Butyraldehyde Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The market for Butyraldehyde is projected to register a CAGR of  more than 5% during the forecast period (2021-2026).

COVID-19 has negatively impacted the butyraldehyde market. Manufacturing activities were halted due to supply chain disruptions and labour shortages or as a protective measure to stop the spread of virus, thereby negatively affecting the market. Various end-user industries such as agrochemicals, paints & coatings witnessed some major issues due to the COVID-19 pandemic, including the effects of nationwide lockdown, companies moving to source away from China, thereby effecting the market on a short term basis. Butyraldehyde is used as an intermediate in the production of the coatings, the fall in production of coatings has declined the demand for butyraldehyde. However, the market growth is expected to recover in 2021 with the uplift of lockdown and resumed work in many end-user industries.

• Over the long term, The increasing application in the paints and coatings sector has been driving the market growth.
• However, the health hazard, as well as environmental threats through direct contact of butyraldehyde and outbreak of coronavirus across the globe, are likely to hinder the growth of the studied market.
• The growing application of butyraldehyde in the pharmaceutical and agrochemical sectors is likely to provide opportunities for the butyraldehyde market over the next five years.
• N-Butanol is the most dominating product type of market studied.
• Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China and India.

Scope of the Report

Butyraldehyde (Butanal) is a colorless, pungent-smelling liquid. It is soluble but partially soluble in water in most organic solvents. It is used as an intermediate in most of the chemical processes. The market is segmented by product type, application, and geography. By product type, the market is segmented into n-butanol, 2-ethylhexanol, polyvinyl butyral, and others. By application paints and coatings, pharmaceutical, agrochemical, polymer, and others. The report also covers the market size and forecasts for the butyraldehyde in 16 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of  revenue (USD million).

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Key Market Trends

N-Butanol to Dominate the Market

• N-Butanol stands to be the dominating segment owing to extensive demand from paints and coatings applications in various end-user industries.
• N-Butanol is used as an ingredient in the manufacturing of acrylates that are then used in the production of paints and coatings, adhesives, textiles, and others. Increasing demand for such products from different end-user industries is likely to result in demand pulling from every phase of the value chain, thus driving market growth studied
• Production of paints and coatings is steadily increasing on the world market due to its demand from the applications of construction, and industrial coating. According to the Institution of Civil Engineers (ICE), The global construction industry is anticipated to reach USD 8 trillion by 2030.
• According to Worlds Paint and Coatings Industry Association, in 2020 the global sales volume of paints and coatings stood around USD 167.6 billion. The Paints and Coatings market is expect to project a CAGR of near to 3% till 2026.
• Adhesives demand is also rising, driven majorly by the growing construction and infrastructural activities, and increasing the need for furniture.
• All the aforementioned factors are expected to drive the butyraldehyde market during the forecast period.

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