DUBLIN--(BUSINESS WIRE)--The "1,3-Propanediol (PDO) Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global market for 1,3-propanediol (PDO) is expected to grow at a CAGR of around 7% globally during the forecast period.
Increasing application scope of polyesters using 1,3-propanediol and growing demand for polytrimethylene terephthalate (PTT) are the major driving factors for the market. On the other side, presence of cheaper substitutes and unfavorable conditions arising due to the COVID-19 outbreak is hindering the growth of the market.
- Among the various application segments, the polytrimethylene terephthalate (PTT) is expected to continue its dominance over the period owing to its increased usage in various applications such as in manufacturing of carpets and apparels.
- Rising demand for bio-based products to minimize greenhouse gas emissions and energy consumption is anticipated to create opportunities for 1,3-propanediol market.
- North America region dominated the region across the globe with the largest consumption from countries such as United States and Mexico.
Increasing Demand from Bio-Based PDO Segment
- The production of 1,3-propanediol (PDO) can be done from two sources, petrochemical based and bio-based. Glycerol has been attaining importance as the most important raw material to produce 1,3-propanediol (PDO). Glycerol is manufactured from a by-product resulting from biodiesel. Growing production of biodiesel is likewise projected to take a positive effect on the development of the market.
- A transition of decreasing dependence on petroleum products on account of increasing concerns about the environment and instability pertaining to its pricing has encouraged the demand for biodiesel.
- Bio-based 1,3-propanediol is a FDA certified product, which can be employed in various applications namely functional & deicing fluid, coatings, cosmetic & personal care, home care, polymers, and fibers among others.
- Increasing R&D initiatives to develop bio-based feedstock is expected to create opportunities for market players. Bio-based PDO is presumed to witness high growth rate compared to its conventional counterpart.
North America to Dominate the World Market
- North America is the largest 1,3-propanediol market and is expected to continue its dominance during the forecast period. The market is primarily driven by increasing production and consumption of 1,3-propanediol in PTT, cosmetics, personal care & cleaning products, and polyurethane applications.
- Furthermore, with the increasing investments in the advancement of the retail sector has made the availability of consumer goods easier, which in turn is boosting the demand for 1,3-propanediol from the personal care and home care industries.
- In addition, the transition towards the use of biobased products along with the prevalence of stringent environmental regulations has further increased the production of biodiesel primarily in the United States and Canada, which, in turn propelling the market growth.
- Also, polyester manufactured using 1,3-Propanediol, offers excellent resistance to impact and flexibility as associated with polyester that does not comprise 1,3-propanediol. Hence, the growing use of polyesters manufactured using 1,3-Propanediol is stirring the development of it.
- All such aforementioned factors are propelling the demand for market studied in the region.
The global 1,3-propanediol (PDO) market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Dupont Tate & Lyle Bio Products Company, Haihang Industry Co. Ltd., Zhangjiagang Glory Chemical Industry Co. Ltd., Merck KGaA, and Metabolic Explorer among others.
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Application Scope of Polyesters Using 1,3-Propanediol
4.1.2 Growing Demand for Polytrimethylene Terephthalate (PTT)
4.2.1 Presence of Cheaper Substitute Products
4.2.2 Unfavorable Conditions Arising due to COVID-19 Outbreak
4.3 Industry Value-Chain Analysis
4.4 Porters Five Forces Analysis
5 MARKET SEGMENTATION
5.1.1 Bio-Based PDO
5.1.2 Petrochemical-Based PDO
5.2.2 Personal Care Products
5.2.3 Polytrimethylene Terephthalate
5.3 End-user Industry
5.3.1 Synthetic Drugs
5.3.2 Engineering Plastics
5.3.3 Textile Dyeing and Finishing
5.4.2 North America
5.4.4 South America
5.4.5 Middle-East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Dupont Tate & Lyle Bio Products Company, LLC
6.4.2 Haihang Industry Co. Ltd.
6.4.3 Hunan Rivers Bioengineering Co. Ltd.
6.4.4 Merck KGaA
6.4.5 Metabolic Explorer
6.4.6 Sheng Hong Group Holdings Ltd.
6.4.7 Shell Chemicals
6.4.8 Tokyo Chemical Industry Co. Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand for Bio-Based Products
7.2 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/6njqbl