New York, NY -- (SBWIRE) -- 09/09/2016 -- Ethylene glycol monobutyl ether, also referred to as 2-Butoxyethanol, is an organic compound which is obtained by ethoxylation of ethylene oxide and butanol. It is also synthesized by etherification reaction of 2-chloroethanol and butanol. Ethylene glycol monobutyl ether, an organic colourless chemical with ether like odour, is relatively less volatile and an inexpensive organic solvent. It is characterized by a high boiling point and miscibility in water, alcohols and ketones. The most common uses of Ethylene glycol monobutyl ether are those in paints and surface coatings. Moreover, it also finds application in detergents and cleaning products and in inks. Besides the aforementioned applications, ethylene glycol monobutyl ether also finds application in photographic strip solutions, solvent for greases, dyestuffs, in asphalt release agents, oil spill dispersants, and asphalt release agents among others. Ethylene glycol monobutyl ether is also used as feedstock in production of chemicals such as butyl glycol acetate or BGA.

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Global Ethylene glycol monobutyl ether market is expected to witness a steady growth in revenue during the forecast period. The primary factors that are likely to drive the growth of Ethylene glycol monobutyl ether market are the increase in demand from Ethylene glycol monobutyl ether end use industries. The growth in demand for surface coatings, cleaners, inks among others is expected to in turn result in growth of global ethylene monobutyl ether market during the forecast period. Increasing demand from developing regions of the globe especially from the countries in Asia Pacific is another factor that is expected to drive the growth of global Ethylene glycol monobutyl ether market over the forecast period. Moreover, cost effectiveness of Ethylene glycol monobutyl ether is another factor that is likely to result in growing use of ethylene glycol monobutyl ether. Ethylene glycol monobutyl ether forms an important component of both, industrial and household cleaners. As such, it expected to witness a steady growth in its demand during the forecast period. Substitution of ethylene glycol monobutyl ether in certain application areas is likely to impede the growth of global market for the chemical.

On the basis of end use application areas, global Ethylene glycol monobutyl ether market can be segmented into following key market segments:

Surface Coatings
Detergents & Cleaners
Inks
Chemical Intermediate
Others

On the basis of geographic regions, global Ethylene glycol monobutyl ether market is segmented into seven key market segments namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East & Africa.

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Some of the identified major players operating in the global Ethylene glycol monobutyl ether market are as follows:

BASF SE
Dow Chemical Company
Eastman Chemical Company
LyondellBasell Industries N.V.
Jinan Shijitongda Chemical Co., Ltd.