1,3-Propanediol Market Size

The market for 1,3-Propanediol was estimated to be valued at US$ XX Mn in 2021.

The 1,3-Propanediol Market is estimated to grow at a CAGR of XX% by 2028.

The 1,3-Propanediol Market is segmented on the basis of Source, Application, Region.

Based on region, the 1,3-Propanediol Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the 1,3-Propanediol Market are ends , 1,3-Propanediol market size was over USD 450 million in 2020 and is estimated to grow over 8.3% CAGR between 2021 and 2027 owing to rising demand for green & sustainable products. Increasing demand for 1,3-propanediol from cosmetics & personal care application will pave way for the growth opportunity in the market. , 1,3-Propanediol is a bifunctional organic compound, which can be produced either via petrochemical or bio-based routes. 1,3-propanediol is a building block to produce polymers such as polytrimethylene terephthalate & polyurethane along with the production of paints & coatings, resins and adhesives. It can be chemically synthesized from petrochemicals such as propenal or ethylene oxide. The bio-based route includes fermentation of glycerol or fermentation of sugars. Glycerol is the by-product of biodiesel production. , Increasing inclination towards sustainable development and green economy across the globe is set to play key role in the 1,3-propanediol market growth during the forecast period. The increasing demand for bio-based products and emphasize on R&D activities is driving the demand for 1,3-propanediol for various application including personal care & cosmetics. The trend towards the adoption of organic & green cosmetics products is likely to spur the demand for 1,3-propanediol for applications such as, solvent, preservative booster and humectant. , Growth Drivers: North America: Growing demand for advanced bio-based polymers Europe: Growing penetration of bio-based products and Stringent regulations to foster the industry growth Asia Pacific: Increasing Biodiesel production to pave way for Bio-based routePitfalls & Challenges:Availability of substitutesTo get details on how to order this report click here , In 2020, the cosmetics market is estimated to be valued over USD 335 billion and is expected witness steady growth during the forecast period. Increasing spending on beauty products, acceleration of urbanization, shifting consumer interest towards innovative and premium products, penetration of e-commerce in the industry, and the growth of upper middle classes. This in turn is set to drive the 1,3 propanediol market share from personal care & cosmetics industry. , Increasing demand for eco-friendly alternative to petroleum-based products to spur the demand for bio-based 1,3-propanediol during the assessment period , The 1,3-propanediol market is segmented by source into bio-based and petrochemical-based. Bio-based segment accounted for a largest revenue share in the market, valued at USD 363.47 Million in 2020. Growing environmental awareness, increasing demand for bio-based products, and government intensives is expected to augment the market growth. , The demand for biodiesel increased significantly in recent past driven by favorable government initiatives and mandates such as, European Union set up a mandator biofuel target of 10% for the European transport sector in 2020. Increasing biodiesel production particularly in Asia-Pacific and Europe has resulted into increased availability of glycerol and reduction in price. This may boost the development of the glycerol fermentation pathway. , Increasing demand for bio-based polyurethane for various applications to augment the market growth , The market is bifurcated on the basis of application as polyurethane, polytrimethylene terephthalate (PTT), personal care & detergents, pharmaceutical, food & beverages, heat transfer fluid, inks and coatings and others. Polyurethane application was valued at USD 80.90 million in 2020. Increasing demand for high performance and bio-based polymer textile, footwear and automotive application will augment the 1,3-propanediol market revenue. Moreover, increasing bio-based polyurethane coatings, bio-based waterproof breathable films, bio-based TPU outsoles and bio-based synthetic leather uppers will augment the market growth. , The long-term growth of the market is set to be optimistic owing to significant investment for Research & development and capacity expansion in bio-based product universe. Furthermore, favorable government policies for green economy and sustainable development, changing lifestyle and economic growth will support the growth of the 1,3-propanediol market. , Booming Pharmaceutical & Cosmetics industry in Asia-Pacific to surface growth opportunity , Asia-Pacific was valued at USD 148.8 million in 2020 and is anticipated to register a CAGR of 9.6% during the review period. The market growth is attributed to increasing manufacturing of personal care & cosmetic product in Asia-Pacific region such as in China and India driven by increasing consumer spending and growing affluent population. Furthermore, growing automotive industry coupled with increasing investment in construction activities to spur the 1,3-propanediol market sales. , In sync with the trend the companies in the region are adapting to new technologies and are looking for renewable and sustainable products. Furthermore, favorable government regulations and mandated regarding biodiesel in countries such as China, India, Indonesia, and Malaysia are leading to increase in biodiesel production thereby contribute to higher glycerol production and in turn will assist the 1,3-Propanediol market growth. In countries such as China and Malaysia several manufacturers are investing in R&D for process development and building production units of 1,3-propanediol to meet the growing demand in the Asia Pacific. , Strategies such as mergers, collaboration and capacities are implemented to enhance the competitiveness in the market , The market is consolidated in nature comprising of a very limited players, primarily owing to patented production technologies. Key players operating in the 1,3-Propanediol industry include Dupont, Tate & Lyle Bio Products Company, Haihang Industry Co., Ltd, METabolic Explorer, Zouping Mingxing Chemical Co., Ltd, Zhangjiagang Huamei Biomaterial Co., Ltd, Hunan Rivers Bioengineering Co., Ltd, and Shangdong Mingxing. Leading market participants such as Dupont, Tate & Lyle Bio Products Company and METabolic Explorer are emphasizing on investing on increasing production capacities to meet the increasing demand for product in the market. , In 2019, DSM announced that it formed a strategic alliance with METEX NØØVISTA, the subsidiary of METABOLIC EXPLORER to market bio-based cosmetic grade 1,3-propanediol produced at METEX NØØVISTA production site at Carling Saint Avold, France with an initial annual capacity of 5 KT. , In 2018, DuPont Tate & Lyle Bio Products Company, LLC announced its plan to increase the production capacity of bio-based 1,3-propanediol at its Loudon, Tennessee manufacturing facility by 35 million pounds annually. , KEY MARKET SEGMENTS , By Source , Bio-Based , Petrochemical-Based , By Application , Polyurethane , Textile , Footwear , Automotive , Furniture , Others , Polytrimethylene Terephthalate (PTT) , Personal Care & Detergents , Pharmaceutical , Food & Beverages , Heat Transfer Fluid , Inks and Coatings , Others , By Region , North America , Europe , Asia Pacific , Latin America , Middle East and Africa.