Asia-Pacific Gamma Butyrolactone Market, By Grade (Industrial Class (5 Wt. %), Electric Capacitance Class (9 Wt. %) and Common Class (8 Wt. %)), Purity (Min. 99.9% and Min. 99.7%), Application (Solvent, Casting Binder, Herbicides and Insecticides, Batteries and Capacitors, Paint Strippers, Polish Removers, Anesthetic, Sedative and Others), End-Use (Pharmaceutical Industry, Electrical Industry, Agrochemical Industry, Petroleum Industry, Food Industry and Others) - Industry Trends and Forecast to 2030.
Asia-Pacific Gamma Butyrolactone Market Analysis and Insights
The Asia-Pacific gamma butyrolactone market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 3.2% in the forecast period of 2023 to 2030 and is expected to reach USD 848,573.43 thousand by 2030.
The major factor driving the growth of gamma butyrolactone is the rising demand from the growing application of derived chemical products expected to drive the market growth.
The Asia-Pacific gamma butyrolactone market report provides details of market share, new developments and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue-impact solution to achieve your desired goal.
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customisable to 2020-2015)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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By Grade (Industrial Class (5 Wt. %), Electric Capacitance Class (9 Wt. %) and Common Class (8 Wt. %)), Purity (Min. 99.9% and Min. 99.7%), Application (Solvent, Casting Binder, Herbicides and Insecticides, Batteries and Capacitors, Paint Strippers, Polish Removers, Anesthetic, Sedative and Others), End-Use (Pharmaceutical Industry, Electrical Industry, Agrochemical Industry, Petroleum Industry, Food Industry and Others)
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Countries Covered
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Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand, Rest of Asia-Pacific
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Market Players Covered
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Zhejiang Realsun Chemical Co.,Ltd., Biosynth, BYN Chemical Co., Ltd, DCC, BASF SE, Ashland, Boai NKY Pharmaceuticals Ltd., Mitsubishi Chemical Corporation., Sipchem Company, BALAJI AMINES and others
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Market Definition
Gamma butyrolactone is a hygroscopic liquid with a ketone-like odor and a colorless, greasy and transparent appearance. It is also used as a precursor in manufacturing a number of chemical compounds. GBL is employed as an aesthetic and pacifier in the pharmaceutical business and for the production of interferon and ciprofloxacin.
Asia-Pacific Gamma Butyrolactone Market Dynamics
Drivers
- Growing application of derived chemical products
Chemicals play an important role in every aspect of day-to-day life. Everything around the world consists of chemicals. To manufacture such useful chemicals, raw materials are required. Every chemical has its different raw materials and chemical intermediates. The daily use products such as medicines, food items, cosmetics, personal care products, paints, fuels, electronics and many more are made up of chemical compounds, which are derived from one or more chemical raw materials. Favorable frameworks, an increase in foreign direct investment in developing economies, increased demand from consumers and strong competition among manufacturers of chemicals products are the driving forces behind the market growth of chemical products.
- Application in a wide range of industries
The growing economy, rise in the transportation sector and growth in infrastructure are a few of the crucial variables which have led to the growth of the petroleum industry. Gamma butyrolactone is one of the useful chemicals which is employed as an extractant in the processing of butadiene, aromatic and advanced grease petroleum. Other than the petroleum based industry, gamma butyrolactone is used in agrochemicals industries. Agrochemical products play an important role in increasing agricultural yields. Utilizing agrochemicals improves crop productivity, plant health and controls plant disease. Such agrochemicals are classified into herbicides, nematicides, fungicides, pesticides and soil conditioners. The chemical is used to produce organic agrochemicals such as herbicides, nematocides and pesticides. Along with it, gamma butyrolactone serves as a plant growth regulator and stabilizer for pesticides containing phosphorus and chlorohydrocarbons. Thus the high population, increasing food demand and awareness among farmers regarding the benefits of agrochemicals are the factor that leads to the agrochemical industry growth, thus driving the Asia-Pacific gamma butyrolactone market.
