The global 1,3-propanediol market size is projected to reach USD 691 million by 2025 from the estimated USD 402 million in 2020, at a CAGR of 11.4% between 2020 and 2025. 1,3-propanediol (PDO) is a key feedstock in the manufacture of polytrimethylene terephthalate (PTT). It can be used as a substitute for petrochemical-based products such as propylene glycol, butylene glycol, and glycerin in the formulation of cosmetics, personal care, laundry, and cleaning products. The demand for environmentally-friendly products has increased the utilization of bio-based PDO.
Get PDF Brochure for Research Insights at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=760
Based on application, the 1,3-propanediol market is segmented into polytrimethylene terephthalate (PTT); polyurethane (PU); cosmetics, personal care, and cleaning products; and others. The others segment comprises engine coolants, food & beverage, pharmaceutical & dietary supplement, de-icing fluid, heat transfer fluid, and unsaturated polyester resins. PTT application accounted for the largest share of the market in 2018. This is because of the growing demand for PTT in carpet and apparel applications. 1,3-propanediol is the main feedstock in the manufacture of PTT.
The Americas are estimated to be the largest market for 1,3-propanediol during the forecast period. This is due to the presence of the largest manufacturer of 1,3-propanediol, DuPont Tate & Lyle Bio Products Company, LLC (US), in the region. There is increasing awareness about the need to reduce GHG emissions and the growing demand for a sustainable product, which drives the consumption of 1,3-propanediol in the region. The major applications of 1,3-propanediol in the region are cosmetics, personal care & cleaning products, PTT, PU, and de-icing fluids.
Request a Sample of this Report at https://www.marketsandmarkets.com/requestsampleNew.asp?id=760
DuPont Tate & Lyle Bio Products Company, LLC (US), Zouping Mingxing Chemical Co., Ltd. (China), Zhangjiagang Glory Biomaterial Co., Ltd. (China), Haihang Industry Company Ltd. (China), Tokyo Chemical Industry Co., Ltd. (Japan), and Merck KGgA (Germany) are the leading manufacturers of 1,3-propanediol. These players are focusing on innovation to cater to the specific demands of end-users. They have also adopted the strategy of partnership and expansion to increase their market reach, enhance their product portfolio, and strengthen their market positions.
DuPont Tate & Lyle Bio Products Company, LLC, is the largest manufacturer of 1,3-propanediol. The company focusses on expansions, innovations, and partnerships to strengthen its position in the market. For instance, in October 2018, the company opened a warehouse and distribution center at its manufacturing site in Loudon, Tennessee, US. It focuses on increasing its production capacity to meet the growing demand for 1,3-propanediol in different applications. The company announced to increase its production capacity by 35 million pounds in March 2018. In the recent past, the company entered into a partnership with L.V. Lomas Ltd. (Canada) (which is renamed as IMCD Canada Ltd.) to distribute Zemea propanediol in Canada. The company has a strong distribution network, and its product is available in many countries such as the US, Mexico, Italy, Greece, Poland, Turkey, Sweden, Denmark, Russia, Estonia, Norway, India, and Brazil. In October 2017, DuPont (US), INVISTA (US), and DuPont Tate & Lyle Bio Products Company, LLC entered into a partnership to develop a series of innovative and enhanced sustainable textile solutions for workwear and outdoor wear.
Another player in the market is Zhangjiagang Glory Biomaterial Co., Ltd. (China), which focuses on increasing the production capacity of 1,3-propanediol. The company started the 1,3-propanediol program in 2011. The company plans to combine the 1,3-propanediol plant and PTT plant organically so that it can increase its profit.
Share Your Requirements & Get Customized Reports at https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=760
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States