Global 1, 3-Propanediol (PDO) Market Size, Trends & Growth Opportunity and By Type (Bio-Based PDO and Petrochemical-Based PDO), By Application (Polytrimethylene Terephthalate (PTT), Polyurethane, Personal Care, and Others), By End User (Synthetic Drugs, E

Global 1, 3-Propanediol (PDO) Market Size, Trends & Growth Opportunity and By Type (Bio-Based PDO and Petrochemical-Based PDO), By Application (Polytrimethylene Terephthalate (PTT), Polyurethane, Personal Care, and Others), By End User (Synthetic Drugs, Engineering Plastics, Textile Dyeing & Finishing, and Others), By Region and Forecast till 2027.

Global 1, 3-Propanediol (PDO) Market

The Global 1, 3-Propanediol (PDO) Market is expected to grow from US$ 375.1 Million in 2021 to US$ 875.6 Million by 2027; it is estimated to grow at a CAGR of 15.18% from 2022 to 2027.

1, 3-propanediol (PDO) is an organic chemical compound that is utilized on large scale for number of a number of industrial productions and research applications as it provides various benefits to end users. It is produced organically from glycerol and its interactions with microorganism in anaerobic conditions.

Drivers

Increase in polyurethane penetration across various end use industries is the key driving factor which is expected to boost the global 1,3-propanediol (PDO) market growth. Furthermore, increase in demand for eco friendly and bio based products will have the positive impact on market growth. Moreover, increase in usage of 1,3-propanediol (PDO) in resin application will propel the market growth. In addition to that, increase in research and development activities to develop bio based products will fuel the market growth.

Restraints

However, availability of substitutes with comparatively low cost is the major challenging factor which is expected to hamper the global 1, 3 propanediol (PDO) market growth. Lack of awareness will affect the market growth.

Opportunities

The increase in resin applications, such as flavouring, anti-inflammatory, and cathartic agents, is the driver of the market's lucrative growth prospects during the anticipated time frame. A further element boosting the market's expansion is the increase in demand for polytrimethylene terephthalate (PTT) among various end users. In order to provide eco-friendly emission solutions, the government is increasingly promoting biodiesel manufacturing, which is generating expansion chances for the industry throughout the foreseeable future.

Impact of Covid-19

The market for 1,3 propanediol suffered as a result of the current coronavirus outbreak. There were significant economic disruptions in many different nations. Various governments' lockdowns forced the closure of production and manufacturing facilities. The market was severely affected by issues with supply chains, a shortage of labour, price variations, and the availability of raw materials. As imposed limits have loosened and activities will continue, it is anticipated that the market will expand.

Segmentation By Type: Global 1, 3-Propanediol (PDO) Market is segmented on the basis of Type into Bio-Based PDO and Petrochemical-Based PDO.

Segmentation By Application: Global 1, 3-Propanediol (PDO) Market is segmented on the basis of Application into Polytrimethylene Terephthalate (PTT), Polyurethane, Personal Care, and Others. This is due to the increase in demand for PTT in a variety of industries, including industrial, consumer products, upholstery, apparel, and specialty resins. PTT has a number of advantages over other polymers, including stretch recovery qualities, less production costs for bio-based 1,3 PDO, and reduced environmental effect.

Segmentation By End-user: Global 1, 3-Propanediol (PDO) Market is segmented on the basis of End-user into Synthetic Drugs, Engineering Plastics, Textile Dyeing & Finishing, and Others.

Segmentation By Region: Global 1, 3-Propanediol (PDO) Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The larger market share is linked to rising personal care product consumption and rising consumer spending in nations like the United States and Canada. Due to the increased demand for PTT in the emerging end-use industries and the expanding use of bio-based products, North America will dominate this market.

Competitive Landscape: The key players of 1, 3-Propanediol (PDO) Market are Dupont Tate & Lyle Bio Products Company, Llc, Zhangjiagang Glory Biomaterial Co., Ltd., Zouping Mingxing Chemical Co., Ltd., Haihang Industry Co., Ltd., Hunan Rivers Bioengineering Co., Ltd., Merck KGgA, Tokyo Chemical Industry Co., Ltd. and Zhangjiagang Huamei Biomaterial Co., Ltd.

Industrial Development

• Ajinomoti Animal Nutrition Europe was acquired by METabolic Explorer in 2021, a cleantech biochemical firm that creates and commercialises competitive, sustainable fermentation techniques that offer alternatives to petro chemistry.