According to a report,“1,3 Propanediol (PDO) Market Analysis By Application (Polytrimethylene Terephthalate (PTT), Polyurethane, Personal Care & Detergents) And Segment Forecasts To 2022”, published by Grand View Research, Inc., the Global 1,3 Propanediol (PDO) Market is expected to reach USD 776.3 million by 2022. 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.
Key Takeaways from the report:
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.
Global 1,3 PDO market volume by application, 2012-2022 (Kilo Tons)
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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)
Personal Care & Detergents
Global 1,3Propanediol (PDO) Regional Outlook (Volume Kilo Tons; Revenue, USD Million, 2015 – 2022)
Central & South America
Middle East and Africa
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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