The 1,3-propanediol market accounted to reach at US$ 756 million by 2028; registering at a CAGR of 8.2% between 2022 and 2028, according to a new research study conducted by The Insight Partners.
Rising Demand for 1,3-Propanediol in End-Use Industries Driving Market
1,3-Propanediol Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: by Type (Conventional and Biobased), Application (Polytrimethylene Terephthalate Synthesis, Polyurethane Synthesis, Cosmetic Products, Cleaning Products, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)
1,3-propanediol Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Download Free Sample
1,3-Propanediol, also known as 1,3 PDO, is an organic compound widely used as an intermediate in the production of several compounds and materials, including polyurethanes, polyesters, and polyether. It is also used as a bulk chemical for manufacturing lubricants, pharmaceutical drugs, cosmetics and personal care products, and cleaning agents such as detergents. 1,3-propanediol is primarily used as a monomer in synthesizing polytrimethylene terephthalate, which resembles the properties of textiles, fibers, carpets, and coatings. 1,3-propanediol can replace glycols in food and flavor synthesis. This factor is driving its demand from the food & beverages industry.
Companies are launching biobased 1,3 PDO, owing to the rising concerns over the environmental impacts of petroleum-derived 1,3-propanediol. 1,3-propanediol can be produced from biobased feedstock such as corn starch which resembles the properties of the petroleum-derived product. In 2004, Dupont and Tate & Lyle signed an agreement to jointly produce and commercialize biobased 1,3-propanediol. Now, many other companies, such as Metabolic Explorer and Shenghong Group Holdings, are also commercializing the biobased production of 1,3-propanediol. This factor is expected to offer lucrative growth opportunities to the 1,3-propanediol market over the forecast period.
1,3-propanediol is an important building block in the production of polytrimethylene terephthalate (PTT). PTT is majorly used in fibers for manufacturing carpets and textiles. The carpets and textiles made of PTT fibers are elastic, strong, have high abrasion resistance, and are resistant to wrinkles. PTT is also used for engineering applications such as automotive components, electronic components, and consumer goods. The rising demand for polytrimethylene terephthalate for various applications is also fueling the need for 1,3-propanediol, propelling the market growth.
DuPont Tate & Lyle Bio Products; Tokyo Chemical Industry Co., Ltd.; DSM; Merck KGaA; Zhangjiagang Glory Biomaterial Co. Ltd; Zouping Mingxing Chemical Co., Ltd; Metabolic Explorer; Haihang Industry, Co. Ltd.; Henan GP Chemicals Co., Ltd; and Jinan Qinmu Fine Chemical Co., Ltd. are the key market players profiled in the study. Several other major companies were studied and analyzed in this research study to get a holistic view of the 1,3-propanediol market and its ecosystem.
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com