According to a new market research report, “1,3-Propanediol (PDO) Market By Applications (PTT [Polytrimethylene Terephthalate], Polyurethane, Cosmetic, Personal Care & Home Cleaning & other Applications) & Geography - Global Market Trends & Forecasts to 2019” published by MarketsandMarkets (www.marketsandmarkets.com), 1,3-propanediol market will grow from an estimated $157 million in 2012 to $560 million in 2019 with a compound annual growth rate of 19.9% during the period of 2012 to 2019.
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Major application area of 1,3-propanediol is polytrimethylene terephthalate (PTT) manufacturing which is used for carpets and some industrial textile applications due to its excellent properties. Other applications of 1,3-PDO include polyurethane manufacturing, cosmetic, personal care & home cleaning products, engine coolant, heat transfer fluid, and deicing fluids production.
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At present the market is dominated by DuPont Tate & Lyle (U.S.) which is the only bulk producer of 1,3-PDO. There are few Chinese companies but they produces at very small scale. Some new players such as France-based Metabolic Explorers and China-based Huamei Biomaterial are going to enter into the market in near future. With increase in 1,3-PDO production, PTT production will also rise. Many of the 1,3-PDO producers will go for upward integration and start producing PTT by themselves. Some polyethylene terephthalate (PET) producers are also like to start PTT production since the cost of conversion of a PET facility to PTT is in between 10% to 20% of the cost of building a new plant.
In terms of geographical markets, Americas region is the largest market followed by Asia-Pacific and then Europe, Middle East & Africa (EMEA). Asia-Pacific is the highest growing region where by 2019 the market will expand by almost eleven times of present size. At country level, U.S. has the maximum revenue share.
Increasing demand of bio-based chemicals, growing application areas and increasing population are the major drivers of the global 1,3-PDO market. 1,3-PDO derived from bio-based feedstock is environment friendly which is acting as supporting factors for 1,3-PDO market growth. Europe is the largest market for cosmetics, personal care, and home cleaning products and is experiencing the high growth rate. Demand of nature-based (bio-based) ingredients will drive the growth of 1,3-PDO market in Europe.
The report segments the global 1,3-propanediol by application, end use, and geography. It also focuses on market share analysis, and market metrics like drivers, restraints and opportunities. With 78 market tables/figures, it breaks and forecasts the market in every possible way.
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