Gamma butyrolactone (GBL) Market
Gamma-Butyrolactone (GBL) Market, By purity, (Industrial Class (5 wt. %), Common Class (8 wt. %), Electric Capacitance Class (9 wt. %), By Applications, (Agrochemical, Electrical, Food, Pharmaceutical, Petroleum) & By Region - Global Market Insights 2022 to 2032
Analysis of Gamma butyrolactone (GBL) Market Covering 30 + Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Gamma butyrolactone (GBL) Market Outlook (2022 to 2032)
Gamma-Butyrolactone is a hygroscopic liquid that has an odor similar to a ketone and is colorless, greasy, and transparent. It also acts as a precursor involved in the production of a variety of chemical products. In the pharmaceutical industry, GBL is used as an aesthetic and pacifier, as well as for producing interferon and ciprofloxacin.
Apart from capacitors, batteries, and photographic films, it is used extensively in agricultural and forestry applications. GBL also functions as an extracting, antioxidant, dispersion agent, absorbent, and coagulating agent which leads to the expansion of the market in the forecast period.
The global Gamma butyrolactone market size is USD 3614.07 Million in 2022. The market is further expected to cross a valuation of USD 4904.37 Million by end of 2032. The alongside market is anticipated to grow with a CAGR of 3.1% in the forecast duration. The report refers to an assessment period of a decade from 2022 to 2032.
This comprehensive report on gamma-butyrolactone is intended to provide readers with a complete understanding of the dynamics in the global gamma-butyrolactone market. The report also provides several decision-support frameworks that can help stakeholders of the gamma-butyrolactone industry to take data-driven decisions on growth, expansion, acquisition, and capacity addition.
| Report Attributes | Details |
|---|---|
| Market size (2022A) | USD 3614.07 Million |
| Base Year for Estimation | 2022 |
| Forecast duration for this research | 2022 to 2032 |
| Forecasted Market value (2032F) | USD 4904.37 Million |
| Global Market Growth rate (2022 to 2032E) | CAGR of 3.1% |
| Key Companies Profiled | BASF; Boai NKY; Realsun Chemical; Binzhou Yuneng Chemical; Lutianhua Group; Xuchang Ruida Biology Technology; Jinlong Chemical; Changxin Chemical; Mitsubishi Chemical; Ruian Chemical |
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What propels the growth of Gamma-Butyrolactone?
Tetrahydrofuran, the principal derivate of gamma-butyrolactone, consumes more than half of all gamma-butyrolactone produced globally. GBL is also used as a precursor in producing herbicides, and as a plant growth regulator. It is also used for the manufacturing of rubber, and cosmetics and has its uses in the dye industry as well.
Because of its properties like low freezing point, high boiling point, electrical properties, and unique mixture of solvents, GBL has a wide set of practical applications. GBL has been found in the extract from pure wine samples and could also be found in comparable goods. The concentration detected approximately 5 units and was easily identified using a simple extraction process.
In addition to this, it is used for dispersion and finishing agents in the photography sector. Not only this, it is used as raw material for the production of the solvents like Polyvinyl pyrrolidone (PVP) which is used for cosmetics, medical products, dyeing agents, adhesive thickening agents, etc. Growing end-use industries are set to propel the demand.
Owing these applications in various industries will lead to driving the market. Furthermore, Because of rapid industrialization, the economic condition of developed countries is improving during the forecast period, which is expected to boost demand.
What are some Restraints associated with the Gamma-butyrolactone market?
There are side effects of gamma-butyrolactone that can deter the growth of the market. There are various adverse reactions which include vomiting, fecal incontinence, and respiratory depression. There is the scope that many applications of gamma-butyrolactone may hamper growth in the longer term. Almost every country has legal standards regulating the use of gamma-butyrolactone where companies may find difficulties in operating which also discourages the incoming investment in this sector.
