2,3-Butanediol Market Analysis: Growth, Size, Share & Future Trends (2024-2029)

The market report provided a comprehensive analysis segmented by Chemical Structure (2,3- Butanediol (2S, 3S), 2,3- Butanediol (2R, 3R), Meso- 2,3-Butanediol (2R- 3S or 3R-2S), Others); by Function (Humectant, Anti-freeze Agent, Solvent, Plant Growth Promoter, Flavoring Agent, Others); by Application (Fertilizers, Plasticizers, Printing Inks, Perfumes, Food Additives, Resins, Others); by End Use (Chemical, Pharmaceutical, Cosmetics & Personal Care, Food & Beverages, Inks & Dyes, Agrochemical, Others); by Geography (North America, South America, Asia Pacific, Europe, the Middle East, Africa).

Outlook 

• The 2,3-butanediol market is estimated to be at USD 248.38 Mn in 2024 and is anticipated to reach USD 298.71 Mn in 2029. 

• The 2,3-butanediol market is registering a CAGR of 3.76% during the forecast period of 2024-2029. 

• The 2,3-butanediol market is expanding rapidly, driven by its increasing use in cosmetics, bio-based chemicals, and pharmaceuticals. As industries shift towards sustainability, the demand for this bio-based compound is growing. 

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Ecosystem 

• The participants in the global 2,3-butanediol industry are always developing their strategies to preserve a competitive advantage.  

• Key players are forming partnerships and joint ventures, often between chemical companies and biotech firms, to boost production capabilities and broaden their market reach. 

•  Several important entities in the 2,3-butanediol market include Haihang Industry Co., Ltd.; Guangzhou Jiahua Chemical Co., Ltd.; Career Henan Chemical Co.; Tokyo Chemical Industry Co., Ltd.; Orochem Technologies Inc.; and others. 

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Findings 

Attributes	Values
Historical Period	2018-2022
Base Year	2023
Forecast Period	2024-2029
Market Size (2024)	USD 248.38 Mn
Market Size (2029)	USD 298.71 Mn
Growth Rate	3.76% CAGR from 2024 to 2029
Key Segments	Chemical Structure (2,3- Butanediol (2S, 3S), 2,3- Butanediol (2R, 3R), Meso- 2,3-Butanediol (2R- 3S or 3R-2S), Others); Function (Humectant, Anti-freeze Agent, Solvent, Plant Growth Promoter, Flavoring Agent, Others); Application (Fertilizers, Plasticizers, Printing Inks, Perfumes, Food Additives, Resins, Others); End Use (Chemical, Pharmaceutical, Cosmetics & Personal Care, Food & Beverages, Inks & Dyes, Agrochemical, Others); Geography (North America, South America, Asia Pacific, Europe, the Middle East, Africa)
Key Vendors	Haihang Industry Co., Ltd.; Guangzhou Jiahua Chemical Co., Ltd.; Career Henan Chemical Co.; Tokyo Chemical Industry Co., Ltd.; Orochem Technologies Inc.
Key Countries	The US; Canada; Mexico; Brazil; Argentina; Colombia; Chile; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Turkey; UAE; Saudi Arabia; Egypt; South Africa
Largest Market	Asia Pacific

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Trends 

• Advancements in Biotechnology: Innovations in microbial fermentation processes are making the production of 2,3-butanediol more cost-effective, thereby boosting its commercial viability and adoption. 

• Growing Focus on Research and Development: Major investments in R&D are accelerating innovation in 2,3-butanediol applications. For instance, the collaboration between BASF and Genomatica is advancing the use of 2,3-butanediol in pharmaceuticals and bio-based polymers, significantly contributing to market expansion. 

• Expansion in Pharmaceutical Applications: With its potential as a chiral building block, the pharmaceutical industry is exploring 2,3-butanediol for synthesizing active pharmaceutical ingredients (APIs). 

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Catalysts 

• Growth in the Green Chemicals Sector: The global shift towards sustainability is accelerating the adoption of green chemicals, with 2,3-butanediol emerging as a pivotal compound. Its biodegradable properties and low toxicity make it an ideal choice for eco-friendly applications, aligning with the increasing demand for sustainable solutions across industries. 

• Increased Preference in the Cosmetics Industry: The growing preference for natural and eco-friendly ingredients in cosmetics has led to a surge in the use of 2,3-butanediol as a moisturizing agent, particularly in premium skincare products. 

• Rising Use in Bio-based Chemical Production: As industries shift towards sustainable practices, 2,3-Butanediol is being increasingly used in the production of bio-based chemicals, replacing traditional petrochemical-based products. 

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Restraints 

• High Production Costs: The production of 2,3-butanediol via microbial fermentation is still expensive compared to petrochemical-derived alternatives. For instance, companies like Genomatica have faced challenges in scaling up production due to the high costs associated with maintaining and optimizing fermentation processes, which limits the product’s competitiveness in the broader market. 

• Competition from Substitutes: The 2,3-butanediol market faces stiff competition from well-established and cheaper alternatives like propylene glycol and ethylene glycol. For example, Dow Chemical continues to dominate the market with its cost-effective production of propylene glycol, making it difficult for 2,3-butanediol to gain significant market share, especially in price-sensitive sectors. 

• Regulatory Hurdles: Strict regulatory requirements, particularly in the pharmaceutical and food industries, can delay the approval and commercialization of 2,3-butanediol-based products. For example, the lengthy and rigorous approval process by the FDA for new pharmaceutical ingredients has caused delays for companies trying to introduce 2,3-butanediol as a new active ingredient, hindering its market entry and growth. 

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Table of Contents

1.       Introduction         1.1.    Research Methodology         1.2.    Scope of the Study  2.       Market Overview / Executive Summary         2.1.    Global 2,3 Butanediol Market (2018 – 2022)         2.2.    Global 2,3 Butanediol Market (2023 – 2029)  3.       Market Segmentation         3.1.    Global 2,3 Butanediol Market by Chemical Structure                3.1.1.    2,3- Butanediol (2S, 3S)                3.1.2.    2,3- Butanediol (2R, 3R)                3.1.3.    Meso- 2,3-Butanediol (2R- 3S or 3R-2S)                3.1.4.    Others         3.2.    Global 2,3 Butanediol Market by Function                3.2.1.    Humectant                3.2.2.    Anti-freeze Agent                3.2.3.    Solvent                3.2.4.    Plant Growth Promoter                3.2.5.    Flavouring Agent                3.2.6.    Others         3.3.    Global 2,3 Butanediol Market by Application                3.3.1.    Fertilizers                3.3.2.    Plasticizers                3.3.3.    Printing Inks                3.3.4.    Perfumes                3.3.5.    Food Additives                3.3.6.    Resins                3.3.7.    Others         3.4.    Global 2,3 Butanediol Market by End Use                3.4.1.    Chemical                3.4.2.    Pharmaceutical                3.4.3.    Cosmetics & Personal Care                3.4.4.    Food & Beverages                3.4.5.    Inks & Dyes                3.4.6.    Agrochemical                3.4.7.    Others  4.       Regional Segmentation         4.1.    North America                4.1.1.    The US                4.1.2.    Canada                4.1.3.    Mexico         4.2.    South America                4.2.1.    Brazil                4.2.2.    Argentina                4.2.3.    Colombia                4.2.4.    Chile                4.2.5.    Rest of South America         4.3.    Asia Pacific                4.3.1.    China                4.3.2.    India                4.3.3.    Japan                4.3.4.    South Korea                4.3.5.    Rest of Asia Pacific         4.4.    Europe                4.4.1.    The UK                 4.4.2.    Germany                4.4.3.    Italy                4.4.4.    France                4.4.5.    Spain                4.4.6.    Rest of Europe         4.5.    The Middle East                4.5.1.    Turkey                4.5.2.    UAE                4.5.3.    Saudi Arabia                4.5.4.    Rest of the Middle East         4.6.    Africa                4.6.1.    Egypt                4.6.2.    South Africa                4.6.3.    Rest of Africa  5.       Value Chain Analysis of the Global 2,3 Butanediol Market  6.       Porter Five Forces Analysis         6.1.    Threats of New Entrants         6.2.    Threats of Substitutes         6.3.    Bargaining Power of Buyers         6.4.    Bargaining Power of Suppliers         6.5.    Competition in the Industry  7.       Trends, Drivers and Challenges Analysis         7.1.    Market Trends         7.1.1.    Market Trend 1         7.1.2.    Market Trend 2         7.1.3.    Market Trend 3         7.2.    Market Drivers         7.2.1.    Market Driver 1         7.2.2.    Market Driver 2         7.2.3.    Market Driver 3         7.3.    Market Challenges         7.3.1.    Market Challenge 1         7.3.2.    Market Challenge 2         7.3.3.    Market Challenge 3  8.       Opportunities Analysis         8.1.    Market Opportunity 1         8.2.    Market Opportunity 2         8.3.    Market Opportunity 3  9.       Competitive Landscape         9.1.    Haihang Industry Co., Ltd.         9.2.    Guangzhou Jiahua Chemical Co., Ltd.          9.3.    Career Henan Chemical Co.         9.4.    Tokyo Chemical Industry Co., Ltd.          9.5.    Orochem Technologies Inc.         9.6.    Company 6         9.7.    Company 7         9.8.    Company 8         9.9.    Company 9         9.10.  Company 10

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 2,3- Butanediol Market – FAQs 

1.  What is the current size of the 2,3- butanediol market? 

Ans. In 2024, the 2,3 butanediol market size is $248.38 Mn. 

2.  Who are the major vendors in the 2,3- butanediol market?  

Ans. The major vendors in the 2,3-butanediol market are Haihang Industry Co., Ltd.; Guangzhou Jiahua Chemical Co., Ltd.; Career Henan Chemical Co.; Tokyo Chemical Industry Co., Ltd.; Orochem Technologies Inc. 

3.  Which segments are covered under the 2,3 -butanediol market segments analysis?  

Ans. The 2,3-butanediol market report offers in-depth insights into Chemical Structure, Function, Application, End Use, and Geography.