According to study, “World 1,3-Propanediol (PDO) Market Research Report 2024(covering USA, EU, China, South East Asia, Japan and etc)” the key companies operating in the world 1,3-propanediol (PDO) market are DuPont Tate & Lyle Bio Products Company LLC, Royal Dutch Shell, Zhangjiagang Glory Biomaterial Co. Ltd., Metabolic-Explorer SA, Salicylates And Chemicals Pvt. Ltd., ShangdongMingxing, Shanghai Demao, Haihang Industry Company Ltd., Chongqing Kunlun Chemical Co., Ltd., Hunan Rivers Bioengineering Co., Ltd., Tokyo Chemical Industry Co., Ltd., Henan Tianguan, Chenneng, DOW.Key vendors are introducing products witha high storage capacity definitely for applications that need to store huge amounts of data for instancedrones, action cameras, and video surveillance systems. The trend of taking high-definition pictures & video and implementation of automation technologies across many sectors are driving the need for high-capacity 1,3-Propanediol.
1, 3-propanediol is a colorless liquid which issoluble in water. It is produced either by hydration of acrolein or by hydroformylation of ethylene oxide. It is also produced by renewable sources for instance biodiesel and corn. Glycerol is a major raw material for manufacturing of 1,3 PDO, which is produced as a by-product during biodiesel manufacturing. It imparts unique features such as superior starching toPolytrimethylene terephthalate (PTT) and elastic recovery. It is mainly used as a feedstock in the production of several chemicals & materials. It is also used in the formulation of variety of products such as laminates, adhesives, coatings and moldings.
Based on grade type, 1,3-propanediol (PDO) market is segmented into pharmaceutical grade, technical grade and others. Based on method type, market is segmented into traditional methods and bio-based methods. Traditional methods are expensive, cumbersome and have a higher environmental impact while bio-based methods have some advantages such as lower cost, product biodegradability, low environmental impact, less energy used and non-toxic process. In addition, based on application, market is segmented into PTT, personal care & cleaning products, cosmetics, Polyurethane (PU) and others (engine coolants, heat transfer fluid and de-icing fluid). PTT segment holds major share owing to its long-lasting, fade resistance, good stretch & recovery, quick-drying, and wrinkle resistance properties.
The 1,3-propanediol (PDO) market is driven by rise in use in resin application, followed by high demand for environment-friendly &bio-based products, rise in production of biodiesel,increase in PU penetration across various end-use industries, growth in environmental regulations,rise in polyester applications across diverse industries, surge in demand for cosmetics & personal care or household care products, growth in innovative technologies, rise in investment in the development of retail sector and growth in demand for PTT. However, availability of substitutes with comparatively lower cost and lack of awareness about the benefits of 1,3-propanediol in industrial application may impact the market. Moreover, new applications areas of PDO and high growth potential in emerging economies are key opportunities for market.
Based on geography, USA country holds major share in 1,3-propanediol (PDO) market owing to favorable regulatory scenario in the country. China country is expected to witness higher growth rate due to increase in construction spending, growth in automotive industry and low raw material prices & cheap labor over the forecast period. The market is anticipated to reach US $870 million by 2024, at a CAGR of 12.2% from US $490 million in 2019.
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Ankur Gupta, Head Marketing & Communications