The projected expansion of the global 1,3 butanediol market during the forecast period 2019-2029 is estimated to be at a Compound Annual Growth Rate (CAGR) of approximately 5%.
1,3 Butanediol, often abbreviated as 1,3-BDO, is a versatile organic chemical compound used in various industries. It belongs to the family of diols and is widely recognized for its applications in the production of plastics, textiles, pharmaceuticals, and cosmetics. The global 1,3 Butanediol market has experienced steady growth over the years due to its increasing relevance in multiple sectors.
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The market is primarily driven by the demand for polybutylene terephthalate (PBT), a high-performance engineering plastic, which accounts for a significant portion of 1,3-BDO usage. Other applications include the manufacturing of polyurethanes, solvents, and personal care products. The growing awareness of eco-friendly and sustainable materials is also promoting the use of 1,3-BDO, as it can be derived from renewable sources like biomass.
Market Opportunity
The 1,3 Butanediol market presents several promising opportunities. Firstly, the ever-expanding automotive industry, with an increasing demand for lightweight and durable materials, is a significant growth factor. PBT, derived from 1,3-BDO, is used in various automotive components, offering enhanced performance and fuel efficiency.
Additionally, the pharmaceutical and personal care sectors are witnessing robust growth, creating a substantial demand for 1,3-BDO. It is a crucial ingredient in the production of medicines, vitamins, and skincare products, further driving market growth. As consumers become more health-conscious and look for organic and natural products, 1,3-BDO, obtained from renewable sources, holds immense potential.
Furthermore, the development of innovative applications for 1,3-BDO, such as its use as a clean and sustainable fuel additive, offers a promising avenue for market expansion.
Market Challenges
Despite its growth potential, the 1,3 Butanediol market faces certain challenges. One significant hurdle is the cost of production. While renewable feedstocks are available, refining processes can be expensive, affecting the overall cost of 1,3-BDO. Additionally, ensuring the scalability of production methods while maintaining quality standards is a complex task.
Another challenge is competition from alternative materials. The market for bio-based plastics and alternative chemicals is growing, and 1,3-BDO must compete with these substitutes. Ensuring that it remains a preferred choice for various applications requires continuous innovation and cost-effectiveness.
Moreover, regulatory and environmental concerns related to the use of 1,3-BDO in certain applications, such as cosmetics, pose challenges. Ensuring compliance with evolving regulations and addressing environmental impact concerns is essential.
Competitive Landscape
Daicel corporation, a chemical company based in Japan, has announced plans to expand its production facility for cosmetics grade 1,3-butylene glycol at its Aboshi plant in June 2019. Similarly, in March 2017, Oxea Gmbh, a leading producer of oxo intermediates and derivatives, began a capacity increase project for 1,3 butylene glycol in Bishop, U.S. Additionally, in July 2019, Godavari Biorefineries Ltd., an Indian bio refinery company, received the USDA certified biobased product label for NaturoBG, a biobased 1,3 butylene glycol.
1,3 Butanediol Market Segmentation
- Function
- Humectant
- Emollient
- Stabilizer
- Intermediate
- Other
- End-Use Industry
- Cosmetics & Personal Care
- Skin Care
- Hair Care
- Personal cleanliness
- Bath & Shower
- Others
- Plastics & Polymers
- Paint & Coating
- Food
- Others
- Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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