Dublin, Dec. 10, 2019 (GLOBE NEWSWIRE) -- The "1,3-Propanediol (PDO) Market by Application (Polytrimethylene terephthalate (PTT), Cosmetics, Personal Care & Cleaning Products, Polyurethane (PU)) and Region (Americas, APAC, Europe, Middle East & Africa (EMEA)) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The 1,3-propanediol market size is estimated to grow from USD 490 million in 2019 to USD 870 million by 2024, at a CAGR of 12.2%.
The market growth is driven mainly by the increasing demand for polytrimethylene terephthalate (PTT) in the manufacturing of carpets and apparel due to its good physical properties and high mechanical performance. PTT is preferred over polymers such as nylon 6 and nylon 6,6 in these applications. 1,3-propanediol is the major feedstock for manufacturing PTT.
Cosmetics, personal care, and cleaning products application segment is estimated to witness the highest growth rate between 2019 and 2024
The cosmetics, personal care, and cleaning products application segment is estimated to witness the highest growth rate between 2019 and 2024. Increasing usage of 1,3-propanediol by major manufacturers of these products such as L'Oreal (France), Avon Products, Inc. (UK), Unilever (UK), Method Products (US) and Este Lauder Inc. (US) is driving market growth.
1,3-propanediol market in EMEA to witness strong growth during the forecast period
The EMEA 1,3-propanediol market is estimated to witness significant growth during the forecast period. The growing demand for bio-based products in the region and the increasing usage of 1,3-propanediol by manufacturers in the growing cosmetics, personal care & cleaning products industry are driving the 1,3-propanediol market in the region.
Additionally, the strong distribution network of DuPont Tate & Lyle Bio Products Company, LLC (US) in countries of Europe and Middle East & Africa such as Austria, Belgium, Bulgaria, Croatia, the Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Israel, Italy, Lithuania, the Netherlands, Norway, Poland, Portugal, Russia, Slovakia, Spain, Sweden, Switzerland, Ukraine, the UK, and Turkey is estimated to positively influence the demand for 1,3-propanediol in the region.
Competitive Landscape
The key players profiled in the report include DuPont Tate & Lyle Bio Products Company, LLC (US), Zouping Mingxing Chemical Co., Ltd. (China), Zhangjiagang Glory Biomaterial Co., Ltd. (China), Hunan Rivers Bioengineering Co., Ltd. (China), Haihang Industry Company Ltd. (China), Tokyo Chemical Industry Co., Ltd. (Japan), Merck KGaA (Germany), and Zhangjiagang Huamei Biomaterial Co., Ltd. (China). Players planning to enter the 1,3-propanediol include Metabolic Explorer (France) and Sheng Hong Group Holdings Ltd. (China).
Research Coverage
This report segments the market for 1,3-propanediol based on application and region and provides estimations for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, expansions, innovations, and partnerships associated with the 1,3-propanediol market.
Reasons to Buy this Report
This research report is focused on various levels of analysis - industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the 1,3-propanediol market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on 1,3-propanediol offered by top players in the global market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and innovation in the 1,3-propanediol market
- Market Development: Comprehensive information about lucrative emerging markets the report analyzes the markets for 1,3-propanediol across regions
- Market Diversification: Exhaustive information about new application areas and recent developments in the global 1,3-propanediol market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the 1,3-propanediol market
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the 1,3-Propanediol Market
4.2 1,3-Propanediol Market, By Region
4.3 Americas 1,3-Propanediol Market, By Application
4.4 1,3-Propanediol Market, By Application
5 Market Overview
5.1 Introduction
5.2 Evolution
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 High Demand for Environment-Friendly Bio-Based Products
5.3.1.2 Increasing Use in Resin Application
5.3.1.3 Growing Demand for PTT
5.3.2 Restraints
5.3.2.1 Availability of Substitutes With Comparatively Lower Cost
5.3.3 Opportunities
5.3.3.1 High Growth Potential in Emerging Economies
5.3.3.2 New Applications Areas of PDO
5.3.4 Challenges
5.3.4.1 Low Awareness of 1,3-Propanediol in Industrial Application
5.4 Patent Analysis
5.5 Raw Material Analysis
5.5.1 Glycerol
5.5.2 Corn
5.6 Porter's Five Forces Analysis
5.6.1 Threat of Substitutes
5.6.2 Bargaining Power of Suppliers
5.6.3 Bargaining Power of Buyers
5.6.4 Threat From New Entrants
5.6.5 Intensity of Competitive Rivalry
6 1,3-Propanediol Market, By Application
6.1 Introduction
6.2 Polytrimethylene Terephthalate (PTT)
6.2.1 Demand for 1,3-Propanediol in Ppt Application Driven By Apparel and Carpet Industry
6.3 Cosmetics, Personal Care, and Cleaning Products
6.3.1 Growing Demand for Natural and Innovative is Driving the Market in This Segment
6.4 Polyurethane
6.4.1 Growing Demand for Automobiles and Footwear Drives the Demand for PDO in PU Application
6.5 Others
7 1,3-Propanediol Market, By Region
7.1 Introduction
7.2 Americas
7.3 APAC
7.4 Europe, Middle East & Africa
8 Competitive Landscape
8.1 Overview
8.2 Market Share Analysis
8.3 Competitive Situation and Trends
8.3.1 Expansion
8.3.2 Innovation
8.3.3 Partnership
9 Company Profile
9.1 Dupont Tate & Lyle Bio Products Company, LLC
9.1.1 Business Overview
9.1.2 Products Offered
9.1.3 Recent Developments
9.1.4 SWOT Analysis
9.2 Zhangjiagang Glory Biomaterial Co. Ltd.
9.3 Zouping Mingxing Chemical Co. Ltd.
9.4 Haihang Industry Co. Ltd.
9.5 Hunan Rivers Bioengineering Co. Ltd.
9.6 Merck KGaA
9.7 Tokyo Chemical Industry Co. Ltd.
9.8 Zhangjiagang Huamei Biomaterial Co. Ltd.
9.9 Metabolic Explorer
9.10 Sheng Hong Group Holdings Ltd.
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