The global 1,3-Propanediol market is estimated to register a CAGR of 10.4% between 2014 and 2021 and the market value is estimated to reach $621.2 million by 2021. The demand for 1,3-Propanediol is a feedstock utilized for manufacture of a number of chemicals and materials. The processes for manufacture of 1,3-Propanediol are chemical synthesis and fermentation. The most adopted process is the fermentation process. The market is relatively newer compared to a lot of other feedstock chemical markets. The demand for bio-based feedstock and the development of newer applications is driving the growth of the market.
1,3-Propanediol finds application in manufacturing of polytrimethylene terephthalate (PTT), polyurethane, cosmetics, personal care and cleaning products among others. The major application is PTT. It accounts for approximately 90.0% of the total market. 1,3-Propanediol is an essential ingredient for the manufacture of PTT. The commercial production of PTT has only been recently undertaken. The demand for PTT is gradually rising, boosting the demand for 1,3-PDO along with it. The growth of 1,3-Propanediol is also driven by the penetration into new application areas. The manufacturers of 1,3-Propanediol have been closely working with end-users for utilization of their product. The use of 1,3-Propanediol in applications such as cosmetics, personal care, cleaning and others segment is expected to register the highest growth. The others segment includes engine coolants, food and beverages, deicing fluids, heat transfer fluids, and unsaturated polyester resins.
The manufacturing technology of 1,3-Propanediol is patent protected. This restricts the entry of newer players in the market. The market has only a few players. Any breakthrough in the development of new technology will allow new players to enter the market. The key player in the market is DuPont Tate & Lyle Bio Products Company, LLC. It is the market leader and captures the majority of the 1,3-Propanediol market.
This report essentially aims to estimate the global market of 1,3-Propanediol for 2014 and to project the demand of the same by 2021. This market research study provides a detailed qualitative and quantitative analysis of the global 1,3-Propanediol market. The research methodology of the report involved the utilization of various secondary sources such as encyclopedia, directories, and databases to identify and collect information useful for this extensive commercial study of the 1,3-Propanediol market. The primary sources included experts from related industries and suppliers who were interviewed to obtain and verify critical information as well as to assess the future prospects of the 1,3-Propanediol market.
Competitive developments of top players in the 1,3-Propanediol market have been discussed in detail. The leading players of this industry are DuPont Tate & Lyle Bio Products Company, LLC (U.S.), Metabolic Explorer SA (France) Zhangjiagang Glory Biomaterial Co. Ltd (China) and Zouping Mingxing Chemical Co., Ltd (China), and others have been profiled with their recent developments and other strategic industry activities.
Scope of the Report
The global 1,3-Propanediol market is analyzed in terms of volume (Tons) and value ($Million) by the classifications mentioned below:
Cosmetics, personal care and cleaning products
Europe, Middle East & Africa