San Francisco, 10
September 2018: The global bio-butanol market is
expected to reach USD 17.78 billion by 2022, according to a new report by Grand
View Research, Inc. Bio-butanol market is expected to witness significant
growth in the next seven years owing to rising need for bio-based chemicals in
place of petroleum based chemicals owing to their similar material
characteristics, in addition to lower carbon footprints.
Tight raw material
supply on account of food consumption being primary focus of corn and sugarcane
is expected to be a major concern over the forecast period. Bio-butanol
can be used as a drop-in replacement to petroleum-based butanol in all its
applications. Depleting petroleum resources coupled with volatile oil prices
has contributed towards the increasing need for bio-butanol.
Glycol ethers are
expected to grow at a CAGR of 10.9% from 2015 to 2022, in terms of revenue.
Rising demand for glycol ethers on account of their various applications
including solvents in liquid soaps, cosmetics, cleaning compounds, resins,
paints, perfume and inks is expected to fuel growth in the next seven
years.
Access Research Report
of Bio-butanol Market@ www.grandviewresearch.com/industry-analysis/bio-butanol-industry
Further key findings from the study suggest:
· Prevalence of favorable government support
for use of bio-based products coupled with stringent environment regulations on
synthetically derived products is expected to augment growth in North America
and Europe over the forecast period. Growing demand for greener paints and
coatings in Asia Pacific has resulted in stimulating demand over the last few
years. Low manufacturing cost and ease of refining is driving demand from
various end use industries.
· Bio-butanol demand in acetates exceeded 780
kilo tons in 2014. Growing demand from the textile industry is expected to
stimulate growth over the next seven years. They are increasingly being used in
detergents, cleaners and polishes which has augmented growth.
· Europe bio-butanol market accounted for
over 25.0% of the global market volume share in 2014. Government initiatives
and stringent environment regulations has resulted in driving demand over the
past few years and the trend is expected to continue over the forecast period.
Presence of numerous manufacturers in Western Europe has been a major factor propelling
growth.
· Green Biologics, Solvay, Butamax, Cobalt
Technologies and Gevo dominated the global industry in 2014. These companies
are integrated across various stages of the value chain. Integration across
numerous stages of the value chain results in continuous raw material supply as
well as low manufacturing cost.
· Advancement in fermentation and cellulosic
extraction technology over the last few years has been a major reason for
shifting trend towards bio-butanol. Joint ventures and alliances among various
manufacturers and suppliers is a key feature of this market.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/renewable-energy
Grand View Research has
segmented the bio-butanol market on the basis of application and region:
Bio-butanol Application Outlook (Revenue, USD
Million, 2012 - 2022)
·
Acrylates
·
Acetates
·
Glycol ethers
·
Solvents
·
Plasticizers
·
Others
Bio-butanol Regional Outlook (Revenue, USD Million, 2012
- 2022)
·
North America
o
U.S.
·
Europe
o
Germany
o
France
·
Asia Pacific
o
China
o
Japan
·
RoW
o
Brazil
Access Press Release of
Bio-butanol Market@ www.grandviewresearch.com/press-release/global-bio-butanol-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research
reports, customized research reports, and consulting services. To help
clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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