period.
This butyraldehyde market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global butyraldehyde market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the butyraldehyde market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the butyraldehyde market encompasses successful business strategies deployed by the key vendors. The butyraldehyde market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The butyraldehyde market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the butyraldehyde market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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42% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the butanal market in APAC. Market growth in this region will be slower than the growth of the market in South America.
The rising demand for paints and coatings in the construction and automobile industries will facilitate the butyraldehyde market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 hampered the growth of the butyraldehyde market in APAC. However, the market started recovering with the lifting of lockdowns, large-scale vaccination drives, and resumption of operations in end-user industries such as construction and automobile. This, in turn, will drive market growth during the forecast period.
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The butyraldehyde market share growth by the n-butanol segment will be significant during the forecast period. The n-butanol segment is expected to grow significantly during the forecast period owing to rising demand from paints and coatings applications in various end-user industries. It is used as an ingredient in producing acrylates and then in producing paints, coatings, adhesives, fibers, and others. Thus, increasing demand for such products from various end-use industries can drive demand from end-user industries, which, in turn, will propel the growth of the segment of the market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the butanal market size and actionable market insights on post COVID-19 impact on each segment.
Butyraldehyde Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.48% |
Market growth 2022-2026 |
$ 73.61 million |
Market structure |
Fragmented |
YoY growth (%) |
7.38 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key consumer countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Aurochemicals, BASF SE, Beijing Yunbang Biosciences Co.Ltd., Eastman Chemical Co., Hebei Xinji Chemical Group Co. Ltd., KH Neochem Co. Ltd., Loba Chemie Pvt. Ltd., Merck KGaA, Mitsubishi Chemical Corp., National Analytical Corp., OQ SAOC, Otto Chemie Pvt. Ltd., Perstorp Holding AB, Saanvi Corp., Santa Cruz Biotechnology Inc., The Dow Chemical Co., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., Toronto Research Chemicals Inc., and Xiamen Hisunny Chemical Co. Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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