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Butyl Glycol Market: By Function, By Application, By End User and Geography
Butyl Glycol Market: By Function, By Application, By End User and Geography
Butyl Glycol Market size was valued at US$ 960.1 million in 2022, and is growing at a CAGR of 5.3% from 2023 to 2029. Butyl glycol is also known as BG, 2-butoxyethanol, glycol monobutyl ether, ethylene glycol monobutyl ether, butyl cellosolve, and butoxyethanol. It is a clear, colorless, oily liquid with a high boiling point, low volatility, and a mild fruity odor. It has a bi-functional nature, containing both ether and an alcohol group in the same molecule which has excellent miscibility makes it a versatile solvent and coupling agent which offers excellent performance features in various applications. It has been produced industrially for solvents in paints and surface coatings but also in inks and cleaning products. Butyl glycol is classed as an irritant, so great precaution and care must be taken during the handling and distribution process. Most butyl alcohol is used as a solvent in paints, inks, and coatings. Growing demand for paints and coating manufacturers, growing oil and gas production, increasing solvent application in industry, and various applications in the textile and fabric industry will boost the overall market of the global butyl glycol market. Butyl glycol also has surface active properties and hence is widely used in the cleaning and sterilizing industry. However, Butyl glycol is mildly toxic in nature which is the key restraining factor in the global market. According to an American report, it is carcinogenic for animals like rodents. Moreover, leading manufacturers in the global butyl glycol market are adopting strategies such as acquisitions, mergers, collaborations, and strategic partnerships to expand their production capacity to meet the surging demand for butyl glycol. Hence, the global glycol butyl market will expand at a faster pace in the forecasted years. Asia Specific held the largest share in the global butyl glycol market and is expected to grow at a prodigious CAGR in the upcoming years.
Recent Market Key Developments:
Study Period
2024-2030Base Year
2023CAGR
5.3%Largest Market
Asia PacificFastest Growing Market
North America
Increasing applications in various industries like building & construction, automotive industry, chemicals industry, electrical & electronics, agriculture, cleaning, and oil & gas will drive the global butyl glycol market. The paints and coating segment held the major market share worldwide and is expected to witness attractive growth further in the upcoming years. Rising demand for paints especially in economic countries is leading the market. Various applications such as the development of residential and commercial projects, such as industrial towers and houses, drive the global butyl glycol market. It is also widely used in the petroleum industry as a stabilizer, fracturing fluid, and dispersing agent. Hence, with the growing applications, the global butyl market is expected to flourish at a significant rate.
On the basis of regions, the market share is divided into North America, Asia-pacific, Europe, and the Middle East, and the African region. North America is the major manufacturer and market share holder worldwide. North America will dominate the global butyl market due to global manufacturers in this region, established base for building & construction, and rising income levels. According to American Census Report, total construction spending during June 2022 was estimated at a seasonally adjusted annual rate of $1,762.3 billion. The Butyl Glycol market in the Asia Pacific is likely to hold a significant revenue share in 2021, and, in the following years, it is predicted to increase rapidly due to various applications and increasing demand for inexpensive less volatile industrial solvents.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2022 |
US$ 960.1 million |
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Market CAGR |
5.3% |
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By Material Type |
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By Application |
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By End User |
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The butyl glycol market size was valued at US$ 960.1 million in 2022
