Butyl Glycol Market Share

APAC Market Statistics

The Asia Pacific butyl glycol market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the rising inclination of the population toward home interior design, backed by the up-surged construction of building in the region to provide homes for overflowing populations moving to urban areas and also expanding in rural areas. 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.