Global 1,3 Propanediol Market is Anticipated to Witness High Growth Owing to Rising Application in Polytrimethylene Terephthalate Production
Global 1,3 Propanediol Market is Anticipated to Witness High Growth Owing to Rising Application in Polytrimethylene Terephthalate Production
The global 1,3 propanediol market comprises products such as industrial grade and pharmaceutical grade 1,3 propanediol.

Global 1,3 Propanediol Market is Anticipated to Witness High Growth Owing to Rising Application in Polytrimethylene Terephthalate Production

1,3 propanediol is predominantly used in the manufacturing of polytrimethylene terephthalate which finds application in various industries such as textiles, automotive interiors among others. The rising demand for lightweight and high-performance materials from end-use industries is propelling the consumption of polytrimethylene terephthalate. 1,3 propanediol provides properties like flexibility and mechanical strength to polytrimethylene terephthalate. Additionally, 1,3 propanediol is utilized as a humectant in cosmetic and personal care products owing to its moisture retaining ability.

The Global 1,3 Propanediol Market is estimated to be valued at US$ 424.5 MN in 2024 and is expected to exhibit a CAGR of 9.1% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the 1,3 propanediol market are Tokyo Chemical Industry Co., Ltd., Shenghong Group Holdings, Primient, Haihang Industry, DuPont, Metabolic Explorer, Zhangjiagang Glory Biomaterial Co., Ltd., Zouping Mingxing Chemical Co., Ltd., Shell Chemicals LP, and Merck KGaA.

The rising demand for polytrimethylene terephthalate from end-use industries like textiles and automotive interiors is opening new avenues of growth for 1,3 propanediol manufacturers. Additionally, the increasing utilization of Global 1,3 Propanediol Market Size in cosmetic formulations owing to its humectant properties is fueling market opportunities.

Key players are focusing on geographical expansion plans to consolidate their presence across high growth regions. For instance, Shell Chemicals expanded its 1,3 propanediol production facility in Geismar, Louisiana to cater to the burgeoning demand from North America.

Market Drivers
- Increasing PTMEG consumption: The rising application of polytrimethylene terephthalate (PTMEG) in various end-use industries like textiles, packaging and automotive interiors is the major growth driver for 1,3 propanediol market. PTMEG is lighter and more flexible than polyethylene terephthalate.

Market Restraints
- Availability of substitutes: Alternatives like monoethylene glycol and triethylene glycol that are manufactured from non-renewable feedstock pose competition to 1,3 propanediol.

Segment Analysis
The global 1,3 Propanediol market can be broadly divided into two main segments - petroleum based and bio-based. Within bio-based, the fermentation production segment currently holds the largest market share owing to benefits such as capability to produce high purity 1,3 propanediol, availability of technology at large commercial scales and favorable cost economics as compared to chemical synthesis. Fermentation allows producing 1,3 PDO from renewable raw materials like sugarcane, corn etc. through microbial conversion and offers a sustainable alternative to petroleum-based production methods. This sub-segment is projected to continue its dominance over the forecast period supported by growing demand for green chemicals and sustained technological advancements improving fermentation yields.

Global Analysis
North America currently represents the largest regional market for 1,3 PDO attributed to strong demand from polytrimethylene terephthalate production sector in the region. Primary polyester manufacturers establishing production facilities in the US is augmenting regional growth. Europe is another major consumer owing to large automotive and textile industries. Asia Pacific is anticipated to witness fastest growth owing to burgeoning polyester demand in China, India along with emergence of regional manufacturers. Countries like South Korea and Japan are major PET manufacturers fueling regional market growth. Latin America and Middle East & Africa also offer lucrative prospects for market participants over the coming years.

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