Butylene Carbonate Market Size, Share, Growth, and Industry Analysis, By Type (0.95, 0.98 & Other), By Application (Academic Research, Drug Research and Development & Others), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

REPORT OVERVIEW

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The global butylene carbonate market size is USD 8 million in 2022. As per our research, the market is expected to reach USD 12 million in 2028, exhibiting a CAGR of 8.3% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with butylene carbonate industry experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A form of organic chemical called butylene carbonate has a particular configuration of carbon, hydrogen, and oxygen atoms. Its chemical structure is C4H6O3. This substance is a member of the group of substances known as carbonates that are produced from carbonic acid. Four carbon atoms (C4), six hydrogen atoms (H6), and three oxygen atoms (O3) particularly make up the structure of butylene carbonate. It is a transparent, colorless liquid that can mix or dissolve a variety of compounds, making it a useful solvent for industrial uses.

Because of its capacity to dissolve various materials and support desired chemical reactions, it is frequently used in the manufacturing of coatings, paints, and polymers. In many different applications, it is frequently utilized as a solvent. It is helpful in sectors like coatings, adhesives, and polymers since it can dissolve a wide range of organic compounds. It can aid in improving the compositions' viscosity, stability, and spread ability.

COVID-19 Impact: Industry Shutdown Causes Market Distortion

For chemicals and advance materials, the COVID-19 outbreak resulted in issues like unstable markets, a decline in client confidence, and challenges with import and export business. The global supply chain includes the sourcing of raw materials, packaging, and distribution. Moving commodities, chemicals, and other items has become challenging due to lockdowns. It had a financial impact on the markets for material in addition to having an immediate impact on markets, supply chains, supply and demand, and all of these other things. Producers of chemicals are focusing on protecting their workforce, operations, and supply networks in order to handle this urgent situation. The pandemic impacted the industry dynamics, forcing organizations to revamp their entire operation structures to maintain stability amid the disruptions. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall chemicals and advanced materials industry. This has partially impacted the butylene carbonate industry. 

LATEST TRENDS

"Green Solutions"

The demand for sustainable and green solutions has been a significant trend of innovation and change in the chemical industry, including these carbonate industry. One approach to sustainability is using bio-based feedstocks for chemical production. Researchers are looking into ways to make butylene carbonate from renewable sources, reducing the need for fossil fuels and lowering carbon footprint. Sustainability objectives are in line with the development of recyclable or biodegradable coatings, adhesives, and other butylene carbonate-based products. These materials can help lessen trash generation and adverse environmental effects. For a better future, sustainable energy storage options are essential. The goal of research into these carbonate-based electrolyte-based batteries is to increase their lifespan, energy density, and safety while usage in energy storage systems. Thus, a key trend that is opening up potential for the industry to grow is the green solution. These new developments are mostly to blame for the market's overall growth.

SEGMENTATION

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• By Types 

Based on type, the market is classified into 0.95, 0.98 & Other.

• By Application

Based on the market is categorized into Academic Research, Drug Research and Development & Others.

DRIVING FACTORS

"Lithium-Ion Batteries that Give the Market Extra Boost"

The growing demand for lithium-ion batteries has been a significant driver for the butylene carbonate industry. Electric vehicles, portable devices, and renewable energy storage systems all make extensive use of lithium-ion batteries. It contributes to the performance and efficiency of lithium-ion batteries by acting as an electrolyte and solvent component. The move to electric vehicles has increased demand for lithium-ion batteries since it will help cut carbon emissions and reliance on fossil fuels. The propulsion systems of EVs are powered by these batteries. The demand for portable and lightweight energy storage solutions has increased due to the widespread use of smartphones, laptops, tablets, and wearable technology, which lithium-ion batteries satisfy. As a result, the growth, and the growth in growing demand for lithium-ion batteries will boost the industry. It will contribute to the expansion of the chemicals & advanced materials industry and it will improve the butylene carbonate market growth.

"Electronic Industry to Encourage Market Expansion"

The expansion of the electronics industry has played a significant role in driving the demand for butylene carbonate. Due to its qualities as a solvent and its compatibility with particular materials, it is utilized in a variety of applications within the electronics industry. In the electronics sector, it serves as a solvent for the production of goods including coatings, inks, and adhesives. Circuit boards, screens, and other electronic components and gadgets all depend on these items. PCBs are crucial for the assembly of electrical components in the electronics sector. During the fabrication of PCBs, its-based solutions can be used for cleaning, etching, and stripping operations. As a result, these factors are collectively promoting market expansion, increasing company revenues. As a result, above mentioned factors will help the market to boost.  

RESTRAINING FACTORS

"Fluctuations in Cost to Impede Market Expansion"

The market is hampered by shifting pricing for raw materials. Raw material price fluctuations have a big impact on the market. The price of the raw materials required to make these carbonates, such butylene oxide and carbon dioxide, can have an impact on the total cost of production and, consequently, the market price of these carbonates. This factor is impeding market expansion. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.

REGIONAL INSIGHTS

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"North America Dominating the Market Across the Globe Owing to Region’s Industrial Development"

The market for butylene carbonate is in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the butylene carbonate market share is the growing demand of product in the academic research, drug research and development is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.  

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

• TRC (U.S.)
• Apollo Scientific Ltd (U.K.)
• SynQuest (U.S.)
• Enamine Ltd (U.S.)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost butylene carbonate market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.