Report Code: TIPRE00021113 | No. of Pages: 150 | Category: Chemicals and Materials | Status: Prebook
1,3-propanediol is a bifunctional organic compound used in the production of various chemicals such as polytrimethylene terephthalate, polyurethanes, and polyether. It is also used as a solvent, humectant, viscosity enhancer, carrier for active ingredients, and emollient in cosmetics and personal care products. 1,3-propanediol can be categorized into conventional and biobased. Conventional 1,3-propanediol can be obtained from petroleum-based products, whereas biobased 1,3-propanediol can be obtained from starch and sugars. The rising concerns related to environmental sustainability, carbon emissions, and climate change is driving the development of chemicals from the biobased feedstock. This factor is expected to significantly drive the demand for biobased 1,3-propanediol in the coming years.
In the past few years, sustainability concerns have increased dramatically due to the rising awareness of the adverse effects of petroleum-based products on the environment. Petroleum-derived products have massive greenhouse gas emission rates, which cause significant harm to the environment and living systems. Therefore, manufacturers of various chemicals and materials are developing products using biobased feedstock to reduce their carbon footprints. The manufacturers of 1,3-propanediol are also focusing on commercializing biobased products to promote a sustainable economy. Since 2004, Dupont and Tate & Lyle have been working jointly on the commercialization of their biobased 1,3-propanediol from renewably sourced plant feedstocks. Thus, rising focus on sustainability and increasing development of biobased 1,3-propanediol are expected to open new growth opportunities in the coming years.
The "Global 1,3-Propanediol Market Analysis to 2028" is a specialized and in-depth study of the 1,3-propanediol market with a special focus on the global market trend analysis. The report aims to provide an overview of the 1,3-propanediol market with detailed market segmentation. The global market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of leading market players and offers key trends and opportunities in the market.
|Market Size Value in||US$ 470 million in 2022|
|Market Size Value by||US$ 756 million by 2028|
|Growth rate||CAGR of 8.2% from 2022 to 2028|
|No. of Pages||150|
|Historical data available||Yes|
|Segments covered||Type, Application, and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
The global 1,3-propanediol market is segmented based on type and application. Based on type, the market is segmented into conventional and biobased. In terms of application, the market is segmented into polytrimethylene terephthalate synthesis, polyurethane synthesis, cosmetic products, cleaning products, and others.
The report provides a detailed market overview, including qualitative and quantitative information. It provides an overview and forecast of the global 1,3-propanediol market based on various segments. It also provides market size and forecast estimates from 2020 to 2028 for five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Each region's 1,3-propanediol market is later sub-segmented into respective countries and segments. The report covers an analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in these regions.
From the regional perspective, North America dominated the 1,3-propanediol market in 2021. The dominance of the region is majorly attributed to the rising demand for 1,3-propanediol from various end-use industries such as personal care & cosmetics, chemicals & materials, and pharmaceuticals. It is used as a solvent in the synthesis of various cosmetic formulations. It also improves moisture retention and viscosity of cosmetic products, which is driving its demand in the personal care & cosmetic industry across the region. Further, the presence of leading manufacturers of 1,3-propanediol, such as Dupont, Tate & Lyle, and DSM, is expected to boost the market growth across North America.
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Source: The Insight Partners Analysis
The report analyzes the factors influencing the 1,3-propanediol market from both the demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive Porter's five forces analysis, highlighting the factors influencing the 1,3-propanediol market in these regions.
The COVID-19 pandemic brought unprecedented challenges to many industries, including the chemicals & materials industry. Lockdowns, border restrictions, travel bans, the shutdown of manufacturing units, and other safety protocols under the guidelines of governments of different nations negatively impacted the operations of manufacturing companies. Moreover, supply chains were completely disrupted due to nationwide lockdowns and border restrictions, which affected the production and distribution of various chemicals, including 1,3-propanediol. This also caused a spike in prices of various chemical intermediates, including 1,3-propanediol, hampering the market growth. Also, personal care, cosmetics, and pharmaceutical industries were hit by the COVID-19 pandemic due to the shutdown of manufacturing units and difficulty in sourcing raw materials. This led to a significant decline in demand for 1,3-propanediol, which negatively impacted the market growth. However, in 2021, economies started reviving due to the relaxation of various restrictions and increased vaccination rates. Manufacturers in the chemicals & materials industry were permitted to operate at full capacity, which helped them boost production and overcome demand and supply gaps. All these factors had a positive impact on the 1,3-propanediol market. Thus, initially, in 2020, the 1,3-propanediol market faced the negative impact of the pandemic; however, in 2021, as manufacturers resumed their operations, the market witnessed growth.
The report covers key developments in organic and inorganic growth strategies in the 1,3-propanediol market. Various companies are focusing on organic growth strategies such as product launches, product approvals, and patents and events. Inorganic growth strategy activities witnessed in the market were acquisitions, partnerships, and collaborations. These activities have paved the way for business expansion and market players' customer base. Market players are anticipated to have lucrative growth opportunities in the near future with the rising demand for 1,3-propanediol.
The report also includes key 1,3-propanediol market company profiles, their SWOT analysis, and market strategies. In addition, the report focuses on leading industry players with information, such as company profiles, components, and services offered, financial information for the last three years, and key development in the past five years.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
The List of Companies
1. DuPont Tate and Lyle Bio Products Company, LLC
2. Zhangjiagang Glory Biomaterial Co., Ltd.
3. Zouping Mingxing Chemical Co., Ltd.
4. Merck KGgA
5. Haihang Industry Company Ltd.
6. Tokyo Chemical Industry Co., Ltd.
7. METabolic Explorer
8. Shell Chemicals LP
9. Tate and Lyle Bio Products Company, LLC
10. Sheng Hong Group Holdings Ltd.