Global Butylene Glycol Market Overview
The Butylene Glycol Market Size was estimated at 3.23 (USD Billion) in 2022.The Butylene Glycol Industry is expected to grow from 3.36(USD Billion) in 2023 to 4.8 (USD Billion) by 2032. The Butylene Glycol Market CAGR (growth rate) is expected to be around 4.04% during the forecast period (2024 - 2032).
Key Butylene Glycol Market Trends Highlighted
The Butylene Glycol Market is experiencing a surge in demand due to its versatility and wide-ranging applications. Key market drivers include the increasing use of butylene glycol in the production of personal care products, such as cosmetics and toiletries, as well as its growing adoption in the manufacturing of pharmaceuticals, paints and coatings. Innovations have led to the development of bio-based butylene glycol, addressing environmental concerns and opening up new opportunities. Additionally, the rising demand for eco-friendly and sustainable products is driving the growth of the bio-based butylene glycol segment.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Butylene Glycol Market Drivers
Increasing Demand from Personal Care and Cosmetics Industry
Butylene glycol market is boosted by its consumption in the personal care and cosmetics industry, which is its major consumer. It is used as a humectant, emollient and solvent in a wide variety of products ranging from skincare and haircare to makeup. The increasing demand for personal care and cosmetic products, especially in developing regions, is expected to be the major driver for the growth of the butylene glycol market. The growth of the skin industry is also expected to drive the market for butylene glycol, as it has a major role in maintaining the moisture content and enhancing the appearance of the skin.On top of that, due to the positive solvent effect of butylene glycol, it is used in various concentrations in different forms, from hair serums to foundation gels. Increasing awareness among customers related to the benefits of using butylene products and improving disposable income, particularly in some developing regions, is expected to drive the growth of this market segment.
Growing Adoption in Industrial Applications
Apart from serving as a conditioning agent, butylene glycol finds its utilization in various industrial applications such as a solvent, antifreeze and deicing agent. The enhanced demand for butylene glycol in the automotive, construction, and manufacturing industries is anticipated to fuel the development of the market. Its capability to dissolve a wide range of substances and its low freezing point make butylene glycol a critical ingredient in various industrial processes.The progressively increasing demand for butylene glycol in the automotive industry, which is primarily due to the increased requirement for lightweight and fuel-efficient automobiles, is expected to fuel the market development. In addition, the rapidly growing construction activities in emerging markets are anticipated to substantially drive the demand for butylene glycol within the construction industry.
Expansion of Bio-based Butylene Glycol Production
Changes in the business environment and increasing concerns regarding the impact of traditional butylene glycol production are driving the growth of a bio-based butylene glycol market. Bio-based butylene glycol is produced from renewable resources, such as sugarcane and corn, and has a lower carbon footprint. The increased availability of bio-based butylene glycol and growing demand for sustainable products are likely to drive this segment’s growth.Additionally, government measures promoting the use of bio-based materials are expected to drive demand for bio-based butylene glycol.
Butylene Glycol Market Segment Insights
Butylene Glycol Market Grade Insights
The Butylene Glycol Market is segmented based on grade into commercial grade, chemical grade, and pharmaceutical grade. The chemical grade segment is expected to hold the largest share of the market in 2023, accounting for over 55% of the Butylene Glycol Market revenue. This is due to the wide range of applications of chemical-grade butylene glycol in industries such as automotive, construction, and paint coatings. The commercial grade segment is expected to grow at a CAGR of 4.5% during the forecast period, driven by the increasing demand from the food and beverage industry.The market growth is attributed to the increasing demand for butylene glycol from various end-use industries, including automotive, construction, paint coatings, food, beverage and pharmaceuticals. The rising demand for bio-based butylene glycol is also expected to contribute to the market growth. The Asia Pacific region is expected to be the largest market for butylene glycol, accounting for over 50% of the Butylene Glycol Market revenue in 2023. The growth in this region is attributed to the increasing demand from the automotive and construction industries.The North America and Europe regions are also expected to witness significant growth in the butylene glycol market during the forecast period. Overall, the Butylene Glycol Market is expected to witness steady growth in the coming years, driven by the increasing demand from various end-use industries. The rising demand for bio-based butylene glycol is also expected to contribute to the market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Butylene Glycol Market End-Use Industries Insights
There are various end-use industries of Butylene Glycol Market since each one has a different application need. The automotive and transportation industry uses Butylene Glycol in brake fluids, antifreeze, and coolants. The end-use application comprised nearly 22% of the Butylene Glycol Market revenue in 2023. The paints and coatings industry used Butylene Glycol as a solvent and coalescing agent and represented approximately 18% of the market. The pharmaceuticals industry used Butylene Glycol in antibiotics, vitamins, and other products and represented approximately 15% market.The electronics industry uses Butylene Glycol in capacitors and printed circuit boards and is responsible for approximately 12% market. The personal care and cosmetics industry uses Butylene Glycol in cosmetics, hair care products and skincare products and is responsible for approximately 10% of the Butylene Glycol Market.
