NEW YORK, Feb. 9, 2022 /PRNewswire/ -- 1,3-butylene glycol market revenue is projected to cross $269.1 million by 2030, according to the market research report published by P&S Intelligence, the market is growing due to booming sales of cosmetics. With the increasing disposable income and influence of show business, people are putting in more efforts and money than ever to improve their appearance. The chemical is used as a humectant and emollient in cosmetic products, preventing them from drying out and losing their aroma.
This is why chemical companies, such as Daicel Corporation, Genomatica Inc., KH Neochem Co. Ltd., Godavari Biorefineries Ltd., Haihang Industry Co. Ltd., and OQ Chemicals GmbH are expanding their manufacturing capabilities, launching new variants of the product, and engaging in partnerships with each other in order to make the most of the market opportunities. For instance, Genomatica Inc. has given Glenn LLC the exclusive rights to distribute the former's Brontide natural butylene glycol in the U.S.
Get the sample pages of this report at: https://www.psmarketresearch.com/market-analysis/1-3-bg-market/report-sample
Key Findings of 1,3-Butylene Glycol Market Report
- The COVID-19 pandemic affected the demand for the chemical negatively by leading to the shutdown of the cosmetics industry and also reducing people's spending power.
- The pharmaceutical grade of the chemical dominates the 1,3-butylene glycol market because of its high importance in the cosmetics and personal care products, food and beverage, and pharmaceutical industries.
- This is in tune with the fact that the chemical is consumed in the highest volumes in the cosmetics and personal care industry, primarily as a humectant in skincare products.
- In this regard, the rising prevalence of acne, dyspigmentation, hyperpigmentation, psoriasis, deep wrinkles, atopic dermatitis, freckles, and melasma is acting as a strong industry growth driver.
- As a humectant, the chemical not only prevents the cosmetic products from drying, but also keeps the skin itself moist.
- Asia-Pacific (APAC) has been the largest 1,3-butylene glycol market for many years because of its huge population, which is increasingly purchasing cosmetics and skincare products. Moreover, the growing e-commerce sector has increased the access of the masses to such products.
APAC is also expected to account for the fastest rise in the consumption of this chemical in the coming years. Regional developing countries, such as India, China, Thailand, Vietnam, and Indonesia, are witnessing a rapid surge in disposable income. This is allowing people to spend more on things they considered an unnecessary expense earlier.
Browse detailed report on 1,3-Butylene Glycol Market Size, Growth and Demand Forecast to 2030
Seeing the rising demand for cosmetics, 1,3-butylene glycol market players are trying to develop a cost-effective fermentation method for the manufacturing of this chemical. The idea is to make the chemical more accessible for cosmetics and personal care companies, who are taking steps to augment the output of such products in tune with the growing appearance consciousness around the world.
1,3-Butylene Glycol Market Segmentation Analysis
By Product
- Pharmaceutical Grade
- Industrial Grade
By Function
- Humectant
- Emollient
- Stabilizer
- Intermediate
By Application
- Cosmetic & Personal Care Products
- Food Products
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- Saudi Arabia
- U.A.E.
- South Africa
Browse Other Related Reports
Polyethylene Glycol Market - The polyethylene glycol market garnered the highest revenue from the APAC region in 2020 because of the region's vast and growing pharmaceutical industry. India is one of the largest exporters of medical drugs, which keeps the demand for PEG and other raw materials high here. Moreover, PEG is an important raw material in the automotive and construction chemical sectors, which are also witnessing rapid growth in APAC.
Paints and Coatings Market - Geographically, the Asia-Pacific paints and coatings market accounted for the largest share in 2020, and it is also projected to record the highest CAGR during the forecast period.
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Contact:
Prajneesh Kumar
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Follow Us: LinkedIn Twitter
Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg
