Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol)) Market

The global market for butanols (excluding butan-1-ol) is projected to grow in both volume and value terms from 2022 to 2030, with an anticipated CAGR of +1.6% and +3.7% respectively. China, the United States, and the Netherlands are the top consumers and producers in the market. Import and export trends also show notable fluctuations, with countries like Malaysia, the United States, and Russia leading in exports. Overall, the market for butanols is expected to see steady growth in the coming years.

Market Forecast

Driven by increasing demand for butanols (excluding butan-1-ol (n-butyl alcohol)) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 1.2M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market value to $1.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol))

In 2022, the amount of butanols (excluding butan-1-ol (n-butyl alcohol)) consumed worldwide was estimated at 1.1M tons, leveling off at 2021. The total consumption volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, global consumption attained the peak volume at 1.2M tons in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

The size of the market for butanols (excluding butan-1-ol (n-butyl alcohol)) worldwide totaled $1.4B in 2022, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $1.6B. From 2015 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (207K tons), the United States (127K tons) and the Netherlands (91K tons), with a combined 39% share of global consumption. India, South Korea, Malaysia, Japan, Brazil, Indonesia, Russia, Thailand, Turkey and Canada lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +27.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($276M) led the market, alone. The second position in the ranking was taken by India ($120M). It was followed by the United States.

In China, the butanols (excluding butan-1-ol (n-butyl alcohol)) market shrank by an average annual rate of -2.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+2.7% per year) and the United States (+5.3% per year).

In 2022, the highest levels of butanols (excluding butan-1-ol (n-butyl alcohol)) per capita consumption was registered in the Netherlands (5,203 kg per 1000 persons), followed by Malaysia (1,473 kg per 1000 persons), South Korea (1,261 kg per 1000 persons) and Canada (433 kg per 1000 persons), while the world average per capita consumption of butanols (excluding butan-1-ol (n-butyl alcohol)) was estimated at 139 kg per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the butanols (excluding butan-1-ol (n-butyl alcohol)) per capita consumption in the Netherlands was relatively modest. In the other countries, the average annual rates were as follows: Malaysia (+26.1% per year) and South Korea (+17.5% per year).

Production

World Production of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol))

In 2022, approx. 1.1M tons of butanols (excluding butan-1-ol (n-butyl alcohol)) were produced worldwide; surging by 7.8% compared with the previous year's figure. The total output volume increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 16%. Over the period under review, global production reached the peak volume at 1.2M tons in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

In value terms, butanols (excluding butan-1-ol (n-butyl alcohol)) production rose slightly to $1.4B in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible descent. The pace of growth was the most pronounced in 2014 with an increase of 18%. Global production peaked at $1.7B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the Netherlands (169K tons), Malaysia (136K tons) and China (130K tons), together comprising 39% of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by China (with a CAGR of +22.2%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol))

In 2022, global butanols (excluding butan-1-ol (n-butyl alcohol)) imports reduced to 480K tons, falling by -5.6% against the year before. Overall, imports showed a slight decline. The most prominent rate of growth was recorded in 2021 when imports increased by 25% against the previous year. Global imports peaked at 591K tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, butanols (excluding butan-1-ol (n-butyl alcohol)) imports amounted to $583M in 2022. In general, imports saw a pronounced descent. The growth pace was the most rapid in 2021 with an increase of 74%. Over the period under review, global imports reached the maximum at $757M in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports By Country

The United States (93K tons), China (90K tons), South Korea (82K tons) and India (61K tons) represented roughly 68% of total imports in 2022. It was distantly followed by Belgium (25K tons), mixing up a 5.1% share of total imports. Italy (15K tons), Turkey (10K tons), Japan (9.3K tons), Thailand (9K tons) and Germany (7.6K tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +21.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest butanols (excluding butan-1-ol (n-butyl alcohol)) importing markets worldwide were the United States ($112M), India ($91M) and China ($82M), with a combined 49% share of global imports. South Korea, Belgium, Italy, Turkey, Germany, Thailand and Japan lagged somewhat behind, together comprising a further 29%.

Among the main importing countries, South Korea, with a CAGR of +17.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average import price for butanols (excluding butan-1-ol (n-butyl alcohol)) amounted to $1,213 per ton, rising by 6% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 40%. Over the period under review, average import prices attained the peak figure at $1,317 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Italy ($1,987 per ton), while South Korea ($800 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+1.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol))

Global butanols (excluding butan-1-ol (n-butyl alcohol)) exports expanded notably to 506K tons in 2022, growing by 7.9% against 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 21%. The global exports peaked at 532K tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, butanols (excluding butan-1-ol (n-butyl alcohol)) exports surged to $576M in 2022. Overall, exports, however, showed a mild downturn. The pace of growth was the most pronounced in 2021 when exports increased by 62% against the previous year. The global exports peaked at $640M in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

In 2022, Malaysia (89K tons), the Netherlands (82K tons), the United States (69K tons) and Russia (64K tons) represented the major exporter of butanols (excluding butan-1-ol (n-butyl alcohol)) in the world, creating 60% of total export. It was distantly followed by Germany (34K tons) and Japan (29K tons), together mixing up a 12% share of total exports. The following exporters - the UK (21K tons), South Korea (17K tons), France (16K tons), China (13K tons), Indonesia (9.9K tons), Saudi Arabia (9.6K tons) and Belgium (9.4K tons) - together made up 19% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Saudi Arabia (with a CAGR of +14.8%), while the other global leaders experienced more modest paces of growth.

In value terms, Malaysia ($85M), the Netherlands ($84M) and Russia ($78M) were the countries with the highest levels of exports in 2022, together comprising 43% of global exports. Germany, the UK, the United States, France, Japan, Belgium, China, South Korea, Indonesia and Saudi Arabia lagged somewhat behind, together accounting for a further 44%.

In terms of the main exporting countries, China, with a CAGR of +7.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for butanols (excluding butan-1-ol (n-butyl alcohol)) stood at $1,139 per ton in 2022, increasing by 6.6% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 34%. Over the period under review, the average export prices hit record highs at $1,248 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($2,235 per ton), while the United States ($587 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform