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1,3-Propanediol Market

1,3-Propanediol Market Analysis By Source (Bio-based PDO & Petrochemical-based PDO) By Application (Personal Care and Cosmetics, Cleaning Products & Pharmaceuticals) By End-Use & By Region – Global Market Insights 2022-2032

Analysis of 1,3-Propanediol market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Global 1, 3 Propanediol Market Snapshot

The global 1, 3 propanediol market is estimated at USD 935.2 Million in 2022 and is forecast to surpass USD 2,789.8 Million by 2032, growing at a CAGR of 11.5% from 2022 to 2032.

Report Attributes

Details

Base Year Value (2021A)

USD 842.5 Million

Estimated Year Value (2022E)

USD 935.2 Million

Projected Year Value (2032F)

USD 2,789.8 Million

Global Growth Rate (2022-2032)

 CAGR 11.5%

North America Market Share in 2021

~27%

North America Growth Rate (2022-2032)

CAGR ~11.9%

Collective Value Share (US, China, India) 2022: Top 3 Countries

~39%

Top 5 Companies Market Share in 2021

~25%

Key Companies Profiled

  • Metabolic Explorer
  • Merck KGaA
  • Dupont Tate & Lyle Bio Products Company
  • Zhangjiagang Glory Chemical Industry Co. Ltd.
  • Haihang Industry
  • Hunan Rivers Bioengineering Co. Ltd.
  • Sheng Hong Group Holdings Ltd.
  • Other Market Players

The global 1, 3 propanediol market is likely to create an absolute dollar opportunity of USD 1,854.6 Million by the end of 2032. The global 1, 3 propanediol market holds ~2% of the global solvent market.

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2017-2021 Global 1, 3 Propanediol Market Outlook in Comparison to 2022-2032 Growth Forecast

The 1, 3 propanediol market is used as building blocks in the production of polymers like PTT i.e. polytrimethylene terephthalate, as it is a colorless viscous liquid and is soluble in water. 1, 3 propanediol is used as a thermoplastic and an engineering plastic and is used as an intermediate in the production of engineering plastics like PU and PTT. The increasing demand from the end-user industry of engineering plastics is likely to support the demand for 1, 3 propanediol market during the forecast years of 2022-2032.

Companies associated with 1, 3 propanediol market are looking to expand their polyurethane production across the regions attributed to the escalating demand. Key players are focusing on enhancing their production capacities

1, 3 propanediol market is used as composites, adhesives, laminates, coatings, and moldings. Moreover, the polyester yarns and fabrics made from PBT, PET, and PTT fibers are mainly used for engineering applications like mobile phone housings, automotive parts, consumer products etc. In addition to this, the rising production of engineering plastics and of PU made with propanediol market is likely to drive the 1, 3 propanediol market over the forecast period of 2022-2032.

Fact.MR projects the 1, 3 propanediol market is expected to witness exhibiting growth at 11.5% CAGR during 2022 and 2032 in comparison to a CAGR of 8.5% with which it grew from 2017 and 2021.

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High Demand for Environment Friendly, Bio-Based Products to Fuel Market Demand

Consumers globally are preferring bio-based products. The companies are innovating and marketing sustainable products owing to the enhanced government regulations, rising awareness of consumers, coupled with the depletion of conventional sources. Thus, bio-based PDO utilizing renewable feedstock like crude glycerin and corn sugar is expected to be in great demand, thereby making it more sustainable. Therefore, the escalating demand for eco-friendly, bio-based products is estimated to support market demand by 1.3X of current levels during the forecast period of 2022-2032.

Moreover, the 1, 3 propanediol is also finding its enhanced application in feedstock, which is likely to lead the increase in production and consumption of propanediol in coming years. Thus, the growing use of propanediol as feedstock in multiple applications is expected to drive the growth of the 1, 3 propanediol market in coming years.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Availability of Substitutes at Comparatively Lower Cost to restrain Market Growth

Petroleum based glycols like butylene glycol, propylene glycol, and glycerin are being replaced by 1, 3 propanediol. The low cost availability of these products than propanediol to be used in personal care and cleaning products, cosmetics, pharmaceutical & dietary supplements, food & flavor applications etc. is restraining market growth by 0.4X over the years. In addition to this, the advancement of bio-based propanediol is difficult in countries with no regulations concerning the adoption of bio-based products in multiple end-use industries.

The Lack of Awareness about Benefits of 1, 3-PDO in Industrial Applications to Represent Significant Challenges for the Market

The use of 1, 3 propanediol is very limited to personal care products, cosmetics, and pharmaceutical products in developing and emerging economies. Moreover, consumers are not fully aware of the application and benefits of 1, 3 propanediol in applications in food & flavors etc. Thus, this lack of awareness is likely to create challenges in the growth of 1, 3 propanediol market over the assessment period of 2022-2032.

Competitive Landscape: Top Companies in 1, 3 Propanediol Market

The global 1, 3 propanediol market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the growth of 1, 3 propanediol.

Fact.MR has provided detailed information about price points of key manufacturers in 1, 3 propanediol market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

  • Merck KGaA acquired CDMO Exelead in 2022. This acquisition is likely to lead for significant potential in the growing market for therapies and strengthen their product offerings
  • Metabolic Explorer in 2021 announced the scale up of 1, 3 propanediol (PDO)-BA technology and its production in cosmetics and industrial applications

Global 1, 3 Propanediol Market by Category

  • By Source, Global 1, 3 Propanediol Market is segmented as:

    • Bio-based PDO
    • Petrochemical-based PDO
  • By Application, Global 1, 3 Propanediol Market is segmented as:

    • Personal Care and Cosmetics
    • Cleaning Products
    • Pharmaceuticals
    • Others
  • By End-Use, Global 1, 3 Propanediol Market is segmented as:

    • Composites
    • Adhesives
    • Laminates
    • Coatings
    • Moldings
    • Aliphatic Polyesters
    • Others
  • By Region, Global 1, 3 Propanediol Market is segmented as:

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

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The global value of 1, 3 propanediol market is estimated to be worth over USD 935.2 Million in 2022.

The demand is anticipated to surpass USD 2,789.8 Million by 2032 end.

During 2017-2021, global 1, 3 propanediol market grew at 8.5% CAGR.

Some of the prominent players in 1, 3 propanediol market are Metabolic Explorer, Merck KGaA, Dupont Tate & Lyle Bio Products Company, Zhangjiagang Glory Chemical Industry Co. Ltd., etc.

North America tops the global 1, 3 propanediol market accounting for 27.4% of global market share in 2022.

Personal care & cosmetics segment under the application segment contributes 38.9% of market share in global consumption of 1, 3 propanediol.

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