Strategic Overview of the Butylene Carbonate Market
Butylene carbonate is an organic compound containing double ester group as well as carbonate as a functional group. It widely used as polar solvent in organic and inorganic materials, inks, colors, agriculture, fibers, surfactants, dyes, and batteries. Additionally, butylene carbonate is employed as binder for foundry sand molds, gallant for clay, crosslinking agent for superabsorbent polymers, and additive in fuel and hydraulic fluids. It is also used for the separation of carbon dioxide, hydrogen sulfide, and aromatic hydrocarbon in refinery operations. Butylene carbonate is extensively used in components of electrolytes in lithium-ion batteries due to its high polarity, solubility, and boiling point.
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The global butylene carbonate market can be segmented based on form and end-user. In terms of form, the market can be bifurcated into solid and liquid. In terms of end-user, the market can be divided into automotive, oil & gas, industrial, medical, and personal care & hygiene. Automotive is the leading segment of the butylene carbonate market. Rise in demand for electric vehicles and consumer electronics is boosting the demand for lithium-ion batteries. This, in turn, is propelling the global butylene carbonate market. Lithium-ion batteries are rechargeable and require less recharging vis-à-vis their counterparts such as lead batteries, which require high recharging time. Increase in demand for electrolytes with better efficacy and light weight batteries is driving the demand for butylene carbonate.
Rise in demand for environmentally-safer solvents in various end-user industries such as oil & gas, automotive, and chemical is also augmenting the global butylene carbonate market. Butylene carbonate is an environmentally-safer solvent compared to methylene chloride, acetone, and aromatic solvents. It possesses excellent solvency properties, low VOC, low toxicity, low evaporation rates, and high boiling points. Thus, it is ideal for usage in many solvent applications. Fluctuation in prices of raw materials is expected to hamper the butylene carbonate market during the forecast period. However, rise in demand for hybrid solvents is anticipated to provide lucrative opportunities to manufacturers during the forecast period.
In terms of region, the global butylene carbonate market can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific dominates the market. It is followed by Europe. China is the leading consumer of butylene carbonate in Asia Pacific. Increase in demand for electric cars in China and South Korea; and rise in demand for automotive coatings in developing economies in Asia Pacific are estimated to boost the demand for butylene carbonate in the region during the forecast period. Implementation of stringent regulations on fossil fuel depletion is also propelling the demand for electric cars in North America and Europe.
This is driving the demand for lithium batteries, and in turn, butylene carbonate in these regions. Germany is a hub of the automotive industry. Butylene carbonate is used in various end-user industries the country due to its properties such as high viscosity index, better thermal resistance, and optimum performance in wide rage on temperatures. This is augmenting the market in Europe. The market in Middle East & Africa and Latin America is expanding at slower pace compared to mature economies. GCC, Brazil, Mexico, and South Africa are dependent on import of raw materials for manufacturing butylene carbonate and automotive. Increase in merger & acquisition activities among automotive manufacturers in regions such as GCC and Mexico is projected to fuel the demand for butylene carbonate in the near future.
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Key players operating in the global butylene carbonate market include Huntsman Corporation, BASF SE, Oriental Union Chemical Corporation, and Mitsubishi Chemical.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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Read Report Overview @
https://www.transparencymarketresearch.com/butylene-carbonate-market.html
The global butylene carbonate market can be segmented based on form and end-user. In terms of form, the market can be bifurcated into solid and liquid. In terms of end-user, the market can be divided into automotive, oil & gas, industrial, medical, and personal care & hygiene. Automotive is the leading segment of the butylene carbonate market. Rise in demand for electric vehicles and consumer electronics is boosting the demand for lithium-ion batteries. This, in turn, is propelling the global butylene carbonate market. Lithium-ion batteries are rechargeable and require less recharging vis-à-vis their counterparts such as lead batteries, which require high recharging time. Increase in demand for electrolytes with better efficacy and light weight batteries is driving the demand for butylene carbonate.
Rise in demand for environmentally-safer solvents in various end-user industries such as oil & gas, automotive, and chemical is also augmenting the global butylene carbonate market. Butylene carbonate is an environmentally-safer solvent compared to methylene chloride, acetone, and aromatic solvents. It possesses excellent solvency properties, low VOC, low toxicity, low evaporation rates, and high boiling points. Thus, it is ideal for usage in many solvent applications. Fluctuation in prices of raw materials is expected to hamper the butylene carbonate market during the forecast period. However, rise in demand for hybrid solvents is anticipated to provide lucrative opportunities to manufacturers during the forecast period.
In terms of region, the global butylene carbonate market can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific dominates the market. It is followed by Europe. China is the leading consumer of butylene carbonate in Asia Pacific. Increase in demand for electric cars in China and South Korea; and rise in demand for automotive coatings in developing economies in Asia Pacific are estimated to boost the demand for butylene carbonate in the region during the forecast period. Implementation of stringent regulations on fossil fuel depletion is also propelling the demand for electric cars in North America and Europe.
This is driving the demand for lithium batteries, and in turn, butylene carbonate in these regions. Germany is a hub of the automotive industry. Butylene carbonate is used in various end-user industries the country due to its properties such as high viscosity index, better thermal resistance, and optimum performance in wide rage on temperatures. This is augmenting the market in Europe. The market in Middle East & Africa and Latin America is expanding at slower pace compared to mature economies. GCC, Brazil, Mexico, and South Africa are dependent on import of raw materials for manufacturing butylene carbonate and automotive. Increase in merger & acquisition activities among automotive manufacturers in regions such as GCC and Mexico is projected to fuel the demand for butylene carbonate in the near future.
Request to view Sample Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=50244
Key players operating in the global butylene carbonate market include Huntsman Corporation, BASF SE, Oriental Union Chemical Corporation, and Mitsubishi Chemical.
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com