1, 3-Propanediol Industry Analysis, Size, Share, Growth, Trends and Forecast 2022 – 2030
1, 3-propanediol a class of specialty compounds is a colorless liquid, which is miscible in water. It is mainly used as a feedstock in the production of various chemicals and materials. It finds its applications in the production of polyurethane, polytrimethylene terephthalate (PTT), cosmetics & personal care, and household cleaners. It is also known for niche applications like engine coolants, de-icing fluid, and heat transfer fluid, among others.
Over the past few years, The 1,
3-Propanediol Market is growing rapidly, witnessing a massive demand
across major end-use industries. Moreover, the growing demand for
polytrimethylene terephthalate (PTT) is a key factor propelling the growth of
the market. According to a leading research firm, Market Research Future
(MRFR), the global 1, 3-Propanediol market is expected to garner significantly
by 2030. MRFR also asserts that the market would register a CAGR over 9% throughout
the forecast period (2022-2030).
Glycerol, a by-product of the biodiesel production
process, is used as a prominent raw material in the production of 1,
3-propanediol. As a result, the growing production of biodiesel would
positively impact the growth of the global 1, 3-propanediol market. The
augmented demand from the burgeoning automotive & packaging industry drives
the market growth predominantly.
Get Sample Copy @ https://www.marketresearchfuture.com/sample_request/5722
Major Players:
Players leading the 1, 3-Propanediol market include
Metabolic Explorer SA (France), DuPont Tate & Lyle Bio Products Company,
LLC (US), Zhangjiagang Glory Biomaterial Co. Ltd (China), Royal Dutch Shell
(Netherland), Zouping Mingxing Chemical Co., Ltd (China), Shanghai Jinjinle
Industry Co., Ltd (China), Zouping Mingxing Chemical Co.,Ltd (China), Chongqing
Kunlun Chemical Co., Ltd (China), and Salicylates And Chemicals Pvt. Ltd
(India), among others.
Furthermore, the fluctuating prices and demand-supply
gap in the crude oil and the growing environmental regulations foster the
growth of the market, driving investment in R&D activities for the
production of bio-based 1, 3-propanediol. 1, 3-propanediol is an FDA certified
a bio-based product that can be used in many applications, such as coatings,
functional & de-icing fluid, cosmetic & personal care, home care,
polymers, and fibers among others, which, in turn, push the market up.
Global
1, 3-Propanediol Market - Segments
The report segments the market into two key dynamics
to widen the scope of understanding,
By
Application :
Polytrimethylene Terephthalate, Polyurethane, Cosmetics & Personal, Engine Coolants, Heat Transfer Fluid, De-icing Fluid, and Household,
among others.
By Regions
: Europe, North
America, Asia Pacific, and the Rest-of-the-World.
Global
1, 3-Propanediol Market - Regional
Analysis
North America would retain its leading position in
the global 1, 3-Propanediol market throughout the forecast period. The growing
demand for PTT from the growing end-use industries is fuelling the regional
market growth. Moreover, the increasing inclination towards the use of
bio-based products and the stringent environmental regulations that have
increased the production of biodiesel is, in turn, surging the growth of
regional 1, 3-propanediol market. Moreover, the growing demand for plastics in
automotive, construction, packaging, industrial machinery, and aviation sectors
fosters the regional market.
The 1, 3-Propanediol market in the Asia Pacific
region stands second, globally, in terms of the size. The growing biodiesel
production would contribute to market growth positively. The augmenting demand
from the burgeoning industries in the region, such as cosmetics, personal care,
and household care products, would boost market growth.
Rapidly developing countries in the APAC, such as
China, Japan, and India are expected to emerge as key contributors due to the
vast consumption of polypropylene and polyethylene. Furthermore, the growing
investments in the development of the retail sector are promoting the demand
for 1,3-propanediol from the home care and personal care product industry,
making the availability of these consumer goods easier.
The 1, 3-Propanediol market in the European region
is emerging as a promising market. Factors, such as the increasing demand for
polypropylene and polyethylene in heavy industries, act as a significant
tailwind for the growth in the regional market. Also, the demand from the
rapidly growing industries, such as packaging, automotive, and consumer goods,
in some of the European countries like the UK, Germany, and Italy drives the
regional market.
Access
Report Details @ https://www.marketresearchfuture.com/reports/1-3-propanediol-market-5722
Global
Market for 1, 3-Propanediol - Competitive Analysis
Highly competitive, the 1, 3-Propanediol market
appears to be fragmented. Many large and small players churn the market
competition, gaining a competitive advantage. Further, they incorporate
strategic initiatives, such as acquisition, collaboration, partnership,
expansion, and technology launch, to sustain their market position.
Industry/Innovation/ Related News:
May 20, 2019 --- VIVOBAREFOOT (the UK), a leading global shoe
company, launched the company's most innovative sustainable shoe and one
of the world's first plant-based performance shoes - Primus Lite II Bio. Primus
Bio uses vegan biopolymer, a natural bi-product of the field-corn food
industry called 'Susterra Propanediol' or '1,3-propanediol', which is developed
by DuPont Tate & Lyle Bio Products. Sorona®, a bio-based fiber also used in
the shoe, is a trademark of EI du Pont de Nemours and Company.
VIVOBAREFOOT unveiled the highly anticipated unisex
shoe on the heels of independent sustainability research, which highlighted
eco-materials as a key factor in consumer purchasing decisions.
At Market Research
Future (MRFR), we enable our customers to unravel the complexity of various
industries through our Cooked Research Report (CRR), Half-Cooked Research
Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and
Market Research & Consulting Services.
Contact Us:
Market Research Future®
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Phone:
+1 628 258 0071(US)
+44 2035 002 764(UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
Comments
Post a Comment