Assessment of the Global 1,3 Butanediol Market
Fact. MR’s latest published report on the global 1,3 Butanediol market highlights the important parameters that are expected to influence market growth in the upcoming years. Further, by taking into account the historical data collected from the period 2015-2019 and analyzing the current trends and market scenario, the analysts offer highly accurate estimates regarding the future prospects of the market.
The study further highlights the key market trends in the current market landscape and its potential impact on the future dynamics of the market. The micro and macro-economic growth indicators are thoroughly investigated in the presented report while predicting the course of the 1,3 Butanediol market during the forecast period (2020-2025).
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Critical Questions Answered
- What is the projected market size of the 1,3 Butanediol market in 2019?
- What are the growth prospects of the emerging market players in the 1,3 Butanediol market?
- Who are the leading 1,3 Butanediol manufacturers?
- What is the most adopted distribution channel adopted by players in the 1,3 Butanediol market?
- The market in which region is expected to witness the highest growth over the forecast period?
Key Takeaways from the 1,3 Butanediol Market Report
- Timeline of the technological developments within the 1,3 Butanediol market landscape
- New product launches and innovations
- Consumption analysis of the 1,3 Butanediol in end markets
- Scope of innovation in the 1,3 Butanediol market
- Winning strategies of established players in the 1,3 Butanediol market
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1,3 Butanediol Market Segmentation
The report is split into different market segments to enable readers to understand the various aspects of the 1,3 Butanediol market at the microscopic level. Different segments included in the presented report:
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Advent of Bio-based 1,3 Butanediol to Propel the Global 1,3 Butanediol Market
The rising concerns over environmental degradation and the rising trend of natural personal care products, has led to the emergence of bio-based 1,3 butanediol. Currently, natural ingredients represent only 7% of the overall market. However, they are expected to grow with a healthy CAGR in the coming years. With the rising trend of natural ingredients, manufacturers have introduced bio-based 1,3 butanediol derived from natural, plant-based sugar using fermentation process technology. This innovative approach has a strong demand in cosmetic & personal care industry owing to the growing need for natural ingredients. This bio-based technology helps in reducing global warming and carbon footprint. Manufacturers have successfully commercialized their products in the market.
- For instance, Genomatica, a bio-engineering company produces Brontide butylene glycol from sustainable fermentation process technology. The company has recently supplied 600 tons of Brontide in European market.
- Godavari Biorefineries, a bio-refining company produced bio-based 1,3 butylene glycol “NaturoBG” from renewable resource. NaturoBG has been certified by USDA for 100% bio-based carbon content. The company is also COSMOS (Cosmetic Organic and Natural standard) certified.
Shift Toward Online Sales Channels is Shaping the Cosmetics & Personal Care Market
Fact.MR has identified a massive growth in e-commerce and direct-to-consumer shipping methods. Consumers are turning towards online platforms for personal care products. Besides, they also get the advantage of reviews and ratings for a particular product. Thus, online sales of personal care products are increasing rapidly. According to a survey in 2018 in the U.S., the online sales of personal care products grew by 24%, and the overall growth in sales of personal care products was 3% – 4%. This shows that a majority of the consumers have moved to online platforms for shopping of personal care products in the U.S. Moreover, the recent digital developments in the Asia-Pacific region, especially in India and Indonesia, will further boost the market for 1,3 butanediol market. The penetration of internet and smart marketing strategies by e-commerce retailers will help in increasing the demand for cosmetic products. Online platforms can provide an option of customization of the product as well. Hence, the shift towards online sales channel worldwide is presenting enormous growth opportunities within the 1,3 butanediol market over the forecast period.
Capacity Expansion and Acquisitions Top Strategies of Key Market Players
Owing to the growing demand for 1,3 butanediol, key players are strategically expanding their production capacity to meet the growing needs of the market. Manufacturers have expanded their R&D facility to cope up with the growing needs of consumers and remain competitive in the ever-increasing global market. The companies are also entering into a long-term partnership with end-use industries, raw material suppliers, and global players, to have a strong presence in the worldwide market. Manufactures such as Godavari bio refineries Ltd. and Genomatica are involved in the production of natural bio-based 1,3 butanediol specifically for cosmetics & personal care industry.
Some of the major expansions and acquisition in the market includes:
- In June 2019, Daicel corporation, a Japan based chemical company, announced that it will expand its production facility of 1,3-butylene glycol cosmetics grade at Aboshi, Japan plant.
- In March 2017, Oxea Gmbh, a leading producer of oxo intermediates and derivatives, has started capacity increase project of 1,3 butylene glycol in Bishop, U.S.
- In July 2019, Godavari Biorefineries Ltd., an Indian based bio refinery company received USDA certified biobased product label for NaturoBG, biobased 1,3 butylene glycol
Genomatica, a biotechnology company has partnered with numerous industry giants such as Covestro, Novamount, Viachem, and Daicel Corporation for the distribution of its bio-based 1,3 butanediol across the globe.
Few of the other companies in the 1,3 butanediol market are also involved in the product innovation, expansion of product line, and collaboration with industry giants and end users to hold a strong position in the market.
1,3 Butanediol Market – Regional Developments in the Market
Manufacturers of 1,3 butanediol are majorly concentrated in North America and Asia Pacific region. North America dominates the global 1,3 butanediol market owing to presence of advanced technologies and production facilities in the region. Moreover, the consumption of the end-product is high in this region. Almost 35% of the overall consumption of 1,3 butanediol is from North America. Moreover, U.S. based manufacturer Genomatica has recently launched its bio-based 1,3 butanediol in the market. Natural products comprise of about 6% of the overall personal care products in North America.
Moreover, the penetration of natural products is high in North America and the European region owing to stringent regulations on cosmetic ingredients and more awareness about the adverse effects of synthetic products. Europe accounts for around 25% of the global cosmetics & personal care market, taking the second position after Asia Pacific. However, the demand for 1,3 butanediol in Europe is moderate owing to limited production of 1,3 butanediol in the region. The demand is majorly driven by strong skin care and hair care products in the region.
Asia Pacific represents the largest share in global personal care products market, with sales fueled mainly by population growth, urbanization and rising per capita spending of consumer. With an increasing working population and awareness about personal appearance and hygiene, the demand for personal care products is increasing in the region. The majority of the demand for 1,3 butanediol is from China, owing to a large population and rapid development of the economy. However, the demand is completely import driven. Manufacturers form China are focusing on research and development activities and running trials to commercialize the 1,3 butanediol in the region. On the other hand, Japan is one of the major producers and exporters of 1,3 butanediol with the presence of prominent players such as Daicel Corporation and K H Neochem in the region. Moreover, the demand in the developing economies in South Asia such as India and Indonesia has witnessed spurring growth in the coming future.
In Latin America, the demand for 1,3 butanediol has witnessed a steady growth in the coming forecast period owing to a rise in the middle class population and a strong desire for personal grooming. Moreover, the rising economy and growing per capita spending on personal care products of Mexico and Brazil has further boosted the overall demand of 1,3 butanediol. In addition to this, Brazil represents the fourth largest market of global personal care market. The country accounts for around 10% of the global market and penetration of 1,3 butanediol is shallow in the region bringing profitable opportunities for the manufacturers.
In Middle East & Africa, the demand for 1,3 butanediol is progressing owing to the growing demand for natural and premium products, majorly in GCC Countries. In addition to this, UAE represents the largest consumer of personal care industry in the region spurring the growth of 1,3 butanediol.
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The growth projection of each segment and sub-segment is accurately represented in the report along with relevant figures, tables, and graphs.
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