Global 1,3 Propanediol Market Size To Exceed USD 1049.8 Million By 2033: Market Growth Report

Global 1,3 Propanediol Market Size To Exceed USD 1049.8 Million By 2033          

According to a research report published by Spherical Insights & Consulting, The Global 1,3 Propanediol Market Size is Expected to Grow from USD 422.5 Million in 2023 to USD 1049.8 Million by 2033, at a CAGR of 9.53% during the forecast period 2023-2033. 

Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the Global 1,3 Propanediol Market Size, Share, and COVID-19 Impact Analysis, By Product (Conventional and Bio-based), By Application (Polytrimethylene Terapthalate and Polyurethane), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.

The global supply, demand, and pricing of 1,3-propanediol (PDO), a flexible chemical intermediate utilized in numerous sectors, are referred to as the PDO market.  The market is expanding because of its use in polymers, cosmetics, and bio-based materials; environmental concerns are driving the rise of bio-based PDO. Trimethylene glycol and propane-1,3-diol are other names for 1,3-propanediol (1,3-PD), a chemical molecule that is a member of the diol family. The manufacture of polymers like polytrimethylene terephthalate (PTT), which is utilized in carpets and textiles, is one of the many uses for this precious chemical.  Drugs, lubricants, food items, cosmetics, and other compounds can all be made with 1,3-PD. Furthermore, the global market for 1,3-propanediol is anticipated to be driven by shifting consumer preferences toward bio-based products. For a variety of reasons, businesses are concentrating on making their products more renewable.  The demand for bio-based products has grown as a result of the need to lower carbon emissions and provide more sustainable goods. However, regulatory obstacles, the availability of less expensive alternatives, and high production costs. 

The bio-based segment dominated the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the product, the global 1,3 propanediol market is divided into conventional and bio-based. Among these, the bio-based segment dominated the largest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. Biomass-based production has unique qualities that make it a desirable choice for environmentally conscious enterprises.  By minimizing greenhouse gas emissions and reliance on petrochemical feedstocks, it lessens environmental impact and dependence on finite fossil resources.

The polytrimethylene terapthalate segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the application, the global 1,3 propanediol market is divided into polytrimethylene terapthalate and polyurethane. Among these, the polytrimethylene terapthalate segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The remarkable qualities of the product, like its tenacity, stain resistance, and environmental sustainability, are responsible for this.  In the creation of several composites, adhesives, laminates, and moldings, PTT is an essential polymer.

North America is anticipated to hold the highest share of the global 1,3 propanediol market over the projected period.

North America is anticipated to hold the highest share of the global 1,3 propanediol market over the projected period. This is due to the existence of numerous personal care and cosmetic firms, including Maybelline New York, Procter & Gamble, Colgate-Palmolive Company, Avon, Unilever, and Johnson & Johnson Private Limited, the North American market is anticipated to expand. Since it efficiently replaces butylene and glycol as a more skin-friendly and environmentally friendly substitute, the personal care industry has shown a strong desire for it in the U.S. market.  The local market for personal care products is continuously expanding.

Asia Pacific is estimated to grow at the fastest CAGR of the global 1,3 propanediol market during the forecast period. Every major region requires bioplastics, but the Asia Pacific region has the highest demand due to supportive laws and policies that promote the use of bio-based goods.  This is due to the country's growing personal care products industry. The market grew moderately to slowly as a result of rising raw material costs for the production of conventional and biobased 1,3 propanediol. 

Company Profiling

Major vendors in the global 1,3 propanediol market are DuPont, Metabolic Biopolymer, Zhangjiagang Glory Biomaterial Co., Ltd., Zouping Mingxing Chemical Co., Ltd., Shell Chemicals LP, Tokyo Chemical Industry Co., Ltd., Shenghong Group Holdings, Primient, Haihang Industry, and others. 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Market Segment

This study forecasts revenue at the global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global 1,3 propanediol market based on the below-mentioned segments: 

Global 1,3 Propanediol Market, Product 

• Conventional
• Bio-based

Global 1,3 Propanediol Market, By Application    

• Polytrimethylene Terapthalate
• Polyurethane

Global 1,3 Propanediol Market, By Regional 

• North America 
  • US
  • Canada
  • Mexico
• Europe 
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America 
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa 
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa