Global 1,3-Propanediol (PDO) Market to Reach $1 Billion by 2030
The global market for 1,3-Propanediol (PDO) estimated at US$531.2 Million in the year 2023, is expected to reach US$1 Billion by 2030, growing at a CAGR of 9.5% over the analysis period 2023-2030. Polytrimethylene Terephthalate (PTT) Application, one of the segments analyzed in the report, is expected to record a 8.8% CAGR and reach US$512.9 Million by the end of the analysis period. Growth in the Personal Care, Cosmetics & Cleaning Products Application segment is estimated at 10.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $142.1 Million, While China is Forecast to Grow at 12.9% CAGR
The 1,3-Propanediol (PDO) market in the U.S. is estimated at US$142.1 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$220.2 Million by the year 2030 trailing a CAGR of 12.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.1% and 7.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 7.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$148.9 Million by the year 2030.
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