“1,3-Propanediol (PDO) Market by Application (Polytrimethylene Terephthalate [PTT], Cosmetics, Personal Care & Cleaning Products, Polyurethane [PU]) and Region (Americas, APAC, Europe, Middle East & Africa [EMEA]) - Global Forecast to 2025”
MarketsandMarkets: The global 1,3-propanediol
market size is projected to reach USD 691 million by 2025, at a CAGR of 11.4%
from USD 402 million in 2020.
Growing demand for bio-based products to lower greenhouse gas
emissions and energy consumption and increasing use in resin applications is
expected to drive the 1,3-propanediol market. Also, the growing demand for PTT
in apparel and carpets is estimated to boost the growth of the 1,3-propanediol
industry.
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DuPont Tate & Lyle Bio Products Company, LLC,
is the largest manufacturer of 1,3-propanediol. The company focusses on
expansions, innovations, and partnerships to strengthen its position in the
market. For instance, in October 2018, the company opened a warehouse and distribution
center at its manufacturing site in Loudon, Tennessee, US. It focuses on
increasing its production capacity to meet the growing demand for
1,3-propanediol in different applications. The company announced to increase
its production capacity by 35 million pounds in March 2018. In the recent
past, the company entered into a partnership with L.V. Lomas Ltd. (Canada)
(which is renamed as IMCD Canada Ltd.) to distribute Zemea propanediol in
Canada. The company has a strong distribution network, and its product is
available in many countries such as the US, Mexico, Italy, Greece, Poland,
Turkey, Sweden, Denmark, Russia, Estonia, Norway, India, and Brazil. In October
2017, DuPont (US), INVISTA (US), and DuPont Tate & Lyle Bio Products
Company, LLC entered into a partnership to develop a series of innovative and
enhanced sustainable textile solutions for workwear and outdoor wear.
Another player in the market is Zhangjiagang Glory
Biomaterial Co., Ltd. (China), which focuses on increasing the production capacity
of 1,3-propanediol. The company started the 1,3-propanediol program in 2011.
The company plans to combine the 1,3-propanediol plant and PTT plant
organically so that it can increase its profit.
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“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).
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.
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