Market Introduction
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.
Market Overview and Dynamics
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.
Key Market Segments
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
Major Sources and Companies Listed
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.
Reasons to buy report
- To understand the North America tert butanol market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America tert butanol market
- Efficiently plan M&A and partnership deals in North America tert butanol market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America tert butanol market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Tert Butanol Market Segmentation
North America Tert Butanol Market – By Purity
- ≥99
- ≤99
North America Tert Butanol Market – By End Use
- Flavors and Fragrances
- Paints and Coatings
- Pharmaceuticals
- Others
North America Tert Butanol Market – By Application
- Solvents and Intermediates
- Ethanol Denaturants
- MTBEs and ETBEs
- Methylmethacrylates (MMAs)
- Others
North America Tert Butanol Market – By Country
- US
- Canada
- Mexico
North America Tert Butanol Market – Companies Mentioned
- Alfa Aesar
- Evonik
- FINAR CHEMICALS
- KURARAY CO., LTD.
- LOTTE CHEMICAL TITAN HOLDING BERHAD
- LyondellBasell Industries Holdings B.V.
- Merck KGaA
- Tiande Chemical Holdings Limited
- Tokyo Chemical Industry Co., Ltd.
North America Tert Butanol Market Strategic Insights
North America Tert Butanol Market Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 1,208.95 Million |
| Market Size by 2028 | US$ 1,424.75 Million |
| CAGR (2021 - 2028) | 2.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Purity
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Regions and Countries Covered
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| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
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North America Tert Butanol Market Country and Regional Insights
