1,3-Butylene Glycol Market Research Report: By Product (Pharmaceutical Grade, Industrial Grade), Function (Humectant, Emollient, Stabilizer, Intermediate), Application (Cosmetic & Personal Care Products, Food Products) - Global Industry Size and Demand Forecast to 2030
New York, April 28, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "1,3-Butylene Glycol Market Research Report: By Product, Function, Application - Global Industry Size and Demand Forecast to 2030" - https://www.reportlinker.com/p06272203/?utm_source=GNW
1,3-butylene glycol market revenue is projected to cross $269.1 million by 2030, according to the market research report published , 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.
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.
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.
Read the full report: https://www.reportlinker.com/p06272203/?utm_source=GNW
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