The 1,3-butylene market growth in APAC is expected to be the most significant across the world during 2018–2024. This would be because of the growing demand for the chemical in the developing countries of the region. Though the healthcare expenditure here is quite low compared to Europe and North America, the large population bodes well for the healthcare and pharmaceutical industries. Additionally, China, South Korea, and Japan are among the largest markets for cosmetics across the world, which has a direct positive impact on the demand for 1,3-BG.
The population continues to grow rapidly across world,
primarily in developing countries, such as India and China. More people mean
more mouths to feed, which continues to drive the food and beverages sector.
The rising population also translates into more individuals who need medical
treatment, due to the rising prevalence of several diseases. Along with the
number of people, their disposable income is also growing, which is giving them
a higher spending power. They are now able to afford products and services,
which earlier were a luxury, such as cosmetics. Now, there are certain raw
materials that go into food, pharmaceutical, and cosmetic products, such as 1,3-butylene
glycol or 1,3-BG.
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Owing to the growth of the above-mentioned end-use
industries, the 1,3-butylene glycol market reached $127.8 million in
2017, and it is expected to further grow to $178.5 million by 2024. An organic
compound, specifically an alcohol, 1,3-BG is produced using a combination of
the aldol condensation and catalytic hydrogenation methods. The first method is
used to convert acetaldehyde to acetaldol, whereas in the second process, the
acetaldol is reacted with hydrogen in the presence of a catalyst.
Pharmaceutical and industrial are the two grades, in which 1,3-BG is available.
During 2013–2017, the pharmaceutical-grade product was more widely sold.
It is used as an intermediate during the production of
personal care, cosmetic, food, and pharmaceutical products, owing to its better
anti-bacterial action than similar compounds, including propylene glycol,
glycerol, and sorbitol. In cosmetics and drugs, the compound is used for
retaining moisture, preventing crystallization, and imparting fragrance.
Additionally, it also helps maintain the end products’ viscosity and skin
condition ability. Depending on its actual purpose, the amount of 1,3-BG used
in cosmetics varies, with a higher amount required for inhibiting the growth of
fungi than bacteria.
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Earlier concentrated in Europe and North America, the
pharmaceutical industry is expanding in Asia-Pacific (APAC), primarily owing to
the improvements in the healthcare infrastructure and boom in the population in
India and China. Additionally, with the rising disposable income across the
world, the sale of cosmetic, skincare, and haircare products is also
increasing. During their production, 1,3-BG lowers the requirement for
preservatives with its excellent distribution coefficient, which maximizes the
effectiveness of the preservatives used.
The leading manufacturers of cosmetics, such as Avon
Products Inc., L’Oreal Group, Oriflame Cosmetics, and The Estée Lauder
Companies Inc., are developing enhanced products, thereby driving the demand
for the compound. These companies are prospering owing to the rising awareness
about skin and haircare, which is driving cosmetics’ sales. Additionally,
people are also becoming aware about the ingredients used in hair products,
bath products, personal cleanliness products, facial makeup, skincare products,
and shaving products, and how those ingredients are being manufactured.
Therefore, companies that manufacture 1,3-BG via environment-friendly methods
stand to benefit from this heightened awareness.
Hence, with the further increase in population and
disposable income, the demand for food, beverages, drugs, and cosmetics would
also grow, which would lead to a rise in 1,3-BG consumption.
