The global 1,3-propanediol market size is projected to reach USD 691 million by 2025, at a CAGR of 11.4% from USD 402 million in 2020. Growing demand for bio-based products to lower greenhouse gas emissions and energy consumption and increasing use in resin applications is expected to drive the 1,3-propanediol market. Also, the growing demand for PTT in apparel and carpets is estimated to boost the growth of the 1,3-propanediol industry.
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A gradual paradigm shift in consumer preference for bio-based products is witnessed across the world. The growing awareness of consumers, increasingly stringent government regulations, and depletion of conventional sources have prompted companies to innovate and market sustainable products. PDO is one such biochemical which is estimated to have high demand. Bio-based PDO utilizes renewable feedstock, such as corn sugar and crude glycerin, making it more sustainable.
Polytrimethylene terephthalate (PTT) application is the largest consumer of 1,3-propanediol.
Polytrimethylene terephthalate (PTT) is estimated to be the largest application of 1,3-propanediol during the forecast period. The demand for PTT is growing in apparel and textiles. The growth of the global textiles and apparel industries is expected to play an important role in augmenting the demand for PTT, which in turn, is expected to bolster the sales of 1,3-propanediol as it is the primary feedstock for PTT. The manufacture of bio-based PTT uses less energy and releases less greenhouse gas compared to nylon 6 and nylon 6,6.
Americas is estimated to be the largest market for 1,3-propanediol during the forecast period.
The Americas 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. Also, the presence of DuPont Tate & Lyle Bio Products Company, LLC, the largest manufacturer of bio-based 1,3-propanediol in the region, is driving the market.
The key market players profiled in the report include DuPont Tate & Lyle Bio Products Company, LLC (US), Zhangjiagang Glory Biomaterial Co., Ltd. (China), Zouping Mingxing Chemical Co., Ltd. (China), Haihang Industry Company Ltd. (China), Merck KGgA (Germany), Tokyo Chemical Industry Co., Ltd. (Japan), METabolic EXplorer (France), and Sheng Hong Group Holdings Ltd. (China).
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