Butylene Glycol Market Application Insights
The Butylene Glycol Market is segmented by Application into Antifreeze and Coolants, Brake Fluids, Deicing Agents, Pharmaceutical Excipients, Plasticizers and Solvents. Among these, the Plasticizers segment held the largest market share in 2023, accounting for over 40% of the Butylene Glycol Market revenue. This is due to the increasing demand for plasticizers in various industries, such as automotive, construction and packaging. The Pharmaceutical Excipients segment is also expected to witness significant growth in the coming years, owing to the rising demand for butylene glycol as a solvent and stabilizer in pharmaceutical formulations.The Antifreeze and Coolants segment is another major application segment, and it is expected to grow steadily over the forecast period due to the increasing demand for antifreeze and coolants in the automotive industry.
Butylene Glycol Market Global Production Capacity Insights
The global production capacity of Butylene Glycol Market has been on a steady rise in recent years, driven by increasing demand from end-use industries such as automotive, construction, and personal care. In 2022, the global production capacity of Butylene Glycol Market was estimated to be around 13.5 million metric tons, exhibiting a significant increase from 11.5 million metric tons in 2019. This growth is attributed to factors such as rising disposable incomes, urbanization, and the growing popularity of eco-friendly products. The market is projected to witness further expansion in the coming years, with a projected production capacity of 17.8 million metric tons by 2032.This growth is expected to be supported by increasing demand from emerging economies and the development of new applications for Butylene Glycol Market.
Butylene Glycol Market Key Market Trends Insights
The Butylene Glycol Market is expected to witness a steady growth rate during the forecast period of 2024-2032. Key market trends that are driving the growth of the market include Rising demand from the automotive industry: Butylene glycol is used in the production of brake fluids, antifreeze and coolants. The increasing number of vehicles on the road is driving the demand for butylene glycol. Growing adoption in paints and coatings applications: Butylene glycol is used as a solvent in paints and coatings. The growing construction industry is driving the demand for paints and coatings, which in turn is driving the demand for butylene glycol. Shift towards environmentally friendly products: Butylene glycol is a biodegradable and non-toxic solvent, which is driving its adoption in various industries. The growing awareness about environmental sustainability is driving the demand for environmentally friendly products, which is benefiting the butylene glycol market. Technological advancements in pharmaceutical applications: Butylene glycol is used as an excipient in pharmaceutical formulations. The growing pharmaceutical industry is driving the demand for butylene glycol. Increased focus on personal care and cosmetics: Butylene glycol is used in the production of personal care and cosmetic products, such as moisturizers, lotions and shampoos.This growth will be driven by the increasing demand for butylene glycol from various industries, such as the automotive, paints and coatings, pharmaceutical and personal care and cosmetics industries.
Butylene Glycol Market Regional Insights
The regional landscape of the Butylene Glycol Market exhibits distinct growth trends across various geographic regions. North America holds a significant market share, driven by rising demand from the automotive, construction and personal care industries. Europe follows closely, with strong demand from the chemical and pharmaceutical sectors. The Asia-Pacific region is projected to witness the fastest growth, owing to the increasing population, urbanization, and industrialization in countries like China and India. South America and the Middle East Africa (MEA) regions are expected to contribute a smaller share to the Butylene Glycol Market revenue, but they offer potential growth opportunities due to ongoing infrastructure development and economic growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Butylene Glycol Market Key Players And Competitive Insights
Major players in Butylene Glycol Market industry are constantly striving to gain a competitive edge by adopting various strategies. These strategies include expanding their production capacities, investing in research and development, and forming strategic partnerships. Leading Butylene Glycol Market players are also focusing on developing new and innovative products to meet the evolving needs of their customers. The Butylene Glycol Market development landscape is characterized by a number of key trends. One of the most notable trends is the increasing demand for bio-based butylene glycol. This is due to the growing awareness of the environmental impact of traditional petrochemical-based products. As a result, many Butylene Glycol Market players are investing in the development of bio-based butylene glycol production technologies. Another key trend is the growing demand for butylene glycol in the automotive industry. This is due to the increasing use of plastics in automotive applications. As a result, many Butylene Glycol Market players are targeting the automotive industry as a key growth market. The Butylene Glycol Market Competitive Landscape is highly fragmented, with a number of large and small players competing for market share. Some of the major players in the Butylene Glycol Market include BASF, Dow, and LyondellBasell. These companies have a strong global presence and a wide range of products. They are also investing heavily in research and development to maintain their competitive edge.A leading company in the Butylene Glycol Market is BASF. BASF is a German chemical company that is headquartered in Ludwigshafen, Germany. The company has a global presence and a wide range of products. BASF is a major producer of butylene glycol, and it supplies this product to a variety of industries. The company is also investing heavily in research and development to develop new and innovative products. BASF is a strong competitor in the Butylene Glycol Market, and it is expected to continue to be a major player in the years to come.A competitor company in the Butylene Glycol Market is Dow. Dow is an American chemical company that is headquartered in Midland, Michigan. The company has a global presence and a wide range of products. Dow is a major producer of butylene glycol, and it supplies this product to a variety of industries. The company is also investing heavily in research and development to develop new and innovative products. Dow is a strong competitor in the Butylene Glycol Market, and it is expected to continue to be a major player in the years to come.
