2-Butoxyethanol Market was valued at USD 1.20 Billion in 2022 and is projected to reach USD 1.75 Billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
Looking ahead to the 2023 to 2033 period, the demand for 2-Butoxyethanol is projected to continue evolving, driven by emerging trends in various industries. The key sectors for 2-Butoxyethanol include automotive, construction, and textiles, where its solvent properties and ability to enhance formulation performance are highly valued. The global push toward sustainability, however, is likely to steer the market toward bio-based and less harmful alternatives, although 2-Butoxyethanol's cost-effectiveness may maintain its position as a favored solvent in some regions. Emerging markets, particularly in Asia-Pacific, are expected to be major contributors to demand growth due to rapid industrialization and urbanization.
From 2023 to 2033, demand is anticipated to rise in the Asia-Pacific region, as countries like India and China experience strong economic growth and increased infrastructure development. In North America and Europe, demand may stabilize as regulations around chemical usage become more stringent. In the automotive sector, the shift toward electric vehicles may lead to changes in chemical usage in car production processes, influencing the overall market dynamics. Meanwhile, the paint and coatings industry, which has been a key driver of demand, is expected to grow due to the increasing use of 2-Butoxyethanol in eco-friendly formulations and surface preparation.
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The global 2-Butoxyethanol market witnessed fluctuating demand from 2018 to 2022, with varying trends across industrial applications. As a solvent widely used in paints, coatings, cleaning products, and chemicals, its role in manufacturing and construction sectors has significantly influenced demand. In 2018, the market was stable, driven by its use in cleaning agents, but by 2019, demand saw an uptick as industrial production ramped up. However, from 2020 to 2022, the market experienced some turbulence due to the global pandemic, which temporarily disrupted supply chains and manufacturing operations. Despite this, the market showed signs of resilience as industries adapted to new conditions and resumed production. Several key players in the market, such as Dow Chemicals and Huntsman Corporation, continued to innovate and expand their production capacities, meeting the growing demand across multiple sectors.
Dow
BASF
Eastman
Sasol
Lotte Chemical
KH Chemicals
LyondellBasell
Asia Pacific Petrochemicals
Sadara Chemical Company
Recochem Inc.
Jiangsu Ruijia Chemical
Yidachem
Advance Petrochemicals Ltd.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global 2-Butoxyethanol Market
Coatings & Paints
Cleaners & Detergents
Inks & Dyes
Others
Based on Types the Market is categorized into Below types that held the largest 2-Butoxyethanol market share In 2023.
Industrial Grade
Commercial Grade
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global 2-Butoxyethanol Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global 2-Butoxyethanol Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global 2-Butoxyethanol Market, By Type
6. Global 2-Butoxyethanol Market, By Application
7. Global 2-Butoxyethanol Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global 2-Butoxyethanol Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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