The gamma butyrolactone (GBL) market boasts a range of applications. It serves as a vital precursor in the chemical industry, contributing to the synthesis of various compounds. GBL is used in pharmaceuticals, particularly as a solvent. It finds applications in the electronics and automotive sectors due to its excellent solvent properties. Furthermore, it has industrial applications in paint stripping and cleaning processes. GBL is also known for its recreational use. Its features include high solvency, low toxicity, and versatility, making it indispensable across multiple industries.
Access Full Report @ https://www.databridgemarketresearch.com/reports/global-gamma-butyrolactone-market
Data Bridge Market Research analyses that the Global Gamma Butyrolactone Market, which was USD 10,35,708 thousand in 2022, is expected to reach 1,322,228.38 thousand by 2030 and is expected to undergo a CAGR of 3.1% during the forecast period of 2023-2030. Gamma butyrolactone (GBL) serves as a versatile solvent in pharmaceutical manufacturing, aiding in the dissolution and formulation of drugs. Its role in drug synthesis and as a pharmaceutical-grade solvent supports the industry's need for efficient and high-quality pharmaceutical production processes, driving its demand.
Key Findings of the Study
Chemical manufacturing is expected to drive the market's growth rate
Gamma butyrolactone (GBL) plays a pivotal role as a precursor in the chemical industry. Its chemical versatility allows it to be transformed into various valuable compounds, such as pharmaceuticals, plastics, and solvents. Manufacturers utilize GBL to synthesize polyesters, polyurethanes, and other polymers, contributing to a wide range of industrial products. This adaptability and utility as a building block in chemical synthesis fuel its demand within the chemical industry, making GBL a crucial component in the production of diverse chemical compounds.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015-2020)
|
|
Quantitative Units
|
Revenue in USD Thousand, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
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)
|
|
Countries Covered
|
U.S., Canada, Mexico, U.K., Italy, France, Spain, Russia, Switzerland, Turkey, Belgium, Luxemburg, Netherlands, Rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel and the Rest of the Middle East and Africa audi Arabia, U.A.E., Bahrain, Qatar, Kuwait, Oman, and Rest of Middle East.
|
|
Market Players Covered
|
Zhejiang Realsun Chemical Co., Ltd. (China), Biosynth (Switzerland), BYN Chemical Co., Ltd (China), DCC (Ireland), BASF SE (Germany), Ashland (United States), Boai NKY Pharmaceuticals Ltd. (China), Mitsubishi Chemical Corporation (Japan), Sipchem Company (Saudi Arabia), BALAJI AMINES (India)
|
|
Data Points Covered in the Report
|
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
|
Segment Analysis:
The global gamma butyrolactone market is categorized into grade, application, purity, and end-use.
- On the basis of grade, the market is segmented into industrial class (5 wt. %), common class (8 wt. %), and electric capacitance class (9 wt. %).
- On the basis of purity, the market is segmented into min. 99.7% and min. 99.9%.
- 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.
- On the basis of end-use, the market is segmented into the pharmaceutical industry, electrical industry, agrochemical industry, petroleum industry, food industry, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the major global gamma butyrolactone market players in global gamma butyrolactone market are Zhejiang Realsun Chemical Co., Ltd. (China), Biosynth (Switzerland), BYN Chemical Co., Ltd (China), DCC (Ireland), BASF SE (Germany), Ashland (United States), Boai NKY Pharmaceuticals Ltd. (China).
Market Development
- As per My Chemical Monitoring, the Australian Department of Health's delegate has unveiled a strategy to restrict the utilization of gamma butyrolactone (GBL) in cosmetics and various consumer products. This action is taken to address safety concerns and potential health risks associated with GBL. By imposing limitations on its usage, the department aims to ensure the safety and well-being of consumers and minimize the presence of GBL in products available in the Australian market.
Regional Analysis
Geographically, the countries covered in the major global gamma butyrolactone market report are U.S., Canada, Mexico, U.K., Italy, France, Spain, Russia, Switzerland, Turkey, Belgium, Luxemburg, Netherlands, Rest of Europe, Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel and the Rest of the Middle East and Africa audi Arabia, U.A.E., Bahrain, Qatar, Kuwait, Oman, and Rest of Middle East..
As per Data Bridge Market Research analysis:
Asia-Pacific is expected to dominate the global gamma butyrolactone market during the forecast period 2023 - 2030
Asia-Pacific is expected to dominate the global gamma butyrolactone market, primarily driven by the increasing utilization of chemical products derived from gamma butyrolactone. This growth is a result of the rising demand and application of various chemical compounds derived from gamma butyrolactone, positioning the Asia-Pacific region as a dominant player in this market on a global scale.
For more detailed information about the global gamma butyrolactone market report, click here – https://www.databridgemarketresearch.com/reports/global-gamma-butyrolactone-market
