Global 1,3 propanediol Market By Product Type (Polytrimethylene Terephthalate, Polyurethane, Personal Care, and Detergents), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032

Report Overview

The global 1,3-Propanediol Market was US$ 716.3 million. It is projected to grow at a compound annual growth rate of 9.7% between 2023 and 2032. The global market will continue to be driven by the growing demand for polyesters like polytrimethylene triterephthalate (PTT) and increased polyurethane penetration in various end-use sectors. The market is expected to grow with the addition of polyester applications in diverse industries.

Global 1,3 propanediol Market Scope:

Application Analysis

The most popular applications are polytrimethylene triterephthalate, and polyurethane. It can also be used to produce personal care products, detergents, and heat transfer fluids. PTT production accounts for almost two-thirds of total consumption, according to market value and demand. Polyurethane is a distant second. PTT demand is expected to grow across a variety of industries, which in turn will help the market. PTT as a substitute for other Polyesters will open up many opportunities for industry players. The global 1,3 Propanediol Market is expected to benefit from strong polyester demand from both developed and emerging economies.

Кеу Маrkеt Ѕеgmеntѕ

By Application

• Polytrimethylene Terephthalate
• Polyurethane
• Personal Care
• Detergents

Market Dynamics:

1,3 PDO can be made from both bio-based and petroleum-based sources. Glycerol is a major raw material in the production of 1,3 PDO. Glycerol is a byproduct of biodiesel manufacturing. This will have a positive impact on market growth. Due to growing environmental concerns and the volatility of their prices, there has been a steady shift in demand for biodiesel. This will have a positive impact on the 1,3 PDO market. Although the current drop in crude oil prices is temporary, it is expected to have a positive impact on conventional production. Market participants will continue to face challenges due to low white space. Market participants can expect to see increased R&D efforts to develop new bio-based raw materials over the forecast period. The growth rate of bio-based PDO will be higher than its conventional counterpart.

Traditional products are made from crude oil-based raw materials such as ethylene oxide or acrolein. Glycerol or corn syrup can be used to make bio-based 1,3 PDO. There are many advantages to bio-based production over traditional methods, including lower costs, less energy, product biodegradability, and a low environmental impact. Traditional methods, on the other hand, are more cumbersome and costly, with a greater environmental impact. These inherent benefits are expected to enhance the global 1,3 PDO market growth. R&D initiatives to create new bio-based sources offer huge opportunities for existing and new industry players. A shift in the trends towards reducing fossil fuel dependence will also be a key factor in supporting the growth of bio-based raw materials markets.

Regional Analysis

In terms of demand and market value, North America was the dominant market with 36.8% in the region. In 2021, the region accounted for approximately three-quarters of global consumption. The fastest growth rates are expected to be experienced in emerging markets like Central & South America and the Asia Pacific during the forecast period. China, India, and Brazil are expected to lead regional market growth. China, Brazil, and Russia are all taking strenuous steps to reduce fossil fuel dependency and promote biodiesel production. These countries have favorable regulations and mandates for biodiesel production. This will help the market and contribute to higher glycerol levels.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

The 1,3 PDO market is oligopolistic and is controlled by a few producers. DuPont has dominated the global production scene for many years. Companies have developed their own production methods, which has resulted in a low- to medium amount of white space. Shell Chemicals LP uses ethylene oxide as its own method. DuPont Tate & Lyle developed their corn syrup method. In an effort to capture the expanding market in emerging markets, companies have participated in mergers and acquisitions. This industry is undergoing product development and capacity escalation. Low white space and large initial investments required to create new proprietary methods make it difficult to see new entrants. To gain access to the 1,3 PDO market, new players are forming partnerships with established players. Metabolic Explorer, a French producer licensed its 1,3 production process to S.K Chemicals.

Маrkеt Кеу Рlауеrѕ:

• Agribotix LLC
• DuPont Tate & Lyle
• Metabolic Explorer
• Zhangjiagang Glory Biomaterial Co. Ltd
• Zouping Mingxing Chemical Co., Ltd.
• Merck KGgA
• Sheng Hong Group Holdings Ltd.
• Tokyo Chemical Industry Co., Ltd.
• Other Key Players

For the 1,3 Propanediol Market research study, the following years have been considered to estimate the market size: