The 1,3-Propanediol Market size is projected
to reach USD 870 million by 2024 from the estimated USD 490 million in 2019, at
a CAGR of 12.2% between 2019 and 2024. 1,3-propanediol (PDO) is a key
feedstock in the manufacture of polytrimethylene terephthalate (PTT).
It can be used as a substitute to petrochemical-based
products such as propylene glycol, butylene glycol, and glycerin in the
formulation of cosmetics, personal care, laundry, and cleaning products. The
demand for environmentally-friendly products has increased the utilization of
bio-based PDO.
Based on application, the 1,3-propanediol market is
segmented into polytrimethylene terephthalate (PTT); polyurethane (PU);
cosmetics, personal care, and cleaning products; and others. The others segment comprises engine
coolants, food & beverage, pharmaceutical & dietary supplement,
de-icing fluid, heat transfer fluid, and unsaturated polyester resins.
PTT application accounted for the largest share of
the market in 2018. This is because of the growing demand for PTT in carpet and
apparel applications. 1,3-propanediol is the main feedstock in the manufacture
of PTT.
The Americas is estimated to be the largest market
for 1,3-propanediol during the forecast period. This is due to the presence of
the largest manufacturer of 1,3-propanediol, DuPont Tate & Lyle Bio
Products Company, LLC (US), in the region.
There is increasing awareness about the need to reduce
GHG emissions and growing demand for a sustainable product, which drives the consumption
of 1,3-propanediol in the region. The major applications of 1,3-propanediol in
the region are cosmetics, personal care & cleaning products, PTT, PU, and
de-icing fluids.
DuPont Tate
& Lyle Bio Products Company, LLC (US), Zouping Mingxing Chemical Co., Ltd.
(China), Zhangjiagang Glory Biomaterial Co., Ltd. (China), Hunan Rivers
Bioengineering Co., Ltd. (China), Haihang Industry Company Ltd. (China), Tokyo
Chemical Industry Co., Ltd. (Japan), Merck KGgA (Germany), and Zhangjiagang
Huamei Biomaterial Co., Ltd. (China) are the leading manufacturers of
1,3-propanediol.
These players are focusing on innovation to cater
to the specific demands of end users. They have also adopted the strategy of partnership
and expansion to increase their market reach, enhance their product portfolio,
and strengthen their market positions.
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