Dallas, Texas, Sept. 30, 2022 (GLOBE NEWSWIRE) -- It is anticipated that the global 1,3-butanediol market may emerge stronger in response to current advances in microbial production, the increasing need for non-toxic, non-irritating compounds in products for use in cosmetic applications. These factors are likely to influence thumping growth of global 1,3-butanediol market recording $270.1 million by 2030 with an annualized rate of 5.8% through the projected period 2022-2030.
Owing to benefits such as excellent hygroscopicity, low volatility, and low toxicity the demand for 1,3-butanediol has grown tremendously. Moreover, 1,3-butanediol has excellent properties and is commonly used as humectant and useful as a cosmetic grade.
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Top Manufacturers in Global 1,3-butanediol Market Study:
- Daicel Corporation
- KH Neochem
- Genomatica
- Godavari Biorefineries
- and OQ Chemicals
- Haihang & among others
Furthermore, the internet penetration, smart strategies implemented by ecommerce enterprises has increased the demand for cosmetic products followed by increasing demand for1,3-butanediol in cosmetic industry. Online enterprises provide customized services and hence there is a drastic shift of consumers from buying offline products to buying online products. Thus, the online sales channel across the world presents a great growth opportunity to the global 1,3-butanediol market over the forecast period.
Despite, the sale of 1,3-butanediol has increased twofold in the recent years, the 1,3-butanediol causes changes in its appearance during storage and generated slight odor. Hence, it becomes difficult for the companies to store it for a long time further increasing costs and energy consumption. Also, the pandemic has heavily impacted the supply and demand of the 1,3-butanediol along with increase in costs of raw material hampering the global 1,3-butanediol market.
Furthermore, present inventors have made numerous innovations that have addressed existing challenges. Current Advances in Microbial Production, the increasing need for non-toxic, non-irritating compounds in products for use in cosmetic applications is driving the global 1,3-butanediol market.
The global 1,3-butanediol market is classified into pharma, rubber, cleaning, cosmetics, animal nutrition, plastics and polymers, and coatings on the basis of industry. Among these, the cosmetics industry shared the largest revenue share and demand for 1,3-butanediol worldwide. The segment is anticipated to witness highest growth in the forecast years with increasing younger generation and growing awareness of using cosmetic products for good skin health.
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1,3-butanediol MarketType Analysis:
- Humectant
- Emollient
- Stabilizer
- Intermediate
1,3-butanediol Market Applications Analysis:
- Cosmetics & Personal Care
- Plastics & Polymers
- Paint & Coating
- Food
The global 1,3-butanediol market is classified into raw material for various synthetic resins, surfactants, cosmetics, hygroscopic agents, high-boiling solvents, anti-freezes on the basis of end-user.
Increasing consumption of pharmaceutical grade products such as moisturizers, growing awareness of using cosmetic products for personal care, increasing skin related diseases such as acne, seborrheic dermatitis, rising prevalence of stress, anxiety, alcohol consumption, and rising exposure to UV light is increasing the demand for enhanced skin protecting products. This has risen the demand of 1,3-butanediol in cosmetics industry.
Region-wise North America accounted for highest market share and is poised for rapid market progress. The rationale behind its dominance are rising healthcare awareness, growing consumption of personal care products, and rising applications of 1,3-butanediol in industries such as pharma, rubber, cleaning, cosmetics, animal nutrition, plastics, and other industries in the region. The dominance of North America is seen more due to many reasons. Some key reasons are, investors are sharply in research, new products, applications, and innovation. Also, the market players are adopting more optimal framework for global competition, other countries are aligning with dominant countries like US and its markets, and government is playing a vital role attracting policy responses.
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