- The 1,3-butylene glycol market size is predicted to generate a revenue of $227,057.5 thousand by 2030.
- Demand is up for beauty and personal care products across the world.
With the expansion of the cosmetics industry, the demand for 1,3-butylene glycol is rising sharply across the world. This is because the compound is heavily used as a humectant in cosmetics, due to its ability to be used as viscosity-decreasing component. In addition to this, the compound fixes volatile compounds such as flavors and fragrances in cosmetic formulations, which, in turn, stabilizes them, assists in aroma retention, and prevents the spoilage of cosmetic formulations by microorganisms.
Furthermore, the compound has a high distribution coefficient, which leads to the higher efficacy of the preservatives mixed in the formulations. This allows the cosmetics producers to reduce the dosage of the applied preservatives. Besides this, the surging geriatric population, the huge investments being made in the cosmetics sector, and the soaring disposable income of people are also positively impacting the demand for 1,3-butylene glycol by pushing up the demand for beauty and personal care products across the world.
Another major factor fueling the demand for the compound is its mushrooming requirement in the pharmaceutical sector. Due to these factors, the global 1,3-butylene glycol market is booming. As a result, its size is predicted to rise from $139,994.9 thousand in 2019 to $227,057.5 thousand by 2030. Furthermore, the market is expected to progress at a CAGR of 5.0% between 2020 and 2030. Cosmetics and personal care products and food products are the major application areas of 1,3-butylene glycol.
Between the two, cosmetics and personal care products generated the greater demand for the compound in the past. As per the studies conducted on the research activities being carried out for the development of new application areas for the compound, the compound is highly suitable for use as an intermediate, humectant, and emollient for personal care products. Furthermore, the growing incidence of skin diseases, especially photoaging, is also fueling the sales of personal care products.
This is subsequently propelling the requirement for the compound. Depending on product, the 1,3-butylene glycol market is classified into industrial grade and pharmaceutical grade. Between these, the pharmaceutical grade category dominated the market in 2019, primarily because of the extensive requirement for this variant in end-use industries such as personal care & cosmetics and food. Additionally, many personal care product manufacturing companies are making huge investments for developing new products. This is further augmenting the demand for pharmaceutical-grade 1,3-butylene glycol.
Globally, the 1,3-butylene glycol market will exhibit the fastest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the estimates of the market research company, P&S Intelligence. This is attributed to the ballooning sales of beauty care products in the emerging economies such as India and China, due to the surging disposable income of the people residing in these countries. Moreover, many beauty care product manufacturers are rapidly expanding their production capacities for meeting the soaring requirements.
Therefore, it is clear that the demand for 1,3-butylene glycol will surge in the upcoming years, mainly because of its growing usage in the pharmaceutical industry and cosmetics and personal care products and the expansion of these industries across the world.