Global 2,3-Butanediol Market to Rise at CAGR of 3.5% During Forecast Period, Observes TMR Study

ALBANY, N.Y., Feb. 1, 2022 /PRNewswire/ -- The global 2,3-butanediol market is anticipated to rise at a CAGR of 3.5% during the forecast period, from 2020 to 2030. The global market is predicted to be driven by increase in demand for rubbers such as chloroprene rubber, nitrile rubber, styrene–butadiene latex, and styrene–butadiene rubber in the tire industry, as 2,3-butanediol is converted into 1,3-butadiene, which is widely used in the manufacturing of different types of rubbers. ALBANY, N.Y...

ALBANY, N.Y., Feb. 1, 2022 /PRNewswire/ -- The global 2,3-butanediol market is anticipated to rise at a CAGR of 3.5% during the forecast period, from 2020 to 2030. The global market is predicted to be driven by increase in demand for rubbers such as chloroprene rubber, nitrile rubber, styrene–butadiene latex, and styrene–butadiene rubber in the tire industry, as 2,3-butanediol is converted into 1,3-butadiene, which is widely used in the manufacturing of different types of rubbers.

The precursor of methyl ethyl ketone is 2,3-butanediol (also known as MEK or 2-butanone). The demand for 2,3-Butanediol is expected to expand considerably in this field during the forecast period. Natural-source items are becoming increasingly popular across the world. Synthetic and petrochemical goods are being phased out in favor of items made by fermentation and biorefinery. 2,3-Butanediol (2,3-BD) is a high potential bulk chemical with a broad variety of possible uses.

For usage in the manufacturing of emollients and solvents, there is an increasing need for sustainable and bio-based 2,3-butanediol featuring odorless and colorless properties. Personal care and cosmetic products incorporate these solvents and emollients, which is expected to drive sales opportunities in the global 2,3-butanediol market.

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Global 2,3-Butanediol Market: Growth Drivers

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Global 2,3-Butanediol Market: Key Players

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Global 2,3-Butanediol Market: Segmentation

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