Key players operating in the global 1,3 propanediol market are Tokyo Chemical
Industry Co., Ltd., Shenghong Group Holdings, Primient, Haihang Industry,
DuPont, Metabolic Explorer, Zhangjiagang Glory Biomaterial Co., Ltd., Zouping
Mingxing Chemical Co., Ltd., Shell Chemicals LP, and Merck KGaA.
The global 1,3 propanediol market is anticipated to grow at a robust rate owing
to growing demand from the packaging industry. PDO provides properties such as
lightweight, flexibility, and moisture barrier which are highly suited for
packaging applications. Moreover, rising consumption of personal care and
cosmetic products is also fueling the demand.
Technological advancements are focused on developing biomass-based and
sustainable production methods of PDO through fermentation of renewable
feedstock like sugarcane and corn. Emerging technologies allow controlling
bacterial strains and fermentation process parameters to achieve enhanced
product yields.
Market Trends
Growing Production via Renewable Routes: Major players are investing in R&D
to develop advanced bio-based processes for commercial-scale
1,3
Propanediol Market Size production
using agricultural waste and non-food biomass as renewable feedstock.
Increasing Application Diversity: New applications of 1,3 propanediol and its
derivatives are being explored in industries like cleaning products, textiles,
healthcare, and engineering plastics owing to its eco-friendly profile.
Market Opportunities
Potential in Developing Markets: There exists significant growth potential in
Asia Pacific and Latin American markets attributed to rapid industrialization
and rising demand for polyurethane resins, fibers, and personal care products.
Emerging Applications: Application development in bioplastics especially
polylactic acid (PLA) and polytrimethylene terephthalate (PTT) fibers utilizing
1,3 propanediol offers lucrative prospects.
Impact of COVID-19 on Global 1,3 Propanediol Market Growth
The COVID-19 pandemic severely impacted the global 1,3 Propanediol market
growth in the initial phase due to strict lockdowns imposed across various
countries. The supply chain disruptions and shortage of raw materials adversely
affected the production capabilities of market players. The demand from end-use
industries such as cosmetics, pharmaceuticals, packaging declined significantly
as these sectors were among the worst affected during the pandemic outbreak.
However, post pandemic there has been gradual recovery in the market as
restrictions are being lifted globally. The demand from personal care and
hygiene products is increasing rapidly owing to growing health and wellness
trend. Also, the usage of 1,3 Propanediol in various medical and packaging
applications is driving growth. Market players are focusing on sustainable and
cost-effective production methods to cater rising demands. Ongoing research and
developments in production technologies are expected to pave new growth
opportunities over the forecast period. While short term impacts were
witnessed, long term outlook for the market remains positive with strategies to
overcome challenges posed by pandemic.
North America dominates the global 1,3 Propanediol market in terms of value.
The North American region accounts for over 35% of the global market share
primarily due to high demand from personal care, food, and pharmaceutical industries
in U.S. and Canada. Availability of raw materials, low cost of production, and
presence of major market players drive the 1,3 Propanediol market growth in
this region. Strong economic growth coupled with increasing consumption per
capita of personal care and hygiene products fuels the demand. Furthermore,
ongoing R&D activities for wider applications of 1,3 Propanediol also
support the regional market growth.
Asia Pacific exhibits the fastest growth for global 1,3 Propanediol market.
Asia Pacific region is poised to witness exponential growth rate during the
forecast period. Growing middle class population, rising disposable incomes,
and changing lifestyles in countries like China, India are the major factors
contributing to increased demand of 1,3 Propanediol. Expanding end-use
industries such as packaging, construction, automotive has augmented the market
growth in Asia Pacific region. Also, shifting of major market players to
developing Asian countries due to availability of cheap labor and resources
accelerates the 1,3 Propanediol market expansion.
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