The butyl glycol market key players are: Sadara Chemical Company Anshika Polysurf Ltd. Nippon Nyukazai Co. Ltd. Lotte Chemical Corporation Lyondell Basell Industries N.V. Eastman Chemical Corporation Asia Pacific Petrochemicals Co Ltd Dow Chemical Company BASF SE KH Chemicals Solventis INEOS
The butyl glycol market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Butyl Glycol Market Introduction |
| 2.1. Global Butyl Glycol Market – Taxonomy |
| 2.2. Global Butyl Glycol Market –Definitions |
| 2.2.1. By Function |
| 2.2.2. By Application |
| 2.2.3. By End User |
| 2.2.4. By Region |
| 3. Global Butyl Glycol Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Butyl Glycol Market Dynamic Factors - Impact Analysis |
| 3.6. Global Butyl Glycol Market – Competition Landscape |
| 3.7. Epidemiology |
| 4. Global Butyl Glycol Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 |
| 4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Butyl Glycol Market, By Function, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1. Solvent |
| 5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Coalescing Aid |
| 5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Chemical Intermediate |
| 5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Plasticizer |
| 5.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Others |
| 5.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6. Global Butyl Glycol Market, By Application, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.1. Paints and Coatings |
| 6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Printing Inks |
| 6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Metal Working Fluid |
| 6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Polymer & Plastics |
| 6.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Others |
| 6.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7. Global Butyl Glycol Market, By End User, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1. Building & Construction |
| 7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Automotive Industry |
| 7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Chemicals Industry |
| 7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Electrical & Electronics |
| 7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Agriculture |
| 7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Cleaning |
| 7.6.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.6.3. Market Opportunity Analysis |
| 7.7. Oil & Gas |
| 7.7.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.7.3. Market Opportunity Analysis |
| 7.8. Others |
| 7.8.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.8.3. Market Opportunity Analysis |
| 8. Global Butyl Glycol Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia-Pacific |
| 8.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Latin America |
| 8.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Middle East and Africa |
| 8.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Global Butyl Glycol Market - Opportunity Analysis Index, By Function, By Application, By End User, and Region, 2023 - 2029 |
| 9. North America Butyl Glycol Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 9.1. Function Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Solvent |
| 9.1.2. Coalescing Aid |
| 9.1.3. Chemical Intermediate |
| 9.1.4. Plasticizer |
| 9.1.5. Others |
| 9.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Paints and Coatings |
| 9.2.2. Printing Inks |
| 9.2.3. Metal Working Fluid |
| 9.2.4. Polymer & Plastics |
| 9.2.5. Others |
| 9.3. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Building & Construction |
| 9.3.2. Automotive Industry |
| 9.3.3. Chemicals Industry |
| 9.3.4. Electrical & Electronics |
| 9.3.5. Agriculture |
| 9.3.6. Cleaning |
| 9.3.7. Oil & Gas |
| 9.3.8. Others |
| 9.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.4.1. USA |
| 9.4.2. Canada |
| 9.5. North America Butyl Glycol Market - Opportunity Analysis Index, By Function, By Application, By End User, and Country, 2023 - 2029 |
| 9.6. North America Butyl Glycol Market Dynamics – Trends |
| 10. Europe Butyl Glycol Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 10.1. Function Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Solvent |
| 10.1.2. Coalescing Aid |
| 10.1.3. Chemical Intermediate |
| 10.1.4. Plasticizer |
| 10.1.5. Others |
| 10.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Paints and Coatings |
| 10.2.2. Printing Inks |
| 10.2.3. Metal Working Fluid |
| 10.2.4. Polymer & Plastics |
| 10.2.5. Others |
| 10.3. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Building & Construction |
