Butyl Glycol Market Regional Analysis:
APAC Market Statistics
Asia Pacific region is likely to hold over 43.9% market share by 2035, driven by rising population inclination toward home interior design and automotive industry demand. For instance, the Asian construction industry is projected to reach approximately USD 4,000 billion in 2023. Additionally, Asia also dominates the field of the automotive industry, where butyl glycol is highly recommended and used to maintain the engine temperature. Hence, propelling the demand for butyl glycol over the forecast period. For instance, in 2021, more than 34 million units of passenger cars were sold across Asia. Furthermore, the overflowing population has also spurred the requirement for the construction of pipelines to facilitate daily utility, and gas is one of them. It is a well-known fact that butyl glycol is heavily used in gas pipelines to prevent hydrate formation, so the pipelines will never be blocked in their lifetime. Based on the data released by the International Energy Agency (IEA), it was stated that the demand for gas in Asia can drop to 275 BCM by 2025.
