Report Code: 11196 | Available Format: PDF | Pages: 363
1,3-butylene glycol market generated an estimated $161.3 million revenue in 2021, and the market size will advance at a CAGR of over 5.9% during 2021–2030, primarily due to the increasing demand for this chemical from the cosmetics industry.
Apart from this, the demand for the material is booming in the food, pharmaceutical, paints & coatings, inks, and plasticizer industries. Essentially, the growth in the demand for pharmaceutical-grade of this chemical from these industries is driving the market growth.
As a result of the slowdown in manufacturing activities in 2020 due to the COVID-19 pandemic, the demand for 1,3-butylene glycol dropped. Furthermore, countries with a higher dependence on the import of 1,3-butylene glycol were impacted, as the global demand is met by APAC countries, such as China and Japan, which were likely to increase the price of the chemical in order to mitigate losses. Moreover, the rise in logistics costs also resulted in an increase in the price of 1,3-butylene glycol. However, the market is expected to recover with the expected increase in the demand for cosmetics & personal care products, as people’s disposable income is gradually growing.
Report Attribute | Details |
---|---|
Historical Years |
2017-2021 |
Forecast Years |
2022-2030 |
Base Year (2021) Market Size |
$161.3 Million (Estimated) |
Market Size Forecast in 2030 |
$269.1 Million |
Forecast Period CAGR |
5.9% |
Report Coverage |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Market Size by Segments |
By Product; By Function; By Application; By Region |
Market Size of Geographies |
U.S.; Canada; Germany; France; U.K.; Italy; Spain; Japan; China; India; South Korea; Brazil; Mexico; Saudi Arabia; South Africa; U.A.E. |
The pharmaceutical grade of the chemical is used more, based on product. This is because pharmaceutical-grade 1,3-butylene glycol is a popular chemical solvent in cosmetics, pharmaceutical, and food production. The chemical finds application in pharmaceuticals due to its antibacterial properties. When compared to similar organic compounds, such as glycerol, propylene glycol, and sorbitol, 1,3-butylene glycol is a more-effective antimicrobial agent, helping in the inhibition and removal of yeast, mold, and gram-positive and gram-negative bacteria Therefore, the high demand for the base chemical from the cosmetics & personal care, food, and pharmaceutical industries leads to the higher consumption of its pharmaceutical grade.
Hot Revenue Pocket
The usage of the chemical is expected to rise the fastest as an emollient, based on function. Emollients are frequently used to treat dry, itchy, and scaly skin caused by conditions such as eczema, psoriasis, and ichthyosis. They also coat the skin with a thin oily film that seals in the moisture. Moreover, aid in the prevention of inflammatory patches and flare-ups of these conditions.
The chemical finds the widest application in the cosmetics & personal care products industry. Here, it is used as a humectant, masking agent, skin conditioning agent, viscosity controller, and solvent. It forms a barrier to prevent the drying out of or loss of moisture from these products. The chemical also helps in preventing the crystallization of the insoluble components, which makes it a preferred compound for cosmetic and personal care applications.
Globally, the APAC region dominates the 1,3-butylene glycol market, and it is expected to remain the largest consumer of the material in the future as well. The tremendous demand for this chemical in the emerging economies of the region is expected to propel the global market. The growing demand for cosmetic & personal care products, such as body moisturizing lotions, sunscreen lotions and creams, face washes, hair styling gels, and makeup for men and women, fuels the APAC market's expansion, which is encouraging players to take steps to leverage this demand.
For Instance, in October 2019, Daicel Corporation expanded its distribution agreement with Genomatica Inc. by entering into an exclusive sales agreement to promote and sell the latter’s Brontide natural 1,3-butylene glycol in the APAC region. The success of the initial partnership, combined with Genomatica’s large-scale commercial production of Brontide since January 2019, encouraged both companies to expand their relationship to an exclusive sales agreement.
1,3-butylene glycol market players are announcing partnerships in order to expand their product portfolio and advance their technology. For Instance,
The 1,3-butylene glycol market report offers comprehensive market segmentation analysis along with market estimation for the period 2017–2030.
Based on Product
Based on Function
Based on Application
Geographical Analysis
During 2021–2030, the market for 1,3-butylene glycol will witness a 5.9% value CAGR.
The 1,3-butylene glycol industry witnesses the higher sale of the pharmaceutical grade of the chemical.
APAC is the largest and fastest-growing market for 1,3-butylene glycol.
The key drivers for the 1,3-butylene glycol industry are the booming cosmetics sector and the rising demand for the chemical in the pharmaceutical industry.
The market for 1,3-butylene glycol is characterized by a high number of partnerships.
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