The global bio-based butanol market to grow at a CAGR of 9.27% during the period 2017-2021.
Global Bio-based Butanol Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The latest trend gaining momentum in the market is Increasing number of strategic alliances. Recently, GrandBio and Rhodia have collaborated to manufacture bio-based butanol from sugarcane straw, bagasse, which is available in Brazil. They plan to make the first biomass-based plant in Brazil, which will produce solvents.
According to the report, one of the major drivers for this market is High usage of bio-based butanol for manufacturing consumer products. Bio-based butanol is used either as a feedstock or a solvent in synthesizing resins and specialty chemicals, which are used in the manufacture of various consumer products. The chemical formation of butanol makes it very different from that of ethanol due to the presence of two extra carbons. It is valued more as a chemical than as a fuel.
Further, the report states that one of the major factors hindering the growth of this market is Increasing price of feedstock. Raw material is a major component that is required for the production of biofuel. With an increasing demand for feedstocks, there is a regulation that is being implemented in countries like the US, where the production of biofuel has been started by using switchgrass. Annual crops that are perennial in nature are funded since they are long-term investments.