| 10.3.2. Automotive Industry |
| 10.3.3. Chemicals Industry |
| 10.3.4. Electrical & Electronics |
| 10.3.5. Agriculture |
| 10.3.6. Cleaning |
| 10.3.7. Oil & Gas |
| 10.3.8. Others |
| 10.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Germany |
| 10.4.2. UK |
| 10.4.3. France |
| 10.4.4. Spain |
| 10.4.5. Italy |
| 10.4.6. Rest of Europe |
| 10.5. Europe Butyl Glycol Market - Opportunity Analysis Index, By Function, By Application, By End User, and Country, 2023 - 2029 |
| 10.6. Europe Butyl Glycol Market Dynamics – Trends |
| 11. Asia-Pacific Butyl Glycol Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 11.1. Function Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Solvent |
| 11.1.2. Coalescing Aid |
| 11.1.3. Chemical Intermediate |
| 11.1.4. Plasticizer |
| 11.1.5. Others |
| 11.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Paints and Coatings |
| 11.2.2. Printing Inks |
| 11.2.3. Metal Working Fluid |
| 11.2.4. Polymer & Plastics |
| 11.2.5. Others |
| 11.3. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Building & Construction |
| 11.3.2. Automotive Industry |
| 11.3.3. Chemicals Industry |
| 11.3.4. Electrical & Electronics |
| 11.3.5. Agriculture |
| 11.3.6. Cleaning |
| 11.3.7. Oil & Gas |
| 11.3.8. Others |
| 11.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. China |
| 11.4.2. India |
| 11.4.3. Japan |
| 11.4.4. ASEAN |
| 11.4.5. Australia & New Zealand |
| 11.4.6. Rest of Asia-Pacific |
| 11.5. Asia-Pacific Butyl Glycol Market - Opportunity Analysis Index, By Function, By Application, By End User, and Country, 2023 - 2029 |
| 11.6. Asia-Pacific Butyl Glycol Market Dynamics – Trends |
| 12. Latin America Butyl Glycol Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 12.1. Function Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Solvent |
| 12.1.2. Coalescing Aid |
| 12.1.3. Chemical Intermediate |
| 12.1.4. Plasticizer |
| 12.1.5. Others |
| 12.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Paints and Coatings |
| 12.2.2. Printing Inks |
| 12.2.3. Metal Working Fluid |
| 12.2.4. Polymer & Plastics |
| 12.2.5. Others |
| 12.3. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Building & Construction |
| 12.3.2. Automotive Industry |
| 12.3.3. Chemicals Industry |
| 12.3.4. Electrical & Electronics |
| 12.3.5. Agriculture |
| 12.3.6. Cleaning |
| 12.3.7. Oil & Gas |
| 12.3.8. Others |
| 12.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Brazil |
| 12.4.2. Mexico |
| 12.4.3. Rest of Latin America |
| 12.5. Latin America Butyl Glycol Market - Opportunity Analysis Index, By Function, By Application, By End User, and Country, 2023 - 2029 |
| 12.6. Latin America Butyl Glycol Market Dynamics – Trends |
| 13. Middle East and Africa Butyl Glycol Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 13.1. Function Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Solvent |
| 13.1.2. Coalescing Aid |
| 13.1.3. Chemical Intermediate |
| 13.1.4. Plasticizer |
| 13.1.5. Others |
| 13.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.2.1. Paints and Coatings |
| 13.2.2. Printing Inks |
| 13.2.3. Metal Working Fluid |
| 13.2.4. Polymer & Plastics |
| 13.2.5. Others |
| 13.3. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.3.1. Building & Construction |
| 13.3.2. Automotive Industry |
| 13.3.3. Chemicals Industry |
| 13.3.4. Electrical & Electronics |
| 13.3.5. Agriculture |
| 13.3.6. Cleaning |
| 13.3.7. Oil & Gas |
| 13.3.8. Others |
| 13.4. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Gulf Cooperation Council (GCC) Countries |
| 13.4.2. South Africa |
| 13.4.3. Rest of MEA |
| 13.5. MEA Butyl Glycol Market - Opportunity Analysis Index, By Function, By Application, By End User, and Country, 2023 - 2029 |
| 13.6. MEA Butyl Glycol Market Dynamics – Trends |
| 14. Competition Landscape |
| 14.1. Strategic Dashboard of Top Market Players |
| 14.2. Company Profiles (Introduction, Financial Analysis, Key Functions, Key Developments, Strategies, and SWOT Analysis) |
| 14.2.1. Sadara Chemical Company |
| 14.2.2. Anshika Polysurf Ltd. |
| 14.2.3. Nippon Nyukazai Co. Ltd. |
| 14.2.4. Lotte Chemical Corporation |
| 14.2.5. Lyondell Basell Industries N.V. |
| 14.2.6. Eastman Chemical Corporation |
| 14.2.7. Asia Pacific Petrochemicals Co Ltd |
| 14.2.8. Dow Chemical Company |
| 14.2.9. BASF SE |
| 14.2.10. KH Chemicals |
| 14.2.11. Solventis |
| 14.2.12. INEOS |
| 15. Research Methodology |
| 16. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.