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The 1,3-propanediol (PDO) market is estimated to grow at a CAGR of 12.77% between 2022 and 2027. The size of the market is forecast to increase by USD 440.81 million. The growth of the market depends on several factors, including the growing polyester applications across various industries, the growth of the personal care and cosmetics industry, and the growing environmental concerns.
This report extensively covers market segmentation by application (PTT, polyurethane, personal care and detergents, and others), source (bio-based and petrochemical-based), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Growing polyester applications across various industries are notably driving the market growth, although factors such as lack of awareness of environment-friendly products may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing polyester applications across various industries is the key factor driving the growth of the global 1,3 PDO market. The global demand for polyester is expected to increase during the forecast period due to its versatile physical properties. Polyester is the most widely used and preferred material in the textile industry due to its versatility, low cost, and recyclability. These properties provide a completely unique set of benefits that are unmatched by any other natural or synthetic fiber. Apart from the textile industry, these polyesters are also used in other applications such as home furnishing, automotive, construction, filtration, personal care, and hygiene. PTT, a polyester, is manufactured using 1,3-PDO.
With the advancement in the technology of 1,3-PDO production, PTT is produced. It is used in various applications, such as in carpets and textile fibers, films, monofilaments, and nonwoven fabrics. They are also used in the engineering thermoplastics area. Coatings based on polyesters, which are made from 1,3-PDO, provide superior impact resistance and flexibility as compared with those coatings that do not contain 1,3-PDO. Polyesters, which are made from 1,3-PDO, exhibit certain properties that make them stand out from all other polyesters. These factors are anticipated to drive the growth of the 1,3-PDO market during the forecast period.
Augmented investment in R&D of PDO is the primary trend in the global 1,3 PDO market. The demand for 1,3-PDO from various end-users, such as the textile, construction, and automotive industries, is expected to increase during the forecast period. Therefore, some of the major manufacturers are investing in modern and efficient technologies. Vendors in the market are investing substantially in R&D to develop advanced, bio-based, and recyclable 1,3-PDO.
Additionally, suppliers are investing in research and development to produce more bio-based raw materials and technologies. Because bio-based methods have several advantages over conventional products, such as reduced energy requirements, low cost, the biodegradability of the product, non-toxic processing, and less environmental impact. Investments in research and development are expected to enable new applications for 1,3-PDO and are expected to drive market growth during the forecast period.
Lack of awareness of environment-friendly products is a major challenge to the growth of the global 1,3 PDO market. A majority of 1,3-PDO is used in the manufacturing of PTT, as the former one imparts elastic recovery and superior stretching to the product. This makes 1,3-PDO a potential substitute for nylon. Personal care products made from 1,3-PDO are comfortable to use, environment-friendly, and skin-friendly. These products can be easily recycled and decomposed. However, the lack of awareness among consumers in developing economies, such as India and China, which are the primary markets for 1,3-PDO, is hindering the growth of the global 1,3-PDO market.
Moreover, key vendors should consider public acceptance when developing a product strategy. Traditional markets require an initial analysis of the ethical, legal, and social implications of bio-based alternatives. Public education and communication to raise awareness of the products are necessary for the general acceptance of eco-friendly products. Both manufacturers and consumers play an important role in improving public acceptance of products. The above characteristics are not properly implemented, which does not improve the perception of eco-friendly products. These factors are expected to hinder the growth of the 1,3-PDO market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global 1,3-Propanediol (PDO) Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Accela ChemBio Inc.: The company offers 1,3-Propanediol for cosmetics, foods, and drugs. Also, the company offers bio-pharmaceutical chemicals.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the PTT segment will be significant during the forecast period. As the industry moves towards replacing traditional polyester, the global 1,3-PDO market for PTT is expected to grow rapidly compared to other application segments. Commercial production of PTT has recently started. Moreover, the demand for 1,3-PDO gradually increasing, and the demand for 1,3-PDO is growing because it is an essential component in the production of PTT. These factors will increase segment growth during the forecast period.
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The PTT segment was valued at USD 279.12 million in 2017 and continue to grow by 2021. PTT is a polyester and is made by condensation and polymerization or transesterification. Compared to PBT, PTT compounds have better tensile strength, flexural strength, and stiffness. These compounds have a good surface finish and are cost-effective. One of the features of PTT that makes it significant for various applications is the resistance to a broad range of chemicals at room temperature, such as carbon tetrachloride, aliphatic hydrocarbons, gasoline, perchloroethylene, alcohols, oils, fats, glycols, ethers, dilute acids and bases, and esters. PTT is mainly utilized in fibers called Triexta fibers that are used to manufacture carpets and textiles. Such factors will increase the 1,3-propanediol market growth during the forecast period.
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North America is estimated to contribute 74% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The 1,3-PDO market in North America is likely to witness significant growth owing to the large consumption of PTT in the region. 1,3-PDO is one of the most important chemicals required to manufacture PTT. In addition, polyurethane consumption in this area is also high. Polyurethanes are mainly used in the automotive industry because automakers are focusing on lighter and more fuel-efficient vehicles. Increasing automotive production in the region is expected to drive the polyurethane market, which will increase the demand for 1,3-PDO. High demand for polyurethane foam in North America is anticipated to be mainly driven by the growing construction industry across the US, Canada, and Mexico, coupled with improved public transportation and growing production facilities, specifically in Mexico. This is expected to drive the demand for the 1,3-propanediol market during the forecast period.
In 2020, the country saw a slight dip in biodiesel production in the fourth quarter of 2020 when compared with other transportation fuels, as per the US Energy Information Administration's (EIA) Petroleum Supply Monthly, due to the large-scale efforts made to mitigate the COVID-19 pandemic. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Such factors are expected to drive the market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global 1,3-propanediol (1,3-PDO) market as a part of the global commodity chemicals market within the global chemicals market. The global commodity chemicals market covers companies that primarily produce industrial and basic chemicals, including, but not limited to, plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
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1,3-Propanediol (PDO) Market Scope |
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Report Coverage |
Details |
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Page number |
165 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.77% |
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Market growth 2023-2027 |
USD 440.81 million |
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Market structure |
Concentrated |
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YoY growth 2022-2023(%) |
11.85 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 74% |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Accela ChemBio Inc., ChemImpex International Inc., Connect Chemicals GmbH, Haihang Industry Co. Ltd., Hefei TNJ Chemical Industry Co. Ltd., Loba Chemie Pvt. Ltd., Merck KGaA, METabolic EXplorer SA, Spectrum Laboratory Products Inc., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., Toronto Research Chemicals Inc., Zhangjiagang Glory Chemical Industry Co. Ltd., Shell plc, and Tate and Lyle Plc |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID -9 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Source
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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