Butyl Glycol Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Butyl Glycol Market By Function (Solvent, Coalescing Aid, Chemical Intermediate, Plasticizer, and Others), Application (Paints and Coatings, Printing Inks, Metal Working Fluid, Polymer & Plastics, and Others), End User (Building & Construction, Automotive Industry, Chemicals Industry, Electrical & Electronics, Agriculture, Cleaning, Oil & Gas, and Others) and Geography

 

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Report

Description

Butyl Glycol Market size is expected to be valued at USD 960.1 million in 2022, growing at a 5.3% CAGR from 2022 to 2028. 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 Developments:

In Aug 2020, Lotte Chemical has taken over a Vietnamese high-tech material company to attain its vision of becoming the seventh-largest chemical industry in the world.

In May 2020, Lotte Chemical has invested 161.7 billion won to acquire a 4.46 percent stake in Japanese chemical company Showa Denko.

Butyl Glycol Market

MARKET SUMMARY
-
5.3%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 5.3%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– North America

Butyl Glycol Market

  • The global butyl glycol market report gives a comprehensive outlook across the globe with particular emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
  • The report on the global butyl glycol market gives historical, current, and future market sizes on the basis of function, application, end user, and geography.
Key Players
  • Sadara Chemical Company
  • Anshika Polysurf Ltd.
  • Nippon Nyukazai Co. Ltd.
  • Lotte Chemical Corporation
  • Lyondell Basell Industries N.V.
  • Eastman Chemical Corporation
Butyl Glycol Market Dynamics

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.


North-America Got Significant Share

Butyl Glycol Market

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
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The butyl glycol market report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and startup details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Butyl Glycol Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The butyl glycol market is projected to expand at a CAGR of 5.3% during the forecast period

Sadara Chemical Company, Anshika Polysurf Ltd., Nippon Nyukazai Co. Ltd., Lotte Chemical Corporation, Lyondell Basell Industries N.V., Eastman Chemical Corporation

North America is the fastest-growing region for the butyl glycol market


Report

Table Of Content

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, 2017-2021 and Forecast, 2022-2028
4.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
5.1. Solvent
5.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
6.1. Paints and Coatings
6.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
7.1. Building & Construction
7.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
8.1. North America
8.1.1. Market Analysis, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2017-2021 and Forecast, 2022-2028 (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, 2022-2028
9. North America Butyl Glycol Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
9.1. Function Analysis 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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, 2022-2028
9.6. North America Butyl Glycol Market Dynamics – Trends
10. Europe Butyl Glycol Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
10.1. Function Analysis 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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, 2022-2028
10.6. Europe Butyl Glycol Market Dynamics – Trends
11. Asia-Pacific Butyl Glycol Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
11.1. Function Analysis 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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, 2022-2028
11.6. Asia-Pacific Butyl Glycol Market Dynamics – Trends
12. Latin America Butyl Glycol Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
12.1. Function Analysis 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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, 2022-2028
12.6. Latin America Butyl Glycol Market Dynamics – Trends
13. Middle East and Africa Butyl Glycol Market Analysis, 2017-2021 and Forecast, 2022-2028 (Revenue, USD Mn)
13.1. Function Analysis 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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 2017-2021 and Forecast 2022-2028 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, 2022-2028
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

Report

Company Profile

  • 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

Description

Butyl Glycol Market size is expected to be valued at USD 960.1 million in 2022, growing at a 5.3% CAGR from 2022 to 2028. 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 Developments:

In Aug 2020, Lotte Chemical has taken over a Vietnamese high-tech material company to attain its vision of becoming the seventh-largest chemical industry in the world.

In May 2020, Lotte Chemical has invested 161.7 billion won to acquire a 4.46 percent stake in Japanese chemical company Showa Denko.

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