Global 2,3-Butanediol Market Size By Type (Content 90%-95%, Content＞95%), By Application (Intermediate Chemical, Plastics, Food-Additives, Cosmetics), By Geographic Scope And Forecast

2,3-Butanediol Market Size And Forecast

2,3-Butanediol Market size was valued at USD 190.28 Million in 2023 and is projected to reach USD 240.45 Million by 2030, growing at a CAGR of 4.1% from 2024 to 2030.

Global 2,3-Butanediol Market Drivers

The market drivers for the 2,3-Butanediol Market can be influenced by various factors. These may include

• Applications in Industry2,3-Butanediol finds application in a number of industries, including chemical manufacture, food and beverage production, cosmetics, and medicines. The need for 2,3-Butanediol may be driven by growth in various sectors, particularly in emerging regions.
• An alternative to chemicals derived from petroleumAs the focus shifts to bio-based chemicals and environmental sustainability, 2,3-butanediol—which is obtained from renewable sources like biomass—may become more in demand as a substitute for petroleum-based compounds.
• Trends in Health and WellbeingGrowing consumer preferences for natural and organic products are driving up demand for bio-based ingredients in food and personal care items. If 2,3-butanediol is marketed as a sustainable and natural substance, these tendencies may be advantageous.
• Technological developmentsProduction of 2,3-Butanediol can become more competitive when compared to conventional chemical synthesis methods due to improvements in cost and efficiency resulting from biotechnology and fermentation processes.
• Government Regulations and PoliciesManufacturers may be encouraged to invest in the production of 2,3-butanediol by encouraging the use of bio-based chemicals and renewable resources through supportive government regulations. On the other hand, laws that limit the use of specific chemicals or support environmentally friendly methods can potentially increase demand for bio-based substitutes like 2,3-Butanediol.
• Emerging MarketsAs these areas see increases in the consumption of a range of consumer and industrial goods, rapid industrialization and urbanisation, especially in areas like Asia-Pacific and Latin America, may present new opportunities for producers of 2,3-butanediol.
• Consumer Education and AwarenessRaising consumer knowledge of the advantages of adopting bio-based substitutes over conventional chemical manufacturing techniques and the environmental effects of those methods can stimulate demand for 2,3-Butanediol and related products.

Global 2,3-Butanediol Market Restraints

Several factors can act as restraints or challenges for the 2,3-Butanediol Market. These may include

• Production CostsThese might be a major source of limitation. A complicated production method or one that uses pricey raw materials may restrict market expansion.
• Regulatory ObstaclesBy raising compliance costs or restricting the use of particular chemicals or processes, regulatory restrictions like safety standards or environmental rules can impede market expansion.
• Availability of Raw MaterialsThe cost and accessibility of the raw materials needed to produce 2,3-butanediol might have an impact on the dynamics of the market. Production and pricing might be impacted by any changes or disruptions in the supply chain.
• Competition from Alternative ProductsThe expansion of the 2,3-butanediol market may be hampered by alternatives or substitutes that provide comparable features or qualities. If these alternatives are easier to come by or more affordable, customers might choose them.
• Technological problemsThe production process’s scalability, efficiency, or product quality are examples oftechnological constraints or problems that may impede market expansion.
• Economic FactorsConsumer demand and investments in new products and technologies might be impacted by economic downturns or instability, which can have an effect on the 2,3-butanediol market’s growth prospects.
• Geopolitical FactorsThe availability and cost of 2,3-butanediol can be impacted by supply chain disruptions, trade obstacles, or regulations that impact international trade.
• Customer Knowledge and GratitudeMarket expansion may be hampered by low consumer acceptance or awareness of 2,3-butanediol-containing products, especially in some applications or geographical areas.
• Environmental ConcernsThe demand for 2,3-butanediol may be impacted by rising environmental consciousness, the move towards sustainable alternatives, and changes in consumer tastes and regulatory laws.

Global 2,3-Butanediol Market Segmentation Analysis

The Global 2,3-Butanediol Market is Segmented on the basis of Type, Application, And Geography.

2,3-Butanediol Market, By Type

• Content 90%-95%• Content＞95%• Others

Based on Type, The market is bifurcated into Content 90%-95%, Content＞95%, and Others. The Content 90%-95% segment holds the largest market share during the forecast period. The factors that can be attributed to increasing usage to produce high-quality aviation fuel are driving the demand for this segment.

2,3-Butanediol Market, By Application

• Intermediate Chemical• Plastics• Food-Additives• Cosmetics• Other

Based on Application, The market is bifurcated into Intermediate Chemical, Plastics, Food-Additives, Cosmetics, and Others. The intermediate chemicals segment is estimated to witness the highest CAGR during the forecast period. Butanediol is used as an intermediate chemical in various industrial compounds, which can be used as building blocks for the production of synthetic rubbers, plasticizers, printing inks, solvents, flavorings, and pharmaceuticals.

2,3-Butanediol Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Regional Analysis, The Global 2,3-Butanediol Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America holds the largest market share. The increase in the region as food additive during the forecast period and ongoing projects will boost the market in the North American region.

Key Players

The “Global 2,3-Butanediol Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as BASF, Dairen Chemical, Lyondellbasell, Ashland, Nanya Plastics Corporation, Mitsubishi Chemical Corporation, INVISTA, MarkorChem, Xinjiang Tianye, Changcheng Energy, Celanese Corporation, Evonik Industries, Myriant Corporation, Dow Chemical Company, DuPont, and Others.  The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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