The 1,3-Propanediol Market size is projected to reach USD 870 million by 2024 from the estimated USD 490 million in 2019, at a CAGR of 12.2% between 2019 and 2024. 1,3-propanediol (PDO) is a key feedstock in the manufacture of polytrimethylene terephthalate (PTT).
Request Report Sample @ http://bit.ly/2L6OiBa
It can be used as a substitute to petrochemical-based products such as propylene glycol, butylene glycol, and glycerin in the formulation of cosmetics, personal care, laundry, and cleaning products. The demand for environmentally-friendly products has increased the utilization of bio-based PDO.
Based on application, the 1,3-propanediol market is segmented into polytrimethylene terephthalate (PTT); polyurethane (PU); cosmetics, personal care, and cleaning products; and others. The others segment comprises engine coolants, food & beverage, pharmaceutical & dietary supplement, de-icing fluid, heat transfer fluid, and unsaturated polyester resins.
PTT application accounted for the largest share of the market in 2018. This is because of the growing demand for PTT in carpet and apparel applications. 1,3-propanediol is the main feedstock in the manufacture of PTT.
The Americas is estimated to be the largest market for 1,3-propanediol during the forecast period. This is due to the presence of the largest manufacturer of 1,3-propanediol, DuPont Tate & Lyle Bio Products Company, LLC (US), in the region.
There is increasing awareness about the need to reduce GHG emissions and growing demand for a sustainable product, which drives the consumption of 1,3-propanediol in the region. The major applications of 1,3-propanediol in the region are cosmetics, personal care & cleaning products, PTT, PU, and de-icing fluids.
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 KGgA (Germany), and Zhangjiagang Huamei Biomaterial Co., Ltd. (China) are the leading manufacturers of 1,3-propanediol.
Download PDF Brochure @ http://bit.ly/2L1tF9y
These players are focusing on innovation to cater to the specific demands of end users. They have also adopted the strategy of partnership and expansion to increase their market reach, enhance their product portfolio, and strengthen their market positions.
Reference:
For more Info Visit Blog: https://chemicalsresearchmarket.wordpress.com/blog/
Comments