Key Companies in the Butylene Glycol Market Include
- BASF SE
- Sinopec
- Braskem S.A.
- Toray Industries, Inc.
- Repsol S.A.
- Chevron Phillips Chemical Company LP
- LG Chem Ltd.
- Evonik
- LyondellBasell Industries Holdings B.V.
- Formosa Chemicals Fibre Corporation
- Huntsman Corporation
- Asahi Kasei Corporation
- SABIC
- China National Petroleum Corporation
- Shell plc
Butylene Glycol Market Industry Developments
The Butylene Glycol market is projected to grow from USD 3.36 billion in 2023 to USD 4.8 billion by 2032, at a CAGR of 4.04% during the forecast period. Rising demand from the automotive and construction industries, coupled with growing awareness about the environmental impact of traditional solvents, is driving market growth. The Asia-Pacific region is expected to dominate the market, owing to the increasing demand from China and India. Key players in the market include BASF, Dow, and LyondellBasell. Recent developments include the launch of new products, such as BASF's Butanediol and Dow's Tertrahydrofuran, and the expansion of production capacities by major players.
Butylene Glycol Market Segmentation Insights
- Butylene Glycol Market Grade Outlook
- Commercial Grade
- Chemical Grade
- Pharmaceutical Grade
- Butylene Glycol Market End-Use Industries Outlook
- Automotive and Transportation
- Paints and Coatings
- Pharmaceuticals
- Electronics
- Personal Care and Cosmetics
- Butylene Glycol Market Application Outlook
- Antifreeze and Coolants
- Brake Fluids
- Deicing Agents
- Pharmaceutical Excipients
- Plasticizers
- Solvents
- Butylene Glycol Market Global Production Capacity Outlook
- 2019: 11.5 Million Metric Tons
- 2022: 13.5 Million Metric Tons
- 2032: Projected 17.8 Million Metric Tons
- Butylene Glycol Market Key Market Trends Outlook
- Rising Demand from Automotive Industry
- Growing Adoption in Paints and Coatings Applications
- Shift towards Environmentally Friendly Products
- Technological Advancements in Pharmaceutical Applications
- Increased Focus on Personal Care and Cosmetics
- Butylene Glycol Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
3.23(USD Billion) |
| Market Size 2023 |
3.36(USD Billion) |
| Market Size 2032 |
4.8(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.04% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
BASF SE, Sinopec, Braskem S.A., Toray Industries, Inc., Repsol S.A., Chevron Phillips Chemical Company LP, LG Chem Ltd., Evonik, LyondellBasell Industries Holdings B.V., Formosa Chemicals Fibre Corporation, Huntsman Corporation, Asahi Kasei Corporation, SABIC, China National Petroleum Corporation, Shell plc |
| Segments Covered |
Grade, End-Use Industries, Application, Global Production Capacity, Key Market Trends, Regional |
| Key Market Opportunities |
High demand for plasticizers Growing use in personal care applications Expanding cosmetics industry Potential as a renewable solvent Biodegradable and sustainable |
| Key Market Dynamics |
Increasing demand from end-use industries Technological advancements Fluctuating raw material prices Growing environmental concerns Rising demand from emerging economies |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Butylene Glycol Market is expected to reach USD 3.36 billion in 2023.
The Butylene Glycol Market is expected to grow at a CAGR of 4.04% from 2024 to 2032.
Asia-Pacific is the largest regional market for Butylene Glycol, accounting for over 50% of the global market share.
The key applications of Butylene Glycol include solvents, plasticizers, and brake fluids.
The key competitors in the Butylene Glycol Market include BASF, Dow, and Shell.
The major factors driving the growth of the Butylene Glycol Market include the increasing demand for solvents and plasticizers in various industries.
The challenges faced by the Butylene Glycol Market include the volatility of raw material prices and environmental regulations.
The opportunities for the Butylene Glycol Market include the growing demand for bio-based products and the development of new applications.
The key trends in the Butylene Glycol Market include the increasing adoption of sustainable practices and the development of innovative technologies.
The Butylene Glycol Market is expected to reach USD 4.8 billion by 2032.