Opportunities
- Rise in demand for electric vehicles
Since there is a greater demand for electric vehicles globally, there are more of them on the road today and this trend will only continue. The need for electric vehicles has risen in the last several years due to greater public awareness of the need to reduce greenhouse gas emissions, the high cost of fuel and technological advancements. Electric vehicles available in the market are electric cars, buses, tractors, scooters, bikes, bicycles, personal transporters and many more. Such different types of electric vehicles attract consumers from different work areas, thus increasing demand and sales of electric vehicles.
- Increase in usage of organic agrochemicals
The machine or engines which is installed in the plants or automotive industry are done for a longer duration but are used on a regular basis, due to which the wear and tear of parts are more inside the engine. The seals products which are installed with the machine have to work under different pressure and temperature, which increases the wear and tear of the seals products. Several types of lubricants are used in the machinery, which involve different chemical compositions, which sometimes also affect the composition of sealing products.
Restraints/Challenges
- Serious health effects and safety concerns
Gamma butyrolactone is a well-known chemical having a wide range of applications. The chemical found its application in various industries such as pharmaceuticals, petroleum, agrochemicals, cosmetics and personal care products. It is also used as an intermediate in the production of various chemicals, such as polyvinylpyrrolidone, phenyl butyric acid and DL-methionine. Along with it, the chemical is used as a solvent for cellulose acetate, methyl methacrylate and other polymers.
Recent Developments
- According to the My Chemical Monitoring, the Australian Department of Health's delegate announces the plan to limit the use of gamma butyrolactone in cosmetics and other items
Asia-Pacific Gamma Butyrolactone Market Scope and Market Size
The Asia-Pacific gamma butyrolactone market is categorized into grade, application, purity and end-use. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Grade
- Industrial Class (5 Wt. %)
- Common Class (8 Wt.%)
- Electric Capacitance Class (9 Wt.%)
On the basis of grade, the market is segmented into industrial class (5 wt. %), common class (8 wt. %) and electric capacitance class (9 wt. %)
Purity
- Min. 99.9%
- Min. 99.7%
On the basis of purity, the market is segmented into min. 99.7% and min. 99.9%.
Application
- Solvent
- Casting Binder
- Herbicides and Insecticides
- Batteries and Capacitors
- Paint Strippers
- Polish Removers
- Anesthetic
- Sedative
- Others
On the basis of application, the market is segmented into solvent, casting binder, herbicides and insecticides, batteries and capacitors, paint strippers, polish removers, anesthetic, sedative and others.
End Use
- Pharmaceutical Industry
- Electrical Industry
- Agrochemical Industry
- Petroleum Industry
- Food Industry
- Others
On the basis of end use, the market is segmented into the pharmaceutical industry, electrical industry, agrochemical industry, petroleum industry, food industry and others.
Asia-Pacific Gamma Butyrolactone Market Regional/Country Level Analysis
The Asia-Pacific gamma butyrolactone market is analyzed and market size information is provided by country, grade, purity, application and end-use, as referenced above.
The countries covered in the Asia-Pacific gamma butyrolactone market are Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand, Rest of Asia-Pacific.
China is expected to lead the Asia-Pacific gamma butyrolactone market due to the rising use of gamma butyrolactone in the cosmetic industry for various applications such as nail polish removers.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Gamma Butyrolactone Market Share Analysis
Asia-Pacific gamma butyrolactone market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company's focus related to the Asia-Pacific gamma butyrolactone market.
Some of the major players covered in the report are Zhejiang Realsun Chemical Co.,Ltd., Biosynth, BYN Chemical Co., Ltd, DCC, BASF SE, Ashland, Boai NKY Pharmaceuticals Ltd., Mitsubishi Chemical Corporation., Sipchem Company, BALAJI AMINES, and others.
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