The global 1,3-butylene glycol market is set to attain a revenue of $227,057.5 thousand in 2030, rising from $139,994.9 thousand in 2019, progressing at a CAGR of 5.0% during 2020-2030
A major reason for the growth of the market is the swift expansion of the pharmaceutical industry. While the industry is advancing in North America and Europe, it is still quite small in Asia-Pacific (APAC) and Latin America.
However, due to the large population of countries such as India and China, these regions are predicted to emerge as major healthcare markets in the years to come. Ascribed to this, companies in the pharmaceutical industry are also investing heavily in these regions, which is predicted to result in the growth of the 1,3-butylene glycol market in the years to come.
1,3-butylene glycol is utilized extensively in the manufacturing process of drugs because of its ability to kill fungi and bacteria and to enhance the shelf life of medicines. On the basis of product, the pharmaceutical-grade division is predicted to account for the major share of the market in the coming years. pharmaceutical-grade 1,3-butylene glycol is consumed widely in cosmetics, food & beverages, and personal care industries. As the adoption of skincare products is growing due to the rising prevalence of acne, eczema, and psoriasis, the demand for this product is predicted to grow as well.
It is because of ultraviolet exposure, stress, alcohol and tobacco consumption, pollution, anxiety, and unfit environmental conditions that the prevalence of such demagogical diseases is rising, thereby leading to the growth of the market. When function is taken into consideration, the humectant classification is projected to grow at the fastest pace (5.1% CAGR) in the 1,3-butylene glycol market. 1,3-butylene glycol is increasingly being utilized as a humectant in cosmetics and personal care products, majorly those that are applied on hair and skin.
The cosmetics and personal care products category has been contributing the largest revenue share to the 1,3-butylene glycol market up till now, owing to the increasing demand for hair care and skincare products. One of the most common skin diseases is photoaging, which leads to hair loss, sunburns, and decreased skin elasticity. In addition to this, the prevalence of several other skin diseases is growing at a rapid pace, which, in turn, are driving the growth of the market.
Geographically, the 1,3-butylene glycol market was dominated by the APAC region in the past and the situation is projected to remain the same in the years to come as well. The requirement for the chemical is increasing from several developing countries in the region, namely India, Thailand, Indonesia, and China. This can be ascribed to the growing disposable income of people in these countries, which is leading to increased spending on personal care and cosmetics products.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction 4.1 Definition of Market Segments 4.1.1 By Product 22.214.171.124 Pharmaceutical grade 126.96.36.199 Industrial grade 4.1.2 By Function 188.8.131.52 Humectant 184.108.40.206 Emollient 220.127.116.11 Stabilizer 18.104.22.168 Intermediate 22.214.171.124 Others 4.1.3 By Application 126.96.36.199 Cosmetic and personal care products 188.8.131.52 Food products 184.108.40.206 Others 4.2 Manufacturing Processes of 1,3-Butylene Glycol 4.2.1 Aldol Condensation + Catalytic Hydrogenation 4.2.2 Hydration Reaction 4.2.3 Prins Reaction 4.2.4 Fermentation Process 4.3 Global Production Of 1,3-Butylene Glycol 4.4 Production Capacity of 1,3-Butylene Glycol of Major Manufacturers 4.4.1 1,3-Butylene Glycol Production Capacity (MT/Year) of Major Manufacturers (2019) 4.5 Price Trend Analysis of 1,3-Butylene Glycol 4.6 Value Chain Analysis 4.7 Market Dynamics 4.7.1 Trends 220.127.116.11 Quest to develop cost effective fermentation process to produce 1,3-butylene glycol 4.7.2 Drivers 18.104.22.168 Growing cosmetic products market 22.214.171.124 Growing demand for 1,3-butylene glycol in pharmaceutical industry 126.96.36.199 Impact analysis of drivers on market forecast 4.7.3 Restraints 188.8.131.52 Uncertain global economic conditions 184.108.40.206 Impact analysis of restraints on market forecast 4.7.4 Opportunity 220.127.116.11 Increasing consciousness and awareness toward haircare and skincare 4.8 Impact of COVID-19 4.9 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast 5.1 By Product 5.2 By Function 5.3 By Application 5.4 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. Asia-Pacific Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Major Markets: Segment Analysis 11.1 U.S., By Product 11.2 U.S., By Function 11.3 U.S., By Application 11.4 China, By Product 11.5 China, By Function 11.6 China, By Application 11.7 Japan, By Product 11.8 Japan, By Function 11.9 Japan, By Application 11.10 South Korea, By Product 11.11 South Korea, By Function 11.12 South Korea, By Application
Chapter 12. Global Strategic Developments of Key Players 12.1 Product Launches 12.2 Partnerships 12.3 Facility Expansions 12.4 Other Developments