North America Tert Butanol Market
No. of Pages: 137 | Report Code: TIPRE00025800 | Category: Chemicals and Materials
No. of Pages: 137 | Report Code: TIPRE00025800 | Category: Chemicals and Materials
The US, Canada, and Mexico are major economies in North America. The tert butanol market in North America has significant opportunities due to the high demand for tert butanol form various end-use industries, such as pharmaceuticals, and paint and coatings. Due to growing building and construction activities in North America, the demand for tert butanol is increasing from the downstream solvent and paint industries. There is a growing use of tert butanol as a chemical intermediate for a range of products. Dehydrated tert butanol in the form of high purity isobutylene has wide applications in fuel additives and lubricants. Additionally, the US has strong automotive industry that propels the demand for high purity isobutylene, which has the tyres and lubricants sectors as end markets.
North America is one of the worst affected economies due to COVID-19 pandemic. The US has the highest number of confirmed cases of COVID-19, compared to Canada and Mexico. The unprecedented rise in number of COVID-19 cases across the US and Canada and the subsequent lockdown of its numerous manufacturing facilities has negatively influenced the growth of the various markets. The significant disruption in manufacturing facilities along with raw material sourcing have had a negative impact upon the demand for tert butanol in country. In the same way, the pandemic had an intense impact upon the Canadian economy, causing it into a recession. However, the market is reviving on account of significant measures undertaken by government such as vaccination drives. With the state of economic recovery, several industrial sectors are strategically planning to invest in advanced products so as to maximize revenue. This is expected to provide impetus to market growth.
Strategic insights for the North America Tert Butanol provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,208.95 Million |
| Market Size by 2028 | US$ 1,424.75 Million |
| Global CAGR (2021 - 2028) | 2.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Purity
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Tert Butanol refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The tert butanol market in North America is expected to grow from US$ 1,208.95 million in 2021 to US$ 1,424.75 million by 2028; it is estimated to grow at a CAGR of 2.4% from 2021 to 2028. Tert-Butanol is a clear liquid with a camphor odor. In cosmetics and personal care products, tert-butanol is used in the formulation of perfumes, colognes, hair spray, aftershave lotions, nail polishes, and shaving products. With the increasing investment in research and development activities, manufacturers are coming up with new product applications that suit specific industry requirements. For instance, Evonik Industries AG has proved that tert butanol can also be used as a denaturant in cosmetic alcohols. It may be useful in the manufacturing of cosmetic products or odor enhancers. With the growing consumer preference for different fragrances, the demand for tert butanol is expected to offer lucrative opportunities for the growth of the tert butanol market in the near future for market players.
In terms of purity, the ≥99 accounted for the largest share of the North America tert butanol market in 2020. In term of end use, paints and coatings held a larger market share of the tert butanol market in 2020. Further, in term of application, the solvents and intermediates held a larger market share of the tert butanol market in 2020
A few major primary and secondary sources referred to for preparing this report on tert butanol market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are The Sherwin-Williams Company; Kobra Paint - Spray Art Technologies; Montana Colors S.L.; Nippon Paint Holdings Co., Ltd; PPG Industries Inc.; Rust Oleum; Masterchem Industries LLC; Plutonium Paint; and AVT Paints Pty Ltd among others.
The North America Tert Butanol Market is valued at US$ 1,208.95 Million in 2021, it is projected to reach US$ 1,424.75 Million by 2028.
As per our report North America Tert Butanol Market, the market size is valued at US$ 1,208.95 Million in 2021, projecting it to reach US$ 1,424.75 Million by 2028. This translates to a CAGR of approximately 2.4% during the forecast period.
The North America Tert Butanol Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Tert Butanol Market report:
The North America Tert Butanol Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Tert Butanol Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Tert Butanol Market value chain can benefit from the information contained in a comprehensive market report.
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