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1,3-Propanediol Market worth $621.2 Million by 2021
The report "1,3-Propanediol (PDO) Market by Applications (PTT, Polyurethane, Cosmetic, Personal Care & Home Cleaning & Others) & Geography - Global Market Trends & Forecasts to 2021" defines and segments the global 1,3-Propanediol market with analysis and forecasting in terms of volume and value. The 1,3-Propanediol market volume expected to grow from an estimated $310.5 million in 2014 to $621.2 million by 2021, with a CAGR of 10.4% between 2014 and 2021.
Browse 75 market data tables and 43 figures spread through 102 pages and in-depth TOC on “1,3-Propanediol (PDO) Market by Applications (PTT, Polyurethane, Cosmetic, Personal Care & Home Cleaning & Others) & Geography - Global Market Trends & Forecasts to 2021”
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The 1,3-Propanediol market is projected to grow at a CAGR of 10.4% between 2014 and 2021, in terms of value. The largest application area of 1,3-Propanediol is poly trim ethylene terephthalate (PTT). The applications of 1,3-Propanediol are increasing. It is slowing replacing other feedstock chemicals. This is driving the growth of the market. Also, the adoption of bio-based chemicals to reduce harmful environmental effects is the current trend that is driving the 1,3-Propanediol market and is boosting the penetration into new application segments.
The consumption of 1,3-Propanediol is the highest in the Americas region. The consumption of 1,3-PDO in the region accounted for approximately 75.0% of the total market in 2013 in terms of volume. The consumption of 1,3-PDO is driven by the PTT industry in the region. 1,3-PDO is an essential ingredient for the manufacture of PTT. The key player of the market DuPont Tate & Lyle is housed in the region. It is largest producer of 1,3-PDO and PTT. Its consumes majority of the 1,3-PDO manufactured for production of PTT. This is the main factor driving the growth of 1,3-PDO in the region.
The top companies in the 1,3-Propanediol market include DuPont Tate & Lyle Bio Products Company, LLC (U.S.), Metabolic Explorer SA (France) Zhangjiagang Glory Biomaterial Co. Ltd (China) and Zouping Mingxing Chemical Co., Ltd (China) among others. The 1,3-Propanediol market recorded a number of major agreements being entered into by the key players.
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