1,3 propanediol market Size

Posted by Nicky Arora on October 17th, 2019

The Global 1,3 Propanediol (PDO) Market is expected to reach USD 776.3 million by 2022, according to a new study by Grand View Research, Inc. Growing polytrimethylene terephthalate (PTT) and polyurethane consumption across various end-use industries is expected to drive the global PDO market. Growth of personal care industry particularly in emerging markets of Asia Pacific and Latin America is also expected to have a positive influence on the market growth. Growing environmental concerns and mandates are likely to assist the growth of bio-based 1,3 PDO market over the forecast period. Favorable regulations and government policies encouraging biodiesel production is presumed to further augment the market growth. Low white space availability on account of multiple proprietary methods developed by the market participants is anticipated to ward off new entrants and may slow down market development.

Further key findings from the study suggest:

  • Global 1,3 propanediol market demand was 146 kilo tons in 2014 and is expected to reach 225.9 kilo tons by 2022, growing at a CAGR of 5.8% from 2015 to 2022.
  • PTT emerged as the leading application segment and accounted for 71.8% of total market volume in 2014. Industry shift towards replacing conventional polyesters by PTT is expected to remain a key driving factor for this segment over the forecast period. Polyurethane is expected to be one of the fastest growing application segment at a CAGR of 5.9% from 2015 to 2022. Increasing PU penetration across automotive and construction industries is expected to drive the global market.
  • North America emerged as a clear leader in the global PDO market and accounted for 74.0% of total market volume in 2014. Favorable regulatory scenario particularly in the U.S. to promote bio-based chemicals is expected to drive the regional market. North America is expected to maintain its lead position in the global market over the forecast period.
  • Asia Pacific is expected to witness the highest growth rate of 6.2% from 2015 to 2022. Growth of regional automotive industry coupled with increasing construction spending is expected to drive the regional market over the next seven years.
  • Major industry participants have been taking initiatives to develop bio-based 1,3 PDO with superior properties. Companies are constantly involved in mergers & acquisitions or forging partnerships with those who possess R&D capabilities and have access to raw materials. Key industry participants include DuPont Tate & Lyle Bio Products, Metabolic Explorer, Zhangjiagang Glory Biomaterial Co. Ltd., Zouping Mingxing Chemical Co. Ltd and Shenghong Group.

For the purpose of this study, Grand View Research has segmented the 1,3 PDO market on the basis of application and region:

Global 1, 3 Propanediol (PDO) Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 - 2022)

  • Polytrimethylene Terephthalate (PTT)
  • Polyurethane (PU)
  • Personal Care & Detergents
  • Others

Global 1,3Propanediol (PDO) Regional Outlook (Volume Kilo Tons; Revenue, USD Million, 2015 - 2022)

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East and Africa

About Grand View Research:

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.

Contact:

Grand View Research, Inc.

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San Francisco, CA 94105

United States

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

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Nicky Arora

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Nicky Arora
Joined: October 15th, 2019
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