The global butyl glycol market is estimated to garner a revenue of USD 5 billion by the end of 2033 by growing at a CAGR of ~4% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 4 billion in the year 2022. The growth of the market can be attributed to the increasing demand for water and solvent-based paints, backed by the growing construction activities along with the rise in spending on construction projects. Water and solvent-based paint are usually used for painting home interiors. Furthermore, rapid growth in the urbanization process coupled with significant migration of people from rural to urban areas also boosting the demand for the construction of new buildings. Therefore, it is also anticipated to increase the demand for water and solvent-based paint, which in turn is expected to boost the butyl glycol market. For instance, according to an analysis of data from the U.S. Census Bureau released today by the Associated Builders and Contractors, national non-residential construction spending grew by approximately 0.7% in July 2022 in the United States.
Get more information on this reportButyl glycol is most frequently employed as a coalescing agent and solvent in water-based paints, varnishes, and inks, where it prolongs drying times and increases product flow. Additionally, it effectively improves the flow of urea, melamine, and phenolic stove coatings. Hence, these factors are also expected to influence market growth over the forecast period. Additionally, the growing inclination of people toward home decor is also anticipated to boost the growth of the market over the forecast period. It was estimated that globally, any average home requires painting every 6 to 10 years, while the actual interval depends on the material and the area.
Base Year |
2022 |
Forecast Year |
2023-2033 |
CAGR |
~4% |
Base Year Market Size (2022) |
~ USD 4 Billion |
Forecast Year Market Size (2033) |
~ USD 5 Billion |
Regional Scope |
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Growing Demand for Paint & Coating owing to Rapid Construction of Building – Every year, nearly 1 million house units are planned solely in the USA which is an increase from 550,000 in 2009. Additionally, approximately 199 million gallons of paint are sold annually. Butyl glycol is highly used in paints since it is a low-volatility solvent that can decrease the drying time of coating. Owing to the shift of more people towards cities, urbanization is growing. Hence, the demand for houses has been increasing further leading to a boost in construction activity. All these factors are ultimately expected to boost the growth of the market.
Rising Utilization of Butyl Glycol in Automotive Parts – Butyl glycol is highly used in automotive parts since it is high-boiling, low-volatility, that can maintain the right engine temperature. It is also used in the snowmelt system and hydronic heating. For instance, in 2021, around 55 million passenger cars were produced across the globe.
Increasing Demand for Butyl Glycol in the Oil & Gas Industry – It is estimated that around 17 million barrels of oil are consumed every day globally, and in 2020, the Middle East was stated to hold approximately 48% of the recognized oil reserve.
Growing Utilization of Butyl Glycol in Cosmetics – Butyl glycol is heavily used in several types of functional cosmetics since it has healing properties to cure frequent breakouts in facial skin. Skincare became the second-largest branch of the beauty industry by exhibiting approximately 22% around the world.
The global butyl glycol market is segmented and analyzed for demand and supply by functions into solvents, plasticizers, and chemical intermediates. Out of these sub-segments, the solvents segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing usage of butyl glycol solvents of pesticides and fungicides in the fields to protect crops from weeds, insects, and several fungal diseases. About a billion pounds of chemical solvents are applied to crops in the US each year, including fruits, nuts, and vegetables. Furthermore, butyl glycol is also used at a higher scale as a solvent in water-based inks, paints, and others owing to its bi-functional nature. For instance, in 2018, more than 3 million tons of printing ink were utilized across the globe.
The global butyl glycol market is also segmented and analyzed for demand and supply by end-user into paints & coatings, printing inks, metalworking fluids, automotive, oil & gas, and electrical & electronics. Among these, the oil & gas segment is expected to garner a significant share. Butyl glycol is used in the oil & gas industry to eliminate the formation of hydrates that can result in pipeline blockage. Pipelines are used to provide gas in urban areas, for instance, nearly 200 miles of interstate natural gas pipeline are used to deliver gas in the United States to consumers. Furthermore, butyl glycol is also used to decrease the inlet and outlet of the gas flow from the pipelines.
Our in-depth analysis of the global butyl glycol market includes the following segments:
By Functions |
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By End-User |
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The Asia Pacific butyl glycol market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the rising inclination of the population toward home interior design, backed by the up-surged construction of building in the region to provide homes for overflowing populations moving to urban areas and also expanding in rural areas. For instance, the Asian construction industry is projected to reach approximately USD 4,000 billion in 2023. Additionally, Asia also dominates the field of the automotive industry, where butyl glycol is highly recommended and used to maintain the engine temperature. Hence, propelling the demand for butyl glycol over the forecast period. For instance, in 2021, more than 34 million units of passenger cars were sold across Asia. Furthermore, the overflowing population has also spurred the requirement for the construction of pipelines to facilitate daily utility, and gas is one of them. It is a well-known fact that butyl glycol is heavily used in gas pipelines to prevent hydrate formation, so the pipelines will never be blocked in their lifetime. Based on the data released by the International Energy Agency (IEA), it was stated that the demand for gas in Asia can drop to 275 BCM by 2025.
Sadara Chemical Company
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Growing demand for paint & coating owing to the rapid construction of the building are the major factors driving the market growth.
Ans: The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2023 – 2033.
Ans: Negative impacts on health owing to its toxic nature are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Anshika Polysurf Limited, Nippon Nyukazai Co. Ltd., Lotte Chemical, Sasol Limited, Lyondell Basell Industries B.V., Eastman Chemical Company, Asia Pacific Petrochemicals Co Ltd, Dow Chemical Company, BASF SE, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by functions, end-user, and by region.
Ans: The solvents segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
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