1,3-butanediol Market: Introduction:
1,3-butanediol is also known as 1,3-BG, 1,3-Butylene Glycol, and 1,3-Dihydroxybutane. Its linear formula is CH3CH(OH)CH2CH2OH and chemical abstracts service (CAS) number is 107-88-0. It is a viscous, colorless, odorless, and water soluble organic chemical. 1,3-butanediol can be synthesized by two methods: acetaldehyde condensation method and acetaldehyde fermentation method.
1,3-butanediol is mainly employed in applications such as production of unsaturated polyester resins, plasticizers, and industrial dehydrating agents. It is also used as a humectant and emollient in personal care and cosmetic products, owing to its low toxicity, excellent hygroscopicity, and good water solubility.
A rise in demand for 1,3-butanediol from the pharmaceutical industry and rapid increase in the demand for cosmetic products are projected to drive the 1,3-butanediol market during the forecast period. Moreover, 1,3-butanediol is used to derive exceptional plasticizers such as monocarboxylic acid monoester. These plasticizers are used in the production of plastics such as polyvinyl chloride (PVC). Significant growth in plastic and polymer industries is anticipated to fuel the market in the coming years. 1,3-butanediol has applications as an antibacterial agent in dairy & meat products due to its antibacterial properties.
Global 1,3-butanediol Market: Segmentation
The global 1,3-butanediol market can be segmented based on function, synthesis, end-use industry, and region. In terms of function, the market can be divided into humectant, emollient, stabilizer, intermediate, and solvents.
Based on synthesis, the global 1,3-butanediol market can be categorized into natural and synthetic. In terms of end-use industry, the market can be divided into cosmetics & personal care, polymer, paints & coatings, food, and others (including the plastic industry). The cosmetics & personal care segment constituted a significant share of the global 1,3-butanediol market. A rise in awareness about skin care and hair care and a rise in disposable income are anticipated to augment demand for cosmetics & personal care products. 1,3-butanediol has excellent properties for preservation of cosmetics against decay due to micro-organisms. 1,3-butanediol is extensively utilized in the formulation of skin care, hair care, and facemask cosmetic products. Therefore, rise in demand for cosmetics & personal care products is projected to drive the global 1,3-butanediol market.
Global 1,3-butanediol Market: Regional Outlook
Based on region, the global 1,3-butanediol market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific dominates the global market, and the trend is anticipated to continue during the forecast period, owing to expansion in the health care industry in the region backed by private and public investments. Pharmaceutical and medical infrastructure in emerging economies of Asia Pacific such as China and India has developed rapild due to a rise in the population and increase in disposable income. The 1,3-butanediol market in Asia Pacific is anticipated to expand at a rapid pace.
The market in North America and Europe is anticipated to expand at a significant pace, owing to high demand for 1,3-butanediol from the cosmetic & personal care, paints & coatings, and plastic industries. Moreover, stringent environmental laws in North America and Europe are augmenting demand for bio-based chemicals. This is likely to fuel demand for 1,3-butanediol as it is an organic compound. The market in Latin America and Middle East & Africa is projected to expand at a sluggish growth rate during the forecast period.
Global 1,3-butanediol Market: Competition Landscape
The global 1,3-butanediol market is fragmented due to the presence of global and regional players. Key manufacturers operating in the global 1,3-butanediol market are Daicel Corporation, Godavari Biorefineries Ltd., Shanghai Jinjin Industry Co., Ltd.,Penta Manufacturing Company, OXEA GmbH, MMP Inc., Whyte Chemicals Limited, and Rita Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.