1, 3-propanediol a class of specialty compounds is a colorless liquid, which is miscible in water. It is mainly used as a feedstock in the production of various chemicals and materials. It finds its applications in the production of polyurethane, polytrimethylene terephthalate (PTT), cosmetics & personal care, and household cleaners. It is also known for niche applications like engine coolants, de-icing fluid, and heat transfer fluid, among others.
Global Market for 1, 3-Propanediol - Competitive Analysis
Highly competitive, the 1, 3-Propanediol market appears to be fragmented. Many large and small players churn the market competition, gaining a competitive advantage. Further, they incorporate strategic initiatives, such as acquisition, collaboration, partnership, expansion, and technology launch, to sustain their market position.
Players leading the 1, 3-Propanediol market include Metabolic Explorer SA (France), DuPont Tate & Lyle Bio Products Company, LLC (US), Zhangjiagang Glory Biomaterial Co. Ltd (China), Royal Dutch Shell (Netherland), Zouping Mingxing Chemical Co., Ltd (China), Shanghai Jinjinle Industry Co., Ltd (China), Zouping Mingxing Chemical Co.,Ltd (China), Chongqing Kunlun Chemical Co., Ltd (China), and Salicylates And Chemicals Pvt. Ltd (India), among others.
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Over the past few years, the 1, 3-propanediol market is growing rapidly, witnessing a massive demand across major end-use industries. Moreover, the growing demand for polytrimethylene terephthalate (PTT) is a key factor propelling the growth of the market. According to a leading research firm, Market Research Future (MRFR), the global 1, 3-Propanediol market is expected to garner significantly by 2023. MRFR also asserts that the market would register a CAGR over 9% throughout the forecast period (2022-2030).
Global 1, 3-Propanediol Market - Segments
The report segments the market into two key dynamics to widen the scope of understanding,
By Application : Polytrimethylene Terephthalate, Polyurethane, Cosmetics & Personal, Engine Coolants, Heat Transfer Fluid, De-icing Fluid, and Household, among others.
By Regions : Europe, North America, Asia Pacific, and the Rest-of-the-World.
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Global 1, 3-Propanediol Market - Regional Analysis
North America would retain its leading position in the global 1, 3-Propanediol market throughout the forecast period. The growing demand for PTT from the growing end-use industries is fuelling the regional market growth. Moreover, the increasing inclination towards the use of bio-based products and the stringent environmental regulations that have increased the production of biodiesel is, in turn, surging the growth of regional 1, 3-propanediol market. Moreover, the growing demand for plastics in automotive, construction, packaging, industrial machinery, and aviation sectors fosters the regional market.
The 1, 3-Propanediol market in the Asia Pacific region stands second, globally, in terms of the size. The growing biodiesel production would contribute to market growth positively. The augmenting demand from the burgeoning industries in the region, such as cosmetics, personal care, and household care products, would boost market growth.
Rapidly developing countries in the APAC, such as China, Japan, and India are expected to emerge as key contributors due to the vast consumption of polypropylene and polyethylene. Furthermore, the growing investments in the development of the retail sector are promoting the demand for 1,3-propanediol from the home care and personal care product industry, making the availability of these consumer goods easier.
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The 1, 3-Propanediol market in the European region is emerging as a promising market. Factors, such as the increasing demand for polypropylene and polyethylene in heavy industries, act as a significant tailwind for the growth in the regional market. Also, the demand from the rapidly growing industries, such as packaging, automotive, and consumer goods, in some of the European countries like the UK, Germany, and Italy drives the regional market.
Industry/Innovation/ Related News:
May 20, 2019 --- VIVOBAREFOOT (the UK), a leading global shoe company, launched the company's most innovative sustainable shoe and one of the world's first plant-based performance shoes - Primus Lite II Bio. Primus Bio uses vegan biopolymer, a natural bi-product of the field-corn food industry called 'Susterra Propanediol' or '1,3-propanediol', which is developed by DuPont Tate & Lyle Bio Products. Sorona®, a bio-based fiber also used in the shoe, is a trademark of EI du Pont de Nemours and Company.
VIVOBAREFOOT unveiled the highly anticipated unisex shoe on the heels of independent sustainability research, which highlighted eco-materials as a key factor in consumer purchasing decisions.
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