Global $870 Mn 1,3-Propanediol (PDO) Market to 2024
DUBLIN, Sept. 4, 2019 /PRNewswire/ -- The "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 2024" report has been added to ResearchAndMarkets.com's offering.
The global market size for PDO was USD 439.7 million in 2018 and is projected to reach USD 870.2 million by 2024, at a CAGR of 12.2%, between 2019 and 2024
Increasing demand for PTT drives the market as it the key feedstock in the production of PTT. The Americas was the largest market for 1,3-propanediol, followed by APAC and EMEA in 2018. The presence of DuPont Tate & Lyle Bio Products Company, LLC, the largest manufacturer of bio-based PDO in the region, fuels the market in the Americas. There is growing awareness and adoption of 1,3-propanediol in various applications in the region.
1,3-propanediol is an organic compound which is used as a raw material for manufacturing different products, especially PTT. It is also utilized in a variety of applications, such as PU; cosmetics, personal care, cleaning products; engine coolants, food & flavors, pharmaceutical & dietary supplements, de-icing fluids, heat transfer fluids, e-liquids and unsaturated polyester resins.
The 1,3-propanediol market is emerging, and a number of developmental activities are being undertaken for its utilization in different applications. The number of manufacturers of PDO is very low. The largest manufacturer of bio-based PDO is DuPont Tate & Lyle Bio Products Company, LLC (US). Currently, the production of PDO is mainly through bioprocessing of materials such as glycerol and corn sugar, among other bio-based feedstocks. The dominant use of bio-based feedstock for its production is supporting the growth of the market.
The key players in the 1,3-propanediol market are 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), Hunan Rivers Bioengineering Co., Ltd. (China), Merck KGgA (Germany), Tokyo Chemical Industry Co., Ltd. (Japan), and Zhangjiagang Huamei Biomaterial Co., Ltd. (China).
The market players are focusing on expanding their manufacturing units to meet the growing demand for PDO.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the 1,3-Propanediol Market
4.2 1,3-Propanediol Market, By Region
4.3 Americas 1,3-Propanediol Market, By Application
4.4 1,3-Propanediol Market, By Application
5 Market Overview
5.1 Introduction
5.2 Evolution
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 High Demand for Environment-Friendly Bio-Based Products
5.3.1.2 Increasing Use in Resin Application
5.3.1.3 Growing Demand for PTT
5.3.2 Restraints
5.3.2.1 Availability of Substitutes With Comparatively Lower Cost
5.3.3 Opportunities
5.3.3.1 High Growth Potential in Emerging Economies
5.3.3.2 New Applications Areas of PDO
5.3.4 Challenges
5.3.4.1 Low Awareness of 1,3-Propanediol in Industrial Application
5.4 Patent Analysis
5.5 Raw Material Analysis
5.5.1 Glycerol
5.5.2 Corn
5.6 Porter's Five Forces Analysis
6 1,3-Propanediol Market, By Application
6.1 Introduction
6.2 Polytrimethylene Terephthalate (PTT)
6.2.1 Demand for 1,3-Propanediol in Ppt Application Driven By Apparel and Carpet Industry
6.3 Cosmetics, Personal Care, and Cleaning Products
6.3.1 Growing Demand for Natural and Innovative is Driving the Market in This Segment
6.4 Polyurethane
6.4.1 Growing Demand for Automobiles and Footwear Drives the Demand for PDO in PU Application
6.5 Others
7 1,3-Propanediol Market, By Region
7.1 Introduction
7.2 Americas
7.3 APAC
7.4 Europe, Middle East & Africa
8 Competitive Landscape
8.1 Overview
8.2 Market Share Analysis
8.3 Competitive Situation and Trends
8.3.1 Expansion
8.3.2 Innovation
8.3.3 Partnership
9 Company Profiles
- Dupont Tate & Lyle Bio Products Company, LLC
- Haihang Industry Co., Ltd.
- Hunan Rivers Bioengineering Co., Ltd.
- Merck KGgA
- Metabolic Explorer
- Sheng Hong Group Holdings Ltd.
- Tokyo Chemical Industry Co., Ltd.
- Zhangjiagang Glory Biomaterial Co., Ltd.
- Zhangjiagang Huamei Biomaterial Co., Ltd.
- Zouping Mingxing Chemical Co., Ltd.
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