Global 1,3 Propanediol Market Size study & Forecast, by Source (Bio-Based PDO, Petrochemical-Based PDO), by Application (Polytrimethylene Terephthalate (PTT), Polyurethane (PU), Personal Care & Detergents, Others) and Regional Analysis, 2022-2029

Global 1,3 Propanediol Market Size study & Forecast, by Source (Bio-Based PDO, Petrochemical-Based PDO), by Application (Polytrimethylene Terephthalate (PTT), Polyurethane (PU), Personal Care & Detergents, Others) and Regional Analysis, 2022-2029

Global 1,3 Propanediol Market is valued at approximately USD 375.1 million in 2021 and is anticipated to grow with a healthy growth rate of more than 8.8% over the forecast period 2022-2029. 1,3-Propanediol CH₂(CH₂OH) ₂ is the organic compound that is created with bio-based routes or petrochemical. This is a colourless viscous liquid that is soluble in water. 1,3 Propanediol is gaining high traction in various applications such as Polytrimethylene Terephthalate (PTT), Polyurethane (PU), personal care & detergents, and many others. Factors such as rising demand for environment-friendly, bio-based products, growing usage in resin applications, and increasing demand for PTT are driving the market demand across the globe.

The rising utilization of 1,3 propanediol in the production of cosmetics because of its effectiveness and low cost as a moisturizer, it also encourages water retention in the skin. According to a Statista report, the global market for cosmetics was valued at USD 80,737 million in 2021. Additionally, it is anticipated that the sum increased and reach USD 131,041 million by 2026. Therefore, the surging demand for cosmetics products is propelling the adoption of 1,3 propanediol, which, in turn, accelerates the market expansion in the global market. Furthermore, the increasing number of R&D activities and genetically engineered microorganisms for glycerol fermentation are leveraging various growth opportunities in the forthcoming years. However, the availability of substitutes at comparatively lower costs and lack of awareness about the benefits of 1,3-propanediol in industrial applications are hindering market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global 1,3 Propanediol Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rise in consumer spending, increasing use of bio-based products, and the presence of chief market players. Whereas, Asia Pacific is expected to grow at the highest CAGR during the forecast period. Factors such as rising demand for cosmetics and personal care products, growth of the textile industry, as well as rising demand for PTT in the emerging end-use industries are burgeoning the market growth in the forecasting years.

Major market players included in this report are:
DuPont
Metabolic Explorer SA
Zhangjiagang Glory Biomaterial Co., Ltd.
Zouping Mingxing Chemical Co., Ltd.
Shell Chemicals LP
Merck KGaA
Tokyo Chemical Industry Co., Ltd.
Shenghong Group Holdings
Primient Covation LLC
Haihang Industry Co. Ltd.

Recent Developments in the Market:
 In May 2019, DuPont Tate & Lyle Bio Products Company, LLC (US), ACT Solutions Corp (US), Corbion (Netherlands), and INOLEX Inc. (US) entered into a collaborative agreement to form a new bio-based content formulation for personal care products. The objective of this partnership is to help the company to meet the rising demand for natural products.
 In October 2018, DuPont Tate & Lyle Bio Products Company, LLC (US) announced the establishment of the company’s new warehouse and distribution center on its manufacturing site in Loudon, Tennessee, US.

Global 1,3 Propanediol Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Source, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study.

The report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Source:
Bio-Based PDO
Petrochemical-Based PDO
By Application:
Polytrimethylene Terephthalate (PTT)
Polyurethane (PU)
Personal Care & Detergents
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned

DuPont
Metabolic Explorer SA
Zhangjiagang Glory Biomaterial Co., Ltd.
Zouping Mingxing Chemical Co., Ltd.
Shell Chemicals LP
Merck KGaA
Tokyo Chemical Industry Co., Ltd.
Shenghong Group Holdings
Primient Covation LLC
Haihang Industry Co. Ltd.

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