1, 2 Pentanediol Market Size, Industry Share & Trends | 2031

Report Description

Market Outlook:

The Global 1, 2 Pentanediol Market was estimated at USD 184.9 Million in 2022 and is anticipated to reach USD 325.2 Million by 2031, expanding at a CAGR of 6.6% during the forecast period.

1,2 Pentanediol is a colorless or yellowish liquid with a strong odor. 1,2 Pentanediol is water miscible. It is employed as an intermediate chemical in the manufacturing of active substances. 1,2-Pentanediol is used as an agricultural intermediate as well as a component in personal care and cosmetics products.

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1, 2 Pentanediol is a multifunctional agent with good fungistatic and biostatic properties. It has a broad-spectrum antibacterial activity. 1,2-Pentanediol is also known as Pentylene Glycol. It is a diol chemical compound, which means it includes two hydroxyl (OH) groups. Pentylene Glycol is a humectant, which means it attracts and retains water that helps to keep items moisturized. It is also utilized as a solvent, as it dissolves in other substances and enhances the quality of product texture. It also possesses antibacterial qualities, which aid in the protection of products against fungal and bacterial growth.

Macro-economic Factors

Consumer Spending (GDP)

Gross domestic product (GDP) is the entire financial or market valuable of all finished services and goods manufactured within a country's borders in a particular period of time. It serves as an adequate scorecard of a country's economic health, as it is a vast measure of complete domestic production. In 2021, the yearly expenditure on perfume, bath preparation items, and cosmetics in the US was around USD 182.3 per consumer unit.

Many personal care & cosmetic products are made from 1,2 Pentanediol. The increasing sale of personal care & cosmetics products is increasing the demand for 1,2 Pentanediol. 1,2 Pentanediol is used in chemical manufacturing. The chemical industry in the US accounts for more than a quarter of the country's GDP, and supports the production of nearly all commercial and domestic items, and is critical to economic growth.

Raw Material Prices

Raw materials are needed for manufacturing products. Thus, these resources are an essential component of the global economy and international trade. Raw material inventory is critical for small and large businesses to ensure production process stability. When inventory is not well controlled, the production process encounters issues. This results in an unstable production process, which impacts the company's finances.

1,2 Pentanediol is manufactured by various methods. For example, it is manufactured from furfural, which is a key raw material in the manufacturing process, which consumes a large number of raw materials and energy. The cost associated with the raw materials is high, which results in raw material shortage. Such a condition impacts the marketing and customer supply; an inconsistent manufacturing process results in an unstable product supply in the market. Controlling and maintaining raw material inventory to ensure that consumers' needs are satisfied.

Market Dynamics

Market Driver- Increasing Demand for 1,2 Pentanediol in the Cosmetics & Personal Care Industry

1,2 Pentanediol is a synthetic humectant that is primarily utilized as a preservative and solvent in cosmetics and beauty products. It has the ability to bind moisture and has antibacterial properties. It is soluble in both water and oil. The ability of 1,2 pentanediol to draw in and hold moisture makes it valued in the personal care industry. It helps to hydrate the skin, prevent dryness, and enhance the overall texture of skincare and cosmetic products, including lotions, creams, moisturizers, and serums. The demand for 1,2 pentanediol is rising along with the demand for effective moisturizing compounds across the globe. 1,2 pentanediol serves as a solvent and co-solvent in formulations for personal care products.

It contributes to the overall performance and stability of the products by aiding in the dissolving and stabilizing of ingredients. 1,2 pentanediol helps to create effective skincare and cosmetic formulations including serums, toners, and liquid-based products by enhancing the solubility of the active ingredients. Rising demand for face creams, sunscreens, and body lotions globally is positively affecting 1,2 pentanediol market expansion throughout the forecast period. 1,2 Pentanediol is also used primarily in anti-aging products. These include face masks created specifically for aged skin, day & night creams, eye & sun creams, and others. In 2020, a Real Self-survey found that 62% of the US citizens included anti-aging products in their regular skincare routine. China is one of the major producers and consumers of anti-aging, skin-lightening, and sun care products, and it also contributes significantly to the expansion of the global cosmetics and skincare industry. The World Health Organization (WHO) predicts that by 2040, 28% of China population is expected to be over 60 years of age as a result of rising life expectancy and falling birth rates. This factor is driving the demand for 1,2 pentanediol in the country.

Market Driver- Wide Application of 1,2 Pentanediol in Various Industries

1,2 pentanediol is used in various industries such as pharmaceuticals, industrial & specialty chemicals, agrochemicals, paints & ink, and others. 1,2 pentanediol is used as a solvent, preservative, and coupling agent in pharmaceutical formulations. it is used in a variety of topical and transdermal formulations, injectable formulations, oral liquid formulations, eye & ear preparations, and others. 1,2 Pentanediol serves as an intermediate or precursor for the synthesis of various industrial & specialty chemicals.

1,2 pentanediol is also one of the important raw materials for the production of polyester fibers, surfactants, and others. In the agrochemicals industry, 1,2 pentanediol is used as a raw material in manufacturing a fungicide called Propiconazole. 1,2 pentanediol is used in various cleaning products, due to its solvent properties and ability to enhance cleaning performance. It is commonly used in surface cleaners, disinfectants & sanitizers, industrial & institutional cleaners, specialty cleaners, and others. It is also used in air care products, polishes, wax blends, and printing inks & toners. Hence, these various applications in different industries drive the demand for the 1,2 pentanediol market.

Market Restraint- Fluctuating Prices of Raw Materials

Synthetically produced 1,2 Pentanediol is made from natural gas and crude oil. Changes in the price of crude oil have a direct influence on the price of the raw materials, as petroleum feedstocks can be used to produce synthetic 1,2 Pentanediol. According to the U.S. Energy Information Administration (EIA), the nominal price of Brent crude oil is expected to reach USD 67/barrel by 2025.

Global demand is predicted to push Brent prices to USD 79 per barrel by 2030. Prices are anticipated to reach $84/barrel by 2040. The cheap oil sources are expected to have run out by 2040, increasing the cost of oil extraction. Oil is anticipated to cost USD 90 per barrel by 2050. Hence, the price of synthetic 1,2 pentanediol has an impact, as the price of crude oil fluctuates. High prices restrict the demand for 1,2 pentanediol, as consumers seek alternative products or suppliers that offer competitive pricing..

Scope of the Report  

The report on the Global 1, 2 Pentanediol Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Segmental Outlook

Based on purity type, the global 1, 2 Pentanediol market is segmented Less Than 99% and 99% & Above. 99% & Above segment held a major share of the market and is expected to expand at a CAGR of XX%. It is the commonly used purity level for cosmetics, skincare, pharmaceuticals, and personal care products. The ingredient's high purity level guarantees that it is free of contaminants, which compromise the stability and safety of the finished product.

There is a rising demand for pentanediol with purity levels of 99% & above in the personal care and cosmetics industries.

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Based on application, the global 1, 2 Pentanediol market is segmented into chemical synthesis, agrochemicals production, personal care and cosmetics products, air care products, polishes, wax blends, others. This is due to growing concerns of customers about appearance is contributing to the growth of the market. Millennials use personal care and cosmetic products such as skin care products, color cosmetics, and hair care on a daily basis.

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Based on the end-use industry, the market is categorized as chemical, agrochemical, personal care and cosmetic, others. The personal care and cosmetic is expected to hold a major share of the market. This is because 1, 2 pentanediol is a multipurpose cosmetic ingredient with antibacterial, humectant, and moisturizing properties, and is utilized in skincare products.

Growing consciousness of consumers about their appearance is one of the key factors fueling the market. Among millennials, beauty and personal care products including skin care, makeup, and hair care, are an essential component of daily grooming. Demand for 1, 2 pentanediol is driven by rising investments in the production of novel and competitive personal care and cosmetic products.

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Based on the distribution channels, the market is categorized as online, and offline. The offline is expected to hold a major share of the market. This is because wholesalers/distributors purchase goods in significant quantities and conduct business-to-business distribution of chemicals. These wholesalers have multiple distribution centers or warehouses to serve their customers efficiently.

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Regional Outlook

On the basis of regions, the global 1, 2 Pentanediol market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Europe held XX% of the market share in 2022, due to the high health awareness among consumers boosting the demand for natural green bio-based personal care products. This, in turn, is fueling the 1, 2 Pentanediol market. 1, 2 Pentanediol market in these countries. Increasing demand for agricultural products and the resultant commercialization of agriculture have induced a rising use of agricultural chemicals in the region, which in drives the market.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global 1, 2 Pentanediol Market

• Historical, Current, and Projected Market Size in terms of Value

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players