1,3 Propanediol Market Size, Share & Trends Analysis Report By Source (Bio-based, Petrochemical-based), By Application, By Region, And Segment Forecasts, 2022 - 2030

1, 3 Propanediol Market Growth & Trends

The global 1, 3 propanediol market size is expected to reach USD 799.3 million by 2030, registering a CAGR of 8.8% from 2022 to 2030, as per the new report by Grand View Research, Inc. The demand is attributed to the rising consumption of the product in various end-use industries such as personal care, polytrimethylene terephthalate (PTT), and other applications.

The term 1, 3 propanediol (PDO) relates to an organic chemical compound that is a colorless liquid and is widely employed in a variety of personal care applications since it has several advantageous uses. The substance is created biologically in anaerobic environments using glycerol and interactions with microbes.

The global product market is expected to be driven by shifting consumer preferences toward bio-based products. It is anticipated that increasing consumer acceptability of bio-based products across a range of end-use sectors would further support market expansion. For a number of reasons, businesses are putting more emphasis on incorporating renewable materials in their commodities.

Some of the causes of this changing trend include cheap manufacturing costs, low toxicity, biodegradability, low production energy, superior greenhouse gas performance, and less environmental impact. The 1, 3 propanediol with a bio-based has several advantages above 1, 3 propanediol with a crude base that makes it more appealing. Bio-based 1, 3-propanediol production techniques, such as the one created by DuPont Tate & Lyle, assert that they consume 40.0% less energy and generate 20.0% less greenhouse gas, during production.

1,3 Propanediol Market Report Highlights

• Polytrimethylene Terephthalate (PTT) segment accounted for 67.4% market share in terms of revenue in 2021. The growth can be attributed to an increase in its consumption of PTT for producing fiber and film materials
• Asia Pacific region is anticipated to witness a CAGR of 9.1% during the forecast period due to the rise in consumer spending on personal care, and beauty products
• Several countries have implemented stringent measures to address the energy crisis issues, which include promoting biodiesel usage in the country. Biodiesel usage has several major impacts such as low greenhouse gas emissions, lower environmental impact, increasing employment, and being self-reliant in terms of energy
• Increasing awareness about environmental protection is impacting demand for bio-based products, positively
• Companies dominate the product market with their continuous involvement in acquisitions, manufacturing facility expansion, and partnerships. For instance, Metabolic Explorer, a French 1,3 propanediol producer, has licensed its 1,3PDO production technology to South Korea-based S.K Chemicals Co. Ltd.