Nov 19, 2020   SOURCE: BusinessWire

$691 Million 1,3-Propanediol (PDO) Markets: Polytrimethylene terephthalate (PTT), Cosmetics, Personal Care & Cleaning Products, Polyurethane (PU) - Global Forecast to 2025 - ResearchAndMarkets.com

The "1,3-Propanediol (PDO) Market by Application (Polytrimethylene terephthalate (PTT), Cosmetics, Personal Care & Cleaning Products, Polyurethane (PU)) and Region (Americas, APAC, Europe, Middle East & Africa (EMEA)) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The Global 1,3-Propanediol Market Size is Estimated to Grow from USD 402 Million in 2020 to USD 691 Million by 2025, at a CAGR of 11.4%

Growing demand for polytrimethylene terephthalate is expected to drive the 1,3-propanediol market.

The market growth is driven mainly by the increasing demand for polytrimethylene terephthalate (PTT) in the manufacturing of carpets and apparel due to its good physical properties and high mechanical performance. PTT is preferred over polymers such as nylon 6 and nylon 6,6 in these applications. 1,3-propanediol is the major feedstock for manufacturing PTT.

Cosmetics, personal care, and cleaning products application segment is estimated to witness the highest growth rate between 2020 and 2025.

The cosmetics, personal care, and cleaning products application segment is estimated to witness the highest growth rate between 2020 and 2025. Increasing usage of 1,3-propanediol by major manufacturers of these products such as L'Oreal (France), Avon Products, Inc. (UK), Unilever (UK), Method Products (US) and Estee Lauder Inc. (US) is driving the market growth.

1,3-propanediol market in EMEA to witness strong growth during the forecast period.

The EMEA 1,3-propanediol market is estimated to witness significant growth during the forecast period. The growing demand for bio-based products in the region and the increasing usage of 1,3-propanediol by manufacturers in the growing cosmetics, personal care & cleaning products industry is driving the 1,3-propanediol market in the region.

Market Dynamics

Drivers

  • High Demand for Environment-Friendly, Bio-Based Products
  • Increasing Use in Resin Applications
  • Growing Demand for Ptt

Restraints

  • Availability of Substitutes at Comparatively Lower Costs

Opportunities

  • High Growth Potential in Emerging Economies
  • New Application Areas of 1,3-PDO
  • Genetically Engineered Microorganisms for Glycerol Fermentation

Challenges

  • Lack of Awareness About the Benefits of 1,3-Propanediol in Industrial Applications

Companies Mentioned

  • Dupont Tate & Lyle Bio Products Company, Llc
  • Haihang Industry Co., Ltd.
  • Merck Kgaa
  • Metabolic Explorer
  • Sheng Hong Group Holdings Ltd.
  • Tokyo Chemical Industry Co., Ltd.
  • Zhangjiagang Glory Biomaterial Co., Ltd.
  • Zouping Mingxing Chemical Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/j6xfb7