What are the major catalysts for the 1,3-Butylene Glycol Market and their impact during the short, medium, and long terms?

The 1,3-butylene glycol (1,3-BG) market growth is riding on the shoulders of increasing product demand from the cosmetics and pharmaceuticals industries. Valued at $127.8 million in 2017 by P&S Intelligence, the domain size is expected to be $178.5 million by 2024. Often just shortened to 1,3-BG, 1,3-butyine glycol is an alcoholic compound used as a solvent in industrial settings. When segmented by product, the market can be simply categorized as pharmaceutical grade and industrial grade.

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Pharma and cosmetics companies consume the compound in heavy quantities, which is substantiated by the finding that pharmaceutical grade 1,3-BG held the larger 1,3-butylene glycol market share in terms of the total volume sold and revenue generated. The solvent is used to increase the shelf life of medicines, owing to its viscosity-decreasing properties. Due to diseases running rampant through the world and increasing compliance to high-quality drugs, the production of the compound is expected to grow in the future.

The compound is deemed essential in the manufacture of cosmetics, as it helps stabilize volatile fragrant compounds and prevents aroma loss from the final product. It also helps lower the quantities of preservatives in the cosmetics with its high distribution coefficient, thus, keeping the manufacturing costs low. Further, it is a better antimicrobial agent, compared to glycerol propylene glycol and sorbitol, a property which has been furthering the 1,3-butylene glycol market advance.

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The rising demand for hair and skin care products is increasing the revenue contribution of cosmetics companies to the domain, as the solvent is an integral component of such products. Skin diseases, such as acne, seborrheic dermatitis, eczema, and psoriasis, have started affecting people across the globe. Anxiety, stress, alcohol consumption, pollution and exposure to ultraviolet light are the leading causes of skin diseases. Owing to rapid urbanization, these causes are predicted to result in higher occurrence of such issues in future, which will continue driving the 1,3-butylene glycol market growth.

Improving living standards because of rising disposable income presents a lucrative opportunity to 1,3-BG manufacturers. People are now spending more freely on cosmetics, both for medical and aesthetical reasons. The compound is used in everything from shave gels to makeup. So, as the living standard, especially in developing countries, improves further, cosmetic sales and production will rise, giving the 1,3-butylene glycol market further impetus to progress. Asia-Pacific (APAC) is already the market leader, and the above-mentioned factors are expected to help keep its dominance unchallenged during the forecast period 2018–2024.

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Considering the growth potential, 1,3-butylene glycol market players have begun constructing or expanding manufacturing plants and research and development facilities to meet the demand. For example, in 2017, KH Neochem announced plans to increase the production capacity of its plant in Yokkaichi to meet the growing 1,3-BG demand. Similarly, in 2015, Daicel Corporation disclosed plans to increase the production of the compound at its Ohtake (Hiroshima Prefecture) facility by 20%.

Therefore, it is apparent that the prosperity of pharmaceutical and cosmetics companies in APAC will further the sector globally.

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This release was published on openPR.