“Covid-19 impact: sluggish supply chain to deter manufacturing”
The outbreak of the pandemic has hampered the demand for gamma-butyrolactone owing to the persistent lockdown and restrictions on travel. The manufacturers faced a turn offs and there was a consistent gap in supply and demand resulting in disruption. The tier1 and tier 2 manufacturers in the field of gamma-butyrolactone faced supply chain issues owing to the pandemic.
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Segment Wise Insights
Industrial-grade gamma-butyrolactone has various applications in different industries which includes the textile industry in which it is used as a fiber spinning solvent and anti-static reagent. It also acts as an antioxidant in the resin industry as well as it is also used in the preparation of medicines to absorb alkyne. Sales for the product have witnessed a significant impact due to COVID-19. As the industries remained shut down, the demand for the product witnessed a dip from various industries. However, the demand for GBL remained constant in the healthcare sector.
Common Grade gamma-butyrolactone is widely used in the production of insecticides in the agrochemical industry. Along with this, it is used as a plant growth regulator. The common grade GBL is also used as a precursor for the formulation of various medications in the pharmaceutical industry.
Electric grade GBL is used in the fabrication of capacitors and in electric batteries as an electrolytic solution. In the medical sector, it is also used as a sedative and anesthetic. Growing traction for the product to launch the market at greater heights.
Competitive landscape
Major industry players are adopting inorganic and organic business strategies. These companies are determined to form mergers and ventures for increasing their geographical expansion. These players are manifesting the competition in form of business innovation and started to invest more in research.
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Competitive landscape highlights only certain players
Complete list available upon request
Regional Outlook
“The Asia Pacific led by China is the leading manufacturer”
China, the world’s leading manufacturer, has a wide market in the region. Due to the expansion in the pharmaceutical, and agrochemical industries in the country, the demand is expected to rise owing to the increase in consumption.
The growth in the manufacturing of Spandex, which is utilized in the textile industry, has boosted the market in recent years. In China, the rise in demand for polytramethylether glycol, a derivative of GBL has resulted in an increase in sales indeed propelling the market to reach greater heights.
Changing trade agreements are expected to benefit demand, as a result, the sector will witness Greenfield investments. Growing urbanization and industrialization coupled with the country’s high population could be key drivers.
“North America dominated demand for Gamma-Butyrolactone”
In terms of regional growth, production in North America is likely to increase at a steady rate. With the rise in the demand of the petroleum industry in the region, the sale will propel at a promising rate as gamma-butyrolactone acts as an extracting agent in the petroleum industry. The development of abundant oil and unconventional natural gas resources creates a historic opportunity to enhance economic growth in North America.
Furthermore, the consumer electronics business in North America is mostly mature owing to the country being technologically advanced. The trend of smart offices and smart homes being on a highly positive note, consumer electronics such as TVs, smart refrigerators, small air conditioners, etc. are set to witness huge growth in sales, leading the GBL market to tramp on the same trend and boost the market.
Key Segments
-
By Purity:
- Industrial Class (5 wt. %)
- Common Class (8 wt. %)
- Electric Capacitance Class (9 wt. %)
-
By Applications:
- Agrochemical industry
- Electrical industry
- Food industry
- Pharmaceutical industry
- Petroleum industry
- Others
-
By Region:
- North America
- US & Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- France
- Italy
- Spain
- U.K.
- Benelux
- Russia
- Rest of Europe
- East Asia
- China
- Japan
- South Korea
- South Asia
- India
- Thailand
- Malaysia
- Indonesia
- Rest of South Asia
- Oceania
- Australia and New Zealand
- Middle East and Africa
- GCC Countries
- Turkey
- South Africa
- Rest of Middle East & Africa
- North America
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 6.1. Purity
- 6.2. Applications
- 7. Global Market Analysis and Forecast, By Purity
- 7.1. Industrial Class (5 wt. %)
- 7.2. Common Class (8 wt. %)
- 7.3. Electric Capacitance Class (9 wt. %)
- 8. Global Market Analysis and Forecast, By Applications
- 8.1. Agrochemical industry
- 8.2. Electrical industry
- 8.3. Food industry
- 8.4. Pharmaceutical industry
- 8.5. Petroleum industry
- 8.6. Others
- 9. Global Market Analysis and Forecast, By Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Western Europe
- 9.4. Eastern Europe
- 9.5. East Asia
- 9.6. South Asia & Pacific
- 9.7. MEA
- 10. North America Sales Analysis and Forecast, by Key Segments and Countries
- 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 15. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 16. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 17. Sales Forecast by Purity and Applications for 30 Countries
- 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 19. Company Profile
- 19.1. BASF
- 19.2. Boai NKY
- 19.3. Realsun Chemical
- 19.4. Binzhou Yuneng Chemical
- 19.5. Lutianhua Group
- 19.6. Xuchang Ruida Biology Technology
- 19.7. Jinlong Chemical
- 19.8. Changxin Chemical
- 19.9. Mitsubishi Chemical
- 19.10. Ruian Chemical
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List Of Table
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by Purity
Table 3: Global Market US$ Mn Forecast by Applications
Table 4: North America Market US$ Mn Forecast by Country
Table 5: North America Market US$ Mn Forecast by Purity
Table 6: North America Market US$ Mn Forecast by Applications
Table 7: Latin America Market US$ Mn Forecast by Country
Table 8: Latin America Market US$ Mn Forecast by Purity
Table 9: Latin America Market US$ Mn Forecast by Applications
Table 10: Western Europe Market US$ Mn Forecast by Country
Table 11: Western Europe Market US$ Mn Forecast by Purity
Table 12: Western Europe Market US$ Mn Forecast by Applications
Table 13: Eastern Europe Market US$ Mn Forecast by Country
Table 14: Eastern Europe Market US$ Mn Forecast by Purity
Table 15: Eastern Europe Market US$ Mn Forecast by Applications
Table 16: East Asia Market US$ Mn Forecast by Country
Table 17: East Asia Market US$ Mn Forecast by Purity
Table 18: East Asia Market US$ Mn Forecast by Applications
Table 19: South Asia & Pacific Market US$ Mn Forecast by Country
Table 20: South Asia & Pacific Market US$ Mn Forecast by Purity
Table 21: South Asia & Pacific Market US$ Mn Forecast by Applications
Table 22: MEA Market US$ Mn Forecast by Country
Table 23: MEA Market US$ Mn Forecast by Purity
Table 24: MEA Market US$ Mn Forecast by Applications
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Purity
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Applications
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 4: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Purity
Figure 5: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Applications
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 7: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Purity
Figure 8: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Applications
Figure 9: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 10: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Purity
Figure 11: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Applications
Figure 12: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Purity
Figure 14: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Applications
Figure 15: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 16: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Purity
Figure 17: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Applications
Figure 18: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 19: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Purity
Figure 20: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Applications
Figure 21: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 22: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Purity
Figure 23: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Applications
Figure 24: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
Who are major players operating into Gamma Butyrolactone market?
Key players operating in the market include: • BASF • Boai NKY • Realsun Chemical • Changxin Chemical • Mitsubishi Chemical • Ruian Chemical, Ashland • LyondellBasell • Puyang Guangming Chemicals • Binzhou Yuneng Chemical
What will be the Gamma butyrolactone Market value in the future?
The market is expected to cross a valuation of USD 4904.37 Million by end of 2032.
What is the current gamma butyrolactone market valuation?
The alongside market is anticipated to grow with a CAGR of 3.1% in the forecast duration.
Which region dominates the demand for gamma-butyrolactone market share?
North America dominates the demand for the gamma-butyrolactone market.
Which region is emerging as the largest manufacturer of gamma-butyrolactone?
China in the Asia pacific is the biggest manufacturer of gamma-butyrolactone.
Gamma butyrolactone (GBL) Market