DUBLIN--(BUSINESS WIRE)--The "1,3-Propanediol (PDO) Market by Application (Polytrimethylene terephthalate (PTT), Cosmetics, Personal Care & Cleaning Products, Polyurethane (PU)) and Region (Americas, APAC, Europe, Middle East & Africa (EMEA)) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The 1,3-propanediol market size is estimated to grow from USD 490 million in 2019 to USD 870 million by 2024, at a CAGR of 12.2%
The market growth is driven mainly by the increasing demand for polytrimethylene terephthalate (PTT) in the manufacturing of carpets and apparel due to its good physical properties and high mechanical performance. PTT is preferred over polymers such as nylon 6 and nylon 6,6 in these applications. 1,3-propanediol is the major feedstock for manufacturing PTT.
Cosmetics, personal care, and cleaning products application segment is estimated to witness the highest growth rate between 2019 and 2024
The cosmetics, personal care, and cleaning products application segment is estimated to witness the highest growth rate between 2019 and 2024. Increasing usage of 1,3-propanediol by major manufacturers of these products such as L'Oral (France), Avon Products, Inc. (UK), Unilever (UK), Method Products (US) and Este Lauder Inc. (US) is driving market growth.
1,3-propanediol market in EMEA to witness strong growth during the forecast period
The EMEA 1,3-propanediol market is estimated to witness significant growth during the forecast period. The growing demand for bio-based products in the region and the increasing usage of 1,3-propanediol by manufacturers in the growing cosmetics, personal care & cleaning products industry are driving the 1,3-propanediol market in the region.
Additionally, the strong distribution network of DuPont Tate & Lyle Bio Products Company, LLC (US) in countries of Europe and Middle East & Africa such as Austria, Belgium, Bulgaria, Croatia, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Israel, Italy, Lithuania, the Netherlands, Norway, Poland, Portugal, Russia, Slovakia, Spain, Sweden, Switzerland, Ukraine, the UK, and Turkey is estimated to positively influence the demand for 1,3-propanediol in the region.
Players planning to enter the 1,3-propanediol include Metabolic Explorer (France) and Sheng Hong Group Holdings Ltd. (China).
- High Demand for Environment-Friendly Bio-Based Products
- Increasing Use in Resin Application
- Growing Demand for PTT
- Availability of Substitutes With Comparatively Lower Cost
- High Growth Potential in Emerging Economies
- New Applications Areas of PDO
- Low Awareness of 1,3-Propanediol in Industrial Application
- Dupont Tate & Lyle Bio Products Company, LLC
- Haihang Industry Co., Ltd.
- Hunan Rivers Bioengineering Co., Ltd.
- Merck KGgA
- Metabolic Explorer
- Sheng Hong Group Holdings Ltd.
- Tokyo Chemical Industry Co., Ltd.
- Zhangjiagang Glory Biomaterial Co., Ltd.
- Zhangjiagang Huamei Biomaterial Co., Ltd.
- Zouping Mingxing Chemical Co., Ltd.
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