Bio-butanol Market New Developments and Strategies 2030 The global bio-butanol market is on an upward trajectory, with experts projecting that its revenue will reach a remarkable milestone, surpassing US$2 billion by the end of 2030. A comprehensive market analysis indicates a robust compound annual growth rate (CAGR) of 6.5% during the forecast period from 2023 to 2030.
Bio-butanol, a versatile and sustainable alternative to traditional petroleum-based fuels, has been gaining prominence in various industries. Here are key insights from the market analysis: •
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Diverse Applications: Bio-butanol is widely used across different sectors due to its energy density and molecular similarity to petrol. It finds extensive use in the agricultural industry as food-grade solvents for the production and extraction of food products, particularly in processed foods like cheese and meat products. Textile Industry Growth: The textile industry benefits from bio-butanol-based resins, which provide wrinkle resistance to materials. With increasing consumption of textile products like clothing and apparel, this industry presents significant growth opportunities. Raw Material Dominance: In 2022, the raw material market for bio-butanol production was primarily driven by cereal crops, including wheat, corn feedstock, and sugar. This trend supports both the bio-butanol production business and cereal crop production. Acrylates Application: The acrylates application segment is expected to maintain a dominant role during the forecast period, with widespread use in industries such as paints and coatings, textiles, and lubricants. Transportation Sector: The transportation segment is poised for growth due to the increasing demand for eco-friendly and sustainable transportation fuels. Bio-butanol is seen as a promising option in this context.