Global 2,3-Butanediol Market Projected to Reach USD 247.19 Million by 2030, Growing at a 3.19% CAGR - 2,3-Butanediol Forecast

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According to a new report by Maximize Market Research, the global 2,3-Butanediol market was valued at USD 198.41 million in 2023 and is projected to reach USD 247.19 million by 2030, registering a CAGR of 3.19% over the forecast period.

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4. Key Highlights

Market size & CAGR: USD 198.41 million in 2023; projected USD 247.19 million by 2030; CAGR of 3.19%.

Leading application/segment: Converted into methyl ethyl and widely used in synthetic rubber production-key applications include polymers, plastics, synthetic rubber, textiles, cosmetics, and intermediates.

Largest regional market: Asia-Pacific dominates, with strong growth expected in India, China, and Japan.

Key drivers: Rising demand for renewable and bio-based chemicals; ability to convert into synthetic rubber precursors like 1,3-butadiene; industrial fermentation innovations lowering production costs.

Key companies: Major players include Mitsubishi Chemical Corporation; Nanya Plastics; Global Bio-Chem Technology Group; Tokyo Chemical Industry (TCI); Henan Kaixiang Fine Chemical; Orochem Technologies; Changcheng Energy; Shanxi Sanwei Group; MarkorChem; Xinjiang Tianye; Shanxi BidiOu; Sichuan Tianhua; Biosyncaucho S.L.; Dairen Chemical; Intrexon; LanzaTech; Merck KGaA; BASF.

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Market Outlook

The 2,3-Butanediol market is forecast to grow from USD 198.41 million in 2023 to USD 247.19 million by 2030, at a CAGR of 3.19%. Growth is underpinned by mounting demand for renewable chemicals and technological advances in industrial fermentation processes that reduce costs and enhance scalability.

Regional Insights

Asia-Pacific leads the market, with countries such as India, China, and Japan driving expansion through extensive usage in manufacturing, textiles, and synthetic rubber sectors . The region's growing industrial base and focus on bio-based chemicals further position it as the fastest-growing market.

Key Applications and Trends

2,3-Butanediol is appreciated both as an intermediate chemical and for its versatility-especially its conversion into methyl ethyl and further into 1,3-butadiene, which is integral to synthetic rubber and plastic production. Increased government initiatives favoring sustainable materials support its adoption. Advances in bio-fermentation (e.g. using corn starch) offer increasingly cost-effective, high-purity production routes.

Intrigued to explore the contents? Secure your hands-on sample copy of the report:https://www.maximizemarketresearch.com/request-sample/65350/

Competitive Landscape

The market is characterized by a mix of multinational chemical companies (e.g., Mitsubishi Chemical Corporation, Merck KGaA, BASF) and specialized firms such as Tokyo Chemical Industry and Orochem Technologies. Competition hinges on innovation in bio-based production methods, regional presence, and portfolio diversification.

For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/global-23-butanediol-market/65350/

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