Market Introduction
The tert butanol market in Middle East & Africa is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East and Africa. Strong economic growth in countries across the region is creating a platform for the growth and expansion of the market in the region. In comparison to other regions, coating consumption in the Middle East & Africa is low. However, as economies from the region continue to evolve, sales of coatings have increased substantially. Saudi Arabia is one of the major markets for paint and coatings in the region. Paint & coatings demand in the UAE has been steadily increasing due to the growing construction sector and rising demand from industrial segments. The automotive industry in South Africa is the most important manufacturing industry in the region. Moreover, growing demand for fragrance products drives the growth of the tert butanol market. A few players operating in the Middle East & Africa tert butanol market are Evonik Industries AG; LyondellBasell Industries Holdings B.V.; and Tokyo Chemical Industry Co., Ltd. With the growth of various end-use industries such as paint and coatings and many others in the region, the demand for tert butanol is expected to grow during the forecast period.
In the MEA region, the worse-affected countries Turkey, South Africa, Iraq, Israel, and others are among the major countries with high number of COVID-19 confirmed cases and deaths. According to International Finance Corporation, the COVID-19 pandemic has a severe impact upon the economy of the Middle East & Africa which has led to decline in oil production, tourism, and remittances. The MEA region comprises many growing economies, which are prospective markets for tert butanol vendors. The pandemic has significantly slowed down the growth of tert butanol market in the region.
Market Overview and Dynamics
The tert butanol market in Middle East & Africa is expected to grow from US$ 452.57 million by 2028 from US$ 360.19 million in 2021. The market is estimated to grow at a CAGR of 3.3% 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 Middle East & Africa 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 Middle East & Africa 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
Middle East & Africa Tert Butanol Market Segmentation
Middle East & Africa Tert Butanol Market – By Purity
Middle East & Africa Tert Butanol Market – By End Use
Middle East & Africa Tert Butanol Market – By Application
Middle East & Africa Tert Butanol Market – By Country
Middle East & Africa Tert Butanol Market – Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$US$ 360.19 Million |
| Market Size by 2028 | US$ 452.57 Million |
| CAGR (2021 - 2028) | 3.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Purity
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East and Africa Tert Butanol Market is valued at US$US$ 360.19 Million in 2021, it is projected to reach US$ 452.57 Million by 2028.
As per our report Middle East and Africa Tert Butanol Market, the market size is valued at US$US$ 360.19 Million in 2021, projecting it to reach US$ 452.57 Million by 2028. This translates to a CAGR of approximately 3.3% during the forecast period.
The Middle East and Africa 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 Middle East and Africa Tert Butanol Market report:
The Middle East and Africa Tert Butanol Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Tert Butanol Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Tert Butanol Market value chain can benefit from the information contained in a comprehensive market report.
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