The global 1,3-butylene glycol market had a valuation of $139,994.9 thousand in 2019 and is predicted to register a CAGR of 5.0% between 2020 and 2030. According to the estimates of P&S Intelligence, a market research firm based in India, the market would generate a revenue of $227,057.5 thousand by 2030. The growing requirement for 1,3-butylene glycol in the pharmaceutical industry and the boom of cosmetic product industry are the major growth drivers of the market.
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1,3-butylene glycol is extensively used in cosmetics products as a humectant, on account of its ability to be used as a viscosity-decreasing component. In addition to this, the compound fixes volatile organic compounds such as flavors and fragrances in cosmetic formulations, which helps in stabilizing them and assists in aroma retention and also prevents the chances of spoilage caused because of cosmetic formulations by microbes. Furthermore, the compound has a very good distribution coefficient.
This leads to better efficacy of the various preservatives mixed in the formulations, which, in turn, makes the reduction in the dosage of the applied preservatives possible for cosmetic producers. Apart from these factors, the soaring geriatric population, the surging disposable income of people all over the globe, and the increasing investments being made in the cosmetics industry are also fueling the demand for this compound. This is, in turn, boosting the growth of the 1,3-butylene glycol market.
This was due to the huge requirement for the pharmaceutical grade variant in various end-use industries such as personal care and cosmetics and food. Across the globe, the 1,3-butylene glycol market is predicted to exhibit the highest growth rate in Asia-Pacific (APAC) in the upcoming years. The soaring disposable income of people in emerging economies such as India and China is pushing up the sales of beauty care products, which is, in turn, driving the expansion of the market.
Hence, it is safe to say that the market would demonstrate huge expansion across the world in the forthcoming years, mainly because of the rising requirement for the compound in the pharmaceutical and cosmetics industries and the boom of these industries all over the world.
Read More: https://www.psmarketresearch.com/market-analysis/1-3-bg-market
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