2,3-Butanediol Market To Record Two Fold Growth During Forecast Timeline of 2030

𝐆𝐥𝐨𝐛𝐚𝐥 2,3-𝐁𝐮𝐭𝐚𝐧𝐞𝐝𝐢𝐨𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

The global 2,3-Butanediol market, valued at approximately USD 198.41 million in 2023, is projected to grow to USD 247.19 million by 2030. This growth is expected to occur at a compound annual growth rate (CAGR) of 3.19% over the forecast period. 2,3-Butanediol, an organic compound with the chemical formula (CH₃CHOH)₂, is recognized for its significant applications in various industries and is produced both petrochemically and through biological synthesis.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐚𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐛𝐲 𝐜𝐥𝐢𝐜𝐤𝐢𝐧𝐠 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝: https://www.maximizemarketresearch.com/request-sample/65350/

𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐢𝐞𝐬

2,3-Butanediol is a vic-diol, a type of diol characterized by having two hydroxyl groups on adjacent carbon atoms. This compound exists in three stereoisomeric forms: a pair of chiral isomers and a meso isomer, all of which are colorless liquids. The versatility of 2,3-butanediol is reflected in its multiple applications and the growing interest in its production through sustainable methods.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂𝐨𝐧𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬

The demand for 2,3-butanediol is being driven by its extensive use in textiles, polymers, plastics, synthetic rubbers, and the rising preference for renewable and bio-based chemicals. Government initiatives promoting the use of sustainable chemicals and innovations in production technologies are also contributing to market growth.

Increased spending on manufacturing infrastructure, coupled with a surge in applications across various sectors, including chemicals, pharmaceuticals, food, and cosmetics, is expected to propel market expansion. The production of hydrocarbon fuels and the use of 2,3-butanediol in synthesizing chemicals for textiles and plastics further add to the demand.

However, the market faces challenges, including the high cost of end products and the availability of cost-effective raw material substitutes, which could impede growth.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧:

In 2023, the chemical intermediate segment emerged as the fastest-growing category, driven by substantial growth in the chemical industry. This trend is anticipated to continue as the industry increasingly adopts biobased chemicals due to regulatory pressures and environmental considerations.

The manufacture of 2,3-butanediol is expanding at an annual rate of approximately 4%, influenced by rising demand for its derivatives such as methyl ethyl (MEK), gamma-butyrolactone (GBL), and 1,3-butadiene. The global market for these derivatives is substantial, with a potential of around 32 million tons per annum.

Recent advancements in production technologies, including fermentation of sugars from renewable sources, have led to improved production efficiency and lower costs. These advancements are expected to enhance the scalability and application of 2,3-butanediol in the future.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬

A notable advancement in the production of 2,3-butanediol involves a novel method combining biological fermentation with chemical cleavage. Utilizing corn starch as a raw material, this method enables the production of high-purity 2,3-butanediol, which is crucial for large-scale applications. This innovation is anticipated to significantly boost demand for 2,3-butanediol in the near future.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

The Asia Pacific region is poised to dominate the 2,3-butanediol market, with a significant CAGR projected throughout the forecast period. Major contributors to this growth include India, China, and Japan. In China, the market size was valued at USD 1.5 million in 2023 and is expected to rise to approximately USD 1.9 million in the coming years.

The application of 2,3-butanediol in producing synthetic rubber from 1,3-butadiene is particularly influential in the tire industry, which uses synthetic rubber extensively. The increasing demand for butadiene in various rubber products, such as styrene-butadiene latex and nitrile rubber, presents substantial opportunities for 2,3-butanediol manufacturers in the Asia Pacific region.

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐚𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐝𝐞𝐭𝐚𝐢𝐥𝐬 𝐛𝐲 𝐜𝐥𝐢𝐜𝐤𝐢𝐧𝐠 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝: https://www.maximizemarketresearch.com/request-sample/65350/

𝐌𝐚𝐫𝐤𝐞𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭

The objective of the comprehensive report on the 2,3-butanediol market is to present a detailed analysis of industry dynamics, including past and current market conditions, and to forecast future trends. The report includes an in-depth study of key market players, competitive analysis, and regional market assessments. It utilizes analytical frameworks such as PORTER's Five Forces, SWOT, and PESTEL to evaluate the impact of both external and internal factors on market performance.

𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧

The global 2,3-butanediol market is on a growth trajectory, driven by its diverse applications and technological advancements. With a focus on sustainable production and increasing demand across various sectors, the market is expected to expand significantly. Stakeholders, including industry leaders and new entrants, can leverage these insights to strategize and capitalize on emerging opportunities in the 2,3-butanediol market.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐜𝐨𝐩𝐞:

𝐁𝐚𝐬𝐞 𝐘𝐞𝐚𝐫: 2023
𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐏𝐞𝐫𝐢𝐨𝐝: 2024-2030
𝐇𝐢𝐬𝐭𝐨𝐫𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚: 2018 𝐭𝐨 2023
𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞 𝐢𝐧 2023: 𝐔𝐒𝐃 198.41 𝐦𝐢𝐥𝐥𝐢𝐨𝐧
𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞 𝐢𝐧 2030: 𝐔𝐒𝐃 247.19 𝐦𝐢𝐥𝐥𝐢𝐨𝐧
𝐂𝐀𝐆𝐑: 3.19%


𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

• 𝐁𝐲 𝐓𝐲𝐩𝐞: Content 90%-95%, Content >95%, Others

• 𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧: Chemical Intermediate, Food Additives, Cosmetics, Plastics, Others

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐁𝐫𝐞𝐚𝐤𝐝𝐨𝐰𝐧:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America

𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐟𝐨𝐫 𝐚 𝐦𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐞𝐱𝐩𝐥𝐚𝐧𝐚𝐭𝐢𝐨𝐧: https://www.maximizemarketresearch.com/market-report/global-23-butanediol-market/65350/

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
• Mitsubishi Chemical Corporation
• Nanya Plastics Corporation
• Global Bio-Chem Technology Group
• Tokyo Chemical Industry Co., Ltd.
• Henan Kaixiang Fine Chemical
• Orochem Technologies Inc.
• Changcheng Energy
• Shanxi Sanwei Group
• MarkorChem
• Xinjiang Tianye

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