Navigating the Butyl Glycol Market: Analyzing Price Trends and Predictions
Author : Endru Smith | Published On : 09 Jan 2024
In the first quarter of 2023, butyl glycol prices increased in Asia due to higher demand from downstream sectors and expensive imports from Europe. However, in the second quarter, production rates declined as prices fell due to lower raw material costs and demand remained stagnant. In Europe, economic recession, weak trade and weak exports contributed to the downward price trend. North America also faced weak market fundamentals and high inventories, leading to lower production and trade activity, resulting in lower prices. Overall, the global butyl glycol market has experienced fluctuations influenced by respective regional demand, trade conditions, and supply trends.
Definition
Butyl glycol, also known as 2-butoxyethanol, is an organic compound with the molecular formula C4H9OCH2CH2OH. It is a colorless and transparent liquid with a faintly sweet scent. Butyl glycol is commonly used as a solvent in a variety of industrial applications such as paints, coatings, cleaning agents, and chemical processing. Strong dissolving power can effectively dissolve and mix various substances, improving the performance of various products. However, it should be handled with care as it can be harmful if ingested or in contact with the skin.
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Key Details About Butyl Glycol Price Trends:
Procurement Resource provides detailed price trend analysis and displays monthly, quarterly, semi-annual, and annual information for Butyl Glycol in a modern pricing dashboard. A detailed assessment takes a deep dive into product facts, price changes in weeks, months, and years, key companies, industrial applications, and factors driving market and price trends.
Each price record is linked to an easy-to-use charting device dating back to 2014 that offers a range of features. Customize pricing currencies and units, and download pricing information as an Excel file for offline use.
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Industrial Applications Influencing Butyl Glycol Price Trends:
Butyl glycol, or 2-butoxyethanol, has a variety of industrial uses due to its solvency and other properties. Commonly used as a solvent in paints, varnishes and lacquers to improve their application and performance. In cleaning products, it acts as an effective degreaser and stain remover. Used as a process solvent in chemical processing to accelerate reactions and dissolve compounds. Butyl glycol acts as a coupling agent in the manufacturing process, helping to mix immiscible substances. It is also used in the electronics industry to clean electronic components and circuit boards. Additionally, it may be included as an ingredient in certain agricultural preparations and pharmaceuticals.
Key players:
- Nippon Nyukazai Co Ltd
- Sasol Co., Ltd.
- Lyondell Barthel Industries Nevada
- Eastman Chemical Corporation
- Asia Pacific Petrochemical Co., Ltd.
- Dow Chemical Company
- BASF SE
- Ineos
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