Dublin, May 16, 2024 (GLOBE NEWSWIRE) -- The "Global 1,3-Propanediol Market (PDO) by Production (Bio-based PDO, Petrochemical-based PDO), Distribution Channel (Offline, Online), Application - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The 1,3-Propanediol Market size was estimated at USD 789.17 million in 2023, USD 860.43 million in 2024, and is expected to grow at a CAGR of 10.98% to reach USD 1,636.74 million by 2030.
The rising need for 1,3-propanediol in the cosmetic industry and the growing demand for sustainable and eco-friendly materials is propelling the growth of 1,3-propanediol. However, the complex bioproduction of 1,3-propanediol hinders their adoption. The ongoing R&D of 1,3-propanediol to find new applications and the strategic contracts for expanding the production capacity of 1,3-propanediol offer lucrative opportunities for the expansion of the 1,3-Propanediol market
The PDO market in the Americas, particularly in the United States, is showcasing steady growth, driven by advancements in bio-based manufacturing processes and a strong focus on sustainability. Stringent environmental regulations and an increasing demand for eco-friendly products have increased interest in bio-based 1,3-Propanediol in the American region. North America showcases development in PDO applications, especially in cosmetics, personal care, and green polymers. Asia Pacific is showcasing rapid growth in the 1,3-propanediol market, primarily fueled by the booming industrial sectors in countries including China and India.
The Asia-Pacific region has become a global manufacturing powerhouse, with significant investments in textiles, plastics, and automotive industries, all of which utilize PDO. The increasing consumer awareness towards sustainable and bio-based products, coupled with government initiatives promoting green chemicals, has further propelled the market growth in this region.
Moreover, a large population base and rising disposable income increase demand for personal care products and eco-friendly materials, boosting the PDO market. A well-developed chemical industry and high environmental standards characterize the 1,3-propanediol market in the EMEA region. Europe has stringent regulations on chemical production and use, promoting the adoption of sustainable and bio-based chemicals such as PDO
The focus on reducing carbon footprint and the European Union's commitment to green economy initiatives have significantly influenced the PDO market dynamics. In the Middle East and Africa, there are signs of growing interest in PDO, particularly owing to the diversification of the economy and increased investment in chemical and material sciences research.
Market Trends by Segment
- Production: Increasing preference for bio-based PDO owing to the demand for greener and sustainable products
- Application: Growing use of 1,3-Propanediol in the production of polytrimethylene terephthalate (PTT) to enhance the material's durability and elasticity
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 192 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $860.43 Million |
| Forecasted Market Value (USD) by 2030 | $1636.74 Million |
| Compound Annual Growth Rate | 10.9% |
Market Dynamics
Drivers
- Increasing need for 1,3-Propanediol in cosmetic industry
- Growing demand for sustainable and eco-friendly materials
Restraints
- Complex bioproduction of 1,3-Propanediol
Opportunities
- Ongoing R&D of 1,3-Propanediol to find new applications
- Strategic contracts for expanding production capacity of 1,3-Propanediol
Challenges
- Preference for alternative materials
Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis
Companies Featured
- Archer Daniels Midland Company
- Central Drug House (P) Ltd.
- Chongqing Kunlun Chemical Co., Ltd
- Connect Chemicals
- du Pont de Nemours and Company
- Haihang Industry Co., Ltd.
- Hunan Rivers Bioengineering Co., Ltd.
- Merck KGaA
- METabolic EXplorer
- Otto Chemie Pvt. Ltd.
- Qingdao Fengchen Technology and Trade Co., Ltd.
- Salicylates And Chemicals Pvt. Ltd
- Shanghai Jinjinle Industry Co., Ltd
- Shell PLC
- TCI Chemicals (India) Pvt. Ltd.
- Thermo Fisher Scientific, Inc
- Tokyo Chemical Industry Co., Ltd.
- Zhangjiagang Glory Biomaterial Co., Ltd.
- Zouping Mingxing Chemical Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/un5vkp
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