The 1, 3-propanediol Market size is projected to reach USD 690.6 million by 2025 from USD 401.7 million in 2020, at a CAGR of 11.4%. 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.
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Polytrimethylene
terephthalate (PTT) application is the largest consumer of 1,3-propanediol.
Polytrimethylene terephthalate (PTT) is estimated to
be the largest application of 1,3-propanediol during the forecast period. The
demand for PTT is growing in apparel and textiles. The growth of the global
textiles and apparel industries is expected to play an important role in
augmenting the demand for PTT, which in turn, is expected to bolster the sales
of 1,3-propanediol as it is the primary feedstock for PTT. The manufacture of
bio-based PTT uses less energy and releases less greenhouse gas compared to
nylon 6 and nylon 6,6.
Americas is estimated to be the largest market for
1,3-propanediol during the forecast period.
The Americas is the largest 1,3-propanediol market
and is expected to continue its dominance during the forecast period. The
market is primarily driven by increasing production and consumption of
1,3-propanediol in PTT, cosmetics, personal care & cleaning products, and
polyurethane applications. Also, the presence of DuPont Tate & Lyle
Bio Products Company, LLC, the largest manufacturer of bio-based
1,3-propanediol in the region, is driving the market.
The key market players profiled in the report
include DuPont Tate & Lyle Bio Products Company, LLC (US), Zhangjiagang
Glory Biomaterial Co., Ltd. (China), Zouping Mingxing Chemical Co., Ltd.
(China), Haihang Industry Company Ltd. (China), Merck KGgA (Germany), Tokyo
Chemical Industry Co., Ltd. (Japan), METabolic EXplorer (France), and Sheng
Hong Group Holdings Ltd. (China).
Read More Insights: https://www.prnewswire.com/news-releases/1-3-propanediol-market-worth-691-million-by-2025--exclusive-report-by-marketsandmarkets-301108288.html
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