1,3-Butylene Glycol Market Research Report Detailed Analysis On The Basis Of Application, Latest Trends, Regional Outlook and Growth Forecast To 2030

1,3-butylene glycol is widely used as a humectant in cosmetic products due to its ability to serve as a viscosity-reducing component. Moreover, the usage of this organic compound helps in stabilizing volatile compounds, such as flavors and fragrances, by fixing their cosmetic formulations, thereby helping in aroma retention. Additionally, the compound also prevents the spoilage caused to cosmetic formulations by microorganisms. Besides, the excellent distribution coefficient of this organic compound results in lowering the content of applied preservatives, thereby improving the efficacy of the cosmetic formulations.

Thus, the surging consumption of cosmetic products owing to the mounting disposable income and booming geriatric population will help the 1,3-butylene glycol market advance at a CAGR of 5.0% during 2020–2030. According to P&S Intelligence, the market was valued at $139,994.9 thousand in 2019, and it is expected to reach $227,057.5 thousand by 2030. As per the World Ageing Population 2020 report, the population of people aged 65 years and above is expected to surge from 727 million in 2020 to 1.5 billion by 2050.

Request for sample Pages of this report: https://www.psmarketresearch.com/market-analysis/1-3-bg-market/report-sample

Apart from the cosmetics industry, the pharmaceutical sector also consumes a huge quantity of 1,3-butylene glycol due to its antibacterial properties. In recent years, the pharmaceutical industry has been observing significant growth in the developing countries of Asia and Latin America (LATAM) due to the increasing incidence of infectious and lifestyle-related diseases. The usage of this organic compound in drugs helps in killing bacteria and fungi, which results in the elongation of the shelf life of medicines.

At present, 1,3-butylene glycol manufacturers are actively engaging in partnerships and agreements to cater to a wider customer base. For instance, in October 2019, Daicel Corporation entered into an exclusive sales agreement with Genomatica Inc. to sell and promote the Brontide natural 1,3-butylene glycol of the latter in the Asia-Pacific (APAC) region. Similarly, in May 2020, Glenn LLC received the exclusive distribution rights for Brontide natural butylene glycol from Genomatica Inc. in the U.S.

Moreover, 1,3-butylene glycol manufacturers, such as OQ Chemicals GmbH, KH Neochem Co. Ltd., Godavari Biorefineries Ltd., Haihang Industry Co. Ltd., Daicel Corporation, and Genomatica Inc., are focusing on the development of a cost-effective fermentation process for the production of the compound, owing to the rising use of the chemical in the synthesis of industrial chemicals. However, these companies are selling more of pharmaceutical-grade 1,3-butylene glycol due to its escalating use in the personal, cosmetics, and food industries.

Browse full report at: https://www.psmarketresearch.com/market-analysis/1-3-bg-market

Geographically, APAC dominated the 1,3-butylene glycol market in the recent past due to the mounting expenditure of the people of Thailand, India, Indonesia, and China on cosmetic products. Additionally, the sale of this compound is set to increase the fastest in this region in the coming years due to the soaring disposable income and escalating investments in the healthcare sector in China and India. Moreover, the surging consumption of cosmetic and personal care products, owing to the booming population, will boost the adoption of 1,3-butylene glycol in the coming years.

Therefore, the rising consumption of cosmetics and burgeoning demand for pharmaceutical products will create a huge requirement for 1,3-butylene glycol in the forthcoming years.

Contact:
P&S Intelligence
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

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.

This release was published on openPR.