2,3-Butanediol Market Size And Forecast
2,3-Butanediol Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2020 to 2027.
The Global 2,3-Butanediol Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market is outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global 2,3-Butanediol Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
What are 2,3-Butanediol?
2, 3-Butanediol is a chemical isomer of butanediol. It is an organic compound with the chemical formula (CH₃CHOH) ₂. The 2R, 3R are the chemical stereoisomer of 2, 3-butanediol, produced by a different category of microorganisms, through the butanediol fermentation process. It is produced by anaerobic fermentation of glucose with 2, 3-butanediol as the end products. Currently, this chemical is produced through industrial methods and can also be achieved through the screening of natural microbial strains.
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2,3-butanediol has minimal toxicity and various industrial applications. It is used in the production of various derivatives, such as softening agents, plasticizers, polyester, drugs, and cosmetics. It is also used as anti-freeze agents and pesticides. Moreover, 2,3-butanediol also find extensive application in pharmaceutical, fragrances, and food industries.
Global 2,3-Butanediol Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
The increase in production of hydrocarbon fuels, growing demand from textiles, polymers, synthetic rubbers, and plastic, and government initiatives that aim to encourage the consumption of renewable and bio-based chemicals are anticipated to propel the market growth of global 2,3-butanediol market. The idea to use 2,3-butanediol as an alternative and ability to convert into methyl ethyl ketone (MEK) is likely to drive the demand for the forecast period. However, the excessive cost is the main factor limiting the commercial production of this product and hindering the overall market. The advancements in technologies, awareness among people and government initiatives in investing in manufacturing infrastructure offer favorable growth opportunities.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global 2,3-Butanediol Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
Global 2,3-Butanediol Market Competitive Landscape
The “Global 2,3-Butanediol Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as BAS, Dairen Chemical, Lyondellbasell, Ashland, Nanya Plastics Corporation, Mitsubishi Chemical Corporation, INVISTA, MarkorChem, Xinjiang Tianye, Changcheng Energy, and Others. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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2,3-Butanediol Market, By Type
• Content 90%-95%
• Content＞95%
• Others
2,3-Butanediol Market, By Application
• Intermediate Chemical
• Plastics
• Food-Additives
• Cosmetics
• Other
2,3-Butanediol Market, By Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Rest of the World
o Middle East & Africa
o Latin America
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