Global 1,3 Propanediol Market Segmentation, By Source (Bio-Based, Petrochemical-Based), Applications (Polyurethane, Polytrimethylene Terephthalate (PTT), Personal Care and Detergents, Heat Transfer Fluids, Inks and Coatings) – Industry Trends and Forecast to 2031.
1,3 Propanediol Market Analysis
The 1,3 propanediol is expected to rise due to its wide range of applications and uses in a variety of industry including cosmetics, personal care and cleaning products, the petrochemical based PDOs are another products that accounted rise in the profits by 20% profits of market shares globally due to the enhanced efficiency and performance. These applications are creating vast opportunities for the market across the globe.
1,3 Propanediol Market Size
Global 1,3 propanediol market size was valued at USD 658.85 million in 2023 and is projected to reach USD 1412.29 million by 2031, with a CAGR of 10.00% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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1,3 Propanediol Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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DuPont (U.S.), Tate & Lyle (U.K.), Zouping Mingxing Chemical Co. Ltd. (China), Merck KGaA (Germany), Alfa Aesar (U.S.), Thermo Fisher Scientific (U.S.), Connect Chemicals (Germany), MakingCosmetics Inc. (U.S.), trc-canada (Canada), Tokyo Chemical Industry (Japan), Metabolic Explorer. (France), Haihang Industry Co., Ltd. (China), Zhangjiagang Glory Biomaterial Co., Ltd. (China)
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Market Opportunities
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1,3 Propanediol Market Definition
1,3-Propanediol is a colorless and, odorless liquid that is soluble in water. It can be used as a solvent or an intermediate in manufacturing plastics, resins and other chemicals. It is also used as a humectant in cosmetics.
1,3 Propanediol Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High demands for the bio-based products
The high demands for the bio-based products such as cosmetics and other end user industries is driving the growth of the market over the forecasted period. The rising awareness of the consumers coupled with the depletion of conventional resources are the main factors that have led to the rise in demands of eco-friendly solutions, the bio-based propanediol utilizing renewable feedstock like crude glycerin and corn sugar is expected to create huge demands du to their eco-friendly nature. All these factors are driving the growth of the market over the forecasted period.
Opportunities
- Technological Advancements and Developments
The rise in the resin applications such as flavoring agents, and anti-inflammatory and cathartic agents is the factor creating lucrative growth opportunities for the market over the forecasted period. Moreover, the rise in the demand of the polytrimethylene terephthalate (PTT) across various end users is also a factor propelling the growth of the market. The rising favorable government policies supporting the biodiesel production in order to secure eco-friendly emission solutions is also creating growth opportunities for the market over the forecasted period
Restraints/Challenges
- Lack of awareness
The lack of awareness regarding the benefits of 1,3 propanediol across various application such as cosmetics and cleaning is the primary factor will create hindrances for the growth of the ,3 propanediol market.
- Fluctuations in Raw Material Prices
The inconsistent raw material prices have a direct negative impact on the overall market’s growth. As a result, these fluctuations will pose a major challenge to the growth rate of the 1,3 propanediol market.
This 1,3 propanediol market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the 1,3 propanediol market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by considering the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on 1,3 Propanediol Market
The recent outbreak of coronavirus had a negative impact on the 1,3 propanediol market. Significant economic disruptions also occurred in various countries. Lockdowns enacted by various governments caused various manufacturing and production units to shut down. The market faced trouble in supply chains, lesser availability of workforce, fluctuations in prices and availability of raw materials which hampered the market largely. The market is estimated to revive as imposed restrictions have drawn back and the operations will continue, the market is estimated to expand.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
1,3 Propanediol Market Scope
The 1,3 propanediol market is segmented on the basis of source and applications. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Source
- Bio-Based
- Petrochemical-Based
Applications
- Polyurethane
- Polytrimethylene Terephthalate (PTT)
- Personal Care and Detergents
- Heat Transfer Fluids
- Inks and Coatings
1,3 Propanediol Market Regional Analysis
The 1,3 propanediol market is analyzed and market size insights and trends are provided by country, type and end users as referenced above.
The countries covered in the 1,3 propanediol market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance due to the increasing prevalence of the market players within the region.
Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2024-2031, due to the rising demands of the1,3 propanediol across various applications such as cosmetics, skin care products and cleaning chemicals within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
1,3 Propanediol Market Share
The 1,3 propanediol market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to 1,3 propanediol market.
1,3 Propanediol Market Leaders Operating in the Market Are:
- DuPont (U.S.)
- Tate & Lyle (U.K.)
- Zouping Mingxing Chemical Co. Ltd. (China)
- Merck KGaA (Germany)
- Alfa Aesar (U.S.)
- Thermo Fisher Scientific (U.S.)
- Connect Chemicals (Germany)
- MakingCosmetics Inc. (U.S.)
- trc-canada (Canada)
- Tokyo Chemical Industry (Japan)
- Metabolic Explorer (France)
- Haihang Industry Co., Ltd. (China)
- Zhangjiagang Glory Biomaterial Co., Ltd. (China)
Latest Developments in 1,3 Propanediol Market
- In 2021, METabolic Explorer, a cleantech biochemical company that develops and industrializes competitive and sustainable fermentation processes offering alternatives to petro chemistry had an acquisition with Ajinomoti Animal Nutrition Europe.
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