Press release
1,3-Butylene Glycol (1,3-BG) Market forecasted to reach 38,939.5 MT by 2023, according to P&S Market Research
The chemical is a viscosity decreasing component and prevents the dying out of cosmetics. The best characteristic of 1,3-BG is its ability to stabilize volatile compounds such as fragrances and flavors fixing them in cosmetic formulations and to reduce the loss of aroma.
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As per the findings of research, pharmaceutical grade occupied the larger share of the market, its usage in major industries, such as cosmetic, personal care, and food industries. Growing demand for skin care and hair care products and entry of large number of players in the food and beverages industry worldwide, is driving the demand for pharmaceutical grade 1,3-butylene glycol.
On the basis of application, cosmetics & personal care products were the largest application area of 1,3-butylene glycol, owing to increasing consciousness and awareness towards haircare and skincare among consumers. The increasing awareness supported with increased disposable income is leading to more demand of such cosmetic products, which finds application of 1,3-BG.
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Globally, Asia-Pacific dominates the market and is expected to remain the largest market in future as well. This is due to high demand for 1,3-BG in emerging economies of the region. During the forecast period, the market is expected to witness the fastest growth in Asia-Pacific, attributed to factors such as improving healthcare infrastructure, increasing disposable income, and significant growth in the cosmetics industry. Countries such as India and China have growth potential for 1,3-butylene glycol market in the region.
The research states that this industry is consolidated, where OXEA GmbH, Daicel Corporation, and KH Neochem Co., Ltd. are the market leaders. Some of the other key players in the 1,3-butylene glycol market are Godavari Biorefineries Ltd., Hangzhou Dayangchem Co. Ltd., Haihang Industry Co., Ltd., and Genomatica, Inc.
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As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
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