Market Introduction
The tert butanol market in Asia Pacific is segmented into Australia, China, India, Japan, South Korea, and Rest of Asia Pacific. Tert butanol is a versatile solvent. It is ideal to use in many industries such as pharmaceutical, flavor and fragrance etc. which is providing growth opportunities for the tert butanol market in the region. Rising construction activities owing to the increase in infrastructure development in countries such as China and India coupled with growing automotive industry drive the demand for tert butanol. China has the fastest growing chemical industry. There is a high demand for tert butanol as a chemical intermediate in the synthesis of various chemical commodities. Methyl tertiary butyl ether (MTBE) is used as an octane booster in motor gasoline in Asia. Moreover, increasing demand for different flavors, fragrances, and perfumes in many economies, such as India and many others, would boost the growth of the tert butanol market in the coming years. Singapore is helping fragrances companies to expand their manufacturing of scents and flavors. A few key players operating in the Asia Pacific tert butanol market are Alfa Aesar; Evonik Industries AG; KURARAY CO., LTD.; LOTTE CHEMICAL TITAN HOLDING BERHAD; LyondellBasell Industries Holdings B.V.; Tiande Chemical Holdings Limited; and Tokyo Chemical Industry Co., Ltd. These players focus on providing tert butanol for diverse applications.
COVID-19 has caused a significant economic loss in the Asia Pacific. The consequence and impact can be even worse and totally depends on the spread of the virus. The Asian economies have been hit hard due to the pandemic. The emergence of new COVID-19 waves in India, Thailand and other Asian economies have prolonged the effect of pandemic upon the GDP. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific. However, the uncertainty regarding the future outbreak especially in countries such as India and few other Asian countries, has altered the status of the market. The governments of various Asia Pacific economies are taking possible steps to restrict the spread of the virus by announcing country-wide lockdown, which have a direct impact upon the growth of industrial sectors. This may impact the demand for tert butanol. However, the market is expected to witness an increase in investment by existing players along with penetration of new players to tap the prevailing opportunities as well as cater to soaring demand in post-pandemic times.
Market Overview and Dynamics
The tert butanol market in Asia Pacific is expected to grow from US$ 1,968.33 million by 2028 from US$ 1,554.14 million in 2021. The market is estimated to grow at a CAGR of 3.4% from 2021 to 2028. Organic solvents such as tert-butyl alcohol provide many benefits for freeze-dried formulations. These include increasing the solubility of hydrophobic drugs, reducing drying time, improving product stability, and improving reconstitution characteristics. Tert-butanol has a high freezing point (24 ° C), crystallizes primarily at room temperature, and will sublimate during the freezing process. TBA completely crystallizes during the freezing stage and exhibits long, needle-shaped ice crystals. It also produces a lower cake resistance during the drying stage and has a larger surface area. Tert-butanol is gradually becoming the tender freeze-drying agent in the biomedical industry. The evolving nature of the pharmaceutical industry and increasing research activities have necessitated the preservation of vaccines, blood samples, purified proteins, and many other biological materials. Tert-butanol is a solvent with high vapor pressure, low toxicity, and low melting point, and it is the best freeze-drying agent. Manufacturers are capitalizing on this trend by strengthening ties and partnerships with raw material suppliers and pharmaceutical industry service providers to capitalize on the industry's market potential. They place considerable emphasis on the development of high purity tert butanol that is optimal for pharmaceutical applications. Tert butanol is used as a freeze-drying agent in the manufacture of pharmaceutical compounds. Freeze-drying or lyophilization is used to remove ice or other frozen solvents from the material. They are used to store vaccines, blood samples, purified proteins, and other biological materials. The growing demand for lyophilized agents in the biotech and biomedical industries to preserve vaccines, blood samples, purified proteins, and other biological materials is expected to present a lucrative opportunity for tert butanol manufacturers. Thus, increasing demand for freeze-drying agents in the pharmaceutical industry is expected to propel the tert butanol market growth.
Key Market Segments
In terms of purity, the ≥99 accounted for the largest share of the Asia Pacific 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 MTBEs and ETBEs 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 Asia Pacific 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; Sisco Research Laboratories Pvt. Ltd.; and AVT Paints Pty Ltd among others.
Reasons to buy report
Asia Pacific Tert Butanol Market Segmentation
Asia Pacific Tert Butanol Market – By Purity
Asia Pacific Tert Butanol Market – By End Use
Asia Pacific Tert Butanol Market – By Application
Asia Pacific Tert Butanol Market – By Country
Asia Pacific Tert Butanol Market – Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$US$ 1,554.14 Million |
| Market Size by 2028 | US$ 1,968.33 Million |
| CAGR (2021 - 2028) | 3.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Purity
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Tert Butanol Market is valued at US$US$ 1,554.14 Million in 2021, it is projected to reach US$ 1,968.33 Million by 2028.
As per our report Asia Pacific Tert Butanol Market, the market size is valued at US$US$ 1,554.14 Million in 2021, projecting it to reach US$ 1,968.33 Million by 2028. This translates to a CAGR of approximately 3.4% during the forecast period.
The Asia Pacific 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 Asia Pacific Tert Butanol Market report:
The Asia Pacific Tert Butanol Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Tert Butanol Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Tert Butanol Market value chain can benefit from the information contained in a comprehensive